Friday

2009 Tax Return

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.

5 comments:

Money Reasons said...

$15,000! now that's a tax refund!!!

This year, I've procrastinated too. In fact, I'm just starting it this weekend!

I guess with all the tax changes and incentives, I thought I'd give the tax companies plenty of time to get the bugs out of their software. At least that's what I'm telling myself...

Random Thoughts of a Jersey Mom said...

It’s very generous of him to help out his mom! =) That's the good thing about having money; not only does it give us a cushion to fall back on, it gives us the ability to help others.

Money Honey SF said...

MoneyReason - Good excuse for procrastinating. I hope the bugs will sort itself out and get you a nice hefty return too. There's not bugs with my accountant. If there was, she'll be sick. Ha ha.

Random Thoughts - It is nice to help others out when we have money. Not everyone helps out when they have money. But we are one.

Investing Newbie said...

That is a generous return!!! Good for you to throw away that money on debt.

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