I Like Doing My Taxes

I may be one of the 10 people in the world who actually likes to do his taxes. I enjoy looking at all of the numbers, entering the information, checking and re-checking. This year, my tax filing will be a bit more “complex” than in previous years. I have interest income, income from this site, charitable gift deductions, child-care credits… all kinds of things to enter and configure. Even though I adjusted my withholdings last year, I should still get a decent tax-rebate. (Please note, as much as I hate the idea of giving the government an interest-free loan, I hate the idea of fines and penalties even more. When it comes to my taxes, I ere on the side of over-payment as opposed to under-payment. This may not be the “soundest” financial position, but it helps me sleep a bit better. I do not want to be on the wrong side of any entity that has an Army.) I adjusted my withholdings to have a little more take-home, but I still send in enough to be on the “safe-side”. I usually hunt and peck until I find some way to pay my taxes for free. Whenever I find where I’m going to file, I’ll let you know. Various sites will run specials throughout the filing season.

Edit:  My Money Blog has a couple of cool posts about free federal and free state income tax filing.  Good job!

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6 thoughts on “I Like Doing My Taxes
  1. K.C. Jones

    So, I’m not alone.

    I actually like doing my taxes as well. In fact, I’d be lying if I said that I haven’t been getting antsy as I await my W2.

    Personally, due to my situation, I don’t mind giving the ‘tax-free loan’ to the government, since I am able to put the small year-end windfall towards my debt load. If I had that money throughout the year or owed money come tax-time, I don’t know if I would have the 365-day restraint needed to use it the right way.

  2. MrsBart

    I too love doing my taxes. I’m a small government kind of girl and try to get as much of my money back from the Feds and state (Taxachusetts) as I can. Of course, I’m not shooting for a big refund, just the unjustified 48% of my annual bonus that got stolen last December. I’ve got one 1099 and am printing the others today. Please let my W2 get here soon!

  3. Chuck

    I don’t know so much that its I like doing my taxes, but rather I don’t like the thought of paying some else a couple hundred bucks to do them. I didn’t mind doing them when I just had a W2 and a couple 1099s, but mine has become increasingly complicated the last few years (home office deduction, 1065 for side business, countless 1099s…) and I wonder this year if I’m getting in over my head.

  4. Bill Woessner

    Me, too. I like doing my taxes. To me, it’s like trying to beat the system. And last year, I definitely won. For 2006, I estimate our overall tax liability at just 5.8%. I also got our withholdings just right so that we’re looking at a $50 refund.

    On the flip side of that, I HATE our tax code. The fact that there’s an entire industry devoted to helping people with their taxes is a sign of complete and total legislative failure. I guess I shouldn’t complain too much, though, since the tax code serves me well.

  5. Amber

    I love doing my taxes although I have gotten lazy the past few years and pay for the privilage of doing them online. This year I tinkered with my withholdings and found out I guessed correctly. Instead of overpaying by $600 last year I only overpaid by $60! That rocks. I knew that if I was wrong, ie I underpaid, that my student loan interest would save me. For next year I’m now armed with a plan to pull the same stunt again. Yay! Now if all my information that I’m waiting on will just get here so I can file already!

  6. Ellen

    I totally agree. My taxes last year were INSANELY complicated (generated income in 19 different states), and I had a blast spending an afternoon working on them. This year, I stayed in one job and have one W2, and it’s such a relief! Still fun, though.

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