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.

6 comments:

Johnny GoFast said...

I just cut the check on Monday. It wasn't pretty. Let me know if you want the name of my CPA. She's really good and takes a lot of the hassle out of the process. She went stone cold silent when I asked her what would happen if I just didn't pay.

Steve Griffiths said...

Hey Sprocket, I got a hot rod Volvo wagon for sale if you want to buy it... I'm really like the Heugo now.

Anonymous said...

(Bloomberg News Wire) Today, Griffiths Enterprises, a diversified conglomerate, announced that Q1 earning statements would be delayed pending a review current tax liabilities. In a press release issued today, CEO Spencer Gee blamed improperly accrued race earning from the Road division of the company for the delay.

Insiders reached by Bloomberg News expect Tulip Gee to take over the company's finances as of next Monday.

nosajpalnud said...

Priorities in the right spot - hock the car before the bikes. I'll give ya 30 cents on the $.

Steve Griffiths said...

- Anon: very funny!

- JD: Not a hard choice. Ride bikes every day v. Drive car a couple of times a month. Bikes are going to win that one every time.

Anonymous said...

Thanks for writing this.