Money Roundup: Taxes Done Edition

by Michael on Mar 31, 2014

Late last week, I gathered up all of our tax documents and took them to our tax guy. And yesterday afternoon, I got an e-mail saying that our returns are done. I’ll delve into this in more detail in the future, but here’s a quick summary…

It looks like we’re on the hook for about $5,600 in additional federal taxes and another $3,200 to the state. Yes, this resulted in a small underpayment penalty on both our federal and state returns.

On the state side, the underpayment was intentional. We’re bunching our deductions into alternate years, so I wanted to hold off on making those state payment until 2014. But on the federal side? I was just lazy.

I should also note that, while I’ve previously created an artificial overage such that we could buy an extra $5k in I-bonds with our tax refund, I’m not sure it’s worth the headache. I probably won’t bother this time around.

And now… Here are some articles that caught my eye this past week:

That’s it. I hope your week is off to a great start.

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