Saturday, February 11, 2012

Taxes & Deductions

Ever since we got married 7+ years ago, the hubby & I have been going to the same H&R Block office & using the same accountant to have our taxes done. This year was no different.

We had our appointment this morning & within 45 min our accountant had all our info entered into the computer & was letting us know what the final verdict was - do we owe or don't we? Some people like to have that additional money from Uncle Sam in their paychecks every pay period but not me & Shane! We both like that big refund check at the end of the year so we make sure to adjust our tax withholding to our benefit & it has worked out to our advantage every year by doing so.

This year though we were very surprised to see that we are getting over $4000 MORE back than we did last year - YAY! We were both shocked & curious as to why we would get more back since nothing had really changed from last year?!

Our accountant said it was partly because Shane had bought a new truck & we were able to use the sales & property tax he paid as a deduction (which Shane quickly said "See honey, it was a great idea to buy a new truck after all" - whatever) but the MAIN reason was because we had twice as much in medical expenses from our IVF & 2 FET cycles to deduct this year than we did last year.

I guess it is nice to know that at the end of the year there can be something good come out of spending a ridiculous amount of money in IF expenses & have nothing to show for it!?

Unfortunately, the additional "bonus" refund will be put towards paying off our medical debt & not for anything fun :( That is the "Dave Ramsey" way & that is how we roll!

Oh well, at least it will finally be paid off....just in time to start the vicious cycle all over again if we decide to do IVF using DE this year.


Lauren said...

Wow, that is awesome to have that to pay everything off! New year for you...I hope this is YOUR year.

Scubagirl said...

You were tagged in my blog!!