Tuesday, January 6, 2009

All About Taxes

Last week I got a call from the company we use to file our taxes. We have gone to them for the past four years, and they always do a great job. The call was about a new service, where you bring in the last paycheck stub of last year, and they estimate your taxes, then give you a certain portion of your refund on a Visa Debit Card. We went in this morning, and we started discussing the fact that I am now making money working online. This money is not taxed. I have to pay the taxes myself. Our agent told us that if Junior just payed a little more each week out of his check, at the end of next year it should all even out, because we file jointly.

I know there are people out there who may not have known this, and are finding themselves in need of IRS tax relief. Not necessarily bloggers, but anyone who owes money to the government.
There are people facing IRS tax audits who need someone on their side, who knows the laws. That is one of the things that scares me about doing my taxes myself. If a mistake is made, I have only myself to blame. This could lead to liens and penalties, and all kinds of scary things. There is such a thing as IRS lien subordination, which can help if you are needing to refinance your property. I do not understand all the technical stuff, so it's a good thing there are people out there who specialize in these things.

Today we walked out of our appointment with a couple of hundred dollars, and an estimate of our refund. Luckily, it is enough to pay off our yearly debts, and still have a little left over. That is always a good thing.

1 comment:

MySweetThree said...

How great that you got some tax refund money already! I am absolutely DREADING tax time this year..with deductible this..non deductible that..with the house..the closing costs...and all of this money that we spent now on credit card..that refund money will NOT cover..oh, to get out of this debt..yuck!
Eeeeek. sorry for the rant!