Tax Time - Possibly the most dreaded time of the year!!

Sunday, March 6, 2011

Good morning all!!

Taxes have been on my mind lately-probably because I haven't done mine yet!! But I will--It is the time of the year when people seem to realize that the only person in the office who can possibly answer sticky questions about taxes is moi---If I don't know the answer I will look it up--if I can't find the answer--I tell them to ask their accountant. Unfortunately, and I do mean unfortunately, these days most of us little guys are using tax software and doing it on our own. Now if you actually know what you are doing or you only have a w-2 and maybe some interest--sure--go do it--BUT if you have other stuff--like unemployment--which is taxable by the way--(but not always by the states-each state is different) then go get some help. As an example--a guy walked into my office the other day and said he thought maybe the program he was using was corrupt or something--after a bit of gentle coaxing it turns out that he had about 1/2 a year of unemployment-(he didn't have them withhold fed tax which he could have and should have during that period of time)--well, of course he owes money!! There was nothing wrong with the program--I told him the best way to handle it--(complete the tax and send in what he could--the government would bill him the rest with interest and he could them make a repayment plan with them). That is always your best bet if you owe but can't pay it all at once!!
Meanwhile, back at the old homestead--Yes I used to do taxes for about 5 or 6 of my friends--but because of a new law I am no longer going to be able to do them--The federal government wants 80.00 to issue me a special ID number (I used to be able to use my soc sec number) and NYS wants approx 45.00 for a similar number!! Add that to the fact that I would have to buy a professional tax software (not turbotax!!) and then pay for each return I do--and I only ever charged 50.00 for a tax---I had to make the hard decision to tell my friends--no way--no more. So this year I will buy turbo tax and just do my own---my biggest problem is--how the heck do I tell my Mom that I can not do HER taxes anymore? Somehow I think I will find a way to do hers!!

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