IRS gives Americans 3-month break to file taxes

Suave said:

They just took 6k out of my bank this Monday. :frown:

Click to expand...

U had 6k in bank ????

U drive FHV and if you have more than 1k in bank then you are not being smart.

Balance the income, expense it out.

Smart spending is the key, So many expenses you can offset the earnings. You keep it at the level that you don’t have to go for social benefits at the same time you don’t have surplus that it gets taken out. If you pay 6 grand or more, what benefit are you getting out of it. If situation like these days you won’t get anything back or anything extra from the other guy who paid nada. This gig is like minimum wage, and you don’t need to pay $6k. Even the businesses that make over a million offset bulk of profit in business expenses or upgrades, except for the sales tax I don’t think smart business pay lot of taxes. Unless you are W2 where in also you can make certain deductions, we are self proprietory, s corp, etc and can do the maths ourselves. If I am going to pay 6k doing this gig , I would rather upgrade my car or expense it to offset that 6k unless I am planning buy a house or get a loan etc where I would need to show my net. But to each his own.

Zubera said:

Your original comment reads: if you're a FHV driver and you have $1k and more in your bank acct you're stupid.

Click to expand...

I am not calling anyone stupid as it's not my money to begin with. So they can do what they want with their money , However since I do FHV I know how much one makes and it's not easy money. I am just saying that there are ways to offset. Expense doesn't mean you spent everything you make on things that will have no value. But expense it out means there are ways to offset the earnings so you don't have to get ripped off doing this gig.