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#1
11-16-2006, 10:27 PM
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Is my money clean to invest in real estate?
Me and some friends are starting up an LLC and buying our first home. The only problem is 2 of us are using our poker income from this year for about half the downpayment ( 40k) and 40 % of ownership in the LLC. If we havent filed quarterly this year and our total filed taxes last year were around 30k, is this years money clean to invest before its declared? Any help or ideas are appreciated
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#2
11-17-2006, 03:54 AM
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Re: Is my money clean to invest in real estate?
pay taxes, buy hookers
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#3
11-17-2006, 11:04 AM
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Re: Is my money clean to invest in real estate?
If you don't pay your quarterlies, but pay all of your taxes in April, I believe you are only risking paying a penalty. Better than listening to my guesses, go to irs.gov and research it. You should be able to find a document that explains how to calculate whether you owe quarterly withholding or not, and what your penalties will be.
Of course the best option is to just hire a CPA to do your taxes and let them tell you.
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#4
11-17-2006, 09:07 PM
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Re: Is my money clean to invest in real estate?
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