I hate taxes!!!!

geegee827 Posted: Feb 23, 2009 05:05 PM

I hate taxes!!!!

I'm ready to cry. I just found out that I actually OWE taxes this year! $3,000!!!!!! I had a feeling my refund wasn't going to be all that much this year, but I wasn't prepared for this!!!

I'm getting a teeny, tiny refund from the feds, but owe $2,982 to NYS!!! I want to move out of state soooooooooo bad!!!!

I honestly feel like throwing up right now.

littlepixie12 Posted: Feb 23, 2009 05:07 PM

Re: I hate taxes!!!!

are you sure they did it right? maybe you should take them to another accountant?

gina409 Posted: Feb 23, 2009 05:08 PM

Re: I hate taxes!!!!

omg!!!!! im so sorry..that stinks..why do u have to pay so much?

Debrian2009 Posted: Feb 23, 2009 05:08 PM

Re: I hate taxes!!!!

Who did your taxes???

Usually, people do owe the state some money...but that sounds very high!

A lot of times there isn't enough withholding on peoples' wages and that's why they get socked with the state.

FM if you have questions...I'm an accountant....

Cacarina Posted: Feb 23, 2009 05:11 PM

Re: I hate taxes!!!!

What? That is insane!!! Did you not get any NYS taxes taken out of your paycheck at all? That doesn't really sound right!!! Good luck...I hope that is a mistake!

Deeglasser Posted: Feb 23, 2009 05:12 PM

Re: I hate taxes!!!!

i hope you figure out what happened!!!! do you look at your pay stubs from your job? i just wonder if they are taking anything out... what do you claim?

Deeglasser Posted: Feb 23, 2009 05:13 PM

Re: I hate taxes!!!!

i've had to pay in the past... the most i've paid was about $700... ugh... i know how you feel. it's one of those unexpected things...

geegee827 Posted: Feb 23, 2009 05:17 PM

Re: I hate taxes!!!!

my accountant (who I've been using for years) did them. I switched jobs at the end of 2007. Apparently, this new firm has been deducting the wrong number since I started. I didn't notice it this year because like you all said, I usually end up owing the state a little bit but not this much. My accountant didn't pick up on it either because I started the new job in November so he didn't see the huge difference.

I came into work today and checked with payroll even though I filled out the W-4 correctly, they have been taking '3' dependents every week!!!

As far as the Feds go, I got hit with the Alternative Minimum Tax - which I guess I shouldn't complain because that means 2008 was a good year for me financially, but at this rate '09 isn't going to be.

alli3131 Posted: Feb 23, 2009 05:17 PM

Re: I hate taxes!!!!

I owe to both NYS and the Fed's.....the good news is....well not really good news but because the economy is so bad they are being very lenient about payment plans. SO try and set up a plan that way its not a hug it at once.

geegee827 Posted: Feb 23, 2009 05:20 PM

Re: I hate taxes!!!!

Posted by alli3131

I owe to both NYS and the Fed's.....the good news is....well not really good news but because the economy is so bad they are being very lenient about payment plans. SO try and set up a plan that way its not a hug it at once.

That's good to know. I might have to set up a payment plan....

Cacarina Posted: Feb 23, 2009 05:21 PM

Re: I hate taxes!!!!

Posted by geegee827

Posted by alli3131

I owe to both NYS and the Fed's.....the good news is....well not really good news but because the economy is so bad they are being very lenient about payment plans. SO try and set up a plan that way its not a hug it at once.

That's good to know. I might have to set up a payment plan....

Good luck...that really stinks!!!

pooh57362 Posted: Feb 23, 2009 07:57 PM

Re: I hate taxes!!!!

I got F-ed on my taxes too. I got a 2nd job to help pay for the wedding and they didn't take out enough money in taxes. My accountant worked it out where I don't owe anything but I'm barely getting back $$. I usually get a nice chunk back and I was banking on that this year to help pay for the wedding - UGH now I can't. This *****!!

NikkiR515 Posted: Feb 23, 2009 08:08 PM

Re: I hate taxes!!!!

I am so sorry to hear that!!!

I am dreading doing my taxes this year!

10102009Bride Posted: Feb 23, 2009 08:36 PM

Re: I hate taxes!!!!

This is how I look at it.
Why people love to give free money to government? I rather pay on April 15.

Its ether u pay more during the year and then get your OWN money back or you do a small withholding and get the actual cash which can be deposited in your bank account and earn you interest until April 15.
Why give up interest income or have the opportunity to use your own money when you need it.

When you get a refund it’s your own money that you overpaid in taxes.

This year I owe about $5,000. I knew it all along… Instead giving it to government throughout the year I was using my money and earning interest on it. Just needed to make sure that I have enough by April 15. $5,000 at 4% of interest just from January 1 to April 15 is $70 in interest income. I know it’s not much… but it’s also the opportunity for having your money when you need it.

Get a good accountant who can do a good projection for you.
Also, you might want to discus with him/her that you are getting married this year and will be probably filling joint 2009 return. Combined incomes can put you in a different tax bracket. Also, you might consider changing your withholding.