Friday, January 21, 2011

Tax Time...

The last couple of years, Cathy and I have struggled to get our tax situation straight.

I had usually set myself up to get a large return, and she had set herself up to get hardly any return at all. Last year was the worst for us, as Cathy had somehow gotten her holdings set up in a way that made it seem like we were married and had a all of the extra money that they took out of my paycheck was just barely enough for us to break even at the end of the year.

Well, this year we got it all straightened out. Our year end bonuses from work are taxed pretty heavily, but they also aren't high enough to put us into another tax bracket, so a majority of that tax we are getting back. We'll be getting $1,100 from the Federal Government back and $300 from the State. I already did the taxes and got them filed, so we should get the money back before we end up going to Las Vegas.

I'm not sure what I'm going to do with my half. I'm thinking I have a bill or two that I would like to pay off, and then the rest I will probably try to save as a start for Hawai'i next year.

Either way, it's nice to have finally gotten them all straightened out.

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