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Home > Taxes almost done, and OMG!!

Taxes almost done, and OMG!!

February 19th, 2008 at 01:21 am

.....wow. First off, let me say that I thought we would be breaking even on taxes this year. I always wound up owing or breaking even, and this was the first year filing with the house and the rent we get from the house as well as I got an extra 10$ a week federal taken out (thinking it would offset the rent $$$ we are getting) and getting taxes taken out for single even though we claim married. As I don't want the gov't getting an interest-free loan compliments of yours truly, I will be adjusting it.

I got our taxes done today.... sorta. I wasn't aware that half the water bill and half the user fee was deductible, and there was some other paper for closing costs on the house that I didn't have, so I have to get all that together, get the closing thing from my attorney and go back Friday for the final numbers.

BUT as it stands NOW, our federal return is $4,900 and the state is $650. OMG!!!!! OMG! I wonder if the tax guy realized I was about the break down into tears.

What does this mean? $500 to my mom who I owe that to to get that out of the way. She hasn't asked for it, but who doesn't feel awful owing their mom money? Then to fully find the baby EF. And then whatever else we get will go towards the blasted CC bills and will make a dent. Not a HUGE dent, but a dent nonetheless. No, it will be a pretty good dent. YAY! WOOHOO! So I figure I'll line up all the bills, highest interest rate first. I believe the highest is the WaMu card which we owe about $9,000 on and the interest rate is insane, so that should pretty much cut it in half, which means the $282 monthly payment should be much less I'm going to have to look at everything. There might be a tiny card here and there I pay off also (like the JCPenney's card that I owe like $139 on)

I can't remember where I saw it, but the word was "intaxication" which is the feeling of elation when you find that you're getting a refund, then the letdown when you realized the government was getting an interest-free loan the whole year. hahaha.

: ) Good thing I'm being all responsible now. Old me would have taken that money and ran away to Disney World for a week.

In other news, our beloved foster dog we've had since December is now up for adoption. I'm SO sad to see her go and if we were in a better financial situation she'd be staying here.... we nursed her back to health and she's just great, but we can't afford to keep her, obviously. She'll be gone this week to her forever home and then we'll get a new foster dog soon...


4 Responses to “Taxes almost done, and OMG!!”

  1. mom-sense Says:
    1203385074


    Good for you! We are getting $6,500 on federal and $850 on state. Plus the tax rebate we'll be getting, we'll be able to get ahead of the real estate taxes and tackle some debt!

  2. cptacek Says:
    1203387774

    Hey, don't beat yourself up about it. Your situation changed and you didn't quite know how to handle the taxes. You are using the money for good (very good...highest interest first, after Mom!) and so long as you learn from your mistake (i.e., change your withholding for this year) it didn't cause too much harm. And good for you with not going to Disney with the money!

  3. terri77 Says:
    1203410914

    Congratulations!

  4. SingleGuyMoney Says:
    1203432101

    At first, I thought you meant you owed that much. After i read a little more, I realized that the news was much better and you are actually getting a nice refund.

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