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Posts tagged with: W4

2012 Taxes

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I have heard from my CPA friend and I am smiling big with gratitude!  Thanks to his guidance upon my ex’s move out, I made major withholding adjustments for the last four months of 2012.   As a result, I will owe less than $500.  I cannot begin to tell you what a relief this is!  And there’s more great news:  I can re-adjust my current withholdings because I was on track to get a refund for 2013!   Answered prayers my friends…answered prayers!  I was having near $900 PER PAYCHECK withheld!  I know I make a good income but losing $1800 per month hurts!  AND, let me just throw my shoulder out here patting myself on the back…I was STILL able to make payments toward debt and not incur any new debt.

I am a new person!  Truly!  I never thought I could do this.  Just a year ago I was spiraling out of control.  Bouncing checks!  Yes, seriously.  Only making minimum payments and sometimes scrounging to do even that!  I didn’t have money left after pay day and could not figure out why!  My debit card was flaming hot with the constant use!  And then I started blogging.  I slowly, SLOWLY started keeping track of every dime I spent and started downsizing my life in every possible way I could think of.  Remember when I went to the hair salon every 6-8 weeks for a $200 cut/color/style?!  My last salon visit was in December and I don’t plan to go back until June.  The examples are many and for those of you who have been reading since the beginning, you’ll surely remember the changes.  Have I hit major bumps in the road?  Uh, yea.  Like a surprise divorce!  And other smaller hiccups too.

I want people who are in debt to see my story!  I want to motivate others and, in turn, be motivated!  It has not and will not be easy but each of us can make changes to turn our sinking financial ship around.  Don’t be afraid and don’t wait another day to start this process.  You will find freedom like you’ve never known.