Not only is this never ending winter not ending, I have to do the taxes for 2013! After my first run at our the taxes for my family, I realized that my tax situation to put it mildly is sad. Turbo Tax says I made too much money (which I didn’t) and the federal and NJ state insists on me paying more to live the sub-standard life of the barely surviving month over month, in the state (NJ) where the standard of living is so high!
I tell you every year taxes get more confusing and the more Turbo Tax gets “easier” to use, I end up paying more. As I do my 2013 taxes for me and my kids, I see more and more that the more you make the more punishment you will have to bear..
I don’t want my readers to think I’m well off. I’m far from well off.
In 2013 I finally became “debt free”.. Yeah! Of course this was not because of my ability to pay bills or pay down debt in a logical and systematic manner. Only with my dad’s passing was I able to gain this status ”debt free”. What I couldn’t do when he was alive, I was able to do with the gifts he left for me.
I also refinanced my mortgages to a more efficient low rate 30 year mortgage (since the rates were at their lowest in many many years).
As usual, I’ve strayed way off tangent.. back to my tax time blues..
As every gift has hooks, my gifts had huge hooks. The gifts my dad left me sent me into the supposed status of “not qualified” for the basic deductions of child care credit, tuition credit and others.
I need to closely look at what I did wrong in 2013 by making “too much” and “not paying enough” and make sure I don’t do it again in 2014. I was reading Forbes 2013 tax guide and was getting more and more depressed… but such are the tax laws of this glorious country..
So as I sit here thinking how am I going to come up with the tax bill Uncle Sam wants from me..
The only thing I can really do is say…
- Hey it’s only 22 days till spring!
- Pitchers and catchers reported for spring training and I actually saw the grass in the front and back of my house..
- Spring time is the season for hope and renewal
Oh well. all is well.. Now I just have to finish my taxes and pay the tax man at my door…
How are you doing with your taxes? Having fun yet?