Do you stress when dh has huge bills to pay...Update..

Leahh

Fri, May 14 2021, 10:54 am

sub wrote:

Step back and let the accountant take care of it

This!
A misunderstanding that led to $150k bill needs to be reviewed, discussed, and appealed. Not just paid because it showed up.
Possibly even a different accountant than the one that filed to get a fresh set of eyes. The 2 can and should confer.
Eta I read further and see you explained the reason for the sudden bill.
I still stand by having another accountant review what's going on. It will help for the future.
Good luck!

Last edited by Leahh on Fri, May 14 2021, 10:59 am; edited 1 time in total

amother

Fri, May 14 2021, 10:55 am

amother [ Cyan ] wrote:

sounds like you have 150K due for payment with a return because of underpayment of estimated payments.

Take a deep breath. You'll pay what you can now - and your CPA will help deal with penalty mitigation on late payment of the rest.

Yes, this explains it basically.

Thank you!
Why the heck are people jumping to your dh might be keeping things from you. He doesn’t!

Leahh

Fri, May 14 2021, 10:58 am

amother [ OP ] wrote:

I’m not exactly sure the exact details, but something like the business usually sets aside quarterly $ so that taxes don’t add up, but they were based on last year’s financials and this year there was a drastic change.
Also a misunderstanding on our part about how much state tax deductions differ from Federal.
We’re up to the filing of the return still which is due shavuos, not the IRS coming back to request more money....

I hope I’m making sense....
And yes the accountant letting us know now only is something that needs to be dealt with , but first things first.

File an extension.
You still have to pay something and may end up with some penalties but it will give you time to reevaluate and see what can be done.
Have another accountant look over the return. Find more deductions.... there are usually things that can be done.
This is a huge misunderstanding. A good accountant should have been involved all along and guided the business with how much to be putting aside.
Sorry your dealing with this stress erev shabbos and yt. It should all work out iyh

amother

Fri, May 14 2021, 11:04 am

If he can’t come up with the money he will need to take the penalties etc. but for now he is still trying to come up with the money.

If he would have 10 days to deal with this, he would definitely figure it out more easily. It’s the fact that it’s on such short notice thats the biggest issue.

I’m sure as we speak he is going through all his options, he just doesn’t want me on his back as well...iykwim.

So I’m on here trying to keep away.

amother

Fri, May 14 2021, 11:19 am

amother [ Oak ] wrote:

I daven. Make myself available for listening and no hand wringing. And just handle with care. If I add to the hysteria it will just distract him.

Thanks for answering my original question!

Crookshanks

Fri, May 14 2021, 11:23 am

amother [ OP ] wrote:

Yes, this explains it basically.

Thank you!
Why the heck are people jumping to your dh might be keeping things from you. He doesn’t!

Because when you post about a problem on imamother, you need one of three things:
Therapy, a divorce, or birth control.

amother

Oak

Fri, May 14 2021, 11:28 am

amother [ OP ] wrote:

Thanks for answering my original question!

My pleasuren! I'll pray for this to be speedily resolved or on its way to resolution. BZH you will enter Shabbat with peace and menuchat HaNefesh.

amother

Red

Fri, May 14 2021, 12:07 pm

As someone who works in bookkeeping, I would imagine the answer is taking out a business loan (which, if you made enough money to owe 150k in taxes, should be pretty easy to get). I'm sure your dh thought of this though.

Notsobusy

Fri, May 14 2021, 12:12 pm

amother [ OP ] wrote:

I understand your husband completely. When my husband is stressed about something he wants to talk it over until I'm ready to scream. When I'm stressed I go into my head space and I don't want to talk about it at all.

I'm sure it's so hard for you, because you care and worry about him, so you want to discuss it with him. But I get why he doesn't want to discuss it with you right now. For me it's just an added stress to keep discussing the issues.

I hope it all gets resolved easily and you guys can have a peaceful Shabbos and Shavuos.

amother

Powderblue

Fri, May 14 2021, 12:23 pm

amother [ Burgundy ] wrote:

Something doesn't add up here.

We just dealt with something similar. Due to some crazy clause (not getting into that here) our accountant informed us two days ago that we have to pay $400k by Monday. That is not a typo. BH indicative of the fact that we earned a lot this year, but still very stressful!

Amarante

Fri, May 14 2021, 12:59 pm

amother [ OP ] wrote:

Yes, this explains it basically.

Thank you!
Why the heck are people jumping to your dh might be keeping things from you. He doesn’t!

In fairness, the original post made it seem as if OP didn't have any idea of what the bill was. It was only in a later post that she clarified that it was a business tax issue.

I don't think most spouses would have that kind of understanding of complicated business tax issues unless they were actually running the business. Most business owners don't have that kind of knowledge because they are relying on their expert CPA or tax attorney. Unfortunately this accountant seems to have not been very knowledgeable which isn't the fault of OP OR her husband.

amother

Orange

Fri, May 14 2021, 1:11 pm

Crookshanks wrote:

Because when you post about a problem on imamother, you need one of three things:
Therapy, a divorce, or birth control.

Why the choice, why not all three? 🤣

amother

Lemon

Fri, May 14 2021, 1:12 pm

You can mail a check instead and you will have the float.

You don’t nessecarily need a new accountant. You should just make sure to communicate with him earlier in the year Or ask the business for estimated numbers earlier in the year

shmoosh

Fri, May 14 2021, 2:40 pm

amother [ OP ] wrote:

Bh he just told me it’s basically taken care of!
He is so relieved, I only now realize how stressed he actually was! He is definitely the type to keep it in unlike me.

I’m so happy to hear that! I was about to post that leave it to him and focus your attention elsewhere. It sounds like he’s a great guy who manages to figure things out and be”h this time he will too, and it seems he did.

amother

Fuchsia

Fri, May 14 2021, 2:50 pm

OP, can you put in the thread title that there is an update and that it was taken care of?

I'm glad to hear it worked out.

In the future, if you don't want to be jumped on, perhaps word the title a bit differently. It made my mind automatically jump to "DH is hiding something." If you had written in the title "DH's business - sudden huge tax bill" it might have had a different effect.

amother

Fri, May 14 2021, 3:22 pm

amother [ Fuchsia ] wrote:

Thanks I did.
To tell you the truth I started this thread to get clarity on my stress vs dh. And that is why I kept it vague.
I guess this would apply any time a spouse can’t cover the bills or is tight....does the other spouse usually get stressed too? Or they leave it up to him....

I’m trying to imagine the other way around, if I have household stress say erev Pesach, my dh doesn’t get stressed out too,
he just tries to help....