(9 hours ago)grey_wind Wrote: 1. The reason I paid $202,241 tax in Q4 1907 (despite having lossed for the quarter) was because I owed $516,701 from 1906? Why wasn't that deducted in Q1 1907 instead of Q4 1907? I thought tax reconciliation was supposed to happen at the end of Q1 of the next FY.
Your Q4 payment in 1907 is to make up for your 1907 underpayment as most of the payment you made in Q1 went to paying your 1906 bill. Of course, you lost more money than expected that final month.
Quote:2. In Q1 1908 I got a tax rebate of $265,818 even though the govt owed me $304,650? Why wasn't the remaining $38,832 paid and settled in Q1 1908?
The $38,832 likely doesn't exist. You likely got that money back Q1 1906. I did not do your tax numbers for 1900 through 1905.
So, the government didn't owe you $304,650, they owed you $265,818 ($304,650 - $38,832), and your balance at the end of 1906 is likely also worse. As I mentioned, you'd have to do 1905 taxes... And then for that you'd have to do 1904, and so forth until you come across a year where you don't pay or get back anything.
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good human beings save the world, so that bastards like me can keep creating art, become immortal.
if you read this after I am dead it means I made it." ― Charles Bukowski