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Welshwatchman · 1 May 2013, 06:55 AM

Quote:

Originally Posted by 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

Next time you chat to him tell him to refrain from voicing his "world view" opinions here.

Politico-religio-trf-no.

eric23 · 1 May 2013, 03:59 AM

That sucks!

boogiebot · 1 May 2013, 04:06 AM

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

Kingair · 1 May 2013, 04:28 AM

Quote:

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 · 1 May 2013, 04:48 AM

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 · 1 May 2013, 04:58 AM

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

nick c · 1 May 2013, 05:08 AM

Best of luck I was there too

cop414 · 2 May 2013, 09:26 PM

This sucks, sorry to hear. Better to have no tax debt and save up for another Daytona though.

Puffy · 1 May 2013, 05:08 AM

you need to start engaging in tax avoidance so you don't have to sell your earthly possessions!

Nycturbovr6 · 1 May 2013, 06:30 AM

Sorry to hear that. Maybe next year

tlbarrs · 1 May 2013, 06:47 AM

I feel for you, i had a similar thing happen to me several weeks ago. Not to go in to too much detail but i have been fighting a legal case for the last couple of years and had a final bill arrive in the post a bit of a shock to say the least. So doing the responsible thing i sold my Sub 14060m to pay the bill, It was heart braking when i handed it over to the guy who bought it. The week after i had sold it an art dealer who i had brought a rare piece of art from called me up to ask if i would be interested in selling it as they had a client who was desperate for it, they offered me 3 times what i had paid and the deal was done. Needless to say i went straight to the local AD and i now own the Hulk so it just goes to show these things have a funny way of working them self's out.

RolexDivers · 1 May 2013, 06:49 AM

The way I do it is that I tell IRS to cut the maximum out of each paycheck .... then when I do my taxes, it is the IRS that owes me $$ .... usually enough to buy a couple of DSSDs...but that money goes into the family fund so it is not for watches....

Welshwatchman · 1 May 2013, 06:58 AM

Quote:

Originally Posted by RolexDivers

The way I do it is that I tell IRS to cut the maximum out of each paycheck .... then when I do my taxes, it is the IRS that owes me $$ .... usually enough to buy a couple of DSSDs...but that money goes into the family fund so it is not for watches....

Same with me.

It's not rocket science to keep a running tally of taxable income YTD so when the accounts are finalised, it's there or threreabouts what you expected.

When I was brainy I wrote a few eye watering cheques.

Never bleated about it though.

Rolex-10 · 1 May 2013, 07:09 AM

You knew you had to pay tax didn't you?

LightOnAHill · 1 May 2013, 01:09 PM

Quote:

Originally Posted by RolexDivers

The way I do it is that I tell IRS to cut the maximum out of each paycheck .... then when I do my taxes, it is the IRS that owes me $$ .... usually enough to buy a couple of DSSDs...but that money goes into the family fund so it is not for watches....

Why not put it into the family fund yourself and let it grow all year long?

RolexDivers · 3 May 2013, 01:42 AM

Quote:

Originally Posted by LightOnAHill

Why not put it into the family fund yourself and let it grow all year long?

Well I do not know enough about investing --- so the way I look at it is that it is forced savings .... I like the feeling of getting hefty paybacks from the govt...there is a fine balance between owing zero to the IRS and owing $x to the IRS .. I do not know what that line is and don't wanna find out either...

Thatguy · 1 May 2013, 07:50 AM

Quote:

Originally Posted by RolexDivers

The way I do it is that I tell IRS to cut the maximum out of each paycheck .... then when I do my taxes, it is the IRS that owes me $$ .... usually enough to buy a couple of DSSDs...but that money goes into the family fund so it is not for watches....

Why let the gov hold your money for free?

jason1332 · 1 May 2013, 10:11 AM

Quote:

Originally Posted by Thatguy

Why let the gov hold your money for free?

Precisely. They pay no interest back to you.

Duc5150 · 1 May 2013, 03:33 PM

Quote:

Originally Posted by Thatguy

Why let the gov hold your money for free?

Exactly...they aren't paying you any interest!

Todd B. in the OC

bscepter · 1 May 2013, 07:51 AM

taxes are the burden of a civilized society... but it still sucks when you have to pay in april.

