Tax Time!
It’s tax season and tax return time. Now, I know that some people hate getting tax refunds because they see it as an interest-free loan to the government. Well, I am not one of those people. I much prefer getting a check once a year than getting a bill. Not to mention that this time of year is when I am typically low on closings so it times out well.
We did decide to hire someone to do our taxes this year given all the changes. I did try to do it myself, but after Turbo Tax required the second upgrade, I gave up. Plus at that point, it was about the same price to hire an accountant. So we did and it ended up being less than expected too which was great.
Last year I had a record-breaking year which was awesome. I did the math for taxes previously and in a worse-case situation, I knew we had finished paying taxes in October. But then we also bought the rental and I started invoicing so that threw a bit of a wrench in the plan. Basically, we knew that we were getting a refund, but didn’t know how much.
Well, they finished our taxes and we are getting a return of over $20,000. Which is insane. Won’t happen again I am sure since last year was insane and highly unlikely to happen again given the change in circumstances, but who knows?
This works out awesome since I am not getting paid on anything until April. Our last paycheck was in January 2023 so this will definitely make up for the two-month stretch without pay. The joys of an irregular income. So yay! And also wow. Crazy as hell.
Have you already done your taxes?
Feature Photo by OhTilly on Unsplash
Whopper tax return! 🙂 I am never one to turn down money coming back. It sure feels different than having to pay it, too.
That’s a long ass stretch between paychecks from Jan to April! Is that just a seasonal thing with closings or does something else affect this?
There tends to be more closings at the end of quarters, but this was because we were moved to a new community and had to build it up from scratch. So there was a wait for everything to be built and a bunch of marketing to do. Should be good going forward.