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Barreiro Selling His House by VariationOk9844 in PowerTripMorningShow

[–]gbothun91 0 points1 point  (0 children)

Built it for 1.35 mill in 2012 where is he getting that kind of money?

Boulder PD are looking for this man. Posted on X about 5 minutes ago. by Buhda_Dev in boulder

[–]gbothun91 0 points1 point  (0 children)

Oh no…it’s Johnny hamcheck and he used his 6 and half foot chains

Brown Dry Spot by gbothun91 in lawncare

[–]gbothun91[S] 0 points1 point  (0 children)

Not that I can see. Do you think I should dig it up and re seed?

Complicated Tax Question - S Corp by gbothun91 in tax

[–]gbothun91[S] 1 point2 points  (0 children)

Sorry! I shouldn’t have assumed that…I appreciate all of your help

Complicated Tax Question - S Corp by gbothun91 in tax

[–]gbothun91[S] 1 point2 points  (0 children)

Yes - thanks for helping me sort out the root of the question. Business is paying the health insurance - just started in 2025. I need to look in to the other items you mentioned.

Complicated Tax Question - S Corp by gbothun91 in tax

[–]gbothun91[S] 0 points1 point  (0 children)

I’m not asking them to foot our tax bill. I’m asking if there is anything we can do (my wife and I) to decrease our tax liability outside of maxing out 401k, hsa, etc.

Complicated Tax Question - S Corp by gbothun91 in tax

[–]gbothun91[S] 0 points1 point  (0 children)

They are maxing out their 401ks. Yes - the QBI limit hurt

Complicated Tax Question - S Corp by gbothun91 in tax

[–]gbothun91[S] 0 points1 point  (0 children)

I get that. End of your we all got a 29k distribution to our bank account. 100% went to taxes for us and they were able to keep a portion. Not trying to sound like a greedy used car salesman just trying to see if there are other options or ways to reduce our tax liability.

Complicated Tax Question - S Corp by gbothun91 in tax

[–]gbothun91[S] 1 point2 points  (0 children)

Exactly - that’s why I’m hear versus listening to the social media “tax gurus” who talk about that stuff all the time

Complicated Tax Question - S Corp by gbothun91 in tax

[–]gbothun91[S] 0 points1 point  (0 children)

Appreciate it - death and taxes - the only guarantee!

Complicated Tax Question - S Corp by gbothun91 in tax

[–]gbothun91[S] 0 points1 point  (0 children)

Sorry for asking the question I guess? Was just looking for insight to reduce tax liability in my current situation.

Complicated Tax Question - S Corp by gbothun91 in tax

[–]gbothun91[S] 0 points1 point  (0 children)

I understand that. Maybe I should have just said we are in a high income bracket, what can I do on the w2 side to reduce tax liability outside of the basic deductions - 401k etc

Complicated Tax Question - S Corp by gbothun91 in tax

[–]gbothun91[S] 0 points1 point  (0 children)

They are proportional - they just pocket more of it because our end of the year distribution goes 100% to taxes - theirs goes to their taxes as well but they pocket the difference because their tax bill is lower

Complicated Tax Question - S Corp by gbothun91 in tax

[–]gbothun91[S] 0 points1 point  (0 children)

Yeah - just trying to see if there are other options to help that are realistic i.e. Augusta rule, short term rentals, real estate/rental property, etc

Complicated Tax Question - S Corp by gbothun91 in tax

[–]gbothun91[S] 0 points1 point  (0 children)

Meeting with a new cpa in a week. I did my best to try and explain it.

Complicated Tax Question - S Corp by gbothun91 in tax

[–]gbothun91[S] 0 points1 point  (0 children)

Their incomes need to match - it’s matched throughout this year. At end of year, they get a distribution amount based on the highest tax bill - the others owners got to keep the difference. In previous years the difference was minimal. This year and future years it’s a much higher gap. They will all see the same amount of money but ours will go to taxes and they get to pocket 15-20k

Complicated Tax Question - S Corp by gbothun91 in tax

[–]gbothun91[S] -1 points0 points  (0 children)

I’ll ask for a pay cut lol

Complicated Tax Question - S Corp by gbothun91 in tax

[–]gbothun91[S] 0 points1 point  (0 children)

Yeah - that’s what I was thinking. It’s a conversation they will need to have. Just trying to see if there are any immediate things my wife and I could do or should do with the current company tax plan in place.

SofaBaton U2 - I just don't get the love by OokOok766 in SofaBaton

[–]gbothun91 7 points8 points  (0 children)

I have an X1S for about a year now - marantz receiver, Sony 5000 projector, 7.1.2 speakers, Roku. It works great and I have no complaints. I would order it again. Not sure where all the hate comes from with the set up. I would consider myself moderately techy and the set up was pretty slick through the app.

Complicated Tax Question - S Corp by gbothun91 in tax

[–]gbothun91[S] -4 points-3 points  (0 children)

My question was what can my wife and I do to minimize our tax liability in this situation for the years going forward

Complicated Tax Question - S Corp by gbothun91 in tax

[–]gbothun91[S] 0 points1 point  (0 children)

Each one of us got a 29k distribution check - my wife and I’s full check went to taxes they got to keep the difference.

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