I did ours this weekend -- it took about 2 hrs. with TurboTax and we're getting a nice juicy refund.

ours are completely done now, and filed....DOn and I went this morning to sign the forms, so we should have our return next week.

Dh just told me we are getting a huge return this year. Between his bonus and the interest on the house and on the construction loan, the governenment had lots of our money this year.

We've not started yet. Just last week we got a 1099. We generally wait until the end of February to even think about them as it takes that long to get all the 1099's.

TurboTax is really easy if your taxes are simple. I used to just do mine by hand, but that was when I filed the short form. We have more deductions now. I've never gone to a preparer. One year I did my dad's taxes for him with TT and we found an error his accountant had made the year before!

Done and the refund in the bank.

After listening to my dh do them, I have to laugh everytime I see the tax commercial that has the guy doing the taxes and is stuck. He got his info from a box, obviously a computer program. His wife says, "well call the people who helped you, OH that's right the box told you how to do them, well then let's ask the box" It gives me a warm feeling everytime I see it.

I'm started but not done yet. Thankfully this is my last year with business expenses which is why it takes me so long to do it and why I procrastinate it soooo much. I am anxious to know where I stand this year though so it's a pretty high priority to work on them this weekend. Should be seeing a refund because I have always overwithheld on my salary because I never really knew what my biz was going to do to my taxes. When I get my new job, I'm going to make a good attempt to figure out more accurately what I should be doing so I can put that money to better use for myself. It is fun to get those big chunks though.

Peg

I don't see it as an "interest-free" loan...I look at it like I stuck the money under my mattress for a year and pull it out to see how much has accumulated.

We did our electronically last week and the refund money was in our account this morning!

quote:

Originally posted by TriGirl:
I would imagine that your husband probably prides himself on his skill in figuring out exactly how much to have withheld each year

Mine does too. It's the MBA/engineer in him : )

I installed Turbo Tax and got through all the income categories and most of the deduction categories last Saturday. Still have to finish. My refund is looking juicy too...so far.

quote:

Originally posted by TriGirl:
I would imagine that your husband probably prides himself on his skill in figuring out exactly how much to have withheld each year -- sort of CPA target practice.

Besides, how likely is it that we wouldn't have blown that money if we had it?

Yes, he plays around with it all the time.

AND yes, his philosophy is correct IF you are disciplined and a saver. I have become more of one as I have gotten older, AND being married to him.

Were I left to my own devices though, I probably would also be spending all that money, and then would be scrambling to come up with the money I needed to pay the taxes that I owed.

Dawn

I would imagine that your husband probably prides himself on his skill in figuring out exactly how much to have withheld each year -- sort of CPA target practice.

We aren't that exact and usually have a refund of some size. This year I switched from working full-time to being a grad assistant mid-year, which probably affected our outcome.

I know it's not all that great a way to save money, but when I consider how low interest rates are on savings accounts, getting a nice chunk of money at once isn't such a bad deal for us vs. potentially having to come up with a bunch at the end of the year. Besides, how likely is it that we wouldn't have blown that money if we had it?

quote:

Originally posted by Brie:
I used to get super excited about getting a big refund until I figured out it was my money that I had lent the government for a year ; )

On the other hand, it's certainly better than owing!
.

That's how DH looks at it. It is an interest free loan to the gov't, and it means it wasn't in our bank acct. earning interest for us.

He doesn't want to owe a lot, but he would rather owe a little, than get a refund. He said his goal is to owe $200.

Dawn

I used to get super excited about getting a big refund until I figured out it was my money that I had lent the government for a year ; )

On the other hand, it's certainly better than owing!

We get a refund every year because of dh's bonus structure. It's taxed at the highest rate possible and then we end up getting a bunch back.

Yep, DH is a CPA and he really does think doing our taxes is fun. He was chomping at the bit waiting for me to get my W-2.

We are actually going to get a refund, which DH is not too happy about, but it isn't too much, so he's not too bent out of shape about it.

Dawn

We gave our information to our accountant (FIL ) last Friday and it will be filed electronically either today or tomorrow, I'm expecting our refund by the end of the month. Can't wait....we MAY be able to get our Camry (Some of you may remember that it caught on fire on the way into the garage 2 1/2 years ago) fixed and back on the road again....I'm praying that that works out so that the kids and I will have a vehicle here at our disposal and we will be able to keep the mileage down on the van as well.

We're doing ours tomorrow. Fun, fun ; )