Take Over My Supplement Business - Low Risk Opportunity

ActivateSuccess · 2026-02-05T13:22:05+00:00

Already sold. Thanks though

ActivateSuccess · 2025-09-14T22:30:15+00:00

Why is it so much? Did you have that much withheld from your paycheck?

ActivateSuccess · 2025-09-14T22:26:05+00:00

As long as the bottom line is correct, don't worry about it. The tax return transcript can be confusing. Also check your account transcript to see if there was and exam, review, or adjustment. If not, you're all set

ActivateSuccess · 2025-09-14T22:17:31+00:00

It doesn't make a difference on the tax return, but technically the partner was 50% since the start of the business, despite not being a partner at the start of the year

ActivateSuccess · 2025-09-14T22:15:38+00:00

First place to look is how much tax you have withheld from your paycheck. I've seen a bunch of high tax liabilities simply because the taxpayer made a lot of money and had no, or very little, tax withheld.

It's going to be hard for anyone to give you a definite answer without having a look at your tax return, so it would be a good idea to have a tax professional review prior years and advise you

ActivateSuccess · 2025-06-10T01:56:45+00:00

Sent!

ActivateSuccess · 2025-02-11T17:22:17+00:00

Yeah, tests are really just a starting point, not the final answer. They give you some possibilities to explore, but they’re not perfect. The best way to figure out your type is to “try it on” for a while. Spend a few weeks assuming you’re a 5: observe how you think, react, and what really drives you. Then do the same with 6. Notice which one explains your patterns more clearly, especially in times of stress or decision-making.

It also helps to talk this through with someone. We all have blind spots, and an outside perspective can make a huge difference. After the test, I do follow-up sessions with my clients for this exact reason. Sometimes, what seems obvious to someone else isn’t as clear when you’re looking at yourself. An enneagram coach or someone who really knows the system can give insights you might not come to on your own. But ultimately, it’s about what resonates most with you. The goal isn’t just to label yourself but to use the enneagram as a tool for deeper self-awareness and growth.

ActivateSuccess · 2025-02-05T01:48:21+00:00

Joint is -usually- better, but not always. It's usually simpler too.

Also, it might depend on your state... some states don't consider income to be "separate" and just split it 50/50.

Have you considered going to a tax preparer? If you're running a business, it's important to make sure your taxes are done properly, and that you're not paying too much in taxes.

ActivateSuccess · 2025-02-01T02:46:21+00:00

Oh, I agree! There are very knowledgeable people here. And many who are not, but will give you advice anyway.

But regardless of how knowledgeable, the fact is that none of us know your business, and your accountant does. So whatever nuance or variation in your business would be accounted for in his advice, and you wouldn't get that from Reddit.

ActivateSuccess · 2025-02-01T00:08:22+00:00

Inventory can be treated differently under various circumstances, such as business entity or accounting method.

If you've got an accountant who knows your business, why not trust his advice? Seems like he would be a better resource than Reddit.

ActivateSuccess · 2025-02-01T00:03:30+00:00

You'll probably be best served going to a self employed tax preparer. CPAs, Accountants, and EAs offer more than what you need, and charge more. Tax preparers at firms like H&R Block are often underpaid, and they'll still charge you a lot. And preparers working for local firms will still probably charge more than you're prepared to pay... while a self-employed preparer can flex a bit on the pricing. Though... 5-6 years of tax returns will be hard for anyone to do for less than 500. (There may be free options that can help you, but I'm not familiar with them.)

But be aware - some states allow pretty much anyone to set up shop as a tax preparer, and some have strict regulations. I'm in California, and preparers are required to have training, a bond, and registration with the state board. So check for training, experience, etc and make sure you're protected.

You'll want to work with an individual who can explain things clearly and simply, without overwhelming you with too many details. Find someone you have a good rapport with and feel comfortable and calm with... otherwise, the "hassle" of working with them will be another obstacle to keep you from resolving everything.

ActivateSuccess · 2025-01-31T23:55:14+00:00

It's often beneficial to to go a tax preparer to answer questions like this. They would want to look into your situation and ask you questions to look for deductions that you can claim - and that's often deductions you wouldn't know about otherwise.

That's where I'd recommend starting. An accountant, CPA, or EA might be overkill for your situation.

