And not just owe, but owe big. Almost $5,000.
If that doesn't knock the wind out of you, you must be rich.
We knew it was coming but still, that number hurts.
We got bumped into a higher tax bracket about 3 year ago. Not the good higher tax bracket where you get all the extra discounts but the bad higher tax bracket where you just get to pay a higher percentage and still be poor.
We've been saved because each year we've bought a house and the rehab cost can be written off - usually the write off is greater than any amount collected in rent for that first year so it actually comes out as a profit loss. A good thing for taxes. Honey, we have a profit loss! Yesss! Let's go to Applebee's to celebrate!
This year we spent a lot of money renovating a house but we didn't get it rented until after the new year. So we spent all that money but can't write it off until next year. Guess we won't be going to Applebee's, huh?
We also had to pay our accountant his fee - $600 smackers. Is there enough left for McDonalds?No? I didn't think so. Hey kids, ever had fried bologna sandwiches? No? You'll love them! And if you don't, better learn too, they're gonna be on the menu for a while...
Hope your tax day is a little less painful!
We got bumped into a higher tax bracket about 3 year ago. Not the good higher tax bracket where you get all the extra discounts but the bad higher tax bracket where you just get to pay a higher percentage and still be poor.
We've been saved because each year we've bought a house and the rehab cost can be written off - usually the write off is greater than any amount collected in rent for that first year so it actually comes out as a profit loss. A good thing for taxes. Honey, we have a profit loss! Yesss! Let's go to Applebee's to celebrate!
This year we spent a lot of money renovating a house but we didn't get it rented until after the new year. So we spent all that money but can't write it off until next year. Guess we won't be going to Applebee's, huh?
We also had to pay our accountant his fee - $600 smackers. Is there enough left for McDonalds?No? I didn't think so. Hey kids, ever had fried bologna sandwiches? No? You'll love them! And if you don't, better learn too, they're gonna be on the menu for a while...
Hope your tax day is a little less painful!
1 comment:
Growing up in Kentucky...I had my share of fried bologna ;)
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