Do you ever take a year off of taxes to do them next year?

[Grant]

Have you ever taken a break for a tax year by not paying taxes for one year? Instead, you pay taxes the next year. I have never done this myself, but I am curious if you can actually do this. Can you take a year off and pay that years taxes on the next year? Or is there a requirement that you file yearly no matter what?

 

[Good-Person]

Have you ever taken a break for a tax year by not paying taxes for one year? Instead, you pay taxes the next year. I have never done this myself, but I am curious if you can actually do this. Can you take a year off and pay that years taxes on the next year? Or is there a requirement that you file yearly no matter what?

I think that it would be wise to pay the taxes when they are due in order to prevent problems. Paying taxes at the right time could save money. This is because the government may also impose penalties for late payment,.

 

[Syldan]

Well I think it depends on your country or location.
Tax are paid annually and it can not be skipped for another no matter how bad the market or the economy is. in my country, bad economy is not an excuse.

 

[Danny4cash]

Is it possible to take a year break from paying taxes? I don't think it's possible. However, it may be possible. But I have neither tried it nor see anyone who do it.

 

[Shortie]

I believe in the UK it is not possible to take a break from paying your taxes for one year and then pay them again the following year. You have to file all your taxes for that year by a set date otherwise your payments such as working tax credit can be stopped so it's always wise to file them each year regardless and not miss a year.

 

[Danny4cash]

I believe in the UK it is not possible to take a break from paying your taxes for one year and then pay them again the following year. You have to file all your taxes for that year by a set date otherwise your payments such as working tax credit can be stopped so it's always wise to file them each year regardless and not miss a year.

It's not only in U.K. it's the same almost everywhere. Once you start paying taxes, you can't take a break and come back to it. In my country, taxes are either paid yearly or monthly.

 

[tyrim88]

One of the things that every business person should by all means avoid is to run foul of the law,because there are stipulated Time frame for businesses to do all their tax fillings to avoid penalty from regulatory agencies.

 

[Shigobad2020]

Having the thought of owing people is what i hate most in life , so whenever i realises that i am owing any amount of money most especially tax , i like paying it once And not allowing it to accumulate.

 

[Emmy]

There's no how I can avoid taxes in my country because if I don't pay directly, I will pay indirectly. However I need to purchase or do activities that will incur tax every year.

 

[Good-Person]

Is it possible to take a year break from paying taxes? I don't think it's possible. However, it may be possible. But I have neither tried it nor see anyone who do it.

Well, many governments of different countries tend to offer subsidies. Apart from that, the government in here allows some people to pay taxes in the form of installments.

 

[eLdavis]

I have never done this before though, but i wont actually advice anyone to use such methods. What about in situations where things might not go too well the next year or there are a lot of financial obligations you need to sort out, what happens then? You would end up over working yourself.

 

[Agbalagbaa]

In other to prevent any problem that may arise as as the result of not paying tax on time, it's very important to pay all your tax when they are due. Someone like me, i will prefer paying small than paying much at once.

 

[Syldan]

Actually taxes are usually collected annually sometimes it's made at the beginning of each year and sometimes at the end of every year depending on the government policies and it can not be skipped for another year.

 

[Abigael]

The deadline for filing tax returns here in my country is June of every year. Failure of which you are fined. So you cannot really wait till another year, you have to do it on time to avoid fines.

 

[Good-Person]

The deadline for filing tax returns here in my country is June of every year. Failure of which you are fined. So you cannot really wait till another year, you have to do it on time to avoid fines.

I think that it differs in each and every country. There are many people who file for taxes at the end of each year in my country. This goes true for property taxes.

 

[eenya00]

in a country that has very strict laws as concerning taxation, i do not think this is a good idea as you do not know what the following year might bring and you should just try to settle it as it goes.

 

[Danny4cash]

The deadline for filing tax returns here in my country is June of every year. Failure of which you are fined. So you cannot really wait till another year, you have to do it on time to avoid fines.

I don't even think it's possible to skip year without paying taxes. Tax is a mandatory for citizen and government always have a way punishing those who default in payment.

 

[Chibson]

Having the thought of owing people is what i hate most in life , so whenever i realises that i am owing any amount of money most especially tax , i like paying it once And not allowing it to accumulate.

I think we have almost the same mindset in that regard. I actually hate to own people any amount of money, that is why I don't like taking loans from people. I have had the opportunities to take loans but I turned it down because of that.

 

[Skysaint]

That's one of the importance of working online as you wouldn't be disturbed with these kind of stuffs. The only tax I am actually paying would be in terms of transaction fees as I mostly use cryptocurrency.

 

[Nomad]

You cannot take a tax break, no matter what you are bound to pay taxes. If you don't pay the tax this year and next year when you are paying the task you will not only be paying a two-year tax but also a penalty.