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January 25th, 2005


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06:48 pm - Taxes
Last bit of paperwork came in today (boy they're quick this year).

Filed em off. About $4k back from the feds, $1k from the state.

Whee.
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(7 comments | Speak your mind)

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[User Picture]
From:slowsync
Date:January 25th, 2005 11:52 pm (UTC)
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I'd love to know how you managed that. I did mine and showed $110 back from state and -$94 from the feds. I didn't file yet because I only did the 1040ez and I figure I might be able to get a bit more back if I put some effort into it.
[User Picture]
From:jon3
Date:January 25th, 2005 11:59 pm (UTC)
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Bump your witholding by $100 every year until you start getting money back from the feds.

My fed return consists of: a 1040 and a sched A.
My MA: a Form 1.

Quite simple.

I own my home, so that means I get money back from the state, usually. If you rent, you'll probably pay the state.

All that interest and whatnot is deductible.
[User Picture]
From:slowsync
Date:January 26th, 2005 12:06 am (UTC)
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Weird - I rent, and yet I my preliminary run through shows me owing the fed and getting money back from the state, not the other way.

I suppose you could argue it's better to owe a small amount than to get a large amount back - the theory being that you had your money during the course of the year, rather than the government holding it for you.
[User Picture]
From:jon3
Date:January 26th, 2005 12:13 am (UTC)
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But human nature makes it feel like "ooh, money!" when you get it back.

Plus, I prefer to know that I'm going to get some back. If I'm hit with a financial crisis, I'd prefer to know I'm not going to get further screwed come tax time.
(Deleted comment)
[User Picture]
From:jon3
Date:January 26th, 2005 12:24 am (UTC)
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My ability to overpay is to be feared! RAWR!
(Deleted comment)
[User Picture]
From:jon3
Date:January 26th, 2005 12:45 am (UTC)
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Stalk you, of course. DUH!
[User Picture]
From:natalie516
Date:January 26th, 2005 03:49 am (UTC)
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$4K??? This sucks... :( I did a preliminary and it looks like I am only going to get back maybe $2K from the feds and $580 from state...what did I do wrong???

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