Sunday morning

iVillage Member
Registered: 09-22-1999
Sunday morning
6
Sun, 02-01-2009 - 2:21am

Okay, hit another pothole on this debt journey...no, actually, I think I have driven off the road......

iVillage Member
Registered: 11-17-2007
Sun, 02-01-2009 - 2:32am

Sorry you need to pay more in taxes. It happens sometime What about medical deductions You said you had medical bills You can take them off.

iVillage Member
Registered: 09-22-1999
Sun, 02-01-2009 - 8:14am

Hi, Mary Ann....


On the taxes...Nothing added up to where I could take any deductions.

iVillage Member
Registered: 06-25-2006
Sun, 02-01-2009 - 9:12am

Littlesbigs,


We got bit hard by the nasty tax bug back in 2005 for a totally innocent mistake we made in back in 2003. it is not fun at all. We did not even have the savings at the time to pay it off and we worked out a payment plan (I believe it was interest free too) with the IRS fairly easily.


It was a downer every month to have to pay that money back but we did it. I would say that if you pay it off from savings then no need to add it to debt; just then need to reup savings.


If you are paying it month to month it might help to count it as (annoying!) debt since it will hit your monthly budget.


We are waiting for two more forms which should come soon and then we will head to our tax appointment on - of all days Valentine's Day....I am hoping cupid brings us some luck this year!


Michelle

Avatar for cl_phocid
iVillage Member
Registered: 03-26-2003
Sun, 02-01-2009 - 10:36am

Oh no! I'm so sorry. Taxes are the worst. As you know, they were a significant amount of our debt total at one point. Please know that the IRS will absolutely work with you, I wouldn't spend a moment stressing about that. I would try to figure out if you need to add more money to what is deducted per pay period this year to avoid the problem next year and in years to come. It's hard to want to focus on next year when you're dealing with junk in this year, but trust me it's worth it.

You're in my thoughts! And let me say it's simply shocking the parrot doesn't count as a dependent. Stupid gov't rules...

All my best,
Danni
cl-phocid, Debt Support Group



All my best,
Danni

iVillage Member
Registered: 08-04-2008
Mon, 02-02-2009 - 4:09am

LB -
We will probably be on the edge of paying as we make too much money to qualify for most anything. We never got any of those stimulus payments either, but we don't feel rich, I don't understand????

A couple things to consider for your taxes - medical insurance costs, medical treatment costs but also you can deduct the mileage to medical appointments, be sure to consider that as well.
Did you do anything professionally this year, join your trade associations, go to meals with colleagues to discuss business? Again there are some tax deductions there,as well as unreimbursed mileage deductions.
Did you deduct mileage from doing charitable work? (yes, girl scout moms, this includes you too!)
Did you insulate your home in any way? Even new windows, as there is a tax credit for reducing energy use.

It is a debt support group and I need the support right now, but I don't put amounts, only percentages. Works for me, each his own.

Good luck with the relative, I know if feels as if someone totally took all the wind out of your sales.

-Marie




iVillage Member
Registered: 09-07-2003
Mon, 02-02-2009 - 10:07am

*HUGS LB!*


Im sorry you found out you owe!!

Teresa
http://www.affordingpickles.blogspot.com