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Money Lately

March 27, 2014

Taxes.  We owe ~$3000.  We both claimed 0 exemptions, but I guess we should be a little more sophisticated in our calculations and use one of those online calculators.  When we were single, claiming 0 always was good enough to get a refund!  And despite what is truly best financially, I would prefer to give the gov’t the money as we go and get a little refund.

T had some income from some occasional advising he did throughout the year that he hadn’t paid any taxes on.  It was all paid in the 4th quarter, and we didn’t have a penalty – but it contributed 2/3 of the tax bill.

We also have to front California about $2500 and while we wait for a similar amount as a refund from another state.  While T spent almost no time in the other state, it was technically his employer, so all his taxes were withheld there.  Multi-state income is kind of a pain, but we’re basically experts at that by now.

We did try some software (HR Block and TurboTax) to double check our manual calculations, but we ended up not using them to file.  Since we have to file in 2 different states and file a couple extra forms, it was well over $100 for the luxury of e-filing.  No thanks.

IMG_1046

(actual tax form from our living room floor)

IMG_1016I got some socks to try to alleviate the blister I keep getting on my right 2nd toe.  It turns out that there is a NAME for having a longer 2nd toe (Morton’s toe) and some people consider it to be a deformity!  I didn’t even know it was abnormal!

We started a cleaning service!  It is only once per a month, so we are still doing a lot on our own (in theory…), but I’m so grateful!

Photo on 3-27-14 at 9.48 PM #2

I made this!  Here is the tutorial I used, it is apparently Anthro inspired.  Also a pair of earrings!  I’m slowly trying to get into jewelry making as a hobby.  I tend to be somewhat of a dabbler / scanner, so I’m refraining from buying any fun tools, like a torch.  Not that i need a torch, but it seems fun.   (Also, clearance sweater from Gap for $8.  I thought it was $12, but it was even MORE on sale!)

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Just researching…  I’m old school and like books for this sort of thing.  Also featured in the background, a new couch.  Remember how our old one didn’t fit up the stairs? The new one is pretty awesome.

Just a few of the many things that have been eating our money lately!

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12 Comments leave one →
  1. March 27, 2014 11:10 pm

    I bought some jeans from the Gap today that I thought were $70 and turned out to be $40! Woo! I bought a beanie a few weeks ago that was listed at $30 and turned into $8. That was pretty awesome 🙂

    Have you played around with the IRS Withholding Calculator? It should tell you how much extra to have withheld beyond the 0 exemptions.

    • Austin permalink
      March 28, 2014 6:28 am

      I agree with Leigh. We got bit pretty bad in 2012 because we didn’t do any additional withholding. I don’t know your exact situation, but my wife and I filed jointly for 2012 (in Texas) and since we both worked we had to do the “Two earner” worksheet on the W4. Check it out!

      • March 28, 2014 6:23 pm

        Yep, I certainly figured that out now! That’s exactly what i meant by “guess we should be a little more sophisticated in our calculations and use one of those online calculators.”

    • March 28, 2014 6:25 pm

      haha, can’t you tell we didn’t play with the IRS withholding calculator!??

      It isn’t that I didn’t realize it existed, rather mistakenly assumed claiming zero was conservative. I’m going to wait until we are both paid again, then see what we should do for this year.

      • March 28, 2014 6:35 pm

        I can totally tell 😛 If I was married to my boyfriend, we would each have to have like an extra $800/month withheld to cover taxes. (possibly a slight exaggeration) I think I’d rather stay unmarried for now 😉

        • March 28, 2014 8:56 pm

          OMG. I’m not even going to do the math, because I really don’t think it is going to make me happy. Maybe I want a paper divorce? I think I did get a tax break for the first year or two, but only because T was still in grad school.

          • March 29, 2014 8:34 am

            I know a couple who live in California and had a wedding, but didn’t get legally married. My problem with that is that I’m not sure I really want a huge wedding, so why would I have a wedding without getting married? We’ll see what happens. For now, we’re just in the talking about him moving in stage 🙂

          • March 29, 2014 2:18 pm

            Moving in together!? So fun! Even if it is still in the discussion stage. 🙂

            I’m not sure why I felt legal marriage was necessity, but we never debated it. Midwestern roots? It does help with health insurance costs, i guess. not much else I can think of from a finance perspective.

          • March 29, 2014 11:07 pm

            It is so fun! We’ve talked about furniture, ways to share expenses, potential timelines, actual logistics of moving in, what moving in means, etc. I think we’ve at least touched on every topic of moving in so far! We talk about savings strategies, investing, know each other’s net worths and income and how our assets are split and financial histories and everything 🙂 When I told him how much money I have, he said that I’ve done a really great job of saving! 🙂 It’s pretty awesome 🙂 I think it will probably happen in the next 6 months 🙂 I can’t believe it – I’ve never actually liked someone I was dating enough to want to move in with them even if we talked about it. And we’ve only been dating for ~10 months even though we’ve been friends since college so ~6 years.

            Interesting – I’d never even considered legal marriage until a few years ago. I’m also pretty scared of a guy divorcing me and trying to get all of my money, so I’m going to make sure we have a cohabitation agreement even (like a pre-nup for non-marriage).

            The only things I can see legal marriage helping with are if you want to immigrate to another country together or just traveling together or if you have kids. Without kids, I don’t see much importance in legal marriage to me and at the moment, I have no plans to have kids.

  2. March 27, 2014 11:26 pm

    Cute necklace!

    Also, a cleaning service must really be a load off your mind.

  3. March 29, 2014 11:30 am

    Don’t take this the wrong way – but I stared at your feet for a long time. Not because of your toes but because of your socks! Your socks have toe inserts! WHAT THE–?!?! I have never seen such a sock before! It’s like GLOVES!!! MAGICAL FEET GLOVES!! =O

    • March 29, 2014 2:17 pm

      I totally agree – I think they look pretty creepy! Not my toes, the socks with toes! Have you seen the vibram 5 finger shoes? even more creepy.

      I’m hoping they help with the blister situation though!

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