Sunday, January 17, 2010

Hold up...exactly how much are you getting back???

This post is dedicated to any person who is anxiously awaiting a big fat refund check from the government. I've seen my friends on Facebook posting about how they're going to buy a new game system, a new phone, a new camera, even a new car with their refunds...and the only thing I can think of is biting my tongue so I don't scream "you could've had that money LAST year!" Seriously, there is an art to doing your W4s, but if you're getting more than a few hundred dollars back, your withholding is WRONG. Why give the government an interest-free loan for the year? Think of it this way - we're all strapped for cash right now and many of us are working hard just to keep afloat and pay down debt as best we can. How much would it help each month to have an extra $50 in your budget? That's what you'd have if you traded in your $600 refund. Expecting $1,500 back? Fantastic - that would've been an extra $125 every month! See how the math works? Personally, I don't like to play it too close to the wire, so my goal each year is to neither owe nor receive greater than $500 from the government at the end of the year. I'm not sure how we did last year because we've never factored in unemployment before, but I will absolutely keep you all posted when we sit down to do our taxes! I'm keeping my fingers crossed that we guessed it just right!

In other news, Scott had a very busy Friday. He had an interview in the morning that led to a job offer for a temporary (4-6 week) position, with the possibility of going full-time if work was available). We also found out (after much hounding) that the Virginia Beach job was filled by a local candidate, but we didn't even get a chance to pout about it all that much because at 4:45 on Friday afternoon, his phone rang and it was the branch manager for the Fayetteville office of ECS asking if they could do a phone interview at 6:30 that night! Scott said yes, of course, and had a great conversation with the guy about the opportunity they have. They are seeking an experienced geotechnical/CMT EIT who will manage the construction of new barracks at Fort Bragg for the next 6 months. The position will also entail doing business development (marketing and taking clients out, etc.) and would lead to Scott acquiring his PE license and becoming the #2 guy in the office! It seems like a very exciting opportunity and they have arranged a face-to-face interview for Tuesday at 9:30. We're not counting any eggs of course, but as long as the branch manager likes Scott in person as much as he did over the phone, he said the job could start as soon as January 25th! Talk about a time to be anxious! Thankfully we got to spend this weekend being very busy and it went quickly, so all we have to do now is get through tomorrow and make sure he hits the road on time Tuesday morning. I'm keeping my fingers crossed about this as well!

I'm going to sign off for tonight, but please keep us in your thoughts and prayers for the next week or so. I will provide updates as soon as I know anything and hopefully, we will re-enter the world of employment soon!

All my love,

2 comments:

  1. Good luck with the part-time work! Fayetteville is an interesting place...hopefully it will work out well for you though. A job is always a good thing!

    I agree with you about the taxes thing...it's really better to owe a few hundred if you have enough savings, because then you are earning interest through the year on that money! Until recently my taxes weren't paid automatically, I had to pay them quarterly myself...which meant that I was paying exactly what I was supposed to pay (as determined by Turbo Tax from estimated income and previous tax rate)...and therefore didn't owe anything! I'm hoping to be that lucky this year, even though I've had taxes taken out of my pay automatically for the past few months...

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  2. Yep, we're getting back WAY too much this year. We're using it to put up a fence in our new yard. We now have 2 deductions...I mean kids...and I'm PRN at work and took an unpaid maternity leave last year, so we were all screwed up. I claim 0 and my husband claims 2. We'll definitely have to adjust that.

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