Tax bill = bye bye Daytona :(

[versatile1]

Tax bill = bye bye Daytona :(
Has anyone else been faced with this decision?
I had My taxes done last week and BAM! I was hit with a bill for taxes owning that exceed the cost of a brand new Daytona 165200 and a datejust combined.

I did the responsible thing, threw some cash at the bill + sold my Daytona!
The good news is that in the end I actually made a couple of buck on the Daytona ( about 5% over 9 months ) which is better then money in the bank, the better news............no more taxes owing!
Sucks but feels good doing the right thing!
I still have a great Yachtmaster to get me by until next tax season

[Director EDTF]

The price of Freedom!!

[SWISSAHOLICS]

Well you put your priorities first and that's what matters....you can always replace a watch but you can't get rid of IRS without paying your taxes!!

[Solo118]

Sorry to hear that, but luckily its not a super rare watch. You can pick up another when your pockets are replenished.

Definitely a good move though!

[sea-dweller]

You can buy another Daytona, next year, hopefully when you get that large refund!

[1bad750]

I paid my taxes and bought a DD, I owed more than the DD. Makes me mad every yr so i need to cheer myself up!! Good move not owing the irs tho!

[Trouble15]

Sorry to hear. You can always buy the Daytona back.

[LightOnAHill]

Hopefully next year you can set aside money each month equal to the taxes you'd owe for that month so you're not caught unprepared to pay taxes on your earnings. Get an ING account and save a bit each month.

Good luck this year my friend.

[JJL]

Taxes are brutal, sorry to hear. But like the others have said, you can always get another Daytona...

... plus, the watch you still have is better ;)

[versatile1]

It wasn't a difficult decision, I've never been a believer have having "toys" and debt and like everyone has said, there are plenty of Daytonas out there so when the savings account gets back to 5 digits I'll convert cash back to Stainless Steel and maybe make another 5% lol

[427shark]

That's a positive way to look at it.... Btw very nice sls I just brokered a blk/blk 12, for a Benz that thing moves lol. Was very impressed with the torque and sound

[Hooper]

Hopefully a large tax bill = a large income! The only positive! A bitter pill too be sure! Hopefully you can get it back in the near future! Better than having the IRS on your butt

[77T]

The advantage I always sought was to owe tax sometime in April for prior year. I could do more with the extra funds investing them. At the right point in 1st Qtr. we'd sell off some winning positions and fund the tax account.

Sorry to hear it came your way as an unwelcome surprise.

[jason1332]

That happened to me in 09. Horrible feeling when you know the money is going to waste in the federal government.

[atashbul]

If only we didn't have to pay taxes, we would have so many more rolexs:)

[lhanddds]

Originally Posted by jason1332

That happened to me in 09. Horrible feeling when you know the money is going to waste in the federal government.

It's happened to me. I sold a rare watch and have not been able to replace it

[watchwatcher]

Oh man, sorry to hear this. Hope you get your watch back soon.

[h999r]

good citizen !

[wantonebad]

Originally Posted by h999r

good citizen !

Bad representation...

Been there, paid that. Where is that box of tea I wanted to throw in the harbor?

[porschejeff]

I'm a CPA and hear lots of whining when I have to tell a client they owe taxes. We do our best to minimize it, but...as I tell them, it's better than the alternative, not having income and not paying taxes.

Any amount is still too much and I feel your pain. I wrote a big check with mine and thought how many nice watches that would have bought. God Bless America!!!!

[ChallengerSRT8]

If you are paying taxes it means you are making money.

[Sous]

Originally Posted by versatile1

I've never been a believer have having "toys" and debt

You've just described my neighbour. Has all the latest gadgets, cars, vacations, in ground pool, but his hydro was shut off last week because he hasn't paid his bill in six months. I told him to sell his diamond Cartier Santos 100, and he looked at me like I was Mussolini.

[Sous]

Originally Posted by ChallengerSRT8

If you are paying taxes it means you are making money.

[swils8610]

Been there. Had to do that. My sympathies.


Sent from my iPhone using Tapatalk

[Duc5150]

....Hamid Karzai appreciates your efforts in giving up your Daytona to help stuff suitcases full of cash for him and his family!!! On behalf of Mr. Karzai let me say THANK YOU!!!


Todd B. in the OC

[eric23]

That sucks!

[boogiebot]

only two things that ever freaked me out are taxes and the dentist

[Kingair]

Originally Posted by versatile1

Tax bill = bye bye Daytona :(
Has anyone else been faced with this decision?
I had My taxes done last week and BAM! I was hit with a bill for taxes owning that exceed the cost of a brand new Daytona 165200 and a datejust combined.

I did the responsible thing, threw some cash at the bill + sold my Daytona!
The good news is that in the end I actually made a couple of buck on the Daytona ( about 5% over 9 months ) which is better then money in the bank, the better news............no more taxes owing!
Sucks but feels good doing the right thing!
I still have a great Yachtmaster to get me by until next tax season

Frank Sinatra . . . That's life . . .

But if you drive the car posted in your Avatar . . .

Than the Daytona isn't that far away

HAGOne

[roger0770]

sorry to hear about it. i also had to pay some taxes this year. fortunately i got to keep my watches. unfortunately, i will have to wait a little longer for my next purchase.

[Speed]

Sounds like you need to do some tax planning - in advance.