Category Archives: Taxes

I Filed our 2012 Taxes

I filed our 2012 taxes this past weekend. We are going to get a pretty hefty tax return. $8,000 of our hard earned money is coming back to us. We actually projected our taxes as if we were making our annual salary. But since, we started working halfway through the year after graduation we didn’t make as much money as we projected. Both my husband and I, also, had education credits this year ($5,000 of education credits). Thus, we ended up getting back all of the taxes we paid in last year. This money will be going to paying off our car loan in March and funding our down payment fund :) Yippee!!!

While getting a tax return is cool, I don’t like giving the government an interest free loan. We were trying to get used to the amount of money we receive monthly from our paychecks, and thus, decided to pay the regular tax rate.

I used Turbo Tax to file our taxes. I think it’s an excellent software program to use if your taxes aren’t too complicated. I like doing my taxes because I like to understand all of our deductions, exemptions, and credits. What program do you use?

While I dislike paying taxes because I think our government does not utilize our funds wisely, I much rather pay taxes than live any where else. As Americans, we are very lucky to live in this country. When I read about a labor camp in North Korea, women being unable to vote in the Middle East, the warlord states in Africa, I am thankful for being in this country.

Will you be getting a tax refund this year? What’s your plan?

2011 Taxes

We just filed our taxes for 2011. It was the first time filing taxes as a married couple and not as dependents. I hope everything goes through okay, since last year my parents claimed me as a dependent and my husband’s parents claimed him as a dependent. We used TurboTax Deluxe, and it was so easy to use. I love how they go through every possible deduction! It’s wonderful. We paid $32 for the e-file. Once the IRS clears it, we should get a pretty hefty return, $2400. This is awesome since we are students, and every dollar counts! We will probably use part of the money to get my hubby an X-BOX in June. The rest will go straight to savings. On another note, I still have to work on my parents’ tax returns.

Some things I need to remember for next year.

–       Keep track of charitable contributions receipts

–       Keep track of all medical receipts

Next year our taxes will be a little more complicated, so I am thankful it was easy this year.

How did you file your tax return? Did you owe taxes or receive a return?

P.S. UPDATE- I filed the tax return after midnight, and was approved by the morning! That was easy and painless! I’m relieved!