I worked a lot of overtime last year (2014). A lot of overtime. I filed our taxes this morning using Turbo Tax. I paid 71 dollars for our federal and state returns. I'm getting a state return of 138 dollars direct deposit to my checking account.
I owe federal taxes. 1686 total. As soon as I find out that my return has been accepted to the IRS I have to check the balance in my savings account. I want this paid by the end of the month. I have about 800 dollars after paying all my bills this morning (I got my paycheck from work) and get paid every two weeks.
I will use what cash I have in my checking left over and use my savings. I have about 2 thousand in there. I would consider paying the IRS an emergency.
Upset...yep.
I asked my friend (financial analyst) if I could use my wagging hound dogs tails as a deduction for wind turbine. HAHAHA.
Yuck. Did you get any type of deduction for going back to school?
ReplyDeleteSince it's a graduate program, I got a 45 dollar credit. American Hope Credit. I was able to deduct my student loan interest from my bachelor's degree. but it was 668 dollars this time verses 3 thousand in 2013. Less interest from my mortgage since I'm paying extra to the principle. Deductions for dentist, eye glasses. One kid I can't claim, she's over 18 and not in school. Two kids under 18, but I make to much for any kind of subsidy wich as earned income credit. no day care expenses. I took credit for all my work expenses.
ReplyDeleteI take it your employer didn't withhold enough on your overtime earnings?
ReplyDeleteTime to adjust your # of deductions with them.....
You can look at the bright side tho--at least you didn't give the Gubermint a $1686 interest free loan of your money last year. 8-)
I have to speak to HR on Monday. I work all weekend night shift, so I can go to her office Monday morning to change my number of deductions. I honestly didn't even think about that. Thank you for the reminder.
DeleteI agree they are not taking enough deductions from you. Dh gets an extra $25 taken off each week for taxes just to make sure we don't owe.
ReplyDeleteI have to go to HR on Monday morning after I clock out of my shift. I'm planning on changing my deductions. I forgot that Sarah is 19 and I can't claim her anymore. Plus I'm going to have them take out extra money. I don't want to have a big surprise like this again in the future.
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