Friday, February 1, 2008

Tax Time

Last year, I did our taxes using a handy tool called "TurboTax" (also known as "Taxes For People Who Don't Understand Taxes"). Here was my process:

1. Plug in number
2. Plug in number
3. Plug in number
4. Click "submit"
5. Poof! I'm done

This year, our taxes are apparently more complicated. Here is Greg's process so far:

1. Analyze all 2007 expenditures for sales taxes paid
2. Crunch some numbers on ten key
3. Comment on how we might owe money
4(a). Complain about how my W-2 hasn't arrived yet
4(b). Ask for my 2007 year-end pay stub
5. Crunch some more numbers on ten key
6. Comment on how we might owe money
7. Repeat steps 5 and 6 as needed

According to the tax accountant-in-residence, we owe taxes because our withholdings were too low for this year (?!) and we might also owe some penalties (?!?!). Penalties?! I feel like a bad girl.

Edit at 7:26 pm:
I've been given an updated status of our tax situation. Outcome: so good.
Greg also wanted me to point out that changes in our situation this year resulted in our withholding estimates being off. (Read: Greg doesn't want people to get the wrong impression about the caliber of his "skillz" as a tax accountant).

4 comments :

  1. I love love love Turbo Tax. I hope we'll be in for a big return after popping out a kid! Tell Greg maybe that will help defray any withholding issues. =)

    ReplyDelete
  2. Penalties... you naughty naugty tax-evader...

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  3. I like the edit. Why does Greg care if he isn't allowed to do taxes for people?

    ReplyDelete

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