Thursday, March 20, 2008

Recession and Taxes got you down?

I'm getting a little worried about all the news of foreclosures and recession and the dwindling dollar. I've noticed a slowdown in my jewelry shop sales on etsy and don't know it it's because of people afraid to spend any money, the time of year, the recent influx of sellers jumping over from ebay, my stuff is crap, or what. We'll see, I guess.

So, we are supposed to be getting those tax relief or rebate checks or whatever they are calling them this year and we're supposed to run right out and buy stuff in an effort to keep the economy going, right? Well, we just had our taxes done (to the tune of $550 in preparation fees) and we owe the feds a little over $1200.00, which coincidentally is the amount that our tax relief check is supposed to be. Does this make sense that we are going to send the IRS $1200 and some dollars and then in a few months they are going to send it back to us? No? Didn't think so. Doesn't make sense to me either, but then what does the government do that really does make sense?

Actually, I was relieved that our tax bill was only $1200, we have a lot of income that is not W2 income and doesn't have taxes taken out. Plus, being self employed you have to pay your own social security taxes, which they so appropriately call 'self-employment tax'-go figure, that actually makes sense. I'm used to paying rather than getting refunds each year, it's been this way for a long time, but it still irritates me when people ask 'what are you doing with your tax refund?' Um, NOTHING, since I don't get refunds. But, somebody's got to help out all those people on welfare, why not me???

I guess that we are really lucky that Keith has a good pretty much recession proof job and my etsy shops make enough money so far that I haven't had to go back to walmart yet. Could be a lot worse.

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