Paying Uncle Sam

January 30, 2006 at 6:40pm By: Mr. Wilson Posted in 625 Elm Street

Two very unusual tax-related events happened at the Wilson household this weekend. First, I actually looked at our taxes before April. That in itself is unbelievable. Second, it looks like we might actually get a refund this year, if only a small one.

Not unlike most Americans, I’m usually a bit of a procrastinator when it comes to preparing and filing my taxes. I don’t want to do that this year, though, because there’s a small, but non-zero, chance that our new little pooper could decide to show up around tax season. The last thing I’ll want to do is taxes if that happens. So a February filing it is.

It was great to see that The Missus and I might receive a refund this year rather than having to pay extra, like usual. Our problem in the past was that we were not withholding enough, mainly because I made too much untaxed money umping and reffing (and, unlike many sports officials, I actually report that income). This year we adjusted our withholdings, and things look much better now.

How many of you folks out there have already taken a look at your taxes? Any tax filing tips you’d like to share?

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Mr. T January 31, 2006 at 1:31am

I haven’t done taxes yet. I will likely wait until April when I get all the information I need from various entities (my banks, IRA manager, etc). Although its fun to get a refund, I look at it like this - even if you end up paying back at the end, at least you had your own $ to generate interest in the meantime. Ideally I would prefer to neither receive a refund or pay back, but I usually end up receiving a refund of a few hundred. Which goes immediately into paying car insurance or whatever.

Joshua Wiltshire January 31, 2006 at 11:24pm

Since I pay for school out of pocket, I get all my tax money back at the end of the year.  Sweet deal.  I’m using it to get myself a new computer in a few weeks.

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