Taxing

[flexagon]

Taxes are weird this year... complicated by class-action lawsuit income (minor, from this), heisenbug's little S-corp for his consulting, a random 1099-R that I finally figured out was due to my after-tax 401(k) rolling over in its sleep to become a Roth.

I made a terrifying amount in 2014, and they withheld a lot -- but apparently not quite enough, because I still owe five digits and I hit the AMT for the first time. First-world problem, and it's not such a big deal to do an evening of work per year to get this right. Still, like many, I get cranky at doing an evening of bean-counting only to get bad news.

Comments

[elbren]

my taxes were also annoyingly under-withheld, and MD's rates are even worse than MA's, so the total is bracing. but it's over & done & I didn't have to pay penalties, so all is well.

[miyyu.livejournal.com]

We owe every year as well, though it's usually a few hundred dollars, which isn't fun but do-able. We make just a little too much money and with no kids to claim... oh well. Back when I worked for an accountant, he told me something smart - you want to break even or owe a little, because otherwise you have let the government have your money interest free for a year, so I am okay with owing. Sorry that you had to write such a big check, though.