Anyhoo, I feel like scrolling back to see if I posted or hinted @ this but here's where things stand as of today:

Fed taxes owed: 6k
State taxes owed: unknown for now (I'm guesttimating 4k)
Fed taxes seized: -2k
New total debt: ~40-42k

And so it goes.

I am toying w/1 of 2 approaches to my tax debt.

Option 1: Put it ALL on the cc's.

:O

I know it's downright sacrilegious to say, but the minimum monthly we are looking @ is $200 or more and again, not including the state. That same total balance on one CC will give me a smaller minimum/mo. Yes I'll get eaten alive w/the interest, but once I get my other smaller debts paid off, I can ramp up my snowball again.

Option 2: go w/their minimum and/or see if my EA can get a smaller payment. Problem w/that is, I'm currently on a retainer, if he is able to save me say 1k but the hours it took him to do so cost me almost 1k, it's all a wash.

I'm really leaning towards option 1.

I just spoke to him and he's going to file for an installment agreement this week, he said that'll make them happy and we are still waiting for the last W2 for my state return of that year.

********

As far as Job #2 goes, I'll work 2-3 nights a week, Sat nite and Sun AM, as we get closer to holidays and hours pick up, I'll work more night and the week I'm most likely to get 40 hours, I may take vacation from the day job and work FT during that week.

That money is going str8 to debt repayment. Matter of fact, I recently separated my bank accounts to reflect that. Job #1 goes to my main account and pays for my living expenses etc. Bonus monies and now Job #2 goes to my second checking account.

Job #1 pays the minimum payment on all debts, while Job #2 pays the extra money. What I found was happening was all money would get dumped into checking account #1 and I'm make a mental note not to touch $xx, and end up using it to pay for something else and it gave me a false sense of security that I actually made more than I really did.

Also, w/job #2, today I go in and complete paper work, I am going to have them take out as much taxes as possible to help offset some of my current tax debt. It won't hurt if I don't see it. This gig is in retail and I worked @ the store a few years back. The biggest problem for me is to not be tempted to spend money being around so many pretty things, but I am going to hold strong.

One thing that helped was I calculated how much I wanted an hour and for the longest time, I'd multiply that by the hours I could work than take out 30% in taxes. This time I took the 30% right out of the hourly wage and was almost floored by how much I'd actually bring home.

I mean people make a big stink over someone making $5.25/hour as minimum wage but once you take out taxes an such it's anywhere from 3.67 - 4.45 an hour or $30 – 36/ day *if* you are lucky enough to get an 8 hour shift and let's be honest, that is hard work to be doing for 8 hours any way.

Let's just say it really was an eye opener and while I knew what the net check was @ the end of each week, seeing it by the hour and by the day, especially in light of my newfound debt, makes me less likely to want to spend a penny outside of debt repayment.

Later this week (I PROMISE NOT TO FORGET!!) I will discuss my new debt repayment pay off date, the new timeline and my ambitious monthly goal...