Taxes

2011 Income Taxes Filed

I have just finished filing my 2011 income taxes.  I used H&R Block at Home Online (now offering a 15% discount). Due to the fact that I changed jobs mid-year, my annual income was a little lower in 2011 than it was in 2010.  Couple that with the fact that we now have a mortgage (and mortgage interest) – and we received a little-bit-bigger-than-anticipated refund. I am not a big fan of “loaning” the government my money (interest free, at that), but I knew that the job-change might result in the refund.  We’ll count it as a blessing – and use the money – but we have already adjusted our withholding for 2012.  Our refund will be less, but our…

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Mortgage, Taxes

Plan For Our Tax Refund

I have almost finished working on our 2010 tax returns.  We will owe a very small amount in state taxes, but it looks like we’ll get a refund (think hundreds, not thousands) from Uncle Sam. Instead of using the money to go on a vacation, or to make a down-payment on a new car, or for buying a big screen television, every penny will go towards paying down our mortgage.  This week’s articles about being consumer-debt free have motivated me to get even-more-serious about paying off our mortgage.  Instead of spending the refund on more stuff – my plan is to put it to work doing what I do best – pay off debt.

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Taxes

It’s Time To Make The Taxes

It’s that time of year again – tax time. Yay. I sat down last night and started sorting through all of our tax documents for 2010. I’ve been using an online site to prepare out taxes for several years and will do the same this year. In early 2010, we purchased our first home. Our lender sent us Form 1098. We now know exactly how much interest we paid in 2010.  Because of this, we’ll be itemizing our deductions this year. Side note: It’s great to be in a place of our very own, but it’s a bit depressing to see just how much of our monthly payments go towards interest! This form is a great motivation for paying off…

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