Thursday, February 23, 2012

Death and Taxes

They say that there are two sure things in life: death and taxes.

Yes, I am getting a refund. Probably around $1000. I love how we've been brainwashed to think we're getting money from the government. HAH! I paid almost $20,000 in income tax alone let alone all the other myriad forms of tax I pay like: property taxes, sales tax, harmonized tax (sounds nice doesn't it?), goods and services tax etc. So really what it amounts to is I OVERPAID my taxes so they're giving some of my own money back to me....without interest of course.

I'm still not done however. My daughter rummaged around in the two feet deep pile of clothing  and debris she calls a floor in her bedroom and found her T4s. Then she went online to get her tuition receipt but it wasn't ready yet. So another delay. If she doesn't need all of her tuition to bring her income down below the minimum income amount I'll be able to use the rest but I don't hold out much hope for that. In fact we just may carry any leftover tuition forward to next year in case she gets a high-paying job for the summer. One that pays more than minimum wage plus tips. She does have a big interview coming up for a job promoting her university over the summer. That would be very cool and would support her post graduate program next year in Corporate Communications and Public Relations which she was accepted into - yippeeeeeeeeeee!!

I'm coming down with a cold - yuck! Both Kazi and Michael had terrible colds so it was inevitable. What is it about one's family members that they want to drape themselves all over you when they're infested with germs?????  I did my best fending them off but to no avail. I'm going to drag myself into work tomorrow (it's CASUAL FRIDAY!!) and then have a quiet restful weekend.  Yes, Michael is going out of town. It will be a NO Spend, NO getting off the couch, NO getting dressed kind of weekend. As my decluttering is all done (grateful now I got my challenges done early!) I will get caught up on a few books from my overflowing "to be read" pile and entertain myself with a selection of Netflix movies. Sounds kind of heavenly! Now, if someone would just bring me over a pot full of chicken soup!

Toodles for now!


27 comments:

  1. What a misleading blog title!
    I thought for once, just once, I wasn't the only one in our circle blogging about death. But then you only talked about taxes! Sheesh!
    I guess I'll write about death enough all of us then.

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  2. Hey, can I ask a question that is off-topic?  When you say you are biking to or through a certain place on your stationary bike, do you have some kind of video thing to simulate travel or something?  I know that's a crazy question, but I've been wondering for a while what you mean - I assume it's something more complicated than just measuring mileage.  I'm mystified, though, so could you explain it?  Thanks!

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  3. Hi there I can't beging to tell you how much I enjoy your posts, hoping you can give me enough motivation to start my journey once again..

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  4. Ooooh nearly forgot chicken soup on it's way xxx

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  5. You poor thing, I hate being sick. And I hate when others share their illnesses. Grrrrr.
    We are doing our taxes too. Just puts me in a pissy mood that they can steal as much as they do. The US government gave us a 2% tax break on social security and then the robbing state took it plus more. You can't win.  

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  6. I know - I tried putting garlic around my neck to keep the wretches off of me but it just made my attraction even stronger!

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  7. Thanks Maureen - hope you wrapped it up well!!

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  8. Thanks Maureen - I am going to do my best to inspire you!! I don't know what I'd do without my blogging friends - they are such a huge part of my life!

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  9. What I've done this year is requested which bloggers wanted me to "visit" and I had nearly 20 people respond. Then I plotted a route on a map of Canada & the US. I let each person know as I near their city and then they email me with the highlights of their area, things I should see/visit etc. Then I find pictures of those places and  create a post with that bloggers commentary. A virtual visit if you will. I calculate the distance between each destination and count down the miles as I bike. I keep a large wall map beside the bike so I can keep track of where I am.  Its very motivating for me as I let the person know as I near their location and thus get their encouragement and information about where they live. I'm learning about a lot of places I've never heard of before - very cool. I am thinking, in the back of my mind, that when I retire I may make an actual road trip (not on my bike!) and actually visit everyone on my route.

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  10. Hee hee, sorry Eboo! I just thought it was a catchy title and fit the image I used! I have absolutely nothing to say about death right now, touch wood!

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  11. Yes, the taxman is funny that way...he taketh a lot, then gives back a bit...and we are supposed to be happy? Ha!

    Hope you feel better soon!  Having a cold is no fun.  But since you clearly got it from your framily, they won't mind taking care of you, right?

    If I were close I would bring you some chicken soup too!

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  12. You know, that's EXACTLY why I don't feel (too) bad about owing taxes. Now that I have an ING account, I might just keep my deductions at the same rate, and just put money away to pick up interest FOR ME, into a separate account. I know it's not a lot, but I'd rather do it out of principle... what the heck is up with the gov't taking an interest-free loan out of us, but then charging US interest for any loans thereafter?

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  13. Taxes are fun aren't they :O)
    We are just waiting on one more slip for Dave. His refund covers my oweing so I'm a happy person.

