I seem to owe every year. I own three investment properties and somehow I still owe. I've gone to three different accountants in the last six years, and have owed for all six. It is a bit depressing as every year I tell my wife, I think we're getting a refund this year! ...and it never happens.
Now, for 2009, we gave birth to triplets, so I am hoping when I file in 2010, I can get the tax credits on the kids and that will make up the shortfall.
Since you're untethered, why not take a year and teach in Patagonia, Chile? http://bit.ly/MxsO8. It's the travel bargain of the year - $1200 for 12 months including homestay and meals. You even get a small stipend. I'm sure you know there are tons of programs like this. Seriously, it's a cliche, but so true: do it when you can. When will you be in this position again? You don't want to look back and say "I wish we'd..." All you have is now, after all - at least according to E. Tolle.
im hoping i get a refund! i thought about changing my w4 because im currently claiming no exemptions. but im worried about owing at the end of the year. im in a situation where i know i couldnt set aside some of the extra money in case i did owe, i would put it all towards bills.
im currently look for a another part time job, my other was seasonal and ended a month ago, im going to be in serious trouble soon.
was thinking about selling something on the side (like avon, pampered chef, etc.) but i heard someone else talking about how that messed up their refunds.
If I didn't work out of my office at home I don't know what I would have done. Our really old big dog became very ill, lost weight and basically collapsed. I spent a weekend hand feeding the dog because she could barely lift her head. We eventually figured out what is wrong with her but there is no way I could have given her adequate attention if I was working 50+ hours a week on the other side of town and out of town for meetings. Not to mention getting her in to see the vet.
Too many people discount dog training. It isn't optional. An untrained dog will develop all sorts of bad habits. Like eating the linoleum off your floor, biting the neighbor kids or otherwise trashing your house.
This is a very useful and detailed post. It is certainly helpful to chart out how your money should be divided and managed between short and long term goals and emergency funds. This article will definitely help people in thinking in the right direction about how to begin planning and managing your short-term funds.
These are some great tips on when to pay off debt and how to go about the process step by step. I agree with you that having an emergency fund is absolutely vital before beginning to aggressively pay of the debt.
You could get a safety razor or something like a shavette (straight with disposable razor blades).
I have a straght, but use a shavette for traveling because I'm afraid of loosing my straight. The shavette (now I'm starting to sound like advertising) is cheaper, but more importantly I can take it with me on board (same with a safety razor I'd bet. Just take out the blades and but them in you check-in-luggage (or buy new).
Took a plane yesterday and the control was very interested in my shavette, looked into my bag and took it out to check for sharp edges. But no pat down.
Great ideas! Going on forums of popular vacation planning websites such as Tripadvisor can also help find recommendations from others who have already visited the country/city and found any good deals on travel method/food/accommodation etc.
Interesting list of iPhone apps to help you save money for your business. Considering the growing amount of people buying iPhones these days, it is definitely useful for them to track their expenses on their phone through the help of various apps.
Great tips for a budgeted holiday! People usually go overboard and spend a whole lot of money on fancy restaurants and pricey hotels when you can survive with the alternatives above and keep that money aside for real adventure.
Dude, why are you buying disposable blades so frequently? I, like you, shave about 2x a week, and one of those blades will last me months when properly rinsed. I bought an 8-pack so long ago I can't even remember.
I'm self employed, and find April-June to be tough months for me. Any tax due for the prior year must be paid, estimated taxes for the 1st quarter of the new year must be paid and I put a lump sum payment into my SEP and (if I qualify) my Roth IRAs. And then 2 months later the IRS wants 3 months of estimated tax payments even though I usually haven't been paid for one of those months yet!
If I calculate improperly, all of those payments can wipe me out, which isn't fun. Ideally, I want the federal taxes due to be close to what I paid so I'm not paying too much through the year and also not stuck with a huge tax payment due on April 15.
One thing I've learned that is convenient is that any refund due back to you can be applied towards the next year's taxes. And since self employed people are often sending in quarterly estimated tax payments, you can just have the overage applied towards the next payment due. No more worries about when you will get your money back!
Allergies were one reason for us to be happy to have two pets already when we got children. Children growing up on farms have significantly fewer allergies than children from cities. The hygenie hypothesis says to this that children's immune systems need activity, e.g. against animal germs; otherwise they might run amok and cause allergies.
rjwilcox:
> Razor blades don't degrade from shaving; they corrode from the moisture that remains on the the blade after you're done shaving.
That's interesting. When I shaved, I used each cartridge for about a week. I cleaned it with warm water and blow it dry by mouth, to see if the hair was gone - I didn't know that blowing increased its life, I assumed that the shaving itself wore it out.
I expect a federal tax refund this year, but I live in California so I might be looking at an IOU on that end. I've been using H&R Block for the past couple years and I like it. Quick and easy. If you do it online there is live help, and they keep a record of all my previous returns which I like if I need to refer back to them for any reason.
