Damage my son caused me

cookn biker

Tax guy just left.
Federal, $350 plus interest. State, $177, that is with the interest or dang close. Plus $50 to tax guy.
Don't feel much like giving to my son right now..

Gator Bait

 
Very sorry to hear that Molly. Cheer up, it could have been worse, you could have had triplets! :blink: :blink: :blink:

Just take a deep breath, count to ten or a hundred, which ever works and remember how fortunate you guys are to have each other. Tis the season to be jolly, don't let a tax man tell you other wise.

Have a very Merry and a safe and Happy,

Gator

 

cookn biker

Yea, I know. Parental guilt kicked in. He is getting xmas gifts and bday gifts after all. Not many but some. :laugh:
You and your family as well.

AuntieEgger

Hey cookn biker don’t feel to bad. My son in law had this guy who was recommended by others to do his taxes so he went to the guy and he did get a good return for two years in a row ,, that’s great he thought this guy really knows what he’s doing. Well the Govy did a investigation and my son in law found out that this tax guy had put in a donation to a church with his taxes!!! However the son in law did not know anything about this donation. They looked for the tax guy and he is long gone and no were to be found. Son in law has now got to pay back 17 thousand $$ pluss interest. The good thing about it is he was not charged with fraud because he didn’t know about it so he didn’t get a fine on top of the 17Grand he has to pay back.

Watch out who you get to do your taxes that’s all I can say

AuntieEgger

civil eggineer

Last time I tabulated the costs, my 25 year old daughter has cost me around 3 million in change and my hair to turn grey. You got off easy!

LFGEnergy

17 thousand represents a claimed deduction of about 50K at a 34 percent tax rate. Things that make you go Hmmmm...

You might want to recommend that your SIL review his returns before submitting to IRS .

AuntieEgger

Well we did recommend that he didn’t go to that tax guy but he didn’t listen. Some people just have to learn the hard way.
Nothing like a good sock in the wallet to wake ya up.

Humphrey Chimpden Earwicker

i don't understand how someone can sign a tax return with a 17 thousand dollar deduction in it and not notice it. not trying to be an ass, but if he makes enough money that 17k is a drop in the bucket, then he shouldn't be using some once-a-year guy to just bang out his taxes.

if he doesn't make a lot, and didn't notice the effect a 17k "donation" would have, then it's even stranger.

i dunno. i know a few guys that all own their own small companies, and there seem to be three strategies:

-pay some guy 200 bucks once a year to "do the dirty work" and risk not knowing what's in the return even though he's "saving you money"
-struggle yourself for a week or more pulling your hair out, with receipts jammed in a shoebox, then worry you didn't screw it up
-establish a long term relationship with a financial advisor, where the tax return preparation is a small part of an overall plan, and is tied in to a long term strategy

i asked her (my advisor) how we could "arrange" things so that i might pay less in taxes. she said there's only one fool proof way: "make less money".

Hokie Lover

When you put the 2 words 'The' and 'IRS' together it spells 'Theirs...' :laugh: