2008 Taxes: Done

Yesterday I filed my state and federal taxes online with TurboTax. For better or worse, my financial situation is pretty uncomplicated so it took all of 25 minutes to get everything completed. Last year I got over $600 back from the fed, this year it will be $150 and I owe my state $11Why?

  • Opted for 2 federal W-2 withholdings instead of just 1.
  • Had almost $400 in savings to pay taxes on.

Total cost for my 2008 tax season was $36.95. TurboTax was $25.95 and the $11 for the state tax I owed. Both amounts have been paid. Both the fed and the state have accepted my returns, so now I just wait for my refund. I am pleased with the amount because I really wanted to see how close to zero I could get without owing the fed money. I think I did pretty well! That $150 (which I estimate will arrive by Feb. 6 at the earliest and hopefully Feb. 13 at the latest) will go towards my computer fund.