April 15th will be drawing nearer as February 2015 begins. Some of us have received our W-4s and others are waiting for it to arrive. We've worked hard all year round for this. Sought deductions that will lessen our tax liability to get a bigger or at least some decent amount above that $1 which wouldn't be mailed to us. Just the same, we have to prepare for the inevitable which is to 'file' our taxes. What do you hate about it?
I'm always afraid we haven't added something we should have. We try to be very honest but I'm sure when a mistake is found by the tax people they always get the standard answer of 'I didn't know' and so I always have this fear that I'm not doing it right. I guess my biggest fear is to be audited one day and then have to come up with proof of everything. We move alot and so I try to save stuff for the standard 7 years but in the back of my mind I'm thinking, 'I know I've lost something.'
Well, I think most if not all of us fear that we might have to pay something out to the IRS. We also fear that we didn't make sure we had all out T's crossed and our I's dotted in other words is everything accounted for. I also know that as someone more or less classified as self employed I also have the extra added concern of finding out what I made the previous year. Yes Paypal can be of help in this because it keeps an annual record of earnings, but finding this area can also be a hassle at times. Now that I have this information now comes the part of having to file, not fun at all but then tax season never is.
Since I'm working, the filing of my taxes have been taken cared of by the company in the form of withholding taxes (they away a chunk of my income and remit them every month to the appropriate government agency). I don't need to go to the Bureau of Internal Revenue to do the filing myself. However, every month I have to suffer through seeing my payroll significantly reduced. It could have been bigger without those taxes.
