Thread: Tax Season
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      01-30-2012, 02:59 PM   #22
FwdFtl
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Quote:
Originally Posted by MP0WER View Post
If that's true he's they had better get ready for an audit and lots of interest and penalties.

They likely pay in via W2 AND write a $40k check. My guess is that their total federal taxes should be in the hood of $100 & $200k depending on their situation. Would likely be right in the middle if they have a simple return.

I haven't seen a refund since 1999.

BTW, don't ever feel sorry for anyone who pays taxes on $500k or more of revenue.
I'm not too familiar with taxation and all, but one is director of IT for Avery Dennison (the label makers) and the other has businesses and investments. I just heard him mention this once and thought that was a lot of dough, but never knew the details.

Don't want to cross into the political realm, so I'll hold my views about paying taxes
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