It can be harder than expected to get tax returns prepared.
7 years ago
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- 7 years ago
- 7 years agolast modified: 7 years ago
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Income tax return done: income up, gifts up, tax not
Comments (1)" She has somewhat limited accounting skills and told me this year that the paper that I gave her last year detailing how to arrange the payments was too small, to which I said that I had meant it as a guide as she set up her account book. " I'm afraid I LOL at this one! Not that I haven't misunderstood some equally commonsense things at times. Of course common sense often depends heavily on knowledge, so if the knowledge isn't there, neither is the sense....See MorePoll re Income Tax: are you expecting a substantial refund??
Comments (29)We have Vannie and Kelly beat.We will be giving the IRS $18,000.! See what I mean about almost enough to buy a new car? LOL Talk about Ouch! All because we were fortunate enough to inherit oil property from in-laws in 81 and were even more fortunate to be able to sell last year at a very good price.We have paid an average of $3000. every year since in taxes on the oil royalties on 2 producing wells,plus about $1200. a year in property taxes.I think it is a little unfair to have to pay 18% taxes on that one time windfall but that's the way it is.So much for being one of those "rich" Texas oil people! LOL...See MoreDo I take the high road? It's getting harder...
Comments (13)Imani, I really feel like you need to back away and REALLY thoroughly assess what your personal goals are. From reading your posts I get the distinct feeling that you haven't taken that cold, ultra realistic look at your fiance and his children that you definitely need to. At 24 years of age, there is NO WAY that I think any woman is prepared to be a stepmother--let alone to three children. I know that I certainly wasn't--even at 30 when I became a stepmother I wasn't prepared. It is BY FAR the most difficult thing I have ever done, and I have two wonderful children who like me too--genuinely good kids. This feeling is totally illustrated in your above post. I do think that asking three young children to be quiet in the morning is asking a lot. They're very young. Yes, they need boundries, but they also need to expend that energy that they have in the mornings. You just can't stick a heel on their heads. You refuse to get up at 6 a.m. You fiance does. It's his JOB to get up with them. Being tired is all a part of it. Gonna happen. Too bad. (BTW, if someone told me that they refuse to do something, I'd toss 'em on their ear.) Those kids are interrupting your sleep? Too bad. You seem to want to be a stepmother when it's convenient--as long as the kids behave and don't interrupt your sleep. Honestly, it makes me laugh. ...and what's with this whole not eating until 9 or 10? My kids would be whining and miserable if they had to wait 3 or 4 hours after they got up to eat. Based upon this post, I don't see you as anywhere near ready to take on the RESPONSIBILITY of stepparenting. You're already complaining about stuff, and you haven't even started.......See MoreOdd answer to question to tax preparers
Comments (39)Wouldn't it be a useful option to ask one's tax preparer, who has a good view of one's financial situation, for some suggestions? No. The problem is that you are trying to get your tax preparer (a pretty general term) to do the job of a financial planner. It is just about the same logic as asking the plumber to wire your house, I mean he is working inside the walls so why not run some electric when he is in there. Interest income doesn't necessarily equal dividend income. You are using two things interchangeably that are not necessarily interchangeable. Different investments have completely different risk profiles and returns. I am not at all familiar with Canadian tax law, but I would be very hesitant telling someone to invest in the Canadian exchange for a tax advantage. Over the last ten years, the US S&P Index has grown 4.5 times faster than the SP/TSX (Canadian S&P index), meanwhile the SP/TSX typically has a higher dividend yield. I am not trying to give investing advice or anything of the sort, but I am trying to caution against letting the tail wag the dog. I believe this was Elmer's original point, don't get so wrapped up in tax avoidance that you actually perfect income or wealth avoidance. If you want tax planning then find someone who is qualified/certified to do tax planning, and if you want your house rewired call an electrician, even if your plumber has a great picture of the inside of your walls....See More- 7 years ago
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- 7 years ago
- 7 years ago
- 7 years agolast modified: 7 years ago
- 7 years ago
- 7 years ago
- 7 years agolast modified: 7 years ago
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