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Archive for March, 2011

Income Taxes Done - Yay me!

March 8th, 2011 at 12:57 am

Finished my income tax return today. Yay me. I do them by hand, because I'm a nerd and I can take my time reading all the instructions. That was a problem this year since IRS is cutting down on paper mailing -- I had to search for all forms and instructions at the library and on line.

Anyway, I got everything I needed after several trips and lots of reading. All that footwork and reading was the bad news. The good news is I'm getting money back -- close to $2,000!!

My fear was that I had to pay. When I did the IRS calculator at irs.gov around Sep 2010, it calculated that I wasn't having enough income tax taken out of my pay, so that concerned me that I would owe extra and I increased my withholding. But I guess the calculator didn't take into account any credits I may have had. Such a complicated process!!

Anyhoo...

I know some people disagree with having a large return (they say it's an interest-free loan to the government), but hooey pooey to that!! This year it's helping me with money management. I can use all the help I can get. I'm excited to be getting a refund. It will help with funding my savings accounts. I would have been happy breaking even-- This is just a fabulous bonus!

Hope all of you have good news when it comes to income tax time. It's not a fun task, but it has to be dealt with.

Happy saving!