Wednesday, April 16, 2008
Day 94 and blasted taxes!
It occurred to me yesterday we had never got the 1099 for Josh which meant we hadn't done Josh's taxes yet. I called and found out how much Josh made and figured his taxes, then filed an extension for him. Since I don't have the 1099 yet I don't want to make any mistakes on how I entered the information so I didn't want to file them yet. Anyway, since he is considered contract labor when he works for my dad, he has to pay self-employment taxes. That came to $297! So guess that answers my question on where my scholarship money is going. Sure made me glad that Josh is working at Lowe's this year and will just be getting a plain W-2 form next year. His taxes will be much easier and he shouldn't have to pay.
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2 comments:
You don't want to get me started on self-employment taxes! And of course we didn't pay enough on our quarterly payments this year, so we had to pay a pretty good chunk yesterday. OUCH!
Self employment taxes, argh, I am exhausted from the stupid taxes and glad they are done for this year!
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