I posted this on the forums but it belongs here, too. We have owed taxes in each of the past few years. That's fine with us as we don't believe in loaning money to the IRS all year. Due to some large capital gains and some extra side income in 2007, I fully expected to owe again. I was expecting to owe in the neighborhood of $2,000 and had set aside money for that purpose.
We went to the accountant on Thursday and got everything back today. Between state and federal, we are getting a refund of $3,036! I'm not sure how - my accountant isn't in today. I'll call him on Monday to see what happened and adjust so it doesn't happen again next year.
So I'm not glad that we overpaid our taxes by that much, but I can't complain about an unexpected $3,000 windfall.
Surprise Tax Refund
March 15th, 2008 at 08:27 pm
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And yes, I realized that it really frees up about $5,000 which is great. The Roths will get maxed out early this year. Plus, there is the $1,500 stimulus rebate coming, too.
March 16th, 2008 at 02:27 am 1205634423