Tuesday, February 3, 2009

Slowly Starting My Taxes

My last 1099-misc came in the mail yesterday, so I started in putting the basics into Turbo Tax.  I'm using a different computer than the one I used last year, no importation of last years data to this year! 

I do have to give myself a pat on the back for spending the time this past year semi-organizing my reciepts. I at least have reciepts sorted out by category and by part time job.  I know from past experience not all my reciepts are tax deductible, but I know many are true part time business expenses. I will go through my file box where I'm keeping the reciepts and get it "up to date" tonight.  I am also grateful that I had the foresight to get a tracking system in place NOW for this years business expenses to make next years taxes a little less daunting.

My goal is to get most of the tax information done over the next two nights, head off to the weekend job, come back and hopefully finish and file the return.  I'm also hoping for a substantial refund. Right now with no deductions listed, I owe about $550 to the Federal Government. Last year I had to turn back to my BK Trustee all but $300 of my state and federal income tax refund. I'd like to be able to use part of this years refund to go towards my trip and toward my E Fund.  We shall see how it all pans out!

How are you doing on your returns?

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