/journal (just to irk Frank)
Last year, I owed $181 in Federal taxes, and got $200 back in State taxes. Because of that, in 2007 I paid an extra $50 per paycheck into Federal taxes to help offset that. I'm really glad I did, because we fell in a different bracket this year, and even with the extra $50 a paycheck ($1400 extra in taxes), we still owed $74. If I hadn't paid that extra money, that would have been $1474. That would have SUCKED.
Then I kept entering deductions. It was unimpressed with our measley house interest and insurance. It laughed at our property tax deduction. It especially skoffed at our "tax preparation fee" credit of a whole $25 from last year's TurboTax. It also didn't seem to care too much about our tiny little community college tuition payments. But then it asked us some questions about our school, and we told them it's our first time going.
BAM. HOPE CREDIT AHOY! Suddenly, our $74 owed became almost a $2800 refund. That's nice.
Although I'm apparently still going to have to rework my W-4s. Again. I love W-4s. It's like a big guessing game. What combination of claimed deductions and extra money will I have to pay this year? Who knows... but I can guess at the beginning of the year! Wheeeeeeeeeee!
Oh. And I owe the state of Ohio $50 this year. Stupid. They'll get it on or around April 15th.
11 years ago