E-Filing

From a state that's a leader in e-filing, a reminder that it's quicker and easier to file online. I hope to ward off my personal insolvency with a refund. It goes quickly and easily. All information related to tax returns should be to you soon. I'm waiting for a couple of remaining statements and have targeted President's Day as a deadline on which to file my return. For those of you who haven't e-filed, I think I paid $8 for the state return. It was easy and fast. Last year I used my refund to pay on my smallest student loan. This year it goes toward a medical bill.

I'm putting a fair amount of money into deferred compensation one way or another; I have an automatic deduction for a retirement account, which I have augmented with what seems to be a hefty contribution to my deferred compensation account. It's like a 401K but the government ones have a different number.

The net result is that while my income for the coming year, at least most of it, will be more stable, it will also be less reflecting the pre-tax contributions both to retirement accounts and to other benefit accounts. I'm excited about that because not only am I saving for retirement but I'm reducing my immediate tax obligation.

Tax Refunds

Most of us live in states in which overpayments of taxes will be refunded upon filing our tax returns. Not if we live in California; the insolvent state is keeping overpayments!

I have an acquaintance who is a teacher in California and is no longer getting paid but instead receiving IOU's.