Thursday, April 05, 2007

Uh, Houston. We have a problem.

So I start doing my taxes last night since the anxiety of getting it done has finally surpased my need for procrastination. It's really become harder and harder to do my own taxes as I've gotten older. There's all this stuff that needs to be accounted for. Rental properties, stock trades, blah blah blah. And of course records are hard to find because I generally rely on electronic records and it seems some of my trusted and favorite companies, like eTrade, aren't all that great at preserving records. Anyway, it's huge pain but TurboTax makes it a lot eaiser... love TurboTax. And, I guess I'm a do-it-yerself kind of guy when it comes to my finances and taxes.

Well, last night it became apparent pretty quickly that there was a major problem. Why do I owe so much money when I was expecting to get money back from Uncle Sam this year?
Uh oh, looks like we have a little problem with my number of deductions on my W2... seems I haven't been paying nearly my share of taxes this year. This is going to hurt in a major big way. Like how am I going to pay this tax bill? Ouch.