Graduated Learning: Life after College

I got my degree, I got a job…now what?

Filed my taxes March 28, 2009

Filed under: Personal Finance — Stephanie @ 9:53 am
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I finally filed my taxes.  Well, I e-filed my Massachusetts return, and will have to mail out my Federal returns soon (I have a form that has to get sent in with my Federal return).

I used TurboTax, which was pretty easy to use.  There are also lots of discounts available online for TurboTax (though I think some of them expired yesterday, which is partially why I finally filed yesterday!)

But here’s the newest discounts as I’ve seen this morning:

Going through Bank of America, you can get a 35% discount on Federal.

Going through Fidelity, you can get a 25% discount on Federal and State.

Going through Chase, you can get a 30% discount on Federal.

It looks like the discount for filing before March 27th has been removed (because, well, today’s the 28th!), though that discount was the same as the Fidelity discount, so that’s not too big of a deal.  And I’m pretty sure you can get all those discounts even if you don’t have an account with them.

I’m sure there are other discount codes out there, I’m just not aware of them.  Also, it looks like, only using Fidelity, you can get “Basic” which is a nice compromise between the “Free” and “Deluxe” versions.  So that’s slightly cheaper than the Deluxe.  I actually was using Basic for a bit, but wondered what it would be like to use the Deluxe version, so I clicked the button that said to upgrade.  BIG MISTAKE.  Once you upgrade, you can’t downgrade using the account you have.  So I lost ~$11 in the process.  Not a big deal, but I’m guessing if you did that and upgraded to the big fancy versions, you might be kicking yourself.

Also, if you have an AGI less than $56k, the IRS can help you file for free.  Hmmm, it looks like, including deductions, I might have been able to use that…but oh well…too late now!

Anyway, as for my taxes, I’ll be getting a total of ~$660 (combining Federal and State).  I don’t think that’s too bad.  With so many changes in 2008 (lose one job, collect unemployment, get a new job), it would have been hard to get a good prediction on my taxes.  Had I adjusted my withholding or something like that, I might have owed a bit too much (I don’t want to pay a penalty!)  So, I think that once my financial situation stabilizes, I might be more willing to change things so I don’t “give Uncle Sam an interest free loan” as many say.

Oh, and don’t forget.  There’s still time to open and fund an IRA for 2008.  You have until tax day to do it!  And since you’re limited to $5000 (or $6000 if you’re 50 years old or older) per year, you could miss out on hitting that limit for 2008.  Check out this post from Get Rich Slowly, I think it’s pretty helpful.  Yes, it’s for Roth IRAs in particular, but the advice applies to traditional IRAs.  He also has a good comparison of the two types here and here.

Have you filed your taxes yet?  Do it! Do it now! 🙂


The good thing about e-filing is… April 16, 2008

Filed under: Personal Finance — Stephanie @ 6:44 pm
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You get your refund a lot faster!

I used TurboTax to prepare and file my taxes. Well, actually, I e-filed my state taxes, but had to mail my federal taxes (I had to include a document from work). But the awesome part is that because I e-filed, and opted for direct deposit, I already got my state refund!

Other awesome things related to taxes (if you can say there are awesome things about taxes…) is that there are some good tax breaks/deductions (I can’t remember which…) that I was able to take advantage of. They allow deductions for rent you pay, cost of commuting (subway passes and/or EZ-Pass), and for interest on your student loans. Those were the big three that kicked in for me, and granted there are limits for your deductions, but it made me happy to see at least some effect.

That’s all I got for today. Hopefully you’ve all filed your taxes by now…and if you haven’t, you’ve filed an extension.


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