Tax man

[cowsmanaut]

Just thought I would share with you all my discovery.

You should do your taxes every year, even when you have had a history of always having some piddly amount back. Things can change drastically and against your favor.

I had a history of small amounts back, maybe $50 bucks.. it was nice and all, but the effort of filling out 7 pages of tax info never agreed with me. So I would avoid taxes for a few years and do them as a bundle and that way I could give it to a tax place, they do them all for me and take a small fee.. I paid a small amount and got a little cash back.. win win I thought.

Well, this time it came back with me oweing the government $9000.. due to an issue with how my taxes were being done. I was working at two seperate places and as a result they were both taking the exemptions, but as it turns out, only one place is allowed to. I never knew this, nor did I know it was up to me to make sure it didn't happn. So, now 4 years later I have to go through and fix this mess without the job to help cover the costs, and with little to show for my earnings since I'm too much of a "Nice guy" and have been footing many people's bills for a while now. Essentially giving my money away instead of saving. Expecting to save later. Well, all those people are on their own two feet now, surviving, I'm no longer capable of helping anyone anymore due to the fact that I have to pay everything, my wife not being allowed to work at all in canada.. yet at least, and only the one job for now. So it couldn't be a worse time for them to hit me with the bill.

I have one saving grace, due to a computer error from last year, I was not paid a sum of money over the summer, the problem was recently found and so I'll be getting some extra money to apply to the wound.. but it looks as though I'll be paying back the tax man a while now.

So, beware if there are any of you out there like me, holding off on the tax man.. beware.. beware.. for the path you may take will lead to certain destruction!

[Gambit37]

Oh man, that sucks! Money is such a pain in the ass, especially when you haven't got it. I'd lend you some if I had any spare myself, but as you know things have been pretty bad there for me too -- only just starting to get some money in now after three months of not being paid anything by arsehole clients and living off cockroaches and weevils... anyway...

If there's one thing I've learned over the last few years, it's that the Tax man is the guy you always need to keep sweet.

[cowsmanaut]

the second lesson I now have learned, is to make sure to double check the governments assesment. That value has gone down now after reviewing. For instance they wanted 2200 for 2005 tax year, however I just discovered it's actually 619 to me. so they were way off on that one. However 2006 and 2007 are still hitting pretty hard

I've been in your position too, where I purchased a loaf of bread and some ichiban noodles because they were only 20c per pack. and that was my groceries for the week. total cost, $20 per month, the rest went on rent, transport and phone :S I've even spent times where I left the last of any decent food to my gf at the time and ate nothing. Hard times.. when I got the bill, I was starting to wonder if I was about to see them again real soon.. but it looks like I'm crawling out of the hole slowly. Looking like I won't have quite as long to pay it off providing 2004 gives me results like 2005. We'll see.

[Gambit37]

There are only two certainties in life: Death and taxes.

Personally, I live by a different creed: Death and nurses!

Good luck with it, fingers crossed Mr. Tax man is feeling generous!

[beowuuf]

Wow, that's..that's just not nice! To put it very mildly. Umm ... good luck?

You would hope that for being such a nice guy, you would have people able to help you in return now they are on their feet!

Like Matt, I'd help you if I wasn't stretched a litte thin. Still, I'm not uncomfortable, so if you would find every little helping, then yell!

And now I'm starting to remember the Meet Joe Black film

[cowsmanaut]

well, on their feet does not mean "in the money"

I did some more calculations and have since turned a 9000 bill down into a 3000 bill, it's just the preliminary as there could be some unknown factors that may alter it, but it looks promising

[beowuuf]

Wow, nothing like a well run system!

[sucinum]

7 pages of tax info? That's harsh, we have 1 page in germany and aiming for a beer mat
And basically there's a simple rule: unless you have 900€ or more of work-related expenses (travel costs, technical literature, further education) to reduce your taxes, don't bother.