January 2006


I am The Cyberwolfe and these are my ramblings. All original content is protected under a Creative Commons license - always ask first.
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More Good and Bad: Taxes

I took a rough estimate of my tax picture today and came up with good mews and bad news.

Compared to 2004, I think I may have finally found the sweet spot for making sure I don’t owe any taxes: pay the State an extra $25 a paycheck. The sad part is, that just breaks me even – I won’t be getting a State refund. (Gee, like I’m surprised.) The Wolfie Savings Plan seems to be working as well, because the extra $15 a paycheck I gave the Fed should turn into a rather nice chunk of change on my 1040 return.

Here’s the bad news: how I figured this all out. I kept a copy of my 2004 returns, and compared my wage listings with my final paystub for 2005. They are almost identical.

Most of you are thinking “hey, that’s not so bad. Sure, you didn’t get any raises or anything, but it all works out.” True, except for one salient fact: I was unemployed for 8 months in 2004. Three months at my previous job plus about a month of contract work plus 8 months of unemployment equals what I made working 12 months straight.

Yup, that’s right. My job sucks.

On the brighter side, that Federal return is going to be put to good use. The Beastie will get some TLC, and the Rayboy will get some time in a dentist’s chair. Anything left over after that goes to the computer slush fund. I smell a 64-bit upgrade :)

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