ugh

[susandennis]

My CPA just called. My income tax bill for last year $3,500. On the up side, it's because my investments made too much money. My original investment adviser used to tell me to focus on the INCOME part of income tax. If I didn't have income, I wouldn't have tax. But, still... And next year, the taxes for this year will likely be as high or higher. So I will also need to pre-pay estimated tax of $1,500 every quarter this year.

In other words, time to tell my rainy day fund that it is raining. At least I have the money. Doubly glad I sent that computer back now!

So, in April, I will be paying $3,500 income tax plus $1,500 estimated tax, plus $4,000 real estate tax.

Ugh.

Comments

[zoefruitcake.livejournal.com]

My best friend is smarting from a nasty tax bill so I shall share that wisdom with her and tell her to focus on the income part