I like to think I'm reasonably intelligent. I know that it is better to under-pay on tax withholding throughout the year than to overpay and get a refund.
But this is the second year in a row my employer screwed up my taxes to the point I have to pay more than a thousand this April (ok, so this year it was actually Liz's employer, but we file together so same result). And its hard to see it a coming out way ahead in the long run, though on some level I know I am.
So I'm a bit grumpy today, so I'll sign off before I become contagious. :(
This is a public diary and a public confession. Its the story of Mike Gibbons-Camp, a 30 year old legal aid attorney who on August 23, 2007 weighed in at 392.8 lbs. Thanks to the constant support of my wife, Liz, and a kick in the pants by a good friend who I hadn't talked to for a while, I finally decided that enough was enough. But instead of quietly suffering with my weight, I started my blog, "New Me?"
I did really well for 10 weeks, then it completely fell apart. I was in denial for a long time, thinking I was just slipping up a bit, making a mistake here or there. But the reality was that I had failed.
Since then i've tried just about everything I could to get back on the wagon. And i've done well for a week here, a week there, but nothing lasting. So I don't know what to tell a new reader to my blog, but "welcome, and wish me luck."
I did really well for 10 weeks, then it completely fell apart. I was in denial for a long time, thinking I was just slipping up a bit, making a mistake here or there. But the reality was that I had failed.
Since then i've tried just about everything I could to get back on the wagon. And i've done well for a week here, a week there, but nothing lasting. So I don't know what to tell a new reader to my blog, but "welcome, and wish me luck."
2 comments:
Of course, if not enough is withheld, you can risk facing a penalty, too (because the gov't also knows it's valuable to get the money early): http://www.irs.gov/taxtopics/tc306.html
Can't you just adjust your W4?
I had to pay for the first two years I moved back to the states, over 5k a year...it hurt...it hurt really BAD!! I do know what you are going through. I haven't even looked at taxes this year, we were both unemployed for most of the year so I have NO idea what to expect since it was the first and hopefully last time that happens.
Just remember that they do have payment options if you have to go that route, they do penalize you but its not as bad or scary as everyone makes it sound. They are quite friendly and helpful.
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