Do you wonder (like I do) what the tax accountants and executives are doing over at GE this weekend? Frantically rushing to fill out their IRS returns like the rest of us?
Hardly. They're taking the weekend off to throw themselves a big party and have a hearty laugh at all of us. It must really crack them up to see us like suckers scurrying around to make sure we report everything to Uncle Sam -- and even send him a check, if necessary.
I know just how they feel! Yesterday, Mrs. G got done with our federal and state income tax. With the help of TurboTax Premier to help us account for our (half)vast far-flung financial empire (cough), we are getting back $800 more than we paid in. Same with the state, but a much smaller amount.
This is on an Adjusted Gross Income of $17,970.00. There was no tax on our SS income of $21,000 and change. We get by OK, but since we've retired the outflow* is larger than the inflow. We have all sorts of retirement accounts and a rental house that is depreciating quickly and only barely pays for itself. The rental and our health insurance outlay are the secret to this $800 windfall.
*Everything's paid for and we have no debt and get along fine on our income day-to-day, but shit happens.
Note: That $800 probly cost us twenty grand, one way and another. Do not hire me as your financial advisor. Heh.
I normally wouldn't mention this kind of personal financial info, but this is a very odd one-time event. This year there'll be no withholding at all, so next year we'll have to pay something. We're saving up now by buying the store brand cat food. When it's on sale.
No comments:
Post a Comment