2010 Taxes, Money As Time Off, And The Homebuyers Tax Credit

15 04 2011

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



2 responses

15 04 2011

I’m doing my taxes on TurboTax for the first time, too. Thank goodness I’ve got until the 18th because as simple as it is, it’s making me crazy and i don’t trust myself NOT to screw up!

Now I’m seriously going to look at a 5th wheels.

15 04 2011

Turbo tax is just about Matt’s favorite thing ever. But then again, he is an accountant. Although unfortunately we owed a bunch of taxes this year 😦

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