Thread: The New "What did you do with your Z today" (with off topic replies) XI
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Old 03-04-2014, 12:43 PM   #4028 (permalink)
gurneyeagle
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Originally Posted by JARblue View Post
I hate that...

I think we finally solved our problem owing money every year

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We've owed ~$2500 every year for the past five years, and it has really irritated my wife, who is a CPA. Starting in 2014 I have taken full control of the bookkeeping and payroll services for the company I run; we had an accountant doing this stuff and hosting our QuickBoooks previously. My wife helped me set everything up properly on the new file, and almost immediately realized that my correct federal withholding was nearly $100 more than was being withheld the past five years. Some simple math (semi-monthly paychecks 24 x $100) tells us pretty definitively where that money we always owe comes from. Thank you, idiot accountants
Don't feel bad, I owe about $8,500 after the new brokerage company sold a bunch of stocks I've held onto for awhile, we under-estimated the tax on a consulting bonus for mrs. gurney, and Congress did not reinstate the freeze on limiting the personal exemption in 2013.

One must realize though that you have to make money to owe taxes. Whether it was withheld upfront or owed at return time, it's more sticker shock than anything else.
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