keccers
@keccers.eth
So I worked on this today, and initiated the Coinbase withdrawal or whatever to cover it just so I don't totally drain my liquid fiat [this seems to be working BLESS!!! They literally have everything on me from my bank acct # to my SSN so please trust me Coinbase please don't cause me problems lolol] Where it gets brutal is the fat salary reduction I took leaving NYC/working at early stage startup To safe harbor you have to pay 100%+ of what you paid last year, or 90% of this year's taxes I have no idea what I will owe this year. So I'm like take the path of least resistance and just match last year But the income difference means that what I've paid in federal taxes to-date is no where close to last year, leaving me with a YUGE bill to cover But the upshot is then I'll probably get a refund. Maybe. Hopefully. While no penalties for not paying in over the year on all this crypto stuff lolololol [NOT AN ACCOUNTANT BARELY KNOW WHAT I AM DOING]
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GIGAMΞSH
@gigamesh
I would strongly recommend against paying a large amount in estimated payments out of fear of a large penalty. I did so for 2020 and a $13k refund was mysteriously held up for over two years. I didn’t get it until contacting Adam Schiff’s office and they greased the wheels somehow (ty Shifty Schiff ❤️).
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keccers
@keccers.eth
What!!! Whoa! Why do you think you had problems getting the refund?
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GIGAMΞSH
@gigamesh
Large year over year increase in income from crypto + IRS pandemic backlog
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