Thursday, April 12, 2012

Final 2012 Tax Breakdown

I finished up our 2012 taxes on Turbo Tax today. After all was said and done, the final amount owed ended up being $5,901. $4,317 for Federal and $1,584 for State. It felt good to set up the payments via automatic withdrawal. One less check and stamp that I'll have to use! I enjoy being able to save money any where I can :-)

I'm happy psyched to put this bill behind us! Honestly, I can't imagine we'll have to owe again in the future. We have ABSOLUTELY no intention of ever changing our withholding again (it's at zero!) and it's likely we'll be eligible for some sort of deduction in the future (hopefully a home). I also feel good knowing that money from our paychecks can now be focused back onto paying down our debt.

I look forward to updating my debt breakdown next month when we've actually made some real progress! Stay tuned.


  1. That is awesome!! Nothing feels better then checking one debt off the list.

  2. Awesome. Congratulations. I'm looking forward to next month's update. It's going to be awesome.