Saturday, February 05, 2005

It's Tax Time Baby!

Normally, I am not quite so giddy about tax time. I am the family's pseudo accountant. I do the prep work and then give everything to our accountant. We own 2 rental properties and it's no longer as simple as a 1040. There are multiple tax forms, but, I am the queen or deductions. Our rental properties have some awesome deductions like home lones and property taxes. Of course we have the child deduction, but this year, we have 2 other surprises up our sleeve. I donated my car to charity this year. My beloved 1994 Saturn, paid off years ago, dependable as hell, never broke down. I donated it to a program called Wheels for Work, in my city. They give it a good tune up, new tires, and give it to a family that could benefit from having, well, wheels! Somewhere, right now, my car is having a nice afterlife. That's priceless, but I also get the Kelly Blue Book value, $1350.00! Ca-Ching!
The second tax time surprise this year was the medical deductible. My husband had a long year of trying to get diagnosed. There were family docs, specialists, neurologists, perscritions, co-pays, deductibles, etc....We racked up $6500.00 in medical bills. For the first year ever we have qualified for that deduction.
So, after totaling the receipts, patting myself on the back for being a money honey and keeping ahead of tax laws ( ok, and having a good accountant), I have smiles alllllllll weekend! I do believe both the Feds and the state owe me a sizeable amount of cash. I'll take that in large, please!

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