Thursday, April 15, 2010

Tax Time


Image from Flickr.  Time for Taxes - Clock, originally uploaded by iQoncept.

I completed my tax return months ago but didn't file until today. Why? Because Uncle Sam doesn't get my money one minute before I have to send it, that's why. It sat in my savings account earning the few extra pennies to which I'm entitled.

I'm sick over the amount I paid this year. I had to pay a penalty for cashing out my 401K before I'm old enough to retire. I have to get my degree or it won't be worth the sacrifice.

13 comments:

sage said...

When I saw your title, I was hoping that I wouldn't find you blogging instead of paying taxes... Mine was done a few weeks ago, but mailed in today.

jack69 said...

Good entry.
Also on the comment on the Shipslog, thanks. Yeah I don't know a good alternative either.
Jack

Brian Miller said...

got ours in early and got our moeny back already...we needed it and i guess it pays to be broke. smiles. good days ahead though...

A Lady's Life said...

Ya tax time sucks lol

....Petty Witter said...

Thats the spirit. Bills are paid at the last moment in our house for that very reason. Why should companies gain when by keeping money in our account until the last minute, it is us who will be claiming the interest?

Luis Gomez said...

Jen, thank you for stopping by One Photograph a Day, you are welcome anytime.

Jen said...

@sage: Uncle Sam would come after me. I'm afraid of any organization that has enough power to take down Al Capone. The FBI couldn't get him...IRS did.

@Jack69: Thanks for returning the visit.

@Brian Miller: I always file early when I have money coming, too.

@A Lady's Life: It certainly does.

@Petty Witter: It's not like they reward us for paying early, either.

Luis Gomez: Thanks! I love your photographs.

buffalodick said...

If you are over 55 and are not working, you can get all your 401K without penalty, but it is taxable income- I know...

Jen said...

@buffalodick: Yeah. That was the original plan. Damned economy.

SandyCarlson said...

Good luck with that degree.

We're working our way through some hard times. They've been a long time coming.

Rachel Cotterill said...

Wow, I can't believe there's a penalty because you're studying. That's so unfair :( (I make no claim to understand US taxes!)

ρομπερτ said...

Βeing an accountant this for sure was interesting, even though beyond my understanding. Wishing you all the very best upon the degree ! and a nice start into the weekend as well.

daily athens

Jen said...

@Sandy Carlson: When the good times finally return maybe we'll appreciate them more. I hope they get here SOON.

@Rachel Cotterill: If we put money in a retirement fund, the government doesn't tax us on that money or our earnings until we take it out upon retirement. If we take it out early, there's a penalty with very few exceptions (if any).

@daily athens: Is there an English spelling for your name? I'm not convinced accountants in the U.S. truly understand our tax system. The rules change every year.

Post a Comment