Taxes - Arrrgh!!

Hi All,

The last four years we have wound up having to pay additional taxes at the end of the year. These were years, when I felt like we were struggling financially.

So I guess that was part of the reason, aside from being very busy with teaching economics, I'm just getting around to putting our data together now. I'm going to send the data off to an accountant, who will actually prepare the forms. Off the top of my head, though it looks like we probably will owe again. This is one of those days where I feel like my life is on top of me, instead of vice versa. My husband is useless when it comes to this type of thing, so it is all on my shoulders. Still have more receipts, etc., to find, and some discrepancies to get to the bottom of.

Thanks for listening.

EJ

Can you go to your employer and have them take out more money each pay check so you don't have to owe money at the end of the year?

That's what my mom did the year I got married since my parents couldn't claim me as a dependent any more, they took extra money out each paycheck and ended up getting some back.

This sounds like my daily life!!! I administrate the books for my husband's business and it is an ongoing struggle to reconcile the books when the slips are invisible. I have to submit a tax return (and usually owe) every two months.

I think I feel and know your frustration. Especially on the paying part!

One day at a time,

Thank you for your suggestion.

Since I was laid off from my employer of 17 years, four years ago, I have had multiple employers each year. I think I may be staying with my current employer, but I'm being paid so little, I can't imagine asking to have more taxes taken out. Maybe it won't be so bad next year.

EJ

Hi Jane! I am amazed at how much the Govt. takes out of most peoples paychecks. My 4 grown children pay out through the nose! Phew!

Thanks, Dottie!

When I used to make a lot of money, it didn't hurt so much!!

EJ

Sabrina -

I hated it when my husband had his own business.

The government takes a lot of money from business owners too.

I think it's just hard to stay afloat these days.

Thanks for posting.

EJ

Dottie -

Your comment about your children made me think of something. If I could only pay my taxes with some pounds of flesh, I could lose weight, and satisfy my debt to the government. Trying to find some humor here, at least your note has helped me feel a little better.

EJ

I feel for you...I know I have owed over 2000 in STATE taxes the last year and this year it looks like cause I used my whole ummmmm 401k I will owe..even with all my medical deductions so..I didnt finsih doing my taxes ,,,,I will ostrich it out..BUT a smart idea would be to put am estimated amout aside in an intrest bearing account then IF you owe you will have made a little off what the blood suckers want

((((((((((((( EJ ))))))))))))))

I'm sorry you're having a hard time. I hope you feel better soon and that you find at those receipts you need.

Hugs,

Jan

Sleeps -

Yes, part of our problem is that we have made withdrawals from my husband's IRA this year. I have left some in there earning money to cover taxes. Things have been hectic enough that it may not be the perfect amount.

EJ

EJ... EXACTLY its not like we took it for fun...there should be no tax on these things....people have them for an er IMO...On paper cause I took sooooooo much out I look like I made a bundle and it stands in the way to get any aid...cause they look at..last years taxes

Sleeps -

Can you take your statement to them, and say, see it's gone now? This stream of funds will not provide for my support in 2006. It seems really hard to find people who can think, and not go by stupid rules, which shouldn't apply. Keep me posted.

EJ

Hi Sleeps. You should give them a call(like EJ711 said)....You should be able to turn this around.