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ananda

(28,837 posts) Fri Feb 28, 2014, 05:01 PM Feb 2014

Color me a very happy idiot...

I filed my taxes this week and was surprised to see a huge
refund at the end, opposed to a payment last year for
close to the same income. I didn't understand why this
was happening till today...

... when I learned that at age 65, you get a higher standard
deduction and exemption.

Wow!

4 replies

= new reply since forum marked as read

Highlight:

Color me a very happy idiot... (Original Post) ananda Feb 2014 OP

Congrats! mnhtnbb Feb 2014 #1

Congrats, my dear ananda! CaliforniaPeggy Feb 2014 #2

woohoo irisblue Mar 2014 #3

and medical expense deductions begin at only 7.5% of income, instead of 10% DebJ Mar 2014 #4

mnhtnbb

(31,374 posts)

1. Congrats!

Reply to ananda (Original post)

Fri Feb 28, 2014, 05:10 PM

Feb 2014

I spent all morning working on our taxes, and happily, I don't think we're going to owe much--if any--
this year. Last year we had to make a HUGE payment because I wasn't paying attention to hubby's
numbers the way I should. He semi-retired last May, so I updated our quarterly payments. I like to shoot
for not owing much or not getting much back.