Jan 26, 2010

I filed our taxes this morning. Like most folks, when I am expecting a refund, I file as soon as possible. When I owe them, I wait until the last instant. I generally try to plan so that no one owes anyone anything, but this year there were a couple of stimulus items that shifted us to the refund side of things. Our taxes are fairly simple, a couple of W-2s, a couple of 1099s and presto, I'm ready to file. This was the first year that we didn't itemize in about 40 years. Not having a house payment helps out. We live in a low-tax state, relatively speaking. Our state tax bill was just a bit over $2K and our property taxes about the same. That's among the reasons people move to Arizona to retire. Even with our low taxes out here I was struck by something. All in all, we paid about 26% of our annual income in taxes of one sort or another. Federal, state, property, SS and Medicare and sales taxes all add up. Think of it this way. when I get to the hardware store at nine this morning, I will be working until just past 11 am to satisfy my tax obligation to the government. But then again, we get to keep 3/4, so that's something. Maybe I can get the boss to let me come in to work at 11:30 and I won't have to pay any taxes. Things in this blog represented to be fact, may or may not actually be true. The writer is frequently wrong, sometimes just full of it, but always judgmental and cranky

9 comments:

Reya Mellicker said...

You definitely pay less than we do. It's at least 30% here. Bravo for getting it done so early. I salute you!

The Bug said...

Ours is always so confusing. Last year Dr. M worked for FOUR different schools. I worked for one company, but they restructured, so I'll be getting 2 W2s. That's SIX for the two of us. Sheesh!

Kurt said...

Tax on $0 income = $0.

Barbara said...

Maybe the boss can just pay you in cash and then you won't have to declare any income! (But I know you're way too ethical for that approach.)

Annie Ha said...

Taxes are a pain in the ass.

Megan said...

I need to stop claiming that extra one for child care expenses. I keep forgetting I don't pay them any longer. At least, not to a third party...

mouse (aka kimy) said...

really most people get refunds? we generally get ours in around april 15th...I can't remember when we had a federal refund - nah, actually I do it was when we had some deductions - now, nada ust owe, owe, owe to everyone including uncle sam. I wouldn't mind the bucks to uncle sam, if they were spent on things like health care, schools, road, jobs, housing - and not corporate bail-outs, the military-industrial complex, etc.

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Steve said...

Bravo on paying so early! I have to wait for info from my co-op on mortgage interest, and that always takes forever to arrive, so I usually don't get everything filed until February. Fortunately, I always get a refund.