Tax Return to Refund in 7 Days

[Timeshare Von]

Every bit counts. You are giving up $70 to 100 in interest. Watch your pennies and the dollars will watch themselves.

I get it . . . and have managed small non/not-for-profits that way for decades. But my time and worry is worth more than the $50-$60 interest lost on my tax refund this year.

 

[heitmullerj02]

6k deduction helped me, first refund in 3 years. $$ hit my account in 7 days, thank you Turbo Tax!

 

[pedro47]

A bit of a misnomer there... It's not a <credit.>
"Starting in 2025 (filing in 2026), seniors aged 65 and older can claim a new $6,000 individual ($12,000 married filing jointly) tax deduction. This additional deduction is valid through 2028."

It saved me a right smart gob. I reduced my withholding accordingly.
But now, I'm adjusting it back up for various other reasons.

Praying you correct about the seniors aged 65 and older tax deduction is valid through 2028.

Thanks for your correction is not a credit. It is a senior tax deduction.

 

[Patri]

Dropped off my taxes today. I asked about this. For adjusted gross incomes under $75K. Married folks it is double!

 

[Brett]

Dropped off my taxes today. I asked about this. For adjusted gross incomes under $75K. Married folks it is double!

And then it starts to fade away

 

[ScoopKona]

Every bit counts. You are giving up $70 to 100 in interest. Watch your pennies and the dollars will watch themselves.

^ Yuppers.


As long as I don't have to pay any penalties/fines, I'm happy to cut that check to the IRS. I like to go right up to the penalty line, without crossing it. I see how the federal government spends our money. I'd rather keep it in my hands to the extent possible.

 

[WinniWoman]

Well, you won’t believe this, but at midnight last night my husband had a medical emergency and I called 911 and he had to go to the emergency room. I won’t get into that on this thread, but I stayed home. Of course, I couldn’t sleep so I made my self a cup of tea and decided to do something constructive- like do our taxes! Lol!

The tool/form I usually always needed - but turned out I did not need any longer- was available on line when I checked and from there I went on Tax Act to finish up and then review everything and e- file.

Turns out we are getting a hefty refund this time - about 4-5 X as much as usual- most likely due to the higher standard deduction and that $12,000 senior deduction. We also had a mutual fund sale loss. Hopefully I didn’t make any mistakes.

The return was accepted right away at like 4am, so now have to wait.

(A policeman brought my husband home at 3 am.)

I went to bed at 5am, but couldn’t sleep and the sun came up at 6 am or so and I got out of bed. Here I am still awake typing this at 6pm! I don’t know how I’m functioning! But I’m glad I got the tax thing off my list. It’s been a tough fall and winter between my husband’s medical issues and the brutal winter we’ve been having.

Now in a few more days I have to FINALLY file for SS as I’ll be 70 in June!

 

[Talent312]

Congrats, WinniWoman, for biting the bullet.
I often work on my finances late at night.
There's too many distractions in the daytime.
.

 

[pedro47]

That $12,000 senior deduction is very helpful this tax filing year.