I own a busness With a gross of 40-50,000 before deductions . After the deductions, total is around 12,000 . I do get Child Credit so most of the time they owe me .After paying my social security, medicare etc. People say if they owe you , it's not as bad as to if you owe them. Thank everyone for their help on this matter.
2006-11-25 08:34:38 · 2 answers · asked by Cindy B 1 in Business & Finance ➔ Taxes ➔ United States
Filing on my taxes is my QUESTION? Thanks to those who helped on this matter .I 'll figure it out,instead of reading smart a... answers.
2006-11-26 06:22:55 · update #1
I'm not sure what your question is, so I'll comment on "People say if they owe you , it's not as bad as to if you owe them." The reverse is more accurate. If the IRS owes you a refund, you made an interest free loan to the government. If you owe them a small amount with your return, they 'loaned' you that amount.
2006-11-25 11:24:43 · answer #1 · answered by STEVEN F 7 · 0⤊ 0⤋
May be you should revise again since there is not a complete question.
" People say if they owe you , it's not as bad as to if you owe them."
Are you talking about your taxes? or not filing them? Do ask.
And hear is food for thought if you own and pay taxes that is a good thing. It mean you made money. My goal is to pay a lot of taxes, in fact i already thinking of next year and I want to pay 100k in taxes.
2006-11-25 17:26:01 · answer #2 · answered by Anonymous · 0⤊ 0⤋