So I got a phone call from my tax accountant that he was done with our 2009 Income Tax. Both DH and I dutifully drove down to meet our accountant and signed documentations to prepare our filing.
Usually around Mid-March, we should have our return money in the bank by now. But this year, we got a bit lazy and procrastinated.
You're probably thinking why in the world would we let the government hold onto our money interest free? We knew we were getting a nice return but just didn't know how much.
Low and behold it was nice to see that we were getting back $15K from Federal and $5K from the State of California. Well this return is justifiable since we paid close to $80K in tax withholding in 2009. Moreover, we were able to claim the interest of our two mortgage.
I already have $7K of this return money earmarked to pay off the lingering debt of $12K.
Husband also decided to give $5K of this return to his mom. She has fallen on some tough times and he wanted to help out.