Tuesday, April 14, 2009
The Tax Man Cometh!
Today is April 14th - one day before tax D-day. Our taxes are always complicated due to owning multiple businesses, one of which is an S corp. That type of corporation always makes estimating taxes a bit more of a challenge. For the first time in many years we are actually filing on time and didn't need to request an extension. Our accountant has already filed our taxes electronically, and all that is left to do is write the big check. Did I mention it is a BIG check? Apparently last year they underestimated what our quarterly payments for 2008 should be and thus we owe a LOT on money. I am not happy!!! Jim is not happy!!! Especially since that would have entered into his consideration on buying a new motorcycle right now. Work more, work harder, to pay more taxes. We operate one of our businesses just to pay our income taxes. Where is the motivation to keep the company going? Why not just shut one down and put eight more people on the unemployment line? That is what all the Washington bureaucrats never take into account when they keep raising taxes on people who operate small businesses. If we wanted to be non-profit we would have set the company up that way and at least gotten the tax benefits from it. Okay, enough griping...this cold, dreary day has not enhanced my mood. But as Annie always says, "The sun will come out tomorrow..."