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Almost Banned Once
Join Date: Feb 2009
Location: Adelaide South Australia
Posts: 38,431
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Years ago, 60 Minutes Australia did a story on Willie Nelson and his financial issues.
He had tax problems and he said in the interview... "They took the photo frames from my house". They removed the photos, Gave them to Willie in a bundle and then packed the frames into a cardboard box. The frames were probably nice but what are second hand photo frames worth? That's who your dealing with. If it was me I would go into their office on time and with a good attitude. 
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- Peter |
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02-03-2011, 01:40 PM
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Willie Nelson owed them money and didn't pay. That's nothing like what I'm asking about.
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2022 BMW 530i 2021 MB GLA250 2020 BMW R1250GS |
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02-03-2011, 04:19 PM
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Almost Banned Once
Join Date: Feb 2009
Location: Adelaide South Australia
Posts: 38,431
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Quote:
The description "Heartless bastards" comes to mind.
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- Peter |
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02-03-2011, 04:36 PM
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coulda, woulda, shoulda
Join Date: Nov 2001
Location: Louisiana
Posts: 2,659
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"One of the best I heard was simply putting all seven years' worth of receipts in a grocery bag, shaking well, and presenting that as your "filing" system, leaving the agent to sort through it"
Tried that my first audit. a couple hundred thou worth of receipts in a large garbage bag and a cardboard box full of checks for each of the 3 years they were auditing me. it just pissed her off even more than she was from our first meeting. she had already told my accountant she was throwing the book at me for what happened the first time she came to my house, so I really didn't care what she said or did. well, she got me real good
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John 74 911s They laugh at me because I am different. I laugh at them because they are all the same. |
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02-03-2011, 04:51 PM
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Dog-faced pony soldier
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Dumb question but has anyone ever been audited who didn't itemize?
I've never (until now) bothered to itemize - I haven't had enough deductable purchases to really make it worthwhile to bother so I always took the standard deduction. This year (2011) will be the first year where it'll really be worthwhile to do so but I'm obviously concerned about audits being triggered as a possible outcome. Am I kidding myself to think I'm better protected against an audit by simply foregoing a little bit of extra money and taking the standard deduction? In addition to being more likely to trigger an audit (I suspect) it's a real pain having to itemize things... I really question whether it's worth the extra time (many extra hours) the extra hassle and the aggravation to do so. Most of what I spend goes to basic stuff like housing, utilities, etc. anyway. Some professional development stuff and some work-related/business-related stuff but probably only $5k-$6k a year...
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A car, a 911, a motorbike and a few surfboards Black Cars Matter |
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02-03-2011, 10:50 PM
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If you can justify the deduction, then take it. If it's all legit, then you should have nothing to fear from an audit.
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2022 BMW 530i 2021 MB GLA250 2020 BMW R1250GS |
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02-04-2011, 05:09 AM
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Dog-faced pony soldier
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Yeah but it's the value of your time, the aggravation, etc. I'll look at it more closely and set a threshold for itemization. If it's substantially more than the standard (I have to work out what "substantially" should mean dollar-wise) then I'll go that way I guess.
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02-04-2011, 09:31 AM
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I'm willing to spend a little extra time to deny the gov't. a little extra money.
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2022 BMW 530i 2021 MB GLA250 2020 BMW R1250GS |
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02-04-2011, 09:37 AM
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Only Porsche
Only bike
