Sunday, February 26, 2006, posted by Q6 at 7:30 PM
Like math problems? I'm doing my taxes. Here's a good one for you: if I keep my withholding at "married" with 4 dependents but I file as Head of Household with just myself and my son, I owe federal and get a refund on state (which almost breaks even); if I adjust my withholding to reflect reality and file the same way, I'll get refunds on both federal AND state, but my take-home pay will be insufficient to get me to April 15. Withhold less and break even, that's my motto.
My son, after inquiring why I was trying to throw the computer out the window after three hours of tax calculations, asked me to explain taxes to him. It took me a little less than an hour to explain it--forty minutes of which I used to call my mom and have her explain it to me. I've got an uncle out there, somewhere, who's a CPA; you'd think the recessive genes would kick in when my son needs answers.
In the end, I will get through another tax season with my fiscal butt intact. (I can write off my blog time, right?)