Looking for some Suze Orman style advice. Here' is the issue. How I do I plan / budget for the immediate future, when I have a tax liability and I don't know what is or how much I will need to pay for a few months?
I was so fed up with my roommates I decided to look for a new place even though have a VERY cheap rent controlled place in SF - I find a new place thats reasonably priced to the market even though its 40% more than I pay currently. As this is happening, I check all my finances and discover I have a potentially large tax liability due to some a problem with some past returns that I didn't know about. I visit tax pros who say they can work it out ( at a cost about $2k) - but I will likely end up with a monthly installment plan of an amount I cannot know (but they say will be reasonable) until filing is complete ( this could take months). So...I have no way to know what the payment(s) will be..or how budget for this new payment/liability.
Do I proceed to move into the more expensive new place even though I don't know what my finances are goin to be like down the road? Or back out and stay put at current place to keep my expenses down (& stay with the crappy roommates) and use the money saved to pay down the debt ( I will lose the deposit)......
I've had some sleepless nights over this and I need to make a plan ASAP as the first is almost here....any one with a background or experience with personal budgeting / debt management / back taxes,...I would love to hear some ideas. If you are a professional I would be open to a paid consultation....
Submitted September 28, 2018 at 07:54PM by LBearSF https://ift.tt/2xWzsXB