/owed this year too

10XRolex · 1 May 2013, 12:46 PM

I'm right there with you but I refused to sell to pay the Uncle. I'm just moving funds around to make it happen.

Tim

mikkolopez · 1 May 2013, 02:15 PM

The price of being free of the IRS.

ra's ag · 1 May 2013, 02:44 PM

I'm with you. I was planning on buying the AP diver last month. My tax bill set that back for a few months.

Hairdude1 · 1 May 2013, 03:26 PM

Sorry to hear man!

Apdl · 1 May 2013, 03:31 PM

Right thing indeed

sleddog · 1 May 2013, 03:31 PM

It's a vicious cycle that comes by but once a year........thank goodness!

Just coughed up a fair chunk of change myself today, but the trick is to not have to sell!

In any case, you did the right thing by removing yourself from the red ink of the taxation department!

Here's hoping a Daytona returns soon enough!

polarinda · 1 May 2013, 03:53 PM

Every month, i pay the taxdevil to service HIS Watch.

SUBversive · 1 May 2013, 04:00 PM

My business depends on time and billable hours. So I need to measure time as a major part of my business, yet every year when I ask my CPA if there is any way the IRS allows for the purchase of some random time keeping device, manufactured by an obsecue company in Switzerland he just laughs at me. I'll never understand the tax code.....

versatile1 · 2 May 2013, 01:00 AM

It's nothing anyone should feel sorry about.
It's a material object that does nothing for my physical health and well being so its no great loss.
I'm not into the whole saving for a rainy day thing.
I'd rather put a Rolex on my wrist then save a wack of cash. If lI buy right and need to sell, like I said, its money in the bank
No heart break

doubleinfive · 2 May 2013, 02:07 AM

One gives you time and the other makes you serve time...

Another example of the top 2% paying their fair share in taxes...

2 May 2013, 09:26 PM	#8
cop414 TRF Moderator & 2024 SubLV41 Patron Join Date: Apr 2012 Real Name: Tim Location: Pennsylvania Watch: 14060M Posts: 72,234	This sucks, sorry to hear. Better to have no tax debt and save up for another Daytona though. __________________ Rolex Submariner 14060M Omega Seamaster 2254.50 DOXA Professional 1200T Card carrying member of TRF's Global Association of Retro-Grouch-Curmudgeons TRF's "After Dark" Bar & NightClub Patron P Club Member #17 2 FA ENABLED

1 May 2013, 05:08 AM	#9
Puffy "TRF" Member Join Date: Oct 2009 Location: Here and there Posts: 12,485	you need to start engaging in tax avoidance so you don't have to sell your earthly possessions! __________________ Fine Quality is Long Remembered After the Pain of Spending Money is Forgotten

1 May 2013, 07:51 AM	#20
bscepter "TRF" Member Join Date: Jan 2011 Real Name: Patrick Location: Omaha Watch: 16610 Submariner Posts: 948	taxes are the burden of a civilized society... but it still sucks when you have to pay in april. /owed this year too __________________ 2009 16610 Submariner Date 1971 1601 Datejust 1966 Omega Seamaster 1965 Vulcain Voyager Chronograph

1 May 2013, 03:31 PM	#26
sleddog TRF Moderator & 2024 SubLV41 Patron Join Date: Jul 2007 Real Name: Rob Location: Nearby. Posts: 24,931	It's a vicious cycle that comes by but once a year........thank goodness! Just coughed up a fair chunk of change myself today, but the trick is to not have to sell! In any case, you did the right thing by removing yourself from the red ink of the taxation department! Here's hoping a Daytona returns soon enough! __________________ He who wears a Rolex is always on time, even when late!! TRF's "After Dark" Bar & Nightclub Patron-Founding Member..

1 May 2013, 03:59 AM	#2
eric23 "TRF" Member Join Date: Apr 2008 Real Name: Eric Location: Calgary Posts: 9,595	That sucks!

1 May 2013, 04:06 AM	#3
boogiebot "TRF" Member Join Date: Apr 2011 Location: canada Watch: me post! Posts: 3,804	only two things that ever freaked me out are taxes and the dentist

1 May 2013, 04:48 AM	#5
roger0770 Banned Join Date: Nov 2009 Location: On Earth Watch: A Few Posts: 1,510	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.

1 May 2013, 04:58 AM	#6
Speed "TRF" Member Join Date: Aug 2009 Location: USA Posts: 19,706	Sounds like you need to do some tax planning - in advance.

