Paying taxes and an over worked hubby

[WebLady]

DH did his taxes last night and he has to owe alot more than we expected. So he got to thinking about how much more he has worked this year (working FT with a friend) over last year (only PT with this friend and PT for himself); he says he made roughly the same money, but had to work alot more to get it and now has to pay way more taxes.

He was recently offered a partnership with his friend and it sounded like a great thing for us, but now he is not so sure. He says he is working too much and not seeing the benifits he expected. When he does get time off he is tired and/or burnt out and doesn't want to work on other things that can make more money with less work.

He is sick today and thinks it is because he is worn down from working 10+ hrs a day for nearly 3 weeks straight with no off day. So he is going to talk to his friend and hope they can come up with a better arrangment.

I feel bad that he has to work so hard; I know he really wants to pay off our debt and build a good future for us.

[lizzy]

I am so sorry to hear that your husband is having a rough time. I completely understand. I have ended up owing about three times what I expected in taxes after getting married (my own fault for not adjusting more). But it is still rough. The over-worked thing is so difficult to deal with. Both my husband and I are working on side projects outside of our already over full-time jobs and it really can be rough at times. We both know and hope that our hard work is to help better our future, but sometimes it is hard to see the light at the end of the tunnel.
Wish you both the best with trying to figure out the best arrangement for him.

[SerendipityCrafts]

It's a catch 22. If you work more, it can put you in the next tax bracket, and so you are taxed more and you bring home about the same pay or just a few bucks more. Sometimes, it makes more financial sense to work less :)

Or .... work the 40 hours at work but then do some type of side work from home so that you can write off part of your rent, electricity etc.

[WebLady]

Or .... work the 40 hours at work but then do some type of side work from home so that you can write off part of your rent, electricity etc.I think that is pretty much what he was getting at; when he worked more on his stuff he made the same money and got more write offs and thus less owned on taxes.

I worry alot about money when he starts talking about all our debt, and that huge number he told me he owed in taxes didn't help! I just start thinking about all that we want and need to do and how we want to retire by 50 and I just don't see how at the rate we are going.

But I am trying not to worry and just trust him and trust that God will take care us :sweatdrop:

[SerendipityCrafts]

But I am trying not to worry and just trust him and trust that God will take care us :sweatdrop:

That will happen but it's all about what He feels you need. Some times, we see things differently :)

I must admit that I am not a big believer in working for the "man". It's a necessary thing so that we have a steady income to count on but it just doesn't seem to get us ahead of "the game". I have also seen too many people who worked for years and years at one place only to find that one day, their services are no longer needed :(

For this reason, DH and I are trying to get ahead a bit by working on our business but just in case the day should come where either one of us is laid off (through no fault of our own), we'll have at least a little something to fall back on.

Your DH is very very talented! I don't know what the market is like in your area but it would seem to me, that he could do just as well on the side if not better than by working overtime.

BTW - do you help him build the furniture, cabinets and stuff? How do you look in a tool belt :) ?

[SerendipityCrafts]

I don't know how well the furniture sells online .... but I've seen some pretty pricey pieces that are listed at ETSY ... http://www.etsy.com/category_top.php?top_tag=furniture&order=price_desc&page=1

Your DH's stuff is so nice though, it should be in a gallery.

[WebLady]

That will happen but it's all about what He feels you need. Some times, we see things differently :)

I must admit that I am not a big believer in working for the "man". It's a necessary thing so that we have a steady income to count on but it just doesn't seem to get us ahead of "the game". I have also seen too many people who worked for years and years at one place only to find that one day, their services are no longer needed :(

For this reason, DH and I are trying to get ahead a bit by working on our business but just in case the day should come where either one of us is laid off (through no fault of our own), we'll have at least a little something to fall back on.

Your DH is very very talented! I don't know what the market is like in your area but it would seem to me, that he could do just as well on the side if not better than by working overtime.

BTW - do you help him build the furniture, cabinets and stuff? How do you look in a tool belt :) ?

I hear ya about working for "the man"; DH has always said he wanted to work for himself.

There have been times where we made good money with him just working on his stuff.

He doesn't really sell the furnature stuff; he did all that mostly for us, but he has done a few custom peices. He mostly makes and sells high end conference tables. And no I don't help much ;-) He asks me my opinion on designs and stuff, and I do the website; he is a tough customer though :p

[WebLady]

I don't know how well the furniture sells online .... but I've seen some pretty pricey pieces that are listed at ETSY ... http://www.etsy.com/category_top.php?top_tag=furniture&order=price_desc&page=1This is along the lines of the sort of thing he likes to do -
http://www.etsy.com/view_listing.php?listing_id=7028025

Your DH's stuff is so nice though, it should be in a gallery.A couple of years ago he had some peices in a local art gallery show :D We didn't sell anything though :(

[SerendipityCrafts]

This is along the lines of the sort of thing he likes to do -
http://www.etsy.com/view_listing.php?listing_id=7028025

He likes a challenge doesn't he? :)

A couple of years ago he had some peices in a local art gallery show :D We didn't sell anything though :(

If at first you don't succeed .......... try, try, try, again ..... and maybe venture further, to where people who appreciate true craftsmanship (and also have the ability to pay for it :)) might see his stuff.

There have got to be forums, associations, shows, galleries etc. that specialize in this type of stuff. You have website experience. Think of DH as a commodity and market the heck out of him LOL