Feeling productive today. Got our taxes mostly done. Is generally how I handle it. Just get everything entered and then double check that tax forms match my records, as those forms come in. Try to file before February.
I really miss the professional work software and how much time it saved me. I've just been throwing tax projections into last year's software and then mentally tweaking what I know is different for the next year. It's not great but it's the most cost effective (and fast) way I can figure out how to do tax projections.
I had to share because when throwing all my numbers into tax software I was coming up with some large tax due at first. Was kind of ignoring and figuring it would sort out as I entered more data. Oh yeah, that extra $6K in medical expenses this year, ended up putting us massively over the standard deduction. That did help.
Towards the end though I still had $2,000 shown due. At the very end it was $2,001. Did I mess thing up that bad? Nope, I figured it out pretty quickly. That last $2,000 was college tax credits. Did I literally get our taxes down to the penny? Er, down to $1?! Holy cow!
I told MH to give me a gold star. 😁
In the end, I refined a couple of more deductions and so the taxes went down a bit. The only estimate that remains is I threw in some investment dividends as 'taxable' and I know a lot of that will sort out to non-taxable (qualified dividends at 0% tax rate). So that's the one thing I have to wait for to finalize. Should get investment tax forms in 1-2 weeks.