Oh, sweet love a duck, was it ever ugly. We've owed every year, but I went out of my way in 2013 to plan better. I had more deducted from each paycheck, and I saved a substantial chunk of my bonus. However, nothing could quite prepare us for unexpectedly moving, switching jobs, renting our house, and dealing with California state taxes as well as the relocation costs.
We are getting an $11 refund from the state. Party! :-)
We owe $14,300 to the IRS. Sobs. . . I have almost all of the money saved, but need to pull a bit from investments to cover the rest. Oh, sad times. Sad, sad times. We continue our search for a tax planner to help us figure out how to minimize our tax burden while planning ahead for our total taxes in 2014. Fingers crossed that someone will free up after tax season.
On that note, I'm off to be productive. We had an 8:00 am soccer practice, and I've been relaxing since. I need to make bread for the week, pack for our adult getaway, squeeze in yoga & a walk, and do the stack of laundry that is sneaking up on me daily.
Back for chit chat later.
Are you done with your taxes? How did they turn out?
So sorry to hear about the taxes. I have friends who got an inheritance from their parents and gave some money to their kids. They ended up owing $$$$$$$$$. Very depressing for sure. At least you had the money to pay for it, right?
ReplyDeleteJust don't go spending that $11 all in one place.
Yikes! That's a lot of money! Sorry about that! Do you think you can adjust your income to pay less next year?
ReplyDelete