The keep calm thing is really speaking to me today. Probably because we got a really bad surprise after getting the income tax papers back from our accountant. Not going to pull punches here as for the first time in a very long time we will not be getting anything back. We owe a great deal, and that was a complete shock. Our investments did very well last year, which is probably why we owe so much. This will make quite a dent in our savings, something that just might be very difficult to replace. I will certainly make a concerted try in doing so.
So far this year has been very spendy. Things that needed replacing, things that needed repair, things that are made in Canada to fight the tariffs, and of course regular bills with prices rising.
I have gotten the kitchen spring cleaned and the ceiling in the bathroom dusted off. I needed to stop after that as I was just too sore to continue. Getting older and not being able to do as much as I am used to is going to be something I need to work on. Another reason to try and keep calm.
The sun was shining after some lovely rain. Now the sky is darkening once again, and hopefully more rain will fall to wash away the mold and dirt of the winter. It will also give moisture to the ground which definitely needs it.
I found a seed on the end table where Harvey sits and I am wondering if it is an orange seed. Must ask and then plant it if so. I see very few orange seeds any longer, so finding one is awesome. Hopefully I or he can find a second one.
My donation box for this month is almost full. I will have to look out for a second box. While moving seems to be getting put off for a bit, I will continue to downsize and declutter as much as I can. The more we remove the better off we will be when the time comes. I am surprised at how much I have pulled out of the kitchen cupboards today, and there is probably much more I will be able to rid us of as time passes.
I am going shopping tomorrow, mainly because I need to do the payment for taxes, take back some papers for the accountant as well. I will always combine errands so as not to waste fuel. This probably means very little spring cleaning tomorrow, but I will continue the quest to get things done again on Friday and Saturday.
Off to set the table, and then use up some items in the fridge to make our supper. No wasting has become even more important as we try and manage our budget this year.
Everybody have a wonderful evening. God bless.
I think prices are rising all over, every week something has gone up, I don't fo a once a week shop anymore, only buy what I need. I was in the supermarket this week at the right time, snagged 2 packs of salmon snd 2 packs of cod reduced to £1.25 each, I was chuffed with that 😀
ReplyDeleteWe had the same shock when we did our taxes. It was bad in 2023 and even worse for 2024. We have to pay a BIG chunk of change. The interest rates were so good last year so we made a nice amount but then they take almost half of it in taxes-so maddening. The interest rates are down quite a bit this year so they wont be taking as much for this tax year!
ReplyDeleteWe broke even this year with taxes which is fine. Anytime we don’t have to pay is a win. All my adult kids are getting money back which always pleases me.
ReplyDeleteTake Care.
Oh no, that's a nasty surprise, not what you want to hear. I am quite shocked to see how much food prices are going up, every time I go shopping it seems prices have risen.
ReplyDeleteSorry you took such a hit on taxes. That hurts. Wishing you a much brighter rest of the year.
ReplyDeleteSorry you were hit with tax payment and other things. I was shocked we didn’t owe anything this year until I remembered that our CDs matured in January 2025 which means a large tax bill next time.
ReplyDeleteThat would definitely not be a pleasant surprise! I hope, if you have a financial advisor, that they would give you a head's up.
ReplyDeleteI've moved some of my RRSP funds to my TFSA this spring, knowing that there would be a tax impact, but we hopefully mitigated the impact by increasing the initial withholding. I hadn't realized we could do that - my FA told me about it and I agreed because I don't want to have to withdraw from the fund next spring.
On a happier note, we're seeing juncos and robins here, the snow is melting and spring is finally taking hold.
So sorry to hear about the taxes. I received a sizable severance last year, and knew I'd owe a bit on taxes. But, I always have a lot withheld, to try & prevent owing a ton. I didn't know that severance withholding ignores whatever you normally have set up, and taxes you at a flat 22%, which is WELL below how much we owe. Our bill this year was staggering. Which we found out right when we got the news about M being laid off. A double punch to the face. Here's hoping you are able to rebuild your savings, and that things turn around for you financially. Wishing you the best. - Hawaii Planner
ReplyDeleteI am so sorry. That is how I felt when I called the accountant. Even though it was not huge it was enough to really mess up the budget!
ReplyDeleteIt's difficult isnt it, you try to invest wisely for your future and if the returns are great then you get clobbered with extra tax! Robin used to do the tax returns, never used an accountant though, so I guess I'm going to have to cope with this too.
ReplyDeleteI'm hoping to get a tax rebate soon as I've been paying tax when I don't even earn enough to pay it. I need to get my tax code corrected. Sorry you've had the bad news about your taxes. Life is definitely getting expensive these days.
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