Tax Season

[moonmagick]

Has everyone done their taxes? I did mine, and oh my what a difference having a baby makes. I was excited to see that I would be getting a significant amount back this year. I am definately paying off a couple of bills, and putting the rest in savings. How about you? Any grand plans for your return?

[katharina]

Quote:

Originally Posted by moonmagick

I am definately paying off a couple of bills, and putting the rest in savings. How about you? Any grand plans for your return?

I wish we'd have enough of a refund to *have* grand plans. hehe We
choose to have extra all throughout the year and the deductions reflect
that. Refunds are always less than $300 but that's fine... it will pay the
hotel for our mini-vacation next month.

[mamab]

We generally get caught up on things that are only required once a year - like tags, taxes, etc. Rarely do *I* get to spend money on myself, usually we get something the whole family will like.

[Calypso]

Don't even remind me of tax season. Last year, due to illness, I had to cash in a ROTH IRA and because I'm not fifty-nine and a half I had to pay a 10% penalty as well as all kinds of interest. I got slammed on federal AND state taxes and still had to pay the tax preparer as well.

[katharina]

Quote:

Originally Posted by Calypso

Don't even remind me of tax season. Last year, due to illness, I had to cash in a ROTH IRA and because I'm not fifty-nine and a half I had to pay a 10% penalty as well as all kinds of interest. I got slammed on federal AND state taxes and still had to pay the tax preparer as well.

Ick! That's certainly a very good reason to dread doing taxes! Are you
planning to file for an extension? We've never done that and I don't know
why I always put doing the taxes off as long as I do... it's always pretty
painless.

[mamab]

Look at it this way, Calypso, you shouldn't get dinged for those penalties again this year. They're only supposed to take the penalty the year that you actually make the withdrawal, so hopefully this year's taxes won't be so bad.

[Melizzy]

I got back a nice sized refund this year. I had massive medical bills and will continue to have for the rest of my life. It's almost as good as having a baby. Almost.

[moonmagick]

I had to take some money out of my 401k last year too. SO I ended up owing a pretty penny. Thank goodness I was able to set up a payment plan. I was dreading doing them this year for that reason, but luckily, all of the penalties seem to be done and with the new baby, it was actually a bit more than I was used to before. For a change.

[Calypso]

I had my taxes done and paid them--figured I might as well get it over with. Next year should be okay because if it comes right down to it, I'm going to starve to death rather than touch that *$%*$ IRA again!

[dwalliz]

i wished that i got that much back for taxes this year but even after I write off and deduct, I got little back