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A Good Day

Not too much to say here. Truth to tell, I mainly wanted to gloat. I finally got my taxes in, and I am scoring the big one. I spent some quality time on the phone with the IRS on Thursday, and me and the lady in the Tuition And Fees department discussed various options that I had if I ventured from my old pal the 1040 EZ to the scarier realms of the 1040 or the 1040A. It turns out that, as per the little questionnaire she administered, I was eligible for the Hope credit. And the Hope credit wiped out my tax liability. I worked for eight months this year and paid $1250 worth oftaxes on that income. And now, thanks to being a grad student, I get it all back!

Well, minus the $250 I owe Grad School State for not recognizing the taxes I paid to Former State. But even factoring that in, I'll be netting a cool one kilobuck back from the feds when they get around to processing the paperwork. And the odd grand from the feds will come in so handy this summer. BOO yeah!

In other news, life goes on. My monster bibliography inches closer to completion. The gamelan concert gets ever closer. I've made Passover arrangements. And my pet freshman and I decided to splurge and go out to a moderately nice Afghan restaurant for lunch today. All in all, life is good right now.


( 9 comments — Leave a comment )
Apr. 17th, 2005 04:28 am (UTC)
Congrats! I have often wondered if I would get more back my tackling the more complicated 1040, but I have not yet been brave enough. I hope the effort allows for a nice summer for you. :-)
Apr. 17th, 2005 12:16 pm (UTC)
Having looked at all three forms, I'd say it depends. If you have anything fancy to do beyond reporting salary/wages and bank account interest, you'd probably get more back. That is, if you felt you had enough assets that you needed to itemize, or if there were some nifty little deduction or credit that you could take. I guess the only way to find out is to pick up all three forms at the library next year and compare them, and see if there's anything in the credits and deductions sections that you could work with.
Apr. 17th, 2005 10:54 am (UTC)
That must be such a relief! Are you taking classes this summer, Pony?
Apr. 17th, 2005 12:22 pm (UTC)
Aw yeah! Bring on the kilobuck!

I probably won't be taking formal classes this summer. I can't afford them, even with the kilobuck. My degree is thirty credits, and I'll have twenty of them done at the end of this year. Then, next semester will take care of the rest of my required coursework, and I can focus on necessary learning classes like continuing Hebrew, the East Asian music survey and organology.

I'll probably end up working (if I can just stretch my German translation gig out through the summer, that'd be ideal) and starting my master's thesis research. There's a "green sheet" (it's actually blue) that I need to file by start of classes next semester with a refined thesis proposal and bibliography. I've got a topic, so there's really nothing stopping me from doing that.
Apr. 17th, 2005 12:15 pm (UTC)
NICE! I used to love my returns when I was still a student! Back then, there were lines for EXEMPT.

It rocked seriously.

Hmmm..yet one more reason to go back to school, if I can!

Apr. 17th, 2005 12:26 pm (UTC)
The nice thing about waiting to take the Hope credit till grad school is that I'm the one who gets the money. In undergrad, I could still tick off the box marked "dependant" and fill out the little worksheet, and that took care of my taxes. If I'd taken the Hope credit then, any money from that would have gone to my parents. But now I take the Hope credit for myself, and all that money goes to me.
Apr. 19th, 2005 02:05 pm (UTC)
Ahhh! If I recall, I wasn't exactly filing as dependant anymore.

Thus, do I yet drowneth in the student loans. lol.

Apr. 19th, 2005 01:25 am (UTC)
Good show, Pony! We have to pay--sniff, though not too much--and it's all my fault for being an independent contractor instead of an employee. Ah, well, live and learn for next year.
Apr. 19th, 2005 02:41 am (UTC)
I've had to pay for the last five years. 'Bout time I got something back.
( 9 comments — Leave a comment )


by Illsaysheis

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