December 20, 2010 at 4:09 pm
Ok, I’m at the end of my rope on this, so I’m going to beg. This is me begging. Is anyone out there a tax adviser or tax attorney who can give me free advice? Last year I rolled over a 401K into a traditional IRA. This year my old employer sent me a letter saying that they can’t do math correctly and they rolled over an extra couple thousand dollars because of a vesting error, which they’d like back now. I have talked to several people, from my IRA custodian, Marketplace Money, a free legal-aid pension lawyer, and even the IRS. Yes, I voluntarily called the IRS. That is how crazy this shit has made me. I have Googled and researched and asked for help and wasted at least 8-10 hours of my life trying to figure this mess out, but I still have no fucking clue how to remove this money from the account with little or no penalties or excess fees. Can anyone help me on this? Please, Dear God. The end [...]
August 26, 2009 at 10:34 am
It has been seven weeks now since I stopped working for the man and started working for the woman. (That’s me!) My boss is pretty good, tough but fair, and she has cute hair, though she could dress up a bit more. Capris at the office? Really? I haven’t had to take money out of savings yet, but I haven’t paid my quarterly freelancer taxes either, so that might change. Last night I found a program called Outright which not only builds reports of my income and expenses, but also calculates my estimated taxes. Whee! It also integrates with FreshBooks, the program I use for invoicing, which makes it extra close to my bookkeeping heart. (Did you know “bookkeeping” is the only word in the English language to have three pairs of double letters in a row? I learned that from Encyclopedia Brown.)
I know many freelancers have accountants, and I think that is a wise decision. However, I’ve been paying my own self-employment taxes for years and haven’t been audited yet, so I prefer to [...]
March 6, 2009 at 8:38 am
As my life gets more complicated, so does my tax return.
When I first entered the work force and I had to fill out a W-2 form, I looked at it in cross-eyed confusion. Exemptions? Wha’? When I got my first pay check I was giddy and excited…until I saw all the money they took out for taxes. And when tax season came I only filed a return because my mother told me to. She volunteered to be my personal accountant and didn’t charge me any fees. I just signed my name on the line and trusted that she knew what she was doing.
Then I started to make money outside of my full-time job and became utterly confused about Schedule C’s and 1099 forms and self-employment tax. Was I supposed to be making estimated tax payments during the year? Huh? What? So I eventually cracked 6 years ago and paid $20 for software instead of trying to read and understand all the forms. TaxAct asks me odd questions, like whether I own farm equipment or if [...]