07 April 2006Money
Taxman Cometh

I'm pretty done with my taxes. Like just about every year, I did them myself on Turbo Tax. The difference this year is that I made a lot of money in the market last year, so I have some short term capital gains that I owe on. Not really a bad thing. I'd rather owe than lose money and not owe. I'd just rather owe less. The current tally is running at about $2700.

So out of deparation I went to H&R Block for a consultation, just in case there might be some deductions I can take that I was missing, but I was SOL. I'm in the worst demographic for taxpayers: I'm single, no kids, don't own a home or any property, don't have a business and make enough money so that my contributions to my IRA are not even deductible.

I left H&R Block rather disheartened, but what are you going do? Maybe it's time to have a kid, buy a house or start a business. I'm leaning towards the two latter.

Posted by andrew at April 7, 2006 07:33 PM


Comments

Ursula Says:

Single people in the United States always get screwed. Which in my opinion is totally wrong as we use less of the services that our taxes are suppose to pay for.

So screwed in fact that I'm paying the same amout of taxes here in the UK as I was in the US...and at least here, I get free national health insurance.

April 8, 2006 12:49 PM
JenBen Says:

Don't your cats count as kids?

April 13, 2006 08:16 AM
Andrew Writes:

God, how I wish. They certainly cost me enough. The final tax bill is in and with California state taxes, I owe the man around 5 grand. It's painful, but manageable.

April 13, 2006 09:23 AM




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