Tuesday, April 17, 2012

Tax Day

It's April 17th - which means that all Federal, State and Local Taxes are Due!!

I'm glad I've had mine done for quite some time.  I'm glad I got a refund (except the Professor's Local Taxes!).  I hate reading and hearing this argument about a Tax Free Loan to the Government.  It's ridiculous.  I enjoy receiving a lump sum payment at the end of the year.  With interest rates on my personal checking account at .01% - what did I really miss out on??  $0.25!  That's it.  That's the interest I would have earned on my refund if I had received it bi-weekly in my paychecks.

For that amount, I'm glad I got a refund.  I would have been REALLY angry if I owed taxes at year-end when that wasn't planned for!  The professor tried making that happen, but I'm way to sly for the tax code for that to happen.

In addition, we used tax time to fund our IRA - which will benefit us in the future.  So, I enjoy doing taxes.  I know it's a pain to gather all the paper work and document everything - but it was nice to get a refund and FINALLY pay off that Honeymoon! 

Lastly - I'm tired of hearing people complain about how complicated the tax system is.  Those people are keeping HR Block and other tax people employed because for most individuals, Turbo Tax are other e-file devices are perfectly suitable to help walk people through the process.  It asks you questions about your year and identifies potential tax deductions or credits.  It takes a little bit of effort and some reading, but why wouldn't you want to save some money, do it yourself, and be confident in your refund!  I just don't understand.  Now, self-employed individuals, or others with crazy investment properties and such - I have no issues with asking for assistance.  But for a standard simple return - use computers.  They've already made our lives so much easier.

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