I remember a time when tax day was something to kind of look forward to, back when I had a full-time job that held some money back from me every year and a few minutes banging on the ole TurboTax machine gave the promise of hundreds of dollars in refunds. Then I quit that, started freelancing and took a part time job that didn’t even withhold enough money to help me this year, and now every April promises to be a Battan death march plowing through my meager savings account and delaying my dreams of buying a new surfboard for the 15th consecutive year. But what are we to do until President Ron Paul chucks out the whole tax code?
Let’s commiserate or gloat again: Are you getting a refund this year, or do you owe? How much? You can be anonymous in the comments if you like, but then we can’t hit you up to buy us pity beers with your sweet refund. Whoever has the biggest number wins a free high five (which, after taxes, is only about a high two)! I’ll start with my own awful payment I made this morning.
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I have to pay NY State $1K, and the feds $3K. I could only pay about half of that now, so I have another 120 days to pay the rest, which then, of course, cuts into my tax savings for next year, and on and on and on....
Filed my very first extension this year. Thus effectively putting off the inevitable.
I will definitely owe.
If you are a freelancer
PAY QUARTERLY!
Turned to Turbo Tax this year. Got back just over $2K but I get TONS taken out during the year so it's actually less that I've gotten in the past. Sadly, it's already been spent on my London vacay blowout and my big move to Greenpoint.
I had to pay New York $750 just for the two months I lived there in 2011. Got back about 2k from the feds since I make them take the max out of my paycheck and about $400 from NJ.
However, I'm also on a payment plan to MD for six months in 2007 when I lived there but didn't pay them taxes for that privilege, since I worked in DC. Oops. With late penalties, blah blah, it's $220 a month for about 20 months. It makes the $750 feel a lot less painful. It also taught me not to succumb to the temptation of perpetual extension...but still, the lesson could have been just a little less expensive. Oy.
Crap is this what I have to look forward to next year?? I had a full time salary job last year so I got back enough for a mini shopping spree and a few nights without having to drink PBR+whiskey value meal. Plus, somehow, and I know this sounds insane, the State of New York determined I was eligible for earned income credit in 2008 and sent me a check for $419! Crazy. Spent it on booze, clearly.
I got back 1K but owed around $250. I had to file for 3 different states...it was a total fucken mess.
Still perpetually broke. I drink Leffe, Shock Top and Lagunitas mostly though, PBR tastes like shit. Beer in general makes me happy, especially after finishing my taxes.