Friday, February 1, 2008

Tax Time Over Here

I've been meaning to wait until March to do our taxes, but I was getting anxious to do them. Here's what I'm looking at right now as a rough draft:

Income: $34,540
AGI: $34,540
Itemized Deduction: $12,430
Credits: $1023
EIC: $114
Refund: $431

I need to make sure we have all deductions & credits correct, but so far it's looking pretty good for us. This is even after having 9 exemptions at work. I'm not going to be adjusting the exemptions, so next year we may need to pay something.

And to think we increased our net worth by $25K last year on that much income (our rental income cancels itself out due to expenses).

1 comment:

JW said...

I'm sure that you will be getting back something.

Good Luck