February 12, 2009

Taxes are Done!

It's tax time here in the US.  Anny and I finished up our taxes last night and filed electronically.  (which means that I finished our taxes while Anny got Abby into bed.)  I think it's the fastest we've ever submitted, mostly because I'm afraid of forgetting to do it later on!  I don't think that I have ever waited until April 10th or later, but I've sure waited until the 1st before... 

One year, when we lived in Manassas, we took our taxes to one of those use-us-in-the-K-Mart joints and ended up forking out $95 and sitting there for two hours or more while some guy who only does taxes as a hobby hunted and pecked into his trusty computer.  When he left to use the telephone I took a glance at his computer screen only to see that he was

We're getting a sizable return this year, again.  I guess when you fork out more than $15k each for childcare and mortgage interest the Feds look on you with some favor.  (Though the childcare credit was only $600, which is a mere fraction of our output.)

We have gotten big refunds for the last few years, really, and that works for me.  Anny has begun to ask me if we should change our witholding on our paychecks to have the money more consistently through the year or if we should continue to get the big refund at the end of the year.  Really, she just brought it up and we haven't had time to discuss since then. 

I know that there are two theories on taxation:
1 - Take a lot from my paycheck and I get a big refund in the spring
-or-
2 - Take less from my paycheck, leaving me more on a monthly basis, in exchange for a smaller refund, or even payment, in the spring.

I think that the reason I am okay with Uncle Sam having more of my money during the year is that I can do a little splurging once a year.  I also figure that if my money is in "the system" it's being used for things much more important than me - the money is what is used to fund the programs and such that the govermnent is providing.


So - what do you do with your taxes?  Are you in the keep-my-money or the take-my-money kind of planner?  Why?  (Have you always done it and just never changed, or do you have new reasoning for me to know?)

3 comments:

  1. Thank you for reminding me! My husband installed turbo tax yesterday...I'm going to do my taxes right now!

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  2. I'm jealous that you all are done! I've finished my federal form, but still struggling with the Maryland state form. That form makes me crazy & it's even worse filing as a non-resident. ugh.

    On another note, LOVING Abby's pictures of late. I showed some friends last night & they thought she was the most adorable girl in the world. I must agree.

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  3. We haven't seen a refund in forever. Last year we started sending it out to a CPA because it just became so complicated. I think I got him all the paperwork on about April 12th (ok, probably more like the 13th) but it still got filed on time!

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