Nice story Darnell! I made the switch from TurboTax to FreeTaxUSA a few years ago. Much cheaper service that does the same thing, I end up paying about $20 every year to file. A lot of libraries also have free tax filing services from CPAs if you have more complicated returns and want to go that route, I've used that before too.
It will make a great column next year! "How I paid myself to stop procrastinating on my taxes." If you get your refund earlier next year, that money can be invested longer and more than cover your filing fees by April 👍
From reimbursements to rebates, I want ALL my just just dues and come up-ins! It could be a dollar, if it’s mine, I want it. No company would leave money on the floor, so why should we?
You’re right. We shouldn’t. And even though I’m doing the best I’ve ever done with being diligent, there are still work expenses that slip through.
For example, I just received a toll receipt yesterday from my rental in OKC last month. It’s a $6.35 charge I wasn’t aware of. Those little charges add up and can bleed your bank account if you’re not careful. My hope is that Parker never has to learn that lesson the hard way.
Thank you for sharing your perspective. It’s good to hear from you! :)
For taxes, I file my own with Cash App and it's been fine the past two years. Your situation may be more complicated however.
One way to avoid that credit card bill issue in the future, just keep more in your checking. It sucks to not be earning any interest, but I always keep at least 1,000 in our checking account. That's enough to cover any of our regular expenses and I don't have to worry about transferring from savings if we've had a spendy month.
Wow. I didn’t know Cash App provided such a service. But you’re right, my taxes are becoming more complex with each passing year. But taxes are so important to this journey, I have no choice but to master the game.
I really like your idea to keep $1,000 in checking. As you noted, the drawback of losing the higher interest on another $500 or so is tough for me to fathom. But it beats the fear of being unable to pay my balance in full and being charged interest.
I’m going to incorporate your plan into my strategy to allