Tuesday, February 14, 2012

Tuesday, Taxes are crappy!

     I rec'd a phone call from the accountant last night that we cannot claim our second daughter even though she lived with us and went to school all last year.  We helped her in school (borrowed thousands in parent plus loans) paid out thousands for licensing exams.  I paid her at least $6000.00 in income out of the studio which I did not make her claim.  We also have a $3500.00 tax credit for school for her.  Well we lost her deduction, we lost the tax credit.  She turned 24 at the end of the year and made over $8000.00 the last 6 weeks of last year.  So the combination of the two is she made too much money and turned 24.  This is very bad for us.  She paid in about $950.00 to the Federal government but she gets back over $3000.00 because of the college tax credit, she did not pay for.  I am so upset.  I don't care if I don't get any money back.  I just do not want to owe.  Accountant can't do anything a law is a law.  But this could really change things for her as far as insurance goes.  Can she still be on our insurance as a dependent when we did not claim her on our taxes? 
     I am checking with the insurance company today.  I also called and talked to her about the taxes and she was upset.  She said she does not understand how she has worked so hard, passed these tests, gotten a good paying job and she is still costing us thousands of dollars.  So she is giving us the $2000.00 tax credit, which I think is fair.  She is also paying off a $1300.00 bill she owes for a test she took.  The bill is in our name.
     So sad news is that we will not get a big tax refund.  But I have a good kid!

     Happy Birthday Carla!  I cannot post on her Blog at all.  I have tried contacting her numerous ways and it all comes back with an error.  So here is my Valentine, Birthday wish to you, Have a Hap, Hap, Happy Birthday!
   
  Okay so last night I started to empty the linen closet and I ran out of steam.  Here is the picture of my mountain oh junk.  We could not get into the spare bath yesterday!
                                               Yes this was out of the linen closet!

                                                             This was the rest of the closet!

Top shelf: Upper two shelves, Christmas throw, Curtains that could be reused, antique blanket tops.
Second shelf: Table cloths, Holiday napkins and table cloths.  These two are at my eye level and higher.


                                                    King Size sheet sets and pillow cases.
                                                    Below: Queen Set and standard pillow cases.

                                               Blankets, humidifier, steamer, hot pad
                                               Below 2 air pump Queen beds for guests.

                                                 Okay Jane can you see the shelves?

                                      These are the two big bags that are going to St. Vinnies,
                                       Middle bag to High School Drama closet.

       Now What I discovered in the closet. Old curtains I will never use. Sets of double sheets, when we have not had a double bed in this house in 7 years.  How did those escape me?  Mismatched sheets for queen and king.  Where we had a bottom tear or a top get a bad blood stain.  Hubby went through a period of bad nose bleeds last year.  What a mess, no matter what I did I could not get many of the things clean and I am known for my stain removal powers. Blankets I hated the feel of so I would not use.  Old duvet covers that were worn and stained. 
     Now I have an extra set of Queen sheets downstairs for the spare bed.  The king bed has 3 sets, but we are short at least 2 sets of queen sheets.  The kids both have Queen beds so I am sure this is the reason.  I like to have at least 2 changes because people gets sick.  Remember my Mother?  I went through every set of sheets in the house in a matter of hours.  Also if we have company we will need to have sets for the blow up mattresses.  So when I am out and about I will look at Ross or Macy's or TJ maxx and get a good deal.
     I feel so clean and free of junk!
   
     I was thinking about Little Lamb's response to my response to Judy (are you following?) last night when I was teaching and the accountant had just dropped the bomb.  Well was I going to change things?  No.  Was I okay? Yes.  Could I still enjoy my students and get something done? Yes.  It all worked out.  Not the way I had planned but in the end it will be fine.  It will mean that I pay of the debt a little slower, but in the moment I am still fine.  We are all fine.
    
     Out My Window:  Foggy, cloudy, cool, could snow later today.

     Well I need to get late notices out, 9 of them, so here is to $180.00 more dollars.  That is how I see it now.  I have turned into a CC company hoping my parents pay late!  Well not really if they come up to me and explain I let it go, but most don't.  I am beginning to realize that a lot of people will just add the late charge and pay when they want!

     Have a great Valentines Day!  Don't eat to much Chocolate!

Kim

8 comments:

  1. That stinks about the taxes, but at least you have a good kid!

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  2. Taxes are so complicated with rules that work in the government favor. My taxes are complicated with kids and the ex, who claims what and who paid for what.

    Good that there will be a couple thousand come back in a round about way!

    I need to purge sheets too. Good motivation to see pictures!

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  3. Oh, that's too bad about your taxes! I agree, taxes are so complicated. We've been trying to figure out my taxes for babysitting, and it's a royal pain. We had to order more forms, so I can't even fail until March. Can't wait to have it all done! But you did such a great job on de-cluttering. We need some new queen size sheets too. We still use the ones we got for our wedding, and I'm getting tired of mending the holes.

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  4. It hurts to lose those deductions, doesn't it? We lost the last child deduction for our youngest this tax filing even tho he's still under 17, but we made too much money in 2011.
    At least your daughter is making the money right for ya'll.
    My daughter? She'd take the money and tell us too too bad. Heck, she tried to insist that we didn't provide more than half of her support in 2011!lol Ok....we paid for school, room & board, all her clothing, books, her food and her expenses while home. She paid for her going out and entertainment....and THAT was more than half of what we paid she said.lolol

    I did a purge of my linen closet last year and dug out things that had been there forever. It's been so much easier to keep organized since then. Good job on your linen cleanout. It's a good time of year to find deals on bedding so good timing! 8-)

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  5. Oh no. Hope everything works out ok with the tax situation. It's great that your daughter is going to give you at least some of her refund. Great job on cleaning out the linen closet. You'd never know it was the same one!

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  6. Ugh, gotta hate when you have to deal with little loopholes and exceptions during tax time... I'm glad that you do have a good kid and she's willing to help out offset the tax bill. Once I finally get my taxes done, I'll be breathing so much easier. They're such a pain in the kicker.

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  7. You have a GREAT kid!! That means that despite all the crap and frustrations, you have done something very right where it counts the most! So take a bow for you parenting skills!

    We unexpectedly lost child #2 this year, too, even though we housed and fed him for the entire year (not to mention the other living expenses that go along with that). But he's over 19, not in school, and made more than a few thousand dollars. It just does not seem fair.

    Great job on the linen closet and hope you collect lots of late fees :)

    Sarah

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  8. Wow wow wow!! Yes, I see shelves! I didn't think there WERE any shelves, just one very tall pile of material lol! Good for you, I bet that made you feel great except of course the need for more queen size sheets! My daughter only has one set of queen size sheets for the new bed (and those sheets) that I bought her for Christmas so when the warm weather comes I'll encourage her to shop for a cotton set. YUP, I'm done paying for the expenses for THAT bed! If she'd just bought a double I could have outfitted her with several sets, as it is they'll go out to PEI with me for our double air mattresses.
    You have a WONDERFULLY GENEROUS daughter who learned well from her mother! Hope the final tally is in YOUR favour!

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