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  • That’s a lot of tax!

    Plz tell me there’s someone else paying 46k in federal taxes this yr ….

  • #2
    Originally posted by Savedfpdoc View Post
    Plz tell me there’s someone else paying 46k in federal taxes this yr ….
    LOL 46K. Many (?most) here would love to only be paying 46K.

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    • #3
      Originally posted by AR View Post

      LOL 46K. Many (?most) here would love to only be paying 46K.
      Lol ok good, just checking

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      • #4
        I think we're gonna clock in around 200k. I didn't even make 200k in 2019! So it kinda feels like an accomplishment or something . . .

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        • #5
          Originally posted by AR View Post

          LOL 46K. Many (?most) here would love to only be paying 46K.
          Sign me up!

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          • #6
            That level of tax comes with a high income. Bittersweet but I am very very under a $46,000 tax bill. Which is also bittersweet.
            $1 saved = >$1 earned. ✓

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            • #7
              I think we may end up paying that in state tax this year and I'm not evening in a CA/NY level tax state.

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              • #8
                I finished my taxes yesterday and we payed right at 80k with state and federal. This year our AGI should be 2-2.5x what it was last year so 2022 taxes should be fun...

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                • #9
                  Is $46k your quarterly payment?

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                  • #10
                    I would love to only pay 45k in taxes, but then again it would have meant I made alot less

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                    • #11
                      I paid that much and I am retired but I am actively Roth converting.

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                      • #12
                        Originally posted by Savedfpdoc View Post
                        Plz tell me there’s someone else paying 46k in federal taxes this yr ….
                        After some lump sum payments last year, I got a nice surprise of owing 40k after being very accurate the past two years. Lesson learned. Good problem to have?

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                        • #13
                          Originally posted by Savedfpdoc View Post
                          Plz tell me there’s someone else paying 46k in federal taxes this yr ….
                          The days of paying less than 100K in fed taxes passed long time ago for me. Sadly this year, due to some unloading of properties and not getting any 1031 exchange items, I might be paying 20X or more that amount.

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                          • #14
                            Originally posted by Kamban View Post

                            The days of paying less than 100K in fed taxes passed long time ago for me. Sadly this year, due to some unloading of properties and not getting any 1031 exchange items, I might be paying 20X or more that amount.
                            first world problems! congrats on the cashout. that's been the problem a few folk have been having over this year. no quality 1031 properties so just took the tax hit.

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                            • #15
                              Originally posted by StarTrekDoc View Post

                              first world problems! congrats on the cashout. that's been the problem a few folk have been having over this year. no quality 1031 properties so just took the tax hit.
                              The 1031 properties we looked at were pure junk and much worse than the ones we were selling as far as price :quality was concerned. No point buying crappy properties just to defer taxes.

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