Our 2009 taxes were mildly complicated and we paid a CPA a good deal of money to make sure that we filed correctly and got everything that we were entitled to. This year we decided to use TurboTax Home & Business and were very happy with both the program and with doing our taxes on our own.
We started in on our taxes in Joshua Tree National Park and finished them up yesterday evening in the parking lot of a Native American casino. It’s looking like we’ll get a hefty refund this year. (My 2010 bonus was taxed up the wazoo, and we had minimal income after that.)
Getting money back is nice, but as soon as I saw the amount I thought about it in terms of the months of freedom that it could buy us. We don’t plan on using up all of our savings in our travels, but I like conceptualizing our refund in terms of “freedom time” instead of as a simple dollar figure. On further thought, that’s how I’ve been thinking about money since this crazy idea of quitting our jobs entered our mind. I think that it’s a good approach to thinking about cash.
[Also, one major tax gripe. RVs aren’t eligible for the first time homebuyers tax credit but mobile homes are, and fifth-wheels might be. Who wrote this tax code?]
posted by yair