so, a couple of weeks ago i went to the accountant with my shoebox filled with papers.
he basically informed me that i am pretty much going to be screwed this year because of the fact my income consisted basically of 1099 forms and had no taxes taken out (nor did i save any $ to pay them)
we had thought that i could claim gigglemom as a dependent (i later found out that she'd made money with disability last year so she's not able to be a dependent. next year though, i can claim her. yay.)
so that day, when i got home from the tax guy, i'd emailed him her SS# and also told him about the income that she had and that i didn't think she was eligible. I also mentioned that i thought that i didn't hand him a W-2G form for when I won in Atlantic City.
I never heard back from him.
I probably should've called to check up on that email... i didn't.
The girl in the office called me today for my mom's SS# and I asked "he didn't get my email? I'd sent it that afternoon" --- she said "no." and then double checked. nope. nothing.
dammit.
so i had to tell her that mom can't be my baby (*ahem* well, i mean dependent.) and how I won $4000 in Atlantic City.
so then i said "well, claiming her as a dependent would only mean a few hundred dollars right?"
she said "yes"
i said "well, i'm screwed anyway, so a few hundred dollars won't matter"
she said "pretty much"
great. it's confirmed. i am screeeeeeeeeeewed and going to be hooking soon to pay off my taxes. which, if i do that, it'll take me 40 years at $10 a pop.
anyway. the big thing i am worried about right now is the price of the accountant.
i had about four 1099 forms, then i had paid off credit card forms, the w-2g form, the had to go though my bank statements (i had highlighted the things though for them) -- i think they had originally said that simple straight-forward return would be about $150 (or $250. all i know it was lower than my HR Block BS that i had done last year that they effed up.)
i'm guessing that he's gonna charge me $650 for this. it's a guess. I'm hoping that I am guessing WAY too high.
I have a horrible feeling that I am going to owe like $17000
i'm guessing of course.
but in the meantime i'm going to take some Tums and feel sick.
Whatchoosayin'?? (7 yapped)
Well, its like I always say, the rich always have more worries about money.
Me, one simple tax form, and I always get money back...no worries ;)
Posted by cell | April 10, 2008 12:10 PM
cell: who the fuck is rich here? certainly not me.
Posted by gigglechick | April 10, 2008 12:49 PM
I own a small business which lost approximately $40,000 last year. I've been in business for two years and I wasn't expecting to make a profit until at least year three. But even though I took a major loss, somehow I still owe the government for income taxes for my business. At least I'm getting $10,000 back on my personal tax return...
$650 seems like a lot of money for him to charge to do a personal return. My accountant charged me $875 to do my corporate tax return and $350 for my personal. Have you ever tried TurboTax?
Posted by Nick | April 10, 2008 1:40 PM
BTW - If you charge $20 a pop, you can reduce the time it takes to pay off your taxes by half...
Posted by Nick | April 10, 2008 1:47 PM
I'll say a little prayer and try and send you all the good karma I can in hopes that this all works out MUCH BETTER than you are anticipating. Best of luck to ya girl!
Posted by Denise | April 10, 2008 3:10 PM
OK, here's the thing. Before I got a real job, I kinda lived 1099 to 1099, too. This is what I started doing. Get a big expandable file, label all the dividers appropriately for what you usually claim, i.e. milage, food, medical, etc., place it by the door that you usually come and go through the most. When you have a receipt, put it in the appropriate slot. At the end of the year, you're totally organized and there's no need to go searching for the receipts you need. Now that GM is outta rehab, perhaps you can claim that expense next year, but don't forget to keep the bills and stuff. I'll be praying that the IRS and your accountant don't soak you! And where you gettin' $10. a pop from? Down here we're lucky if we get enough for a cheep beer! HAHA! PS - who DID get the e-mail with GM's SSN? I'm kinda leary about that, too.
Posted by Carol | April 10, 2008 3:41 PM
When I was doing the 1099 shuffle, two things saved my ass: mileage and cell phone overages.
I didn't get anything back, but mostimes I broke clean even.
(and fwiw, I don't think it's going to be as shitty as your brain is cranked up to believing)
Posted by Jett | April 10, 2008 6:21 PM