Taxes...

Last Saturday we got our taxes done. We were very interested in how they would come out since there have been so many changes since last year. Our income went up since we both have full-time "big-people" jobs. We were not students so we lost that deduction. We bought a house this year. We lived in CA this year instead of UT where the taxes are lower. Overall it was a good experience. We got a nice return and learned a lot about the way deductions work.

The good news:

Thanks to the house deductions, we were able to buy this awesome rug with our return.


The bad news:

I worked up until December 23 2006 at BYU. Apparently the paycheck for a couple of these hours was not sent until beginning of 2007. Because it was only $60, no taxes were taken out. All of this was forgotten until BYU sent me a W-2. The problem? Because I made income in Utah in 2007, and did not pay taxes on income in 2007, I have to pay a $20.00 fee to the state of Utah and a $2 fee to Federal. Plus postage to send it to them. That is over 37% of the measly $60 check paid in fees. Lame? You bet. Good thing I love that rug so much.



PS-Buying a house is a great investment, it reduced our taxable income by a ton. I would highly recommend it.