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Category Archives: Taxes

I LOVE Tax Refunds

Tweet I’ve said it before and I’ll say it again: I love tax refunds. This love is exponentially increased when we are experiencing somewhat of a cash crunch and are trying desperately to bridge that gap between my full-time employment in August and the dwindling amounts in our saving accounts. Last weekend, we stayed up until 2AM crunching the […]

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Big tax refunds: love ‘em or hate ‘em?

Tweet I have to say that this year, I am loving big tax refunds. We will be receiving over $5,000 back in state and federal income tax refunds. Even though this means that we gave the government a $5,000+ interest-free loan, I’m so happy we’ll now have $5,000 in one lump sum. In the words of the […]

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Tax Procrastinators, Unite!

Tweet Given that the tax filing deadline (April 18) is less than a week away, I think it’s safe to designate everyone who hasn’t filed his/her taxes yet a tax procrastinator. Yes, I count yours truly in this category. But I have a good reason! I owe $1,300 on my taxes for 2010, so I […]

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H&R Block Tax Software Giveaway

Tweet April 18th is tax filing deadline, just over a month away. If you have already finished your taxes – congratulations! If you haven’t, here’s your chance to win free tax software to make the process just a little less painful. The Prize: 5 H&R Block Tax Codes ($55 value each) H&R Block will provide […]

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Don’t Forget Taxes for Freelance Earnings / Side Income

Tweet Who doesn’t love extra earnings from the side hustle? My side income allows me the chance to save a little extra for retirement and make the occasional, frivolous (yet so enjoyable) purchase. Before I started making a little bit of money from self-employment income, however, I never realized that freelancers are responsible for 100% […]

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I Like Getting Tax Refunds

Tweet The running line among personal finance experts is that those who get tax refunds are simpletons who can’t do basic math or spendthrifts who have no self-control. After all, a tax refund is essentially an interest-free loan to the government for a year. The popular thinking goes: if you readjust your tax forms and […]

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By the numbers

Tweet $434 = Federal and State taxes saved per pay period   **at first I thought my net pay should be higher, but then I remembered that Social Security and Medicare taxes are not affected by deductions in taxable income $4783 = taxes saved for 2009 if I max out 401K (~$434 per pay period x […]

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Musings on Unemployment Insurance/Benefits

Tweet It seems that Dog Ate My Finances has created another uproar within the blogosphere by refusing to apply for unemployment insurance after a recent job loss. Her feeling (that unemployment is equivalent to a hand-out – which I don’t agree with) may tick people off, but her action (not taking unemployment, which, in some […]

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Taxes (or, GRR is the word)

Tweet I owe close to $1,000 for federal and state taxes. This is due to lack of a 401(k) this year – I could’ve brought down my taxable income by $15,500 if only my employer offered the 401(k) option to me. (Do you see why I am such a huge fan of a “universal” or […]

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One of My Biggest Personal Finance Pet Peeves

Tweet Here’s one of my biggest personal finance pet peeves: one of the biggest source of tax deferral for the middle class, the 401(K), is utterly dependent on the employer. Doesn’t this arrangement feel a little anachronistic in an age where careers may be characterized by frequent job changes and/or stints at self-employment? I didn’t […]

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Finally, Uncle Sam!

Tweet So I got my state & federal tax refund (~$1,500)… I put basically everything into the Freedom Fund and retirement portfolio. (Sidebars updated). But, as a little something something for myself, I bought a BCBG dress ($26 at Marshall’s) and red patent leather pumps ($10 at Ross). I know, I’ve TOTALLY fallen off the […]

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Letter to California

Tweet Dear California, I love so many things about you. The sunny weather of Los Angeles. The beautiful lights of San Francisco. The seaside breeze of San Diego. The quaint charm of Santa Barbara. I love your food and people and even your moniker, the Golden State. And I think Arnold has a legitimate claim […]

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Who wants a FREE copy of TaxCut?

Tweet ‘Cause I’ve got one to give away! Thanks to the folks at H&R Block, I have the key code for one TaxCut Online Premium + State + efile (a $59.95 value). All you need to do is to comment on this post and tell me an interesting fact about taxes or your thoughts about […]

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Taxes are gettin' me down

Tweet Sigh. So, I would not be eligible for the Economic Stimulus refund because my parents claimed me as a dependent on their return. (Not that I’m complaining.. they did support me for 22 years, after all). My tax obligation for 2008 will be high because I can shelter only ~$5,000 of my income (the […]

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Dude, where's my check?

Tweet So I got my tax returns back from the accountant, and this is what I found in the client notes section: “Your projected economic stimulus payment is $0 because you are ineligible for the rebate or your federal Adjusted Gross Income exceeds the economic stimulus payment AGI limits.” !?!?!? Let me repeat that. !?!?!?!?!?!? […]

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