TAX RETURNS!

[patandchickens]

Sigh, I can't start ours for several months (tho Canada's filing date is Apr 30 not Apr 15) -- we don't get some of the necessary paperwork (from investments) sent to us til usually early to mid April. Grrrrrr.

FC, don't PAY the government to act as a savings account, girl -- readjust your withholding so YOU get the use of the money to generate interest, not them, and just set up an automatic monthly deduction into a separate savings account. It is super easy


Pat

 

[me&thegals]

We used to get a lot back, too, but adjusted our withholding to try to get it as evenly balanced as possible. We don't get all our tax forms back until the end of Jan, so still don't know how things will look...

 

[TTs Chicks]

We also E-File - have for years, I love direct deposit. Part of our refund has to go to escrow for our property taxes to keep my house payment from jumping $200 a month. Part has to go to vehicle repairs. Lord willing there will be enough left over to buy what we need to finish fencing our property. Soon as I get the fence up I can look for a beef cow

 

[Homesteadmom]

We've been e-filing for a few yrs too & it's great! I even taught my dad how to do it last yr. We will be using ours to put up our patio cover for the backside of the house & the fencing for the backyard area & if enough left we will finsih up the concrete work for the patio & walkway along the house too. We need new gates for out front too & I want the solar gate openers if we can afford them. Teh patio caover will help shade the house & windows from the sun in the summer & help keep the house cooler so less a/c running means less elec bill!!

 

[DrakeMaiden]

Working on my taxes here.

Hey, something cool and new this year is that you can deduct real estate taxes over and above the standard deduction, which totally kicks butt! I'm so excited . . . well, except for the fact that our tax return money will be turned over to the County to pay this year's real estate taxes. But it should cover that with a little bit left over.

We prefer to overpay, even knowing they are making interest on it and we aren't. For my part, I keep expecting taxes to go up again and I don't want to even think I am making enough money to go out and spend, spend, spend. Because I know I wouldn't think about taxes until they loom their ugly head once a year. I know my limits.

 

[Quail_Antwerp]

We filed, got part of it back, should have the rest in a week or so.

Our return was better than I thought it would be! I was shocked. My husband said my facial expression was priceless. I replied to him, "You almost had to pick me up off the floor!"

Most of it is going back into the farm. And a new chick order!

 

[SKR8PN]

My wife has a very good job at the local hospital and I am self employed,so we usually get back a little bit from both the state and fed every year. We also wait to file, and get a 6 month extension every year, on the advice of our accountant Any money we get back will go to savings or the "stash fund" for our SS supplies.

 

[the simple life]

I am curious, why does your accountant advise you to get an extension every year?

 

[nightshade]

we will be sinking most if not all we get back into moving and stuff for the new farm. Since we are starting from scratch we will need everything that we can not take with us. Fence, building supplies for the new coops and barn. A wood cook stove is on the top of my list I have wanted one for years like I can remember in my grandmother's kitchen when I was little but until we move I have not had a place to put it. The list goes on and on. Next years is already decided that it goes to the new farm too.

 

[enjoy the ride]

Since you still have to pay the taxes on time, I can only think that delaying filing allows you to get some more into IRA or 401 (k)s so that you can deduct that as if paid in the previous year.

If no animal gets sick- wood stove wood stove sood stove.........