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We're getting slammed by Uncle Sam with social security tax! I think now that we're really, truly "grown ups" with a REAL job, it's hitting us. Being self-employed and actually making enough to live and not be in debt hasn't helped the tax situation. Just thought I might find someone out there who can comiserate. If you haven't checked out rhett and link's website to see their Turbotax rap, it is a bit of comic relief to salve those gaping tax wounds...


It's very important to send in quarterly payments as you go along so that you don't get slammed at the end - one big drawback of the self-employed! Our church thankfully takes out money and sends it in monthly for my husband, sort of like he was a church employee. We took our taxes to an accountant for the FIRST time this year (last year we took a $1500 hit!) and boy was it worth the $82. I had figured a $250 refund - ended up with $950! How I wish we'd done it last year.

April 10, 2007 at 8:43 PM  

Boy, did we learn this the hard way!!!! We're looking at an even bigger chunk of change than you did last year! YIKES!

April 10, 2007 at 9:01 PM  

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