All these recommendations, but have you tried to search them all at once? I get the best results that way. Just look up book price comparison sites (example: http://www.bookspy.net/). They let you search all the bookstores online at the same time and returns to you a list of the lowest prices, condition, etc... Great tool
But I actually prefer paying taxes. It means that I haven't given the government a free loan. I always try to invest/save a good portion of my paycheck, so I figure that I'll have a better chance at making a bit of interest should there not be enough taken out of my paycheck. Of course, I'll then have to pay taxes on that interest, so maybe it's not the best idea in the world, but I just don't like giving the government an interest free loan. They don't give me any!
I don't particularly like letting Uncle Sam have my money to play with all year then getting it back in a big lump, but I prefer a refund to the alternative of having to pay more when I file than I've already paid through payroll deductions. So we try to cut it close but err on the side of caution. Our son being in college has helped us get refunds even when we cut it a little too close on payroll deduction calculations. Both the hubster and I have run our own businesses in the past, and for all situations (self-employed and not), I recommend getting a good tax prep software package. We use TaxCut but I'm sure others are good, too. It just makes me more confident that I'm not missing anything.
I am getting nothing back this year. I am scrapping by and have missed getting my Zolaf for a week now not having the cash to get them. And the cost is only $8.00. With all that is going on I am just thankful my 2 adult kids are grown and on thier own and are not affected by thier mom's poverty.
No cash and no medical coverage leaves you in doubt if living life is really worth living witch is not my normal way of thinking.
To offset grocery prices I planted a garden this year my very first. All the rain is making my harvest very very poor which in itself very disheartening.
I so worry about our nation's future.
One word: VITA. Look for a VITA site in your area at tax season. VITA stands for Volunteer Income Tax Assistance. This is a tax filing service that most people can use. As long as your taxes are not complicated, these sites have IRS-trained volunteers that prepare and submit your tax returns online. You avoid preparation fees, filing fees, and refund anticpation loans. Avoid paying to get your money and go with a VITA site. They are everywhere.
I seem to owe every year. I own three investment properties and somehow I still owe. I've gone to three different accountants in the last six years, and have owed for all six. It is a bit depressing as every year I tell my wife, I think we're getting a refund this year! ...and it never happens.
Now, for 2009, we gave birth to triplets, so I am hoping when I file in 2010, I can get the tax credits on the kids and that will make up the shortfall.
Since you're untethered, why not take a year and teach in Patagonia, Chile? http://bit.ly/MxsO8. It's the travel bargain of the year - $1200 for 12 months including homestay and meals. You even get a small stipend. I'm sure you know there are tons of programs like this. Seriously, it's a cliche, but so true: do it when you can. When will you be in this position again? You don't want to look back and say "I wish we'd..." All you have is now, after all - at least according to E. Tolle.
Best of luck with your decision!
im hoping i get a refund! i thought about changing my w4 because im currently claiming no exemptions. but im worried about owing at the end of the year. im in a situation where i know i couldnt set aside some of the extra money in case i did owe, i would put it all towards bills.
im currently look for a another part time job, my other was seasonal and ended a month ago, im going to be in serious trouble soon.
was thinking about selling something on the side (like avon, pampered chef, etc.) but i heard someone else talking about how that messed up their refunds.
i dont know what to do, so i do nothing...
If I didn't work out of my office at home I don't know what I would have done. Our really old big dog became very ill, lost weight and basically collapsed. I spent a weekend hand feeding the dog because she could barely lift her head. We eventually figured out what is wrong with her but there is no way I could have given her adequate attention if I was working 50+ hours a week on the other side of town and out of town for meetings. Not to mention getting her in to see the vet.
Too many people discount dog training. It isn't optional. An untrained dog will develop all sorts of bad habits. Like eating the linoleum off your floor, biting the neighbor kids or otherwise trashing your house.
This is a very useful and detailed post. It is certainly helpful to chart out how your money should be divided and managed between short and long term goals and emergency funds. This article will definitely help people in thinking in the right direction about how to begin planning and managing your short-term funds.
These are some great tips on when to pay off debt and how to go about the process step by step. I agree with you that having an emergency fund is absolutely vital before beginning to aggressively pay of the debt.
You could get a safety razor or something like a shavette (straight with disposable razor blades).
I have a straght, but use a shavette for traveling because I'm afraid of loosing my straight. The shavette (now I'm starting to sound like advertising) is cheaper, but more importantly I can take it with me on board (same with a safety razor I'd bet. Just take out the blades and but them in you check-in-luggage (or buy new).
Took a plane yesterday and the control was very interested in my shavette, looked into my bag and took it out to check for sharp edges. But no pat down.
