TAXES ARE DONE BIG SURPRISE
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TAXES ARE DONE BIG SURPRISE
| Sun, 02-07-2010 - 12:19am |
Raymond has been working on the taxes all day and just now got them done.
We were scared this year because the state takes out our federal taxes on our check and they said by the new law that the taxes would be lowered. Last year we paid around 785 in federal taxes. This year when the paper came in from the state it was like 300 and it scared us because the state will not take out more then the law requires and we were thinking they were not taking out enough.
Anyway we didn't have to pay Lord only knows why we didn't but we didn't in fact we are going to get back like 140.00 which is a miracle to say the least.
Raymond came in and told me what he found What he said amazed me. Because I don't know how I did it all I did after he


Mary Ann you and Raymond are just an amazing couple to watch.
You undoubtedly be debt free this year, but don't have to be so intense about it.
We had a bit of good tax news yesterday as well. I still have another day to go of entering more expenses for personal and business but it looks like this:
- We paid about $30-35k out of our pockets to start up the business which we can take as a loss against our income pass through as it is a Sub S Corp.
- We paid in $25,000+ in taxes last year
- Looks like we will owe about $23000, so we MIGHT have a refund??? If we do end up having to pay, it will be much smaller than we might have imagined, but it was due to the massive spending we did to start a business.
Also if we hire people in 2010 I hear we can apply for a $5000 tax credit per employee to offset Federal taxes we will owe, and we plan to hire a couple for IT and accounting.
DH feels much better right now and I am sure Raymond does too!
-Marie
Good for you Mary Ann.
What a nice surprise MaryAnn.
Norma
"Patience is the best remedy for every trouble"- Plautus