I Owe $1000 In Taxes

By | March 23, 2020

When it rains, it pours. I just did my taxes and it looks like I’m going to owe about $1000 in taxes. This is the first time in a very long time that I’m actually not getting back a tax refund. It couldn’t come at the worst possible time. I can’t go into work, I’m worried about losing the condo, I have less than $1000 in emergency funds, and now to top it all off, I owe about $1000 in taxes.

Wow!!!

I could almost laugh if it wasn’t so sad. But I will not let it get me down. On paper, I made a lot of money last year, but somehow it didn’t feel like it. It really is true that it’s not how much you make, but how much you keep that matters. Sometimes life gets you down, but where there is a will, there is a way. Who knows, 13 years from now when I retire, I might look at this time period and realize that 2020 was the year that made me a stronger human being.

Conclusion

A lot of people are hurting right now because of COVID-19. The coronavirus has changed everything so quickly, it’s amazing. I know a lot of people have it worse and my heart truly goes out to them. We live in very difficult times right now, but I firmly believe we can get through this together.

For what it’s worth, despite the fact that I’ve sold all of my stocks to fund the closing cost, I’m committed to rebuilding my dividend portfolio. I only wish that I had money on the side to take advantage of the sale going on. It truly pays to be a long-term investor.

I started this post with a negative quote about rain, but I’ll end with a positive one. After a storm comes the calm. Remember that. The key is being able to weather the storm.

What did you think of this post? Let me know by commenting below.

Stay safe and healthy everyone!

4 thoughts on “I Owe $1000 In Taxes

  1. P2035

    Stay strong. I lost money on my last investments, which was at worst possible time 🙂 well turn to most important stuff – your not sick, you have food, water, electricity, rood on your head, you can go outside without risk beeing shot and that makes you the top1% of the lucky ones in the world.

    Stay safe, all can be restored and rebuild, exept health and life.

    Reply
    1. Dividend Portfolio Post author

      Now that’s what I call looking at the bright side!

      Reply
  2. Scott

    The good news is that the tax day has been moved to July 15th, so you’ll have some time to get that money. I’ve been away from the dividend investing community for a little bit (getting married, buying own house, new work, etc), but am starting to read through some of your old posts. Starting with your post about buying the condo… Sorry to hear that you are worried of losing it. Hope everything works out both financially and that you stay healthy in these crazy times.

    Scott
    Scott recently posted…Earning Interest on Cryptocurrency Investments & StablecoinsMy Profile

    Reply
    1. Dividend Portfolio Post author

      Wow. congrats on getting married and buying your own house, et. al. Thanks also for the words of encouragement. I hope it works out as well. I’ll be updating the dividend community soon regardless of what happens.

      Reply

Leave a Reply

Your email address will not be published. Required fields are marked *

CommentLuv badge