    Colds seem to going round. Darian is home sick today, poor little mite.
    Hope your feeling better soon
    Hugs

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  14. I commiserate about all the taxes paid....people note the big ones but rarely add up all the little ones(sales tax, tax of gasoline, etc.)that the local/state/federal govt. sucks outta ya that adds to the taxing miseries. 
    What drives me bonkers down here in the states is how some people who don't actually pay into the tax system get MONEY BACK!  WTF!?!?lol

     If you haven't pedaled down to Judy's yet, you need to stop over here on your way to Philly!.....well, that is if you don't mind biking UP a mountain. There is also the thrill of coasting down that big hill. 8-)
    But get better before you get here or I'll have to take you into Rite-Aid for a flu shot.  Don't worry, I know people there and can get us a deal..... and I have coupons! lol

    Feel better!

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  15. Hope you are feeling better soon. You don't want to be sick on the weekend that is what sick days are for during the week.
    Along with storm days. Maybe the tax situation has gotten you down also. I know it has me. Hubby is going to cash in his overtime to dump in a spousal RRSP so he can save some taxes and get a refund. Gee they already took half of his hard earned overtime in taxes before he even received it. SAD really.
    Hope you have a relaxing weekend, wrapped up watching movies and reading some books.

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  16. MiCommonCents (Sarah)February 24, 2012 at 8:24 PM

    I know exactly how you feel! I feel the same way. They say that wealthy ppl don't look forward to getting money back but make sure that they don't owe any. And that's one of the key factors between wealthly ppl thinking and non wealthy ppl thinking. I just did my taxes, still have to file them that's in this todo list before this week is out.

    PS: I switched to a new blog www.micommoncents.com check it out!

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  17. Ha! Beat you to it - just checked out your new blog! I was missing you and wondered where you went so I'm glad to have found you again. Maureen posted today!! Do you still have her on your blogroll? If not, she's on mine!

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  18. Thanks witch! I have no problem taking a couple of sick days next week if I need to! My cold is just in its beginning stages so no doubt will be worse by Monday. Michael is away this weekend so having some restful quiet time to myself is just what the doctor ordered!

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  19. I'm 180km from Philadelphia - where do you live Sluggy? I'd be honoured to stop by and chew the fat for awhile:)

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  20. Thanks Johanna! I wish we didn't have to wait so long to receive all the various paperwork for taxes!! Kazi paid her tuition back in Sept yet the university doesn't have the form ready for download yet for her taxes. Sigh...I guess good things are worth waiting for right?

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  21. That's a good idea Tanner!  And if we OWE any $$ to the gov't they charge us at an exorbitant interest rate - NOT FAIR!!

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  22. Jane, wouldn't it be more beneficial to both yourself and your daughter if you use her tax credits? Since you are in a higher tax bracket, the amount of taxes that you would get back on say $5000 worth of credits is much more than she would get back. Even if you then pay her what she would have gotten if she used the credits herself there is more value gained overall from the credits.

    I just realized this for myself this year. I graduated from Western two years ago.  I am still using my tuition refunds as I did not work much while in school, but after this year, I will save my credits for a couple of years till I am paying higher  taxes.

    Does this kind of make sense?

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  23. Your planned weekend does sound heavenly!  and you're reminding me I need to dig through my own 2 foot pile of debris to find my tax papers.

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  24. I'm not going to think about taxes this weekend. Resting and taxes just don't go together!!

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  25. Thanks for the comment Magda! I used to claim all of her tuition credit (I was also paying for half of her tuition) but last year she needed the whole credit to reduce her income (she made over $26,000 in 2010 plus going to school full-time AND she paid all of her tuition) and I felt she was entitled to the credit, not me. Last year she made less money (about $10,000 less) so if she doesn't need all of the credit I'll use the rest. I no longer help her pay for her tuition so I feel the credit belongs to her.

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  26.  I'm north of Philly, about 117.5 miles.  a tiny town called Mountain Top south of Wilkes-Barre PA

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  27.  I completely understand your sentiments, however I wasn't suggesting that you "take" Kazi's tax credit, simply "borrow" it so to speak, by claiming it on your tax return. You get a bigger return on the same $5000 credit, you can then give her her fair share of the return, and you will still be left with some extra money. This way you would both get more than if she claimed the tuition credit on her own return. I suspect you use some tax software to file your taxes? Just play around with the numbers if you are comfortable doing that. Put it in as if she were claiming the tuition credit, see how much she would get back, then put it in as if you were to claim the credit and see how much you would get back. If you are comfortable playing around with the numbers, and if it makes sense for you, it might work out to both your advantage. I would only recommend it if it works out to be a plus for both yourself and your daughter, since as you say the credit sort of belongs to her since she paid her own tuition.

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