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Updated about 13 years ago on . Most recent reply

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Robin Grimes
  • Real Estate Investor
  • Houston, TX
326
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37
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Welcome TaxMan, I no longer hate you.

Robin Grimes
  • Real Estate Investor
  • Houston, TX
Posted

WOOHOO It's been a decade since I've seen a refund from the IRS. I'm finally seeing the tax benefits of owning rental property. So welcome TaxMan, it's good not to hate you any longer.

Most Popular Reply

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Rich Weese#2 Off Topic Contributor
  • Real Estate Investor
  • the villages, FL
3,498
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5,700
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Rich Weese#2 Off Topic Contributor
  • Real Estate Investor
  • the villages, FL
Replied

I used to hate the IRS more than anything on her! If I knew how to post a couple of letters from the IRS as attachments here on BP I definitely would. Those of you that have read my book have seen those letters of apology reducing the amounts that I owed in 1979 and 1980 from over $600,000-$1000.38. I have those framed and hung on my wall in my office. I will also be showing those in my presentation at the seminar when I discuss my experiences and how to get the taxes under control.

I realized just how bad our system was when a very few years ago I ended up with total taxes owed of $238 for the entire year. The government felt so sorry for me that they gave me $120 earned income credit which reduced the taxes owed to $118 for the year. This is one of the reasons that our tax system is so screwed up.

Once you let the tax consequences get far ahead of you it is hard to get it back under control. Kind of like getting spilled milk back into the carton in my opinion.

Congratulations to those of you that actually got part of your taxes paid return to you. The real goal should be reaching the point where you receive all of your taxes back like General Motors and some of the other large corporations. Rich

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