The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success

15k Tax Dept With 21

Remove ads while supporting the Unscripted philosophy...become an INSIDER.

xxlfire

New Contributor
Aug 28, 2017
16
11
19
25
Germany
Hello,
i am trying to make this as short as possible.
I was earning a good amount of money in 2016.
I also put the tax money on a separate bank account so i cant accidentally spend it.
But after half a year my money was spend and nothing new was coming in anymore.
So i started to use the tax money to buy food etc.

Now i am at a point where the money is gone and i don't know what to do.
The E-Mail that i have to pay the tax money could basically come every day and i don't know what to
do. Its a lot of money, 15k to be specific and i don't know why nothing i am doing is working..
I learned a lot of stuff on here and already know a lot about Facebook Ads etc, i also know that it is possible to make that money since there are people making 100k+ a month in profit.

What got me some sales was Shopify + Facebook Ads. But it wasn't enough at all.
Just like 6 sales in 2 days and then it was over again.

The problem was that i never had earned that much as i did in 2016 and that i couldn't handle
the money and just spend it too fast. Well i learned it the hard way now.
I just don't know what to do right now.
 

Don't like ads? Remove them while supporting the forum. Subscribe.

theag

Most Aggressive Guy on the Internet on the Planet
EPIC CONTRIBUTOR
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Jan 19, 2012
3,763
10,783
2,456
- Talk to a tax advisor to get you more time to pay. You will pay interest on the amount owed. Maybe you need to get a credit to pay the taxes to avoid fees or charges.
- If you don't have business income you have to get a job.
- Next time get a tax advisor, accountant etc from the beginning.

If you want to be successful in business you should be able to come up with these ideas yourself. This is Adult Life 101.

Obviously you shouldn't have spent your tax savings and got a job earlier instead, because you're basically f*cked now.

But 15k isn't a lot of money. So probably bullet dodged.
 

Knugs

Silver Contributor
FASTLANE INSIDER
Read Millionaire Fastlane
Speedway Pass
Jan 10, 2016
304
525
253
29
Be aware that the Finanzamt (taxman) won't care about your circumstances and as soon as you get the letter, you will also get a deadline by which you have to have paid your tax (days). The biggest slap in the face is that the "frist" starts from the date they sent it and not when you receive it. I remember when my Dad got a "Nachzahlung" (because they calculated tax payments wrong for 2015) and it was 90k which they had demanded in 2 days. As we were on holiday, he opened the letter late. I remember the stress this had caused because although he expected it, he only put aside 65k for this scenario. He had to borrow the rest from friends which was quite embarrassing.

Point of the story is that the German tax man is ruthless (as the case in many other countries).
Sell what you have, borrow, credit and get jobs that pay you right now.

Even if 15k doesn't sound that much they will come after you.
 

xxlfire

New Contributor
Aug 28, 2017
16
11
19
25
Germany
If I were in your shoes, I would get a job. Learn business skills on the side, and try again once you dig yourself out of the place you're in.

I am pretty sure a job wont bring me enough money in a week or so. Shopify can, like i said i had some sales but then it was over but i keep trying products ofc. But on some products i think that they are cool and might work but they don't. Or my audience targeting is bad because those cpc are just too expensive imo.
 

theag

Most Aggressive Guy on the Internet on the Planet
EPIC CONTRIBUTOR
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Jan 19, 2012
3,763
10,783
2,456
Wtf. Sounds crazy even for the Finanzamt. Hate those f*ckers. Fortunately have all my ducks in a row, but every single one of their direct debits makes me want to puke.
 

Sponsored Offers

  • Sticky
MARKETPLACE You Are One Call Away From Living Your Dream Life - LightHouse’s Accountability Program ⚡
Thanks for clearing that up. What do you recommend for those who are still in the process of...
  • Sticky
MARKETPLACE Fox Web School "Legend" Group Coaching Program 2021
I thought I would post up the first video from the newest 2021 program content... Just a...
  • Sticky
MARKETPLACE Kill Bigger Incubator
I have not offered one of these in a while, but it looks like I have time to take on an...
  • Sticky
MARKETPLACE Lex DeVille's - Advanced Freelance Udemy Courses!
Hi Lex, I looked at several options including Kajabi and settled on the Divi theme on Wordpress...
  • Sticky
MARKETPLACE Grow Your Business With a Book (An Unorthodox Marketing Strategy That Built One of the Largest...
Are you looking for a new, lesser-known but potentially very lucrative source of leads to your...
  • Sticky
FEATURED! Introducing... WEALTH EXPO$ED, A Short Story By MJ DeMarco
The story is BASED UPON a true story. The details aren't entirely accurate or from a distinct...



Forum Sponsor

Grow an online business:
- Start immediately!
- Master business skills!
- 100+ Fastlane students enrolled!
Review & Details >

New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Monthly conference calls with doers
Ideas needing execution, more!

Join Fastlane Insiders.

Top Bottom