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Financial Planning / Tax Strategies


Subject:  Re: tax help hmmm :/ Date:  4/15/2008  5:29 PM
Author:  AlisonWonderland Number:  100397 of 127549

I am currently away at college and my parents offered to take care of my tax bill for me.

You've got nicer parents than my kids have.

I've gone through the kids' tax returns with them as they enter the data and do the math so that they know what the situations are. The fact that they've been in college during this process just means we have less flexibility and have to manage our time better. Also, throughout the year, I've made them set aside money that's allocated to taxes so that if they have a tax bill, there's money for them to pay it. If they're earning money or otherwise getting financial benefit from their assets, I don't see why I should pay for that.

(obligatory snarky comment)
It seems to me that if you're in college and trading to the tune of $10 grand, why should your parents take care of your tax bill?

Heres the problem: My parents accountant charged me $1300 dollars to create and fill out my forum!

Expensive lesson, no? And what have you learned?

and what can I do about it?

Plan better for the rest of 2008.

~~ Alison, MOM (which stands for Mean Old Mom)
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