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Knee Deep in It – Tax Season

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I’d been so proud of myself for getting posts done ahead of time and here I am already falling off that wagon!  But I do have a good excuse…

So I haven’t filed 2013 or 2014 taxes yet.  Long story short, it all leads back to discussions early on last year with my dad regarding the house, so I am not going to get into that anymore.  But I was comfortable not filing as I had pre-paid my taxes correctly AND because the twins adoption was finalized and they were a special needs adoption, I had a large tax credit coming that can be carried over for up to 5 years.

With that in mind, I have ALWAYS filed my own taxes.  But with the possibility of needing to finance a home in the coming years and the new tax credit which I don’t have any experience with, I decided I might need to hire someone this year to do it for me and make sure I covered those bases properly.  (Since I am self-employed, banks look at my last two-three years tax returns for financing rather than current year pay.)  So I started calling around trying to find someone who was familiar with the Adoption Tax Credit (<=link to IRS site regarding credit if you are interested.)

Almost no one had any experience with the tax credit, and the cheapest I could find was $350 per year…for a total of $700 just to fill out some forms (which I have already compiled all the numbers for) and get the correct form done for the tax credit.  I spent a couple of weeks rolling that number around in my head.  And then started digging into the tax credit.

And yep, I’m back to doing my taxes myself.  I’ve already done all the compiling everything thanks to my organization kick I’ve been on this year.  I figured at $25 per hour, I could essentially give myself 28 hours of research time to figure out the new tax stuff and not have to pay anyone else the $700.  So that’s where I am this week…knee deep in tax code.  And the scary thing is, that I am actually enjoying it.

I did break down and buy TurboTax’s 2013 version to kind of guide me, but from what I can tell, even they don’t handle the tax credit properly.  So I’m doing this by hand…downloading the proper forms from the IRS.gov website and filling them in.  It’s been tedious, but I’ve learned ALOT.  Hopefully, I will wrap this up this week.  And then…I get to help the twins file their taxes.  What a cake walk next to this!


Finding Free Fun

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This past weekend we took a spur of the moment trip to a Sustainable Living Fair at a university about an hour from us. It was free and open to the public and had some cool things for kids to do per the website.  I had no idea what to expect but with my eye on the prize of land and home, I thought that they might have some really cool stuff. Got the kids up and headed out after seeing it on Facebook that same morning. (I love all the stuff I find on Facebook!)

Anyways, it wasn’t quite as big as I had hoped but we did see some cool stuff and I got more fodder for my plan making. But that led the kids to saying…”Mom, we should do more stuff like this on days we have free.” Now lets be honest, during the school year, “free time” is few and far between. We have Sea Cadet drill once a month, gymnastics meets once a month, FTC Robotics competitions once a month and who knows what else on that odd free weekend we might have.

But after having such a good time together AND getting their feedback, I have decided to plan for some of these fun, free, cool things this summer. Putting them on the calendar as I ferry them out so we have some fun things to do if we are free! I’ve found a local website that lists all the activities for our area…all within an hour of us.  I can’t wait to find festivals we can attend, sites we can see, artists off free viewings/shows.

Last summer we traveled ALOT and the kids went to ALOT of camps.  This summer we are doing none of that.  No, I take that back, the kids will go for one week each to a local camp which my dad helps pay for as their Christmas present.  So having these fun things in sight will help take the monotony out of it, not to mention our apartment complex has a pool which we will make good use of, yeah!

Our local website is HamptonRoads.com and they have an event calendar.  Have you checked out what you can do for fun and free this summer?