W-2Crazy how things can change in the span on one year…

No, I’m not talking about the economy. Or maybe I am…

I dunno, you can decide…

Last year, at about this time, I was eagerly awaiting the arrival of my W-2 and other assorted 1099-MISC’s so that I could sit down, file my taxes, and get my nice fat tax refund — we received a check for $3444 last year!

This year, though, I’ve barely given a thought to doing my taxes.

Haven’t priced out the different versions of TurboTax and TaxCut.

I haven’t even opened my last pay stub of 2008 to get an idea of how things may fall yet.

In all honesty, I’m not even salivating about the “thousands” that could potentially be coming in just a few weeks.

Why?

My best guess is that it has something to do with being debt free.

Last year, we threw almost all of that money towards debt.

This year, we don’t have that hanging over us. We don’t really *need* the refund.

Oh, wait, we did just spend $1650 on baby furniture, didn’t we?

Okay, I take that “we don’t need it” line back — the tax refund will again be paying down debt this year…

The big difference is that it’s not weighing on my mind like it used to.

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3 COMMENTS

  1. Hi Kacie!
    You’re right — a $3k refund is crazy high, but there is actually a reason behind the madness…

    In the past I’ve done a lot of contract work on the side and I don’t have my taxes taken out because often times I the cash flow flowing to finance each project along the way.

    To compensate, I have additional taxes withheld from my 9-5 paycheck so that come tax time, I never owe a huge amount.

    Obviously last year (2007), I made a lot less from the contract work than I expected too, so my tax withholdings were much too high resulting in the huge refund.

    I don’t expect the refund this year to be as large (I changed my filing status on my W-4 last year) but given the fact that I already know that I made even LESS this year, I’m still expecting a refund…

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