It’s that time of the year. Filing my tax return is usually a chore for me. I have to gather all of my docs, check them, enter the numbers into TurboTax, print them, file, and mail them. So I tend to procrastinate when it comes to filing my tax return. But thanks to my persistent wife, I finally got it done.
I used TurboTax to do a free e-File of the Fed Tax forms two weeks ago. Like the software says, the return should be fast within 8 business days. I confirmed I got my return from the Feds last Monday!
Last week I snail-mailed the California State Tax forms. The reason is E-file’s not free for State filings. Besides, this state is bankrupt anyway and they’re delaying all income tax returns by at least 30 days.
I tend to overpay my taxes. I don’t want to give too much of my money, interest free, to Uncle Sam. It always make me cringe to see the adjusted income is much lower than what the company gave me.
I contribute a lot to charitable donations. That’s how my tax refunds are always high, every year. The national average, according to TurboTax is around $4500 for charitable donations. I’ve contributed at least double that! I’m spreading the blessing around. It’s the least I can do to help this world.
Looks like I’ll stroll into my company’s payroll department and have them increase my deductions. I did it last year (early 2008), and it was obviously not enough. I sure can use all the money I can get!
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My wife does my taxes, but using HR Block instead of TaxCut. I “kind of” just started a business this year though, so we’ll see how much fun it is next year! I’m thinking about buying Microsoft Money to help along the way since it integrates with HR Block TaxCut… Unfortunately, there is a heavy chance of rain (losses) so I suppose I’ll need proof of that. I expect losses though, considering every bit I make I put back into it + more (borrowing income from myself via being an employee of another).
I think my state is bankrupt too. I know they’re making cutbacks, however the mayor of our Baltimore city is getting raises along with her 2nd in command. Everyone has a problem with it, but I suppose no one feels like they can do anything… I heard Obama’s people invited, then specifically uninvited Mayor Dixon (assumingly due to her continuously bad publicity regarding scandals/selfishness?)
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Hey David,
In this economy, I think the IRS will need to be lenient with businesses that are reporting losses. Especially for small business. They need all the break they can get.
I’m a firm believer the small/medium businesses will need to be fostered/supported to get us out of this economy. We need more jobs. Cutting their taxes is surely required too.