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*sigh* Income Tax

post #1 of 15
Thread Starter 
I just did my taxes....twice! And each time the result is that I owe $610.55

That's just sick! I was off on disability for 11 months and 1 week last year and after taxes, I didn't even have enough to put food on my table and had to stop buying meat and even then food and medications were tight!

I can't believe that I still owe them money!!!

*sigh* So much for my being able to buy a new bed in May like I was hoping.
post #2 of 15
Quote:
Originally Posted by Natalie_ca View Post
I just did my taxes....twice! And each time the result is that I owe $610.55

That's just sick! I was off on disability for 11 months and 1 week last year and after taxes, I didn't even have enough to put food on my table and had to stop buying meat and even then food and medications were tight!

I can't believe that I still owe them money!!!

*sigh* So much for my being able to buy a new bed in May like I was hoping.
Hey, just relax and do what we do - we only file our taxes every three years. Usually by then it has all evened out and we generally get a few dollars back.

On a more serious note, we do have a tax specialist do our taxes and although it costs us a couple hundred dollars he actually gets us back much more than that so he is worth it. (And we do only do them every 3 years.) He knows about write-offs and deductions that we didn't even think of. He's also a specialist in self-employed earnings which my hubby's music side of his income is so that helps as well.
post #3 of 15
I find myself saying this every year when it's coming up to the tax year end, but i'm so pleased we have someone to do our taxes here. If it was up to me i'd owe the taxman thousands!!
post #4 of 15
Thread Starter 
Quote:
Originally Posted by Yosemite View Post
On a more serious note, we do have a tax specialist do our taxes and although it costs us a couple hundred dollars he actually gets us back much more than that so he is worth it.
I've taken several tax courses including advanced ones and used to do taxes professionally so I am my tax specialist!

I used to do my taxes by hand, but the last few times I did them I used a software program. Unfortunately unless I lie and suddenly come up with a home based business together with receipts to back everything up, where I can claim a portion of my rent and utilities, a refund for me is just not in the cards this year

What I needed to really do is put in more than I did for RRSP's for the first 60 days this year, but having just returned to work, there were some things that took priority.

What kills me is that I lived barely above the poverty line last year, but I made too much money to claim the property tax credit and I spent hundreds out of my pocket for medical expenses, but not enough to claim on my taxes or to qualify for our Pharacare rebate. They get you coming and going.

Next year I should be in a better situation where taxes are concerned and should actually receive a refund because I'm socking money into RRSP's this year and thinking of starting up my web design business again.
post #5 of 15
You still may want to call someone, especially if you haven't been doing taxes for a while, unless you can still download the updates every year. My MIL does taxes too, and the updates this year are crazy with extra credits/reductions that came out due to the economy. A lot of them weren't made public knowledge execpt to licensed tax preparers. There may be something new that you don't know about. It's worth a shot :d/k:.
post #6 of 15
Thread Starter 
Quote:
Originally Posted by calico2222 View Post
You still may want to call someone, especially if you haven't been doing taxes for a while, unless you can still download the updates every year. My MIL does taxes too, and the updates this year are crazy with extra credits/reductions that came out due to the economy. A lot of them weren't made public knowledge execpt to licensed tax preparers. There may be something new that you don't know about. It's worth a shot :d/k:.
I took advantage of my credit deductions.... transportation, work uniforms, medical expenses, rent, charity, union dues, nursing license fees ... I even called Revenue Canada to ask about my 9 months of bankruptcy fees that I had to pay. Unfortunately they aren't deductable.

There are just no more that I qualify for without committing fraud.
post #7 of 15
Quote:
Originally Posted by Natalie_ca View Post
I took advantage of my credit deductions.... transportation, work uniforms, medical expenses, rent, charity, union dues, nursing license fees ... I even called Revenue Canada to ask about my 9 months of bankruptcy fees that I had to pay. Unfortunately they aren't deductable.

There are just no more that I qualify for without committing fraud.
OH CRAP! I forgot you lived in Canada. So, forget everything I said. can you set up a payment play with them so you don't have to pay everything at once?

That still doesn't seem fair though.
post #8 of 15
Thread Starter 
Quote:
Originally Posted by calico2222 View Post
can you set up a payment play with them so you don't have to pay everything at once?

That still doesn't seem fair though.
No, it sure isn't fair!

So far as payments, yeah, they will work with me for a payment plan. However, I get 3 pay cheques in May, so I can pay it in full then, so I'll only have interest accrued for about 2 weeks.

But I so need a new bed! I have a water bed but it's really bothering my back now, so I have to get a regular bed. Now that will have to wait until probably July or August instead. I was so hoping to get a refund so that I could put it together with my free pay cheque in May and get a bed. *sigh*

I guess the upside is that the taxes I pay allow me to go to the doctor at no cost to me in order to get prescriptions for pain medication for the pain in my back caused by my water bed!!
post #9 of 15
We always owe taxes but last year for the first time we got a fed refund but then we owed the state. So I feel your pain.

Due to having two businesses and a certain type of stock our taxes are pretty complicated good thing Neil's a CPA!! Don't know yet what we owe this year yet.
post #10 of 15
I always wonder than when I have to pay too...How in the heck can a poor person have to PAY taxes..and all sorts of people with money get refunds?!?! NOT FAIR!
post #11 of 15
I usually get about $500 back, but this year I only get $156. I am the only one out of the 5 people at work who gets a refund. My fiance has to pay $200.
post #12 of 15
I did mine over the weekend and owed $222. They got it out of my account this morning. I get a whole $59 back from the state. I always owe some on federal and get a little back on state. I don't want to change my witholding though because then I would be getting a refund of a few hundred but it would be without interest. I can't see letting the government hold my money and giving it back without interest. I owe $140 on city taxes but that will have to wait until next payday. The city that I work in has a little lower tax rate than the one where I live. The company I work for won't get involved in different city taxes so there isn't anything I can do about that.
post #13 of 15
We take ours to a tax guy to do them. Maybe look into someone that can go over what you've done and hopefully get you a refund if possible.

We didn't get as much as last year, but at least it will help pay down the one larger credit card.
post #14 of 15
Quote:
Originally Posted by Natalie_ca View Post
I just did my taxes....twice! And each time the result is that I owe $610.55

That's just sick! I was off on disability for 11 months and 1 week last year and after taxes, I didn't even have enough to put food on my table and had to stop buying meat and even then food and medications were tight!

I can't believe that I still owe them money!!!

*sigh* So much for my being able to buy a new bed in May like I was hoping.
I'm sorry, that really stinks!!
post #15 of 15
I wish our tax preparer would call us back We took off two Fridays ago to have them prepared, she called me last Tuesday saying she'd let me know Wednesday, and I've heard nothing. I want to know what Rob's self-employment taxes are going to be, since I'm sure he has to pay. I'm going to have to try and get in touch with her today, I cant even remember her name though

Luckily that $8,000 first time home buyer credit applies to us since we closed in February.
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