Now that all the W2s and 1098s have been received, it is time to get your taxes done Post Grads! It's ok, you can do it. They aren't THAT hard.
However, they piss me off like none other. Now that we are no longer paying tuition, we no longer qualify for the American Opportunity Tax Credit. This credit is meant to help families afford higher education. Apparently now that we are repaying loans we don't need as much help.
I am also not yet 25 years old to qualify for the Head of Household tax credit. I don't know how much this one is for, because I've never gotten it, but how can they take away one credit and leave us in limbo for 2 years before we qualify for anther? I'm still the head of my household, even if I'm not 25.
Up until this tax year, most of my income that was taken through the year was returned to me. Up until this year I also was not working a full time, salaried job for an extended period of time. This year, I did not get the majority of my money back. I got maybe 1/4 of it.
After filing my taxes I came to the realization that as young, single, moderately successful members of society, we get absolutely screwed by the American tax system. My mother got 6 times as much back because she is over 25 and has 2 dependents. It's like the government is encouraging us to procreate!
Now, as much as I hate the unfairness of the tax system, I also love surprise money. Have you ever found a $10 bill in a coat pocket from last winter? Tax season is like that for me; finding money I forgot I had. My refund is enough still so that I can use it to explore the world. Ok, not the world, just Iceland, but that is still pretty awesome. Without my refund I would never be able to afford such a trip.
The tax system needs some revisions, but I suppose I cannot complain about surprise money too much. Have you all filed yet?