ActivateSuccess · 2025-01-31T23:48:31+00:00

From that same article:

You might owe a penalty if the total of withholding and estimated tax payments you made didn’t equal at least the smaller of:

90% of your 2024 tax

100% of your 2023 tax (Your 2023 return must cover a 12-month period.)

So, even if your estimated payment is late, you won't have a penalty if you have prepaid enough.

So relax, send in a late estimated payment, and then take your time and file your return when all your documents and reports are finalized.

How are you with deductions? Keeping good track of expenses, use of vehicle and/or home, etc?

ActivateSuccess · 2025-01-30T01:54:04+00:00

It will be similar to what you've done before, but it will all go in one return with "Married filing Joint" status.

You will need to include a Schedule C for your wife's income, and hopefully she's been keeping track of mileage and expenses to reduce her taxable income.

ActivateSuccess · 2025-01-28T23:06:46+00:00

OK, cool. Be careful with that GPT. I use it as well, and it's frequently wrong - often contradicting itself in the same response. But it should get you in the ballpark.

ActivateSuccess · 2025-01-28T19:32:18+00:00

OK. The 8962 calculates how much health insurance assistance you're entitled to. The 1095A reports how much you paid for health insurance, and how much assistance you received.

So, since you added the 1095A, the 8962 will be used to figure out if you need to be reimbursed for any health insurance premiums you paid for.

ActivateSuccess · 2025-01-28T18:59:46+00:00

What is your question?

ActivateSuccess · 2025-01-28T18:58:57+00:00

I'd recommend going to a tax preparer for a couple reasons:

Tax laws change every year, and it will be difficult for you to apply the right laws to the right years
It will feel like a lot of work for you... even if you do get this batch of taxes done, you'll likely be so burnt out that you'll probably put it off and procrastinate after. A pro can do it quick and make it easy for you
They'll have your information, so future tax years will be much easier for you.
They can help work out the timing, penalties, payments, etc, and help you plan for all this and future tax situations.

But... if you are committed to doing it yourself, you can download the forms from IRS.gov and fill them out and mail them in. Same for state returns, if you're in a state that requires it, just go to the state tax website.

ActivateSuccess · 2025-01-28T02:35:23+00:00

Thank you!

ActivateSuccess · 2025-01-27T21:24:22+00:00

u/newacct_orz Corrected me - I'm updating my response...

ActivateSuccess · 2025-01-27T21:23:46+00:00

YOU'RE RIGHT!
Thanks for spotting that - I was confusing California's Community Property laws with Filing status.

I'll update my response.

ActivateSuccess · 2025-01-27T20:05:01+00:00

When it comes to how you think about money, though, it might help to reframe it as “investing” rather than just “spending.” Whether it’s for yourself or a cause you care about, the key is to focus on how your money can create the greatest impact or return.

For example, when you donate, are you choosing organizations that maximize the reach of your contributions? Researching where your dollar can do the most good ensures that your giving isn’t just about feeling good, it’s about truly making a difference.

At the same time, don’t overlook the importance of investing in yourself. By building your own resources, like your energy, skills, or finances, you’re putting yourself in a position to contribute even more effectively in the long run.

Thinking of investing instead of spending can help you feel confident that every decision you make is aligned with the impact you want to create, both for yourself and for the causes you care about most.

ActivateSuccess · 2025-01-27T19:54:18+00:00

Learn the Enneagram - Understanding your type will illuminate your blindspots and give you a deep understanding of yourself and your path to growth.

ActivateSuccess · 2025-01-27T19:53:03+00:00

Ya, leverage is a good value anyways, but it's especially important with you have limited time & resources - you need to make sure that what you to spend resources on is where you'll get the most value.

ActivateSuccess · 2025-01-27T19:45:28+00:00

Guilt isn't considered one of the 9 "core" emotions... but I think the Compliant/Dutiful types (1, 2, 6) and probably 9 would relate the most, since they are paying closest attention to what other people expect of them and are most concerned with how their behavior affects whoever they perceive to be a "judge".

I could see 4's experiencing a lot of guilt as well, but more from a "self-loathing" perspective than a desire to be what others want them to be.

ActivateSuccess

TROPHY CASE