So excited for our tax return $$

FutureMrsJW

We get will get $1 back!!!!  We always aim to have a $0 balance, and this is officially the closest we've gotten.

startingover2010

KelleyA

That's awesome!  We're hoping to be close to $0 too... We'll see!

PAGAS

That is awesome!

I have been preparing internally for how big our tax bill is going to be.  It makes me want to vomit.

LMA06

That is fantastic. I know we are going to owe and I am sick about it.

OUKatie

PAGAS:

That is awesome!

I have been preparing internally for how big our tax bill is going to be.  It makes me want to vomit.

Us, too. Geez, I don't even want to THINK about it.

The only redeeming thing about April 15th this year is that we no longer have to make estimated quarterly payments so I won't have 2 huge payments going out on 1 day. 

RaeAnt

I'm not our tax preparer for obvious reasons, but may I ask why so many of you owe vs getting a a refund? Do you have your own businesses or is it due to how you have deductions? Like I said, I don't do our taxes for obvious reasons. We've just never owed and always get a refund. It sucks that we get so much less since moving to TX than we did in PA. Please enlighten me.

FutureMrsJW

RaeAnt:

I'm not our tax preparer for obvious reasons, but may I ask why so many of you owe vs getting a a refund? Do you have your own businesses or is it due to how you have deductions? Like I said, I don't do our taxes for obvious reasons. We've just never owed and always get a refund. It sucks that we get so much less since moving to TX than we did in PA. Please enlighten me.

We always aim to make it zero, or even owe a little.  You give the government an interest free loan when you receive a refund.   I know several people, DH and I included, that would rather have to pay than float a free loan to the government. 

charlotteL

RaeAnt:

I'm not our tax preparer for obvious reasons, but may I ask why so many of you owe vs getting a a refund? Do you have your own businesses or is it due to how you have deductions? Like I said, I don't do our taxes for obvious reasons. We've just never owed and always get a refund. It sucks that we get so much less since moving to TX than we did in PA. Please enlighten me.

Getting a refund is bad.  It means that the government has been holding on to your money.  

Link 

odear

charlotteL:

RaeAnt:

I'm not our tax preparer for obvious reasons, but may I ask why so many of you owe vs getting a a refund? Do you have your own businesses or is it due to how you have deductions? Like I said, I don't do our taxes for obvious reasons. We've just never owed and always get a refund. It sucks that we get so much less since moving to TX than we did in PA. Please enlighten me.

Getting a refund is bad.  It means that the government has been holding on to your money.  

Link 

AND you didn't have that $$ throughout the year.  Refunds aren't a bonus, it YOUR $$ that you weren't able to spend, save, invest, etc because you were giving the government an interest-free loan.

mom2ll

odear:

charlotteL:

RaeAnt:

I'm not our tax preparer for obvious reasons, but may I ask why so many of you owe vs getting a a refund? Do you have your own businesses or is it due to how you have deductions? Like I said, I don't do our taxes for obvious reasons. We've just never owed and always get a refund. It sucks that we get so much less since moving to TX than we did in PA. Please enlighten me.

Getting a refund is bad.  It means that the government has been holding on to your money.  

Link 

AND you didn't have that $$ throughout the year.  Refunds aren't a bonus, it YOUR $$ that you weren't able to spend, save, invest, etc because you were giving the government an interest-free loan.

Yep. We always owe.  We like to hold on to our money for as long as possible.

FutureMrsJW

Ideally we would have rather owed the $1, but we'll take it.  J is already trying to figure out 2012, looking at what the little one will do.

OUKatie

We always owe because DH is a consultant (so self-employed). As he typically makes more each year than the previous one, we base our payments off what he made the previous year then owe a bit, normally with no or a teeny (under $10) penalty which I much prefer than getting a refund since we actually have to set money aside and make the quarterly payments.

Self-employment has it's downsides. The insane taxes SUCK.

RaeAnt

Got it. DH basically said the same thing when I mentioned it. Right now though, since we've really been sucking at saving, having a refund (while interest free) is good for us. Hopefully this year we can get all our debt paid off. That's the plan (except student loans) anyway. Then we can really get to saving. Gotta get that 20% saved for our dream house!!!!