Taxes are completed and we don’t owe!
Oh such sweet relief to see that we don’t owe! These darned taxes have been weighing me down since the beginning of the year. First to gather all the information for our accountant and then waiting on the outcome. Admittedly, I stress over taxes every year. This year felt a little worse with having started a new business. I worried about the books, I worried about not paying enough, I worried about being hit with a huge tax bill, I worried about getting them finished on time, I worried about everything!
I so wish I could take it all in stride like my husband. He always tells me there in nothing we can do to change it, but I digress! While worrying certainly isn’t the answer, I feel we can be better prepared and next year we will be! This year I am bound and determined to do a better job by staying organized, keeping up with the business books (our CPA said they looked great!), paying close attention to estimated quarterly payments and also keeping extra money in our business account…just in case! For now I can breathe easy for the next 9 months!
So, how did we do with our taxes? After paying our CPA, we are getting back just a little over $1,500. While some might argue that we let Uncle Sam use too much of our money, I am comfortable with this amount. With my husband traveling for a living and my new business, we have far too many variables to simply break even. For me, it is sweet relief in not having to write a check to cover our tax bill. As for what we intend to do with the refund, you’ll just need to stay tuned!
Do you stress over your taxes each year or do you take it all in stride?
Awesome news that your taxes are completed and you don’t owe! I’m sure that is quite a relief! Every single year we have received an income tax refund….until probably this year. While we haven’t completed our taxes yet, I am concerned we will owe since we had to withdraw money from our 401K to help bridge the financial gap from when my husband was out of work. Fingers crossed it’s not too much! And, that we don’t get audited since we have had so many years of refunds up to this point!
I hope things go smoothly with your taxes too. Always such a high stress time!
Once we stopped using (and getting ripped of by) H&R Block and got a CPA, I’ve loved tax time. I was a 1099 contractor for 12 years, so I was use to setting aside money, and keeping tracking of receipts. After I had kids it was a lot easier too. Now that I stay home and just DH works, tax time is pretty simple. Just a W2. We had a lot of medical to deal with, but other than that…simple. Glad you didn’t owe anything!
Sorry for the late reply. Somehow your comment ended up in the spam folder and I am just now seeing it. Truly a relief not to owe! I look forward to the day when our taxes are more simplified.