February 13, 2014

The Tax Plan

I finally have everything to finish our taxes and I think I'm done.  My goal is to file taxes by Sunday.  I want to go over everything 1 more time just to make sure I have everything right.   And if I do my state taxes myself, I can save another $37 out of this total.  I'll see how motivated I am this weekend.

Federal Tax Refund                       $5186
State Tax Refund                            $ 184
Total                                              $5370
  • City Taxes                            $1300 (estimate)
  • Car Insurance                       $ 950
  • Condo Insurance                  $ 250
  • CBR Fees                             $ 250
  • Life Insurance                      $ 850
  • Zoo Membership                  $  71
  • Energy Saving Devices        $ 200
  • My School                            $ 300
  • Shrek Tickets                       $ 100
  • Beauty and Beast Tickets     $   68
  • Norton Anti-Virus                $  50
  • Date Night                            $  40
  • Tax Cost - HR Block           $  87
  • Vacation Savings                 $ 284
  • Car                                       $ 285
  • EF                                        $ 285                       

Most of this money will be moved to our savings account until the bills come due.  For example, the car insurance bill isn't due until August.  But now I'll have the money already set aside for it.   The Blue items are the Fun things we'll be doing with some of this money.  The rest is going towards bills and savings.

The city taxes shouldn't quite be $1300.  I tried to over estimate it just in case I messed up when I was figuring it out. 


  1. Replies
    1. Yep. We should probably adjust our with holdings but I only think about it around this time and then forget until next year. Mr. R and I haven't adjusted them since we've had kids so we are definitely paying too much out of each pay check towards taxes.

  2. Those are all great uses for your refund! Especially the fun parts. It doesn't all have to be serious business when paying debt and saving. I think that if you guys have a simple return, you should try them by yourself, but if you have complications (extra forms, stocks, etc), then that $87 HR Block fee isn't too bad.