So, Trey started to do our taxes last weekend with TurboTax, and was very dismayed that it showed we owed the federal government money. Last night he started over, and the result was about the same. We're not talking just a little bit, we're talking 1 1/2 mortgage payments. The only other time we owed $ was last year when Trey's withholdings at Binny's were not correct. Prior to that we'd gotten nice fat refunds every year.
Now, I understand that everyone is responsible for him/herself, so smack me for not doing more research on this at the front end, but how is it that we owe that much money when:
a) we both withhold claiming 0 dependants
b) we have mortgage and student loan interest to deduct
c) we don't make that much money
Anyway, this is distressing me a great deal. One of the people in Trey's band is an accountant, and he's going to look at things for us. Still, I just don't understand - to actually have paid the correct amount of income tax, according to what Turbo tax is telling us, we'd each have to be having an extra $100 a month withheld. I fail to see how that is normal.
Other than that, things are fine. I have the day off today for Lincoln's birthday, and have a facial planned for later in the day - haven't had one in almost 2 years. It's snowing again, but just lightly, and I think the snow is keeping the temperature up - right now it's 18. In contrast, Sunday it was sunny, but the high was 0 (zero). Siggy's sitting in my lap right now and talking to me. He's cute. :-) Work is good, and will be busy for the rest of the week, but I'll try to right more. Have a good one!
9 comments:
Your plans for the day sound fabulous!
yea...something seems up with the tax thing - doesn't make sense to me! (not that it ever makes sense...) I always thought the mortgage and student loan interest would have you getting a refund, even if you claimed like 5 dependants! Any capital gains? or having the wrong decimal somewhere? Yea. I'm no help there. that sucks! I DREAD doing taxes - I have to do Ohio state taxes with my first 6 weeks of Oregon Income (I claimed being an Ohio resident - being an out of state student being my reasoning). Then I have 7 weeks worth of California taxes, those while I was "living" in Ohio, as well. Then I officially moved to Oregon, so I finally have 7 months Oregon taxes. BLECH.
I HATE TAXES. We're in the same boat and we're getting... $13.00 back! WTF?!?!
Hooray for some pampering. Hope you have fuN!
I want to get a facial sooooo much! I have never had one and boy do I need it!
I have no idea about the taxes. Hopefully there is a decimal error somewhere and you are actually getting all of that back :)
Your day sounds lovely - but the best part is the cat in the lap. I wish I had one myself!!! (Just not happening in a one-room-apartment with no garden, though...)
I have no clue about what you are saying about taxes, so glad we don't have to do that here. But it sounds horrible and I really hope that you'll find the flaw to get some refund. Good Luck!
P.S.: Thanks for the nice comment on my blog. I don't have a sister, though.
the tax thing is awful. Mine got screwed up big time and we owed several mortgage payments which was HORRIBLE. result - we now pay to get our taxes done so the "front end" mistakes (me!) as you call them get corrected from the start
I think I already commented on this in my blog, but if I didn't...
Last year we paid lilke 2K in taxes. We were totally caught off guard. That was like a triple mortgage payment for us. SUUUUCKED.
This year, we made triple the money and are getting a REFUND of 300 bucks. WTF? What saved us was the mega interest on our new house plus student loan deduction. We won't be eligible for the student loan deduct next year, but we're counting on our mortgage to at least keep us even.
Part of it was that our jobs weren't taking out enough money the last year. Something about the tax table they were using. Still sucked. So I feel your pain. And the feds are messed up.
If this isn't reason to abolish the IRS and OVER-simplify the tax code, I don't know what is.
Actually, Sarah, only getting $13.00 back is a good thing - it means you aren't sending them too much of your money. It's better for you to have your own money, where it is working for you, earning interest or being spent on necessary or fun things, rather than in the hands of the government being misspent and not earning interest.
I agree 100% with Trey - cutting it as close to zero is best.
Post a Comment