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versatile1 · 1 May 2013, 12:43 AM

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 · 1 May 2013, 12:45 AM

The price of Freedom!!

SWISSAHOLICS · 1 May 2013, 12:47 AM

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 · 1 May 2013, 12:48 AM

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 · 1 May 2013, 12:49 AM

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

1bad750 · 1 May 2013, 12:50 AM

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 · 1 May 2013, 12:50 AM

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

LightOnAHill · 1 May 2013, 12:52 AM

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 · 1 May 2013, 12:53 AM

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 · 1 May 2013, 01:02 AM

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 · 1 May 2013, 01:14 AM

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 · 1 May 2013, 01:17 AM

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 · 1 May 2013, 01:20 AM

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 · 1 May 2013, 01:28 AM

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

atashbul · 1 May 2013, 01:31 AM

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

lhanddds · 1 May 2013, 01:34 AM

Quote:

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 · 1 May 2013, 02:50 AM

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

h999r · 1 May 2013, 02:58 AM

good citizen !

wantonebad · 1 May 2013, 03:14 AM

Quote:

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 · 1 May 2013, 03:23 AM

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 · 1 May 2013, 03:26 AM

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

Sous · 1 May 2013, 03:45 AM

Quote:

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 · 1 May 2013, 03:46 AM

Quote:

Originally Posted by ChallengerSRT8

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

swils8610 · 1 May 2013, 03:46 AM

Been there. Had to do that. My sympathies.

Sent from my iPhone using Tapatalk

Duc5150 · 1 May 2013, 03:58 AM

....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 · 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.

1 May 2013, 12:43 AM	#1
versatile1 "TRF" Member Join Date: Jun 2012 Real Name: Jeff Location: Nanaimo, B.C. Watch: DJ2 Blue Romans Posts: 1,980	Tax bill = bye bye Daytona :( 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

1 May 2013, 12:47 AM	#3
SWISSAHOLICS "TRF" Member Join Date: Jan 2013 Location: Here! Watch: Rolex Posts: 4,366	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!! __________________ 16610LN \| 16613LB \| 16710 Pepsi \| 118238 \| 116500 (White) \| 116500 (Black) \| 116710BLNR \| 116610LV "The one thing I fear most is time; time waits for no one and leaves no options."

1 May 2013, 12:50 AM	#6
1bad750 "TRF" Member Join Date: Mar 2011 Location: NewYork Posts: 634	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! __________________ Rolex 116233 TT Datejust Super Jubilee Rolex 18038 Yg DD President Whiteface,roman Rolex 69173 TT Datejust Factory red Vignette diamond Rolex 118238 Yg DD White roman. Rolex 16613 2 Tone Bluesey

1 May 2013, 01:17 AM	#12
Hooper "TRF" Member Join Date: Mar 2010 Real Name: Tony Location: Ontario, Canada Watch: 16610 Posts: 3,290	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 __________________ “LIfe’s Journey is not to arrive at the grave safely, in a well preserved body, but rather to skid in sideways, totally worn out, shouting “Holy shit, what a ride!” – Hunter S Thompson

1 May 2013, 01:20 AM	#13
77T 2024 SubLV41 Pledge Member Join Date: Dec 2010 Real Name: PaulG Location: Georgia Posts: 42,015	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. __________________ Does anyone really know what time it is?

1 May 2013, 12:45 AM	#2
Director EDTF 2024 SubLV41 Pledge Member Join Date: May 2011 Real Name: Nelson Location: Central, NJ Posts: 2,466	The price of Freedom!!

1 May 2013, 12:48 AM	#4
Solo118 2024 Pledge Member Join Date: Jan 2007 Location: USA Watch: Daytona Posts: 6,091	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!

1 May 2013, 12:49 AM	#5
sea-dweller "TRF" Member Join Date: Oct 2007 Real Name: Dennis Location: Bay Area - 925 Posts: 40,018	You can buy another Daytona, next year, hopefully when you get that large refund!

1 May 2013, 12:50 AM	#7
Trouble15 "TRF" Member Join Date: Dec 2011 Real Name: Steve Location: USA Watch: A few Posts: 8,883	Sorry to hear. You can always buy the Daytona back.

1 May 2013, 12:52 AM	#8
LightOnAHill "TRF" Member Join Date: Mar 2011 Real Name: Bryan Location: Pacific Northwest Watch: YG DD lchdp Posts: 2,963	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.

1 May 2013, 12:53 AM	#9
JJL "TRF" Member Join Date: Dec 2010 Location: US Watch: 1680 Red & 16622 Posts: 2,449	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 ;)

1 May 2013, 01:02 AM	#10
versatile1 "TRF" Member Join Date: Jun 2012 Real Name: Jeff Location: Nanaimo, B.C. Watch: DJ2 Blue Romans Posts: 1,980	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

1 May 2013, 01:14 AM	#11
427shark "TRF" Member Join Date: Jan 2013 Real Name: JD Location: Jersey Watch: Dj2 tt, 126610LV Posts: 772	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

1 May 2013, 01:28 AM	#14
jason1332 "TRF" Member Join Date: Mar 2013 Real Name: Jason Location: Gnashvegas Watch: PO LM 45.5 Posts: 97	That happened to me in 09. Horrible feeling when you know the money is going to waste in the federal government.

1 May 2013, 01:31 AM	#15
atashbul "TRF" Member Join Date: Jan 2013 Location: Atlanta Posts: 35	If only we didn't have to pay taxes, we would have so many more rolexs:)

1 May 2013, 02:50 AM	#17
watchwatcher "TRF" Member Join Date: Jan 2009 Real Name: Larry Location: Kentucky Watch: Yes Posts: 35,047	Oh man, sorry to hear this. Hope you get your watch back soon.

1 May 2013, 02:58 AM	#18
h999r Banned Join Date: May 2011 Real Name: HR Location: Planet Earth Watch: -ing Barts. Posts: 4,244	good citizen !

1 May 2013, 03:23 AM	#20
porschejeff "TRF" Member Join Date: Oct 2012 Real Name: Jeff Location: Michigan Watch: DD 228238 Posts: 2,460	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!!!!

1 May 2013, 03:26 AM	#21
ChallengerSRT8 Banned Join Date: Dec 2012 Real Name: Dan Location: Paradise Watch: Tudor Hert Chrono Posts: 122	If you are paying taxes it means you are making money.

1 May 2013, 03:46 AM	#24
swils8610 2024 SubLV41 Pledge Member Join Date: Sep 2012 Real Name: shannon Location: usa Posts: 9,210	Been there. Had to do that. My sympathies. Sent from my iPhone using Tapatalk

1 May 2013, 03:58 AM	#25
Duc5150 2024 Pledge Member Join Date: Jan 2010 Real Name: TB Location: West Coast Posts: 339	Been There Done That...... ....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

1 May 2013, 03:59 AM	#26
eric23 "TRF" Member Join Date: Apr 2008 Real Name: Eric Location: Calgary Posts: 9,595	That sucks!

1 May 2013, 04:06 AM	#27
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	#29
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	#30
Speed "TRF" Member Join Date: Aug 2009 Location: USA Posts: 19,706	Sounds like you need to do some tax planning - in advance.

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