More taxes
Apr. 15th, 2007 04:24 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
likethebeerOur friend, ND, told me about line 71 of the 1040 tax form: "Credit for federal telephone excise tax paid" (the link is a .pdf). For 1 person w/no dependents, it adds up to $30 that you get back on your taxes. When he told me last night, I wondered whether it was worth my time, b/c I'd already prepared them all and had them in the mailbox.
But then I realized I made some stupid mistake on my state taxes, so I redid my fed taxes & state taxes.
After 3 hours, I really felt this wasn't worth my time. After all, I hope to earn more than $10/hour by now.
But then I realized I totally missed something on the state taxes. They let you take a certain amount off your taxes for your amount of "property taxes paid on the home". I missed this for some stupid reason. I had just put $0 down, when it should have been $101.
That saved me $95 on my state taxes. So, in all, ND saved me $125! I'm almost as excited about this as I was about my original tax refund. In fact, even more so for some reason. Probably b/c the previous refund is what I've come to expect. Instead, ND's persuasion made me feel like $125 just fell from the sky.
And, since I redid my taxes, I redirected the fed refund to my savings account instead of checking. My savinds account is my "buffer fund" and the, "omg one day I might be able to actually buy a money market fund with this money" fund. If it goes into checking (sometime in mid-June), it just gets sucked up into the regular grind of paying regular bills.
But then I realized I made some stupid mistake on my state taxes, so I redid my fed taxes & state taxes.
After 3 hours, I really felt this wasn't worth my time. After all, I hope to earn more than $10/hour by now.
But then I realized I totally missed something on the state taxes. They let you take a certain amount off your taxes for your amount of "property taxes paid on the home". I missed this for some stupid reason. I had just put $0 down, when it should have been $101.
That saved me $95 on my state taxes. So, in all, ND saved me $125! I'm almost as excited about this as I was about my original tax refund. In fact, even more so for some reason. Probably b/c the previous refund is what I've come to expect. Instead, ND's persuasion made me feel like $125 just fell from the sky.
And, since I redid my taxes, I redirected the fed refund to my savings account instead of checking. My savinds account is my "buffer fund" and the, "omg one day I might be able to actually buy a money market fund with this money" fund. If it goes into checking (sometime in mid-June), it just gets sucked up into the regular grind of paying regular bills.
