21 year old with 150k bankroll, 80k income and never has paid taxes

fut · #1 (**permalink**) 11-13-2008, 10:08 PM

The subject pretty much sums it up. I run a business online that i started when I was 18. it has done well, but i've never paid taxes on anything, haven't started a business, etc.

I did invest some money into Scottrade and now i'm getting mail from the IRS saying I haven't paid taxes for 2006 because of it.

So basically I am screwing myself over here unless I handle this immediately. I need to atlk to someone who can help me with my finances.

1) What do you recommend I do in my situation?
2) Can your recommend the best way to find the best quality (for the money) finance advisor to help straighten a few thigns out with both the government and my business situation.

Thanks so much for your help.

david007 · #2 (**permalink**) 11-14-2008, 03:19 AM

Quote:

Originally Posted by fut

2) Can your recommend the best way to find the best quality (for the money) finance advisor to help straighten a few thigns out with both the government and my business situation.

Seeking professional help is one of the best possible way to handle your financial needs. You can try WiserAdvisor.com to find financial advisor best suit to your needs.

sumcontent · #3 (**permalink**) 11-17-2008, 11:48 PM

I would find a local tax professional as well as possibly find a legal representative who is used to dealing with the IRS, etc. That is a lot of money to come through over a period of a few years to be able to get away with because some of the money you would have more than likely had to pay sales tax on as well as paid income taxes. I would try to find professional help as soon as you can because you could get into some serious trouble with this and you don't want that at such an early age to haunt your record.

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