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Tax Time!

December 28th, 2006 at 01:59 pm

It's that time and I am excited. Most of the accountants I know wait until September to claim their refund - extend, extend, extend. So everyone else of course assumes the same of me. Pshaw!!! I will be filing Probably Feb. 1. (BEcause unfortunately dh's stupid broker waits until the last minute - make it March 1 probably - he is usually late with our info). Oh well, the last year to deal with him.

Today is pretty busy at work so I just snuck a little lunch break. BUT I am making headway and the kids and dh are gone tonight so when I get home I was thinking of pulling all the tax info I had. I paid all the bills - I have all the data for our deductions for 2006. Friday or Saturday, or next Tuesday I will plug in the #s to see where we are at.

Usually I am dead on federal and get $1500 back state (which really is nice though it annoys me sometime. Forced savings, but I could use it). BUT this year is unique with our ROTH IRA conversion. I offset it with some stock losses, so we'll see how all that pans out. I paid in a ton to fed already and I think all in all I will get a few hundred back from state and owe a few hundred fed. The beauty of e-file is you get all your refunds right away but the payments you can wait until 4/15. So I want to file as close to Feb. 1 as possible, get my state refund, and sock it away and earn interest on it until April 15th. Could squeeze out a month or 2 of interest. Why not...

But I guess I have a fear that I forgot something or that I messed up my calculations. So I really want to run the #s and see where we are at! & hopefully we will not owe too much...

I also look forward ot month-end/year-end, see where we are at. I think we are a little over budget this month. Credit card closes next wednesday but we are already to our budget for the month. PLUS dh drove to san jose today to pick up the kids and wants to go back this weekend for new years! YIkes! Would make it 4 trips in one month. Oh well, gas is not cheap, but we picked up the kids twice from free babysitting, babysitting doesn't get any cheaper (and safer - staying with grandma - don't trust many else to watch the kids). We haven't decided, but I am doing some freelance work saturday, dh is working on a move saturday night, then driving and partying sunday and driving monday - eeks. Not a relaxing weekend. Not helping the budget. I think I socked away more than I should have this month, but oh well, it's the only way we'll save!!! Will make it up next month. WIll get paid for all this weekend work next month.

I will just be glad when this year-end business is done at work. Knock on wood, but it all seems to be going okay. Though I will probably work late tonight. Somewhat in the hopes of escaping early tomorrow - finishing it all up by noon. I do not like doing things last minute, drives me batty, but only so much you can do with all this last-minute tax planning. I just don't want to be too down to the wire tomorrow night. So I am setting a goal for noon and we'll see where I land. Maybe then I can breathe for a week before the january craziness begins (preparing 1099s and W-2s, oh my). SO back to the grind!

2 Responses to “Tax Time!”

  1. LdyFaile Says:

    I am the same way, soon as I get my W2's I start plugging in numbers. I'll have three W2's this year though so I'll probably have to wait til Feb 1 to actually file. *sigh* I played with numbers and am hoping I don't owe anything. Won't know til I get all the paperwork. I think I did ok, guessing just based on what I usually pay not including student loan interest stuffs. I am hoping to get a little extra back because, well that's better than paying. But I'll settle for breaking even!

  2. reginaastralis Says:

    I try to file as close to Feb 1st as well, and this year is key. I get a bit back and its going to help us move into our house. We're hoping to rent in mid Feb. I'm really exicited about this year.

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