1 May 2013, 05:08 AM	#7
nick c Banned Join Date: Feb 2012 Location: Canada Posts: 26,846	Best of luck I was there too

1 May 2013, 06:30 AM	#10
Nycturbovr6 "TRF" Member Join Date: Aug 2012 Location: New York Posts: 7,630	Sorry to hear that. Maybe next year

1 May 2013, 06:47 AM	#11
tlbarrs "TRF" Member Join Date: Feb 2012 Real Name: Mark Location: uk Derbyshire Posts: 434	I feel for you, i had a similar thing happen to me several weeks ago. Not to go in to too much detail but i have been fighting a legal case for the last couple of years and had a final bill arrive in the post a bit of a shock to say the least. So doing the responsible thing i sold my Sub 14060m to pay the bill, It was heart braking when i handed it over to the guy who bought it. The week after i had sold it an art dealer who i had brought a rare piece of art from called me up to ask if i would be interested in selling it as they had a client who was desperate for it, they offered me 3 times what i had paid and the deal was done. Needless to say i went straight to the local AD and i now own the Hulk so it just goes to show these things have a funny way of working them self's out.

1 May 2013, 06:49 AM	#12
RolexDivers Banned Join Date: Jul 2012 Location: BIG BEAR, CA Posts: 1,468	The way I do it is that I tell IRS to cut the maximum out of each paycheck .... then when I do my taxes, it is the IRS that owes me $$ .... usually enough to buy a couple of DSSDs...but that money goes into the family fund so it is not for watches....

1 May 2013, 07:09 AM	#14
Rolex-10 Banned Join Date: Mar 2013 Location: UK Posts: 288	You knew you had to pay tax didn't you?

1 May 2013, 12:46 PM	#21
10XRolex 2024 Pledge Member Join Date: Aug 2012 Location: New Jersey, USA Posts: 1,593	I'm right there with you but I refused to sell to pay the Uncle. I'm just moving funds around to make it happen. Tim

1 May 2013, 02:15 PM	#22
mikkolopez "TRF" Member Join Date: Sep 2010 Location: Philippines Posts: 2,301	The price of being free of the IRS.

1 May 2013, 02:44 PM	#23
ra's ag "TRF" Member Join Date: Mar 2012 Real Name: David Location: NYC & Scottsdale Watch: The next one... Posts: 296	I'm with you. I was planning on buying the AP diver last month. My tax bill set that back for a few months.

1 May 2013, 03:26 PM	#24
Hairdude1 "TRF" Member Join Date: Apr 2012 Real Name: Alex Location: Chicago Watch: AP,PP, Rolex Posts: 37,156	Sorry to hear man!

1 May 2013, 03:31 PM	#25
Apdl "TRF" Member Join Date: Jun 2012 Location: Lakeville, MN Watch: 126610LN Finally! Posts: 414	Right thing indeed

1 May 2013, 03:53 PM	#27
polarinda "TRF" Member Join Date: Mar 2011 Real Name: Trav Location: singapore Watch: it Posts: 2,316	Every month, i pay the taxdevil to service HIS Watch.

1 May 2013, 04:00 PM	#28
SUBversive Banned Join Date: May 2011 Location: ri Watch: Sun Dial Posts: 14,346	My business depends on time and billable hours. So I need to measure time as a major part of my business, yet every year when I ask my CPA if there is any way the IRS allows for the purchase of some random time keeping device, manufactured by an obsecue company in Switzerland he just laughs at me. I'll never understand the tax code.....

2 May 2013, 01:00 AM	#29
versatile1 "TRF" Member Join Date: Jun 2012 Real Name: Jeff Location: Nanaimo, B.C. Watch: DJ2 Blue Romans Posts: 1,980	It's nothing anyone should feel sorry about. It's a material object that does nothing for my physical health and well being so its no great loss. I'm not into the whole saving for a rainy day thing. I'd rather put a Rolex on my wrist then save a wack of cash. If lI buy right and need to sell, like I said, its money in the bank No heart break

2 May 2013, 02:07 AM	#30
doubleinfive "TRF" Member Join Date: Aug 2012 Location: CA Posts: 655	One gives you time and the other makes you serve time... Another example of the top 2% paying their fair share in taxes...

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