Great ideas! Going on forums of popular vacation planning websites such as Tripadvisor can also help find recommendations from others who have already visited the country/city and found any good deals on travel method/food/accommodation etc.
Interesting list of iPhone apps to help you save money for your business. Considering the growing amount of people buying iPhones these days, it is definitely useful for them to track their expenses on their phone through the help of various apps.
Great tips for a budgeted holiday! People usually go overboard and spend a whole lot of money on fancy restaurants and pricey hotels when you can survive with the alternatives above and keep that money aside for real adventure.
the blades stop giving me a good shave after 3 uses. Maybe different people have different beards, but after that I notice a difference.
Dude, why are you buying disposable blades so frequently? I, like you, shave about 2x a week, and one of those blades will last me months when properly rinsed. I bought an 8-pack so long ago I can't even remember.
I always try to have my stuff to my accountant by 2/15. Then I get in before the rush and get my return in two weeks max.
I do not like getting money back, but with a couple rental properties it is too difficult to estimate how much to adjust my withholding.
plus my accountant is quite conservative.
I'm self employed, and find April-June to be tough months for me. Any tax due for the prior year must be paid, estimated taxes for the 1st quarter of the new year must be paid and I put a lump sum payment into my SEP and (if I qualify) my Roth IRAs. And then 2 months later the IRS wants 3 months of estimated tax payments even though I usually haven't been paid for one of those months yet!
If I calculate improperly, all of those payments can wipe me out, which isn't fun. Ideally, I want the federal taxes due to be close to what I paid so I'm not paying too much through the year and also not stuck with a huge tax payment due on April 15.
One thing I've learned that is convenient is that any refund due back to you can be applied towards the next year's taxes. And since self employed people are often sending in quarterly estimated tax payments, you can just have the overage applied towards the next payment due. No more worries about when you will get your money back!
> 5. Be on the alert for allergies
Allergies were one reason for us to be happy to have two pets already when we got children. Children growing up on farms have significantly fewer allergies than children from cities. The hygenie hypothesis says to this that children's immune systems need activity, e.g. against animal germs; otherwise they might run amok and cause allergies.
I hope I will get refund, I use H and R Block too. They are really helpful if you get audited.
rjwilcox:
> Razor blades don't degrade from shaving; they corrode from the moisture that remains on the the blade after you're done shaving.
That's interesting. When I shaved, I used each cartridge for about a week. I cleaned it with warm water and blow it dry by mouth, to see if the hair was gone - I didn't know that blowing increased its life, I assumed that the shaving itself wore it out.
I expect a federal tax refund this year, but I live in California so I might be looking at an IOU on that end. I've been using H&R Block for the past couple years and I like it. Quick and easy. If you do it online there is live help, and they keep a record of all my previous returns which I like if I need to refer back to them for any reason.
All these recommendations, but have you tried to search them all at once? I get the best results that way. Just look up book price comparison sites (example: http://www.bookspy.net/). They let you search all the bookstores online at the same time and returns to you a list of the lowest prices, condition, etc... Great tool
But I actually prefer paying taxes. It means that I haven't given the government a free loan. I always try to invest/save a good portion of my paycheck, so I figure that I'll have a better chance at making a bit of interest should there not be enough taken out of my paycheck. Of course, I'll then have to pay taxes on that interest, so maybe it's not the best idea in the world, but I just don't like giving the government an interest free loan. They don't give me any!
I don't particularly like letting Uncle Sam have my money to play with all year then getting it back in a big lump, but I prefer a refund to the alternative of having to pay more when I file than I've already paid through payroll deductions. So we try to cut it close but err on the side of caution. Our son being in college has helped us get refunds even when we cut it a little too close on payroll deduction calculations. Both the hubster and I have run our own businesses in the past, and for all situations (self-employed and not), I recommend getting a good tax prep software package. We use TaxCut but I'm sure others are good, too. It just makes me more confident that I'm not missing anything.
I am getting nothing back this year. I am scrapping by and have missed getting my Zolaf for a week now not having the cash to get them. And the cost is only $8.00. With all that is going on I am just thankful my 2 adult kids are grown and on thier own and are not affected by thier mom's poverty.
No cash and no medical coverage leaves you in doubt if living life is really worth living witch is not my normal way of thinking.
To offset grocery prices I planted a garden this year my very first. All the rain is making my harvest very very poor which in itself very disheartening.
I so worry about our nation's future.
One word: VITA. Look for a VITA site in your area at tax season. VITA stands for Volunteer Income Tax Assistance. This is a tax filing service that most people can use. As long as your taxes are not complicated, these sites have IRS-trained volunteers that prepare and submit your tax returns online. You avoid preparation fees, filing fees, and refund anticpation loans. Avoid paying to get your money and go with a VITA site. They are everywhere.
Great post! And I loved the pictures too.
Wow thanks for this, I LOVE doing volunteer work and I will definately check some of these out!