September 2, 2011

Would You Like Some Tax Refund with That?

One of the paperwork that I dread yearly is the computation of income tax, especially when I need to pay more than what was already deducted from my salary. While it is easier for employees like me because our tax is computed automatically and deducted from our pay, there are purchases and other expenses that can still minimize the amount of tax we need to pay. However, computing these deductions manually and doing the necessary paperwork is sometimes too tedious you would think its not worth the refund anymore. Good thing that there is tax extension deadline that gives you more time to work on it and see if you can get the biggest tax refund possible. I actually look forward to the month of February because that is the time we are informed whether we qualify for a refund or not. However, since I have not filed any additional dependents nor changed my status, I am stuck to not getting any refund. But since I pay for my kid's education and pay amortization on my house and my second-hand car, I think I should at least get something by way of refund! I am now checking out how to work these things when I saw Turbo Tax Deluxe and I hope I can make my filings in time and with more tax refund to look forward to!

No comments:

Post a Comment