I am still waiting for one form from my former mortgage company so I can finish my tax returns. And things are looking good! Or bad, depending on how you view taxes.
I’m not sure how the state tax return is going to fall out, but it looks like I’m getting a significant chunk of change from the feds. I’m definitely pleased about this as it makes a great start to my Roth IRA contributions for the year. On the other hand, that’s money that could have been in my pocket throughout the year. Typically, I like to try to break even, but over the past couple of years, I haven’t been able to make that work.
So I have two options – I can change my withholdings again (I did it once when I bought my house) or I can just live with it and enjoy the extra cash every spring. I would definitely rather get money back than have to pay in, that’s for sure. And with interest rates as they are, I’m not really coming out that much ahead by getting the money and putting it into savings. So maybe it’s best to keep things as they are.