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Home > Unexpected Tax Day...buh bye savings.

Unexpected Tax Day...buh bye savings.

April 16th, 2009 at 01:58 am

No, these are not tears of joy....Now for my disclaimer...this entry is a complete pity party, kick myself in the butt and growl at the unfairness of tax day kind of post... read at your own risk.

I way misjudged our taxes this year. Seems the income we earned, combined with a wd I took from the 401k to help the kids business at the first of the year put us into a higher tax bracket and VIOLA...just like that, my Christmas Club, my vacation savings, and my Freedom account were all depleted (wiped out) to pay my taxes...I guess the $8k I already paid wasnt enough...so I had to pay over $3k more today.

Never had a tax day quite like this one...hope to never have one like it again.

Now, to figure out how to rebuild those accounts before we need them...first on the list is the Freedom account, followed CLOSELY by my vacation fund. Of course, somewhere in all this I was also trying to come up with $8700 for a surgery my daughter needs but which is not going to be covered by insurance. ugh, this could get really depressing really fast if I dont just focus on the fix rather than the problem....

Why is it we seem to always take one step forward and two back...I have been so flippin careful and was feeling so good about our progress. poop.
no, make that double poop.

end of pity party.

Posted in general thoughts | 7 Comments »

7 Responses to “Unexpected Tax Day...buh bye savings.”

  1. L Saver Says:
    April 16th, 2009 at 02:40 am 1239849622
    1239849622

    I'm so sorry -- unexpected bills like your tax bill are are absolute worst! You deserve a mini pity party. The bright side is that it would have been worse if you hadn't had that money saved up. (You can ignore that last part if you want to remain at the pity party for awhile Smile)

  2. frugaltexan75 Says:
    April 16th, 2009 at 02:40 am 1239849658
    1239849658

    {{{Ray}}} You're allowed a pity party post for taxes. That pulling money out of a 401k thing really seems to bite really hard tax wise.

  3. Personal Finance Student Says:
    April 16th, 2009 at 04:01 am 1239854480
    1239854480

    I can relate in some ways; I'm so sorry! I'm glad you had the money too, that must have been a HUGE relief!

  4. baselle Says:
    April 16th, 2009 at 04:55 am 1239857739
    1239857739

    I feel for you, fellow taxpayer. I had the bucks, but ouch, ouch, ouch. If I ever get back to being bummed by having to shell out a mere $100 in Fed taxes I will be grateful.

  5. Ima saver Says:
    April 16th, 2009 at 01:19 pm 1239887962
    1239887962

    so sorry, Ray!!

  6. nance Says:
    April 16th, 2009 at 01:27 pm 1239888453
    1239888453

    It is really frustrating, in know! It is good that you had the money, and didn't have to put it on a credit card though. We pay and extra hundred every month and still had to pay over two grand. I fear it is only going to get worse.

  7. dmontngrey Says:
    April 16th, 2009 at 04:14 pm 1239898479
    1239898479

    Bleah! Very appropriate pity party, that's for sure. Sorry to hear. You'll get back to where you want to be soon! Smile

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