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Taxes done right? I dunno...

March 1st, 2015 at 05:49 pm

Hello! I hope everyone has had a great week/weekend. Early cherry blossoms are coming into full bloom and I had hoped to go view them yesterday, but it rained all....day...long! Ume (plum) blossoms are also coming into season. I'm hoping the weather is nice next weekend so we can go view them. Japan is quite hilly and the ume grove is up a ginormous hill making for a fun, exhausting hike! One of my friends referred to it as equivalent to walking up 50 flights of stairs. That's a pretty accurate description! LOL!


Ume blossoms from last year

My big money achievement for the week - my taxes are done! We are still required to file US taxes (my husband gets paid in US dollars here so we don't have nearly the tax complications that many ex-pats do). I have been using the same tax guy for several years and he kindly continues to do our taxes even though we have moved. But I digress...

This year is the smallest refund we've ever gotten. I was worried because I earned a commission check last year and failed to make any tax payments on it during the year and wasn't sure what to expect. But we came out okay and with a small refund. Even smaller once you subtract what I have to pay my tax guy. All I can think is my mother used to tell me that you don't want a huge refund at tax time because it means you have been giving Uncle Sam an interest free loan all year. I suppose she was right, but still - I can't help but feel a tiny twinge of disappointment that it isn't a big refund. I'll just have to plan carefully this year for all expenses and not rely on a big tax "windfall" next year.

How are you doing with your taxes? Not exactly the most exciting financial item for the week, but you gotta do what you gotta do. Smile

3 Responses to “Taxes done right? I dunno...”

  1. frugalredhead Says:

    We owed $600 this year - first time in my life I've ever owed! When I started my part time job, I didn't have enough taken out for federal taxes. I thought I was going to owe more, so I'm okay with $600. I have changed my withholdings going forward, so I should be good for next year!

    Where in Japan do you live? My husband was stationed in Okinawa for a year and he loved it there. I traveled to Kyoto for work quite a few years ago and thought Japan was such a beautiful country. Maybe hubby and I can go back together sometime!

  2. tinibee Says:

    frugalredhead - we live about an hour south of Tokyo. I went to Kyoto for the first time in December and what a wonderful place!!! I like the Kanto plain with Tokyo and such but there is something magical about Kyoto. I cannot recommend it highly enough for people coming to visit! Smile

  3. tinibee Says:

    On a side note - did you try any of the online calculators for withholdings, estimated taxes etc? I tried to be good and do it when I got my commission check, but I couldn't make heads or tails of it and deferred the issue until annual tax time. Not the best strategy, but why do they make it so hard!!! hahaha

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