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Big tax boon

February 22nd, 2013 at 01:17 am

Last night I stayed up late doing a rough sketch of our taxes on paper. I was rather stunned that there's a $4000 advantage to AS claiming SL on her tax return! Well, I guess that makes our decision for us. Feels a bit weird, but perfectly legal, so we'll do it! That money will go straight to the student loan when we get it.

AS will get refunds on both federal and state, and NT and I will owe on both, but we'll net about $4K all told. If we'd gone the other way, we would break even collectively.

We'll all change our withholdings so we come closer to breaking even next year.

4 Responses to “Big tax boon”

  1. FrugalTexan75 Says:
    1361496023

    Great news!

  2. creditcardfree Says:
    1361500130

    Very nice!!

  3. LuckyRobin Says:
    1361502765

    Glad you figured out a way that got you the most money back.

  4. Looking Forward Says:
    1361503156

    I figured it might be a *little* better that way, but that is *much* better. Big Grin

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