Holy Crud

[Breezy]

Finally got my tangible taxes bill and I about died of a heart attack.
I was told it would probably be a couple of hundred dollars.
Ummm Yeah 705 dollars worth.
Thankfully business has picked up but dang that is a lot of money.

[bondarnes]

Originally Posted by Breezy

Ummm Yeah 705 dollars worth.
Thankfully business has picked up but dang that is a lot of money.

And it comes once a year. The good news is your stuff will be worth much less next year. The bad news is you will probably have some new stuff by then.

[Breezy]

Very true Don.
I am trying to limit what I buy. But it is hard lol.

[S-Man]

this may be a dumb question, but what is "tangibles tax" and why is it so much?

[pbyd]

Originally Posted by S-Man

this may be a dumb question, but what is "tangibles tax" and why is it so much?

After looking at your web site I would hope you already are paying all of your taxes due, but if you did not know, in Texas it is called Business Personal Property Taxes and is owed by anyone doing any business in Texas. This tax on the equipment, furniture, computers ect. that you use to make money. This is a link to the states question page on this:
http://www.tax.co.harris.tx.us/prope...proptaxfaq.asp
Wayne

[bondarnes]

Originally Posted by Breezy

Very true Don.
I am trying to limit what I buy. But it is hard lol.

Before submitting my list every year I go to e-Bay and get an idea about current values and then update my rendition. This year with selling the studio and selling off so much stuff my rendition will be about 80% less than last year. That helps to lower the bill a bit. But I am prepared for an audit over this.

[Breezy]

See the city of Norfolk won't let me give current value they want the price that was paid for and wanted proof for as much as I had proof of.
Sucks I tell you lol.
Good luck Don, hopefully you won't get audited.