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Tax Day 2018

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Just a friendly reminder that it’s Tax Day!

Are your taxes complete or are you filing an extension?

We met with our CPA a couple of weeks ago (which is late for us). I got a call yesterday to answer a couple additional questions as they wrap everything up. The issue of taxes has come up a few times here because of two reasons: 1) We owe a ton still from 2016 (we’re in a payment plan, paying $285/month for the foreseeable future), and 2) my paycheck withholdings are likely a little high. This was an intentional move because I didn’t want to get surprised by another huge tax bill for 2017. It was an odd year since hubs shut down his business and went back to school full-time. I wanted to try to create a buffer by paying extra from each of my paychecks to help off-set whatever we might owe from hubs (which should be small, but I’m cautious). I also figured that if we ended up with any type of “refund”, it would just be taken to help offset our 2016 deficit so no biggie. BUT – we (hubs and I both) are giving our CPA copies of recent paychecks for 2018 so we can get a better estimate of our 2018 tax liability and more accurately adjust my withholdings. The CPA was working on 2017 before doing the 2018 projections, so it may still be a couple weeks until I know for sure….

At any rate, I wanted to pop in with that fun reminder and also remind everyone about all the Tax Day Deals and Discounts that are out there on the interwebs! Lots of businesses hook it up on tax day to help offer relief to those of us writing hefty checks to Uncle Sam. 😉

Here are a couple places to check out:

  • CBSnews.com – lots of food options
  • Time.com – even a gym gets in on the Tax Day discount bandwagon
  • Fortune.com – office supply stores are also up in the mix!

 

We’re still on a strict food budget diet so I won’t be taking advantage of any of big food deals/discounts this year. But it’s good to know about in case it can help someone else save a few bucks! Many of the deals are available all day, but some require downloading a coupon. Happy Tax Day! 😉

Are your taxes finished? Will you be receiving a refund, making a payment, or just about coming out even?

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3 Comments

  • Reply Reece |

    Ugh tax day! Ours are done and we had to pay in again despite adjusting withholding last year. I work full time and DH works part time but picked up 2 more “seasonal” way less than part time gigs because making ends meet with 3 kids is a challenge. But because of that we owe more. It’s like you just can’t get ahead! Really curious to see how the tax cuts will impact us next year at this time.

So, what do you think ?