Saturday, January 24, 2009

Tax things that save us $$$--including possible rebate $

A few things to save lots of hard-earned money on taxes this year:
Deduct moving expenses (For us, that's a rental truck, gas at $5/gallon for the truck and $4/gallon for the car for very long distances, and a hotel room).
Tuition--there are a couple of ways to do this on the tax forms. Basically, just plug in the numbers and see which saves you the most money. Let's just say that we spent way too much money on tuition this year...I just have to keep telling myself that it's a terrific investment.
Rebate--remember the rebates that people got last year? $600/person? Well, we hadn't made enough the previous year to get the full amount back, since April was still in school. But, exciting news! If you made more money in 2008 than in 2007, and you didn't get the full rebate last year, you may be able to get the rest of it this year instead! I almost missed that one...that would've cost us $217. So if you didn't get the full amount (and I'm guessing many of you didn't) figure out if you made more this year than last. Unlike last year, this one goes right onto the 1040, and either reduces your taxes or comes with the rest of your refund.
I'm still waiting on a tax form from my credit union, but as soon as I get that, I'll complete taxes. If they owe me money, I'll file taxes immediately. If I owe them money, they can expect a check around April 1.


JorgenMan said...

Also, don't live in California:

Tim said...

Ouch. I wonder if any other states will have that problem.
Better do your taxes fast if you're hoping for a refund.