kinglewy
Banned
- Joined
- Sep 3, 2011
- Messages
- 2,252
I am tile guy by trade and a sub-contractor. General contractors sub-contract me work and taxes never come out. I have never filed taxes in my life and I am 36. When tax time came around there was never much money to give them anyway, the busy and slow times of a tradesman are rough, when your slow you want to hold onto your money to sustain you until things pick up and when your busy you want to stash it for the next time you get slow. You never seem to get ahead.
Well long story short I stop at home depot to get material for the current job and my card gets denied. I thought for sure there must be some type of computer error or something. so I go to the bank to find out that the irs has levied both my business and personal accounts, they literally took every last dime and basically as a business have wiped me out. even if I was to get a call tomorrow for a big job I wouldn't be able to front the material costs and pay guys wages to help.
And to top it off a couple of the contractors called me and said they have received notice of levy against any 1099 earnings I may earn, which means anything they owe me they have to forward to the irs. The first blow was rough but the second was disastrous, a lot of these contractors aren't necessarily on the up and up tax wise so all the notices did was scare them away from giving me any work.
Called a tax attorney and they want $5000 retainer lol. He obviously didn't hear me when I told him they wiped me out.
Sorry for such a long rant but if anyone has any advice or has gone through this themselves I would appreciate any info. Thanks in advance.
Well long story short I stop at home depot to get material for the current job and my card gets denied. I thought for sure there must be some type of computer error or something. so I go to the bank to find out that the irs has levied both my business and personal accounts, they literally took every last dime and basically as a business have wiped me out. even if I was to get a call tomorrow for a big job I wouldn't be able to front the material costs and pay guys wages to help.
And to top it off a couple of the contractors called me and said they have received notice of levy against any 1099 earnings I may earn, which means anything they owe me they have to forward to the irs. The first blow was rough but the second was disastrous, a lot of these contractors aren't necessarily on the up and up tax wise so all the notices did was scare them away from giving me any work.
Called a tax attorney and they want $5000 retainer lol. He obviously didn't hear me when I told him they wiped me out.
Sorry for such a long rant but if anyone has any advice or has gone through this themselves I would appreciate any info. Thanks in advance.