Taxes Finally Filed
Thu 10 Apr 2008, Written by Eden | 2 Comments
Categories: Finance
Normally we have have the taxes done in February, but we procrastinated badly this year- mostly because we knew we would have to pay some money. Fortunately, the amount owed turned out to be about half of what I had estimated with some rough calculations in my head.
Between State and Federal, we have to pay about $1,100. I was expecting about $2,000, so while it’s more than I would like to pay, it is a sort of pleasant surprise. I earned a lot more freelance money last year and I lowered my withholding from my regular employer to help pay off debt so it’s not a surprise that I owe money. I’m going to try to make better estimates this year and be a little more prepared, but I am also planning to keep my withholding low until the credit cards are paid off. I’d rather have those out of my life and have to scramble a bit at the end of the year to handle the tax bill.
So…if you are still waiting to file, you only have 6 more days so don’t wait too much longer! By the way, we use Turbo Tax to do our taxes. We have used it for at least 5 years or so. It gets the job done and helps to find some deductions that you would likely miss on your own. However, I am likely going to try using a tax professional next year. I want to see how good or bad a job we are doing with finding deductions and using Turbo Tax
. I expect to do more and more freelance work as time goes on, so I think the cost for a tax professional will likely be well worth it. That being said, it’s hard to beat $20 for Turbo Tax
(we had a rebate, I think it is closer to $40 now)!
If you have yet to file, be sure to check these helpful posts from the Personal Finance blog world for some last minute tips and tricks.
- Attention all tax procrastinators!
- Free filing for your economic stimulus check
- About paying estimated taxes
Best of luck to everyone with your taxes this year. If you had to pay like we did, at least you’ll be getting your money back soon thanks to those silly sub-prime lenders! ![]()



