What's the biggest check you've cut to the IRS?

I've cut some big checks lately, but this one's tough to swallow. Get it? hahaha. I can think of a lot of other things that would be more fun.

 

8k,last time I did my taxes myself, about 10 yrs ago

 

So...as your title inquiry goes, how much?
If you ain't tellin', nobody's tellin'.

 

Not much. I'm just poor trash, not some rich mf'er.

 

You are not going to get any numbers from me but this year's check was pretty substantial. I pulled enough money out of my 401k last year to pay cash for a house here in So TX. So that was a pretty big tax hit this year. I will get another tax hit next year but not nearly as severe because I had to pull more money out of my 401k to pay this year's taxes.

After next April it should be smooth sailing (hopefully!).

Thank God that there is no income tax here in TX.

 

That reminds me... I get to pay the Feds, Montana, and New Mexico, and California sent me a "proposed" bill of something like $20K owed. hahah F'ing clowns.

 

I ain't rich homie

 

To me you are.

 

There is no effing way I would have tried to do this if I was still back in CA. Hell, I'd probably be living in a van down by the river.

 

Why would you pay big money for Independent Rear Suspension. A solid axle has better off road performance.

I dont understand?

 

I don't pay my taxes throughout the year, mostly due to laziness. So they get it all on tax day. Biggest check so far was ~15k. CA only gets around $3k.

 

1031 exchange

Cash rentals

Keep the river flowing

 

1031s are great but they will get you eventually and I ain't living in my houses for 2 years to get around that. Also, tenants suck.

 

77k

 

1031s never end well and eventually you get sick of exchanging and pay taxes on a bigger number than you originally would have. They only make sense if you are close to death. Opportunity zone maybe

 

fukin big last year, the amount the fed takes in getting really bad....maybe after a few people answer here I might post it up

 

I did a 1031 into a corporate office about a decade ago. Sold out of it last year.
I'll never do that shit again.

 

$24k in 2000,after an offer and compromise.Not sure what attorney fees ended up being.. I was a bad boy for a minute,and had a horrible wera habit.
Eventual bankruptcy,and had to get a real worky type job indoors. No shame.. but did piss away a very nice business at the time being young/dumb..Now Im just dumb

 

This is my strategy. I own a highly coveted piece of land. Planning to find somewhere out of suburbia with more acreage and a house on it. I might not die there, but I'll be close enough to it.

Income taxes paid are not necessarily directly related to one's income.