Wednesday, January 28, 2009

Taxing Times Or Give Me My Money!

Tax season is still almost three months away but I'm already taking a stab at it.  I figured so much has changed over the last year I'd better start early.

I've always done my own taxes.  I've been using TurboTax since I can't remember when.  You may have heard about it in the news recently.  It's the tax preparation software of choice for the new Secretary of  the Treasury, Timothy Geithner.  You know, the guy who forgot to report income.  I hope it was his fault and not the software's.

This year's return is going to be a doozy but it should be one that has a happy ending.  This tax year we sold and bought a house.  We have property taxes and income in two different states.  We have some major charitable donations from all the junk we didn't sell at the garage sale.  The Wife has job seeking expenses (they're deductible!?!).  We have moving expenses.  And on and on.

Our past returns were fairly simple.  The most complicated thing was investment stuff.  This year the investment stuff was relatively easy.  In preparation of buying our Nebraska home we liquidated all our taxable investment early last year.  It saved us a bundle when the market took a dump last fall.  Oh, we lost money but it wasn't nearly as much as we could have lost.  It's scary, if the economy had melted down one year earlier or if we decided to move one year later, I probably wouldn't be posting from the Midwest.  We would have lost a lot more money and the decision to move would have been dubious.  We were lucky.

Based on what I've done so far, it looks like we're going to get a nice tax refund from the Feds and California.  Nebraska will contribute a smaller but still welcome refund.  Of course, every silver lining has a cloud:  I've heard that California may be doling out IOUs this year.  Damn California ... won't let us go.

Random tangent:  Have you ever noticed that "Tai Chi" sounds a lot like "Tax Cheat"?  I wonder, does Geithner practices Tai Chi?

6 comments:

  1. (I hate blogger. It screws up so constantly when I try to post comments. Apparently blogger hates me too; my verification word is "ashol")

    Aaand typing it all again...

    I suspect that it's the user. After all, if you don't tell TT about the income, it can't really calculate it, right?

    If CA does send you an IOU, just remember that the state needs the money to provide all the services your friend GH depends upon, like roads and such. And you wouldn't want to hurt your friends, would you? ;)

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  2. Maybe you should use kirby's accountant...

    http://tinyurl.com/cl84g7

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  3. GH: HA. I doubt it's anything personal. Blogger hates everyone.

    I've already paid my share. This is a refund of my over-payment. And no, I would not want to hurt my friends :-) But give me my money! >-O

    Phil: I sorta look like that when I'm doing my taxes LOL!

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  4. I thought is was me with blogger. I'm glad I'm not the only one. Too funny about the verification word, GH. I'm almost afraid to see what mine is going to be.

    I'm so used to paying Uncle Sam (no deduction bu us). I'm hoping since hubby retired, we can recoup a little from what I've paid all year. Keep your fingers, toes, eyes and anything else crossed for me.

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  5. er, that should have read, ...but us ... not bu us. dang fingers

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  6. Dobegil: My fingers and toes are crossed. Good Luck at Uncle Sam's Casino.

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