Some years, I love tax time … other years, I hate it.
Last year, I really hated tax time; because I rented for much of 2007, my income was such that I owed a few hundred dollars when I filed my return; money which I couldn’t afford to pay, and which was deducted from my economic stimulus rebate.
While I haven’t received all of my tax documents yet, this year it’s looking like I’m going to get a sizable refund, primarily due to a year’s worth of mortgage interest I get to deduct. All of the charitable contributions I made in 2008 will help as well, but I don’t have all my records handy at home to get them all inputted into TurboTax.
This refund will promptly be used to stimulate my debt levels lower … which should help increase my monthly spending power by lowering some of my payments; which in turn should allow me to help stimulate the economy by being able to buy more stuff. Or perhaps I’ll continue to work on lowering my debt levels. No matter, it will be nice to have a little breathing room.