Yesterday I got a frantic phone call from Tim at about 11:30 am. According to our accountant (o.k., I need to clarify- he is my father in law's accountant and since he deems Tim and I to dim to do our own taxes we get our stuff done for free every year) we owe the United States Government $5,574.00.
Excuse me?
According to our accountant we made more money last year than we ever have (sounds good, right), but due to the way in which Tim gets paid by his cheapskate asshole boss (his father) we are being taxed on money we have not yet seen. Which begs the question- where is said money? Apparently the accountant was horrified that my father in law withholds earnings like this and that there is no consistency to Tim's income. When confronted with this by the accountant, my father in law insisted that what he was doing was "teaching Tim a lesson". I think that class was dismissed when the accountant told my FIL that this practice was bad bad bad business and that it was illegal depending on how you look at it.
Now I don't know about any of the rest of you, but $5,574.00 is kind of a lot of money to us. While we technically have the money it is requiring some robbing Peter to pay Paul for bills this month so as to not completely destroy our savings and yet still pay Uncle Sam by the 15th.
Have I mentioned lately that I really dislike being a grown up.
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2 comments:
Yuck! Oh shit, that is terrible! I hate paying taxes. And the fact that your FIL is somehow making this happen makes it all worse.
I really preferred the years when I used to get a refund, you?
Grrr, dude. That sucks. We owe this year too (for the first time).
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