WooHoo it's tax time!

[everythingsxen]

I got my W-2 and calculated my taxes.

Let's see, the Government too about a third of each paycheck this year. (check)
According to TurboTax I can take 1500$ in deductions. (check)
So I am getting back.....

I owe 700$!!!???

Maybe it's a tax for being on DU? Or for not supporting the war enough.

*sigh*

I just can't catch a break. I was planning on paying off back bills with my refund money.

[eyesroll]

1. Think of it this way...you had the use of that $700 through the year,

and the IRS did not.

It's actually better, from a financial planning standpoint, to owe a small amount, than it is to have a refund coming. (Course if you're not expecting it...ouch. :hurts:)

I'm still waiting on one 1099, but I think I'll be owing the IRS money as well. That seems to happen whenever my withholding/filing status changes -- this year, I went from married/joint to single.

[everythingsxen]

3. Unless of course...

You only get 700$ for a paycheck and spend more than that on bills.

Oh well. At least Cheney will only have to pay as much as I do. So it's all fair and equal right.

[hfojvt]

2. what is $1500 in deductions?

Is that above the standard deduction or not?

[everythingsxen]

4. It was for expenses related to my work...

and it said the standard deduction was 5000$ and the program said I should take the standard deduction and not the itemized stuff because the standard was higher.