March 20th, 2015


Tax Time!

It's time for my annual post about filling out my income tax forms. This year's curve ball is the change of status from "single" to "married filing jointly." I must say that I was pleasantly surprised. There is a large disparity between my and Kitty's income. If you average them together, however, it seems to work to our advantage in terms of paying tax. I was particularly shocked when I decided to see what I would have paid if I were still single. I thought I had written the number from the tax table incorrectly because the amount of tax I would have paid by myself was almost the same as 2 of us filing together with 2 incomes. If Kitty had filed by herself she would have received a larger refund, but I would have ended up paying a lot more tax. I have started calling her, "my little tax break." Fear not. The refund benefits her as well since it will be going to help pay for Hawaii next month.