Monday, February 23, 2009

The Taxman Cometh... and I am afraid

This weekend The Mr. and I got around to preparing our taxes and submitting them to the H&R Block accountant that my company hooked me up with (my company pays for me to have my taxes done since my constant traveling has all kinds of crazy tax implications).

I think we may owe some money. And by some money, I mean a LOT of money.

We saved up a bunch of $$$ this year in case we owe, but I didn't think it could be this much. I've always gotten money back from the IRS and not owed. I'm praying my H&R block dude gives me some good news. So stay tuned for part 2 of our tax saga.

How are everyone else's taxes going? Is anyone "married filing jointly" for the first time? :-)

PS- Don't know if anyone follows California news, but it looks like a budget was finally approved, which means the state can actually give refunds to those who overpaid. Too bad sales tax just went through the roof.


d.a.r. said...

Military paycheck + one student = big fat tax refund. We don't make enough to owe anything! But next year will be a different story when I am out of school, yuck.

Tim said...

Wow that really stinks. I will be praying for you guys that its not as much as you are expecting. My wife is a CPA so I totally understand. Good luck!

Love and Prayers,


Katy said...

I had mine done this past weekend. Normally I do them myself, because I am/was a dependent and in school so I didn't make much.

Well this year since I interned in Indiana and made too much money for my parents to claim me I had to pay up. :-( I only owed Indiana $23 and SC is giving me $30. But thankfully I am still in school so I get most of my federal back. I am not looking forward to next year. :-(

Newlywed Next Door said...

I think the comment feature was not working right... sad.

Sweetbabs said...

Yeah that stinks!! I have never had to owe the IRS so I can only imagine how much it sucks. One word of advice go to a good CPA in your area. If you company pays for you to get it done you should get your own accountant.

My husband and I run our own small business and it has really paid off to have our own accountant. You would not believe all the things that you can right off. Any home repairs we do are a deduction, mileage on cars deduction, new flat screen t.v deduction. I have heard stories of people getting ripped off by H&R block. If your company is not willing to pay for the added cost of going with a CPA ask if they will at least contribute the same amount of cash to help pay for a CPA. CPA give more one on one attention. I love my accountant!! We are getting are biggest refund yet this year!!

Thanks for stopping by my blog by the way.

a H.I.T. said...

The same thing happened to Husby and I last year! Something called the Marriage tax. If you are married with no kids and no property, you must be wealthy, right? We saved up double this year. Good luck!

Sonya said...

I just found your blog from I don't remember where. My husband and I just got married this past June. We were working on our taxes this weekend and luckily we are getting money back. But I'm taking classes for an endorsement on my teaching certificate so that helped. And I make sure more comes out of my paycheck so hopefully I don't owe. I've only paid once, but that was because of someone messing up taxes on my paycheck and working out of state for a few months! Good luck! I hope it's not too bad!

kilax said...

Oh man! I hope you don't have to pay in! We filed married jointly for the first time LAST year. It made a big difference. We just got ours done last Saturday. I always feel so relived when it is over!

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