Hello all well this is the face I made yesterday when my accountant told me how much I owe in taxes. Yes I was shocked and surprised. I should not have been since I was getting extra money from the government. Good old government wanted half back that they paid me. You know they give with one hand and take with two. Thank goodness I saved all the money that was given to me just in case this happened and it did. I owe for State and Federal about $6,000. Which I am so use to getting money back I also most lost it. What happens if I don't have the money to pay them. Well I guess they put me on a payment plan. Thank god I have the money but still.
I am thinking of selling my rental because right now I do not trust renting it out. The tenants I have been hearing about have been taking advantage of the landlords. Since the government is telling tenants that they do not have to pay rent until Sept. Even if the tenants is getting a stimulus check they are still not paying their rent. They are using it for other bills. This has been going on for what about a year now. With tenants that can't or won't pay their rent because of the virus. I can't afford to pay for myself and someone else. It's better just to sell the place and take the money and run or better yet invest it.
So that's my story what do you think?