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Feeling Better about No-Spend Spending and Still Doing Taxes

January 20th, 2016 at 09:12 pm

Thank you to everyone who commented on my last post - I feel so much better about buying those books for F - they come tomorrow and she will be so surprised.

She is working so hard on learning the spelling bee words! The bee is this Saturday morning, and right afterward one of her three best friends is having a birthday party (lunch and movie).

If you have any soccer girls, the books are called The Kicks, and they were written by USWNT superstar Alex Morgan. F really loved her autobiography, too.

I cleaned up the office a little bit this morning (lots left to do, but a little bit a day will work), posted something on Craigslist and then did a bit more on our taxes. Still need to input:
- D's W2 (which hasn't been issued yet so I guess I have to wait)
- D's work 401K - will this be part of the W2?
- 1099 from energy rebates (also still waiting on this to arrive)
- Irish house rental and expenses - D is working on this
- Irish taxes - D is working on this, too

Turbo Tax doesn't care if I don't have everything. It's tracking our refund.

I know it's a bit early to start our taxes, but I'm a little over-eager! Have you started yours yet?

Posted in Frugal Living | 7 Comments »

7 Responses to “Feeling Better about No-Spend Spending and Still Doing Taxes”

  1. ceejay74 Says:
    January 20th, 2016 at 10:05 pm 1453327513
    1453327513

    Rewarding kids, especially when they have no expectation of being rewarded for the good work they're doing, is priceless. That will be so fun to give them to her! Smile

    I know that AS has a bunch of clients with whom she billed enough to warrant a 1099, so I'm in no hurry to start taxes until those start rolling in.

    Plus, this is her first full year of freelancing, and I'm not sure if I paid enough estimated taxes. And I had a big windfall that I'm hoping I saved enough tax money for. Not looking forward to finding out either of us owes a ton in taxes! Of course it could go the other way, but I'm feeling pessimistic about it.

  2. creditcardfree Says:
    January 20th, 2016 at 10:17 pm 1453328220
    1453328220

    Haven't started taxes yet. I believe W2 is available in four days, so might start then. I already have a few documents. It's going to be a different year with having paid college tuition and housing. New things to learn...so I'm actually dreading it a bit. I also think we will owe a little money, thus no real rush.

  3. Buendia Says:
    January 20th, 2016 at 10:48 pm 1453330123
    1453330123

    Taxes are strange, aren't they? We have all sorts of special situations, but they came on gradually so only one or two new things to learn each year... Last year I had to learn to do that FBAR thing where you have to declare foreign bank accounts - ugh!

  4. MonkeyMama Says:
    January 20th, 2016 at 11:59 pm 1453334361
    1453334361

    Taxes pretty much done here! I'd have filed, but I need my spouse's W-2 first. (I need his employer's Tax ID# for e-file). I didn't foresee that would be the hold up, but it's not the worst to wait a few more days to be sure I didn't miss anything.

    Our taxes are pretty simple and I just like to get them done before I worry about everyone else's taxes.

  5. FrugalTexan75 Says:
    January 21st, 2016 at 03:48 am 1453348122
    1453348122

    I haven't gotten any tax forms yet. (other than Cap one/ING) I'm itching to get started! Mr FT got his W2 already and had me print out the forms for him. So he might get his taxes done this year before I do!

  6. Kiki Says:
    January 21st, 2016 at 07:01 am 1453359688
    1453359688

    I made my yearly binder of receipts and expenses by month over the weekend. I was trying to make sure i had all the expenses from buying a house and having a room mate. She pays a flat fee and we have quite a few common household expenses i buy and she uses: laundry siap and dryer sheets, cleaning materials, coffee, etc. I have one 1099 in waiting on others. And i am waiting for my w2 and 1095 health care thing from the state. I have a lot of receipts this year. With buying the house, the room mate, the business i hope to have a large refund!

    I still dont understand the mortgage interest thing if some one wants to explain it to me in laymans terms.

  7. creditcardfree Says:
    January 21st, 2016 at 12:40 pm 1453380056
    1453380056

    @Kiki, IF you itemize on your tax return, you can included all interest paid to your mortgage company for the year. This would be on a Schedule A. Nearly all software would walk you through that to determine if you should itemize or take the standard deduction. Always take the larger one, of course!

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