Thursday, December 8, 2011
So, I don't want to jump the gun or anything.... but I may not owe on my taxes next year! I received an email today that Turbo Tax opened up their 2012 tax forms online. I had already calculated out what my W-2 "should" look like by the end of the year, so I had the basic numbers all set to input. Imagine my surprise when the top right corner, where a possible refund could be, actually had green numbers up there!
I have been dreading, planning, and anticipating seeing the evil RED numbers showing how much I would owe. We have it budgeted to set aside around $4K for taxes next spring. Holy crap, we may not need to do that! I would honestly be happy to break even and just not owe, that would mean we are doing it right. I was so nervous because of the fiasco we had earlier this year where we ended up owing for the first time ever - $7K in taxes! Because I had to play with my deductions so I could come up with the money to pay those taxes, I was sure I screwed myself into having to owe again. It looks like that may not be the case.
I won't count my chickens before they are hatched though, my quick calculations didn't include the hubby's income from this year. I'll have to play around with what he made at each job (3 of them) and enter that in too. That could be a game changer if it bumps us up to a higher tax bracket. We'll see though. For today, I have a smile on my face, thinking of other things we could do with that $4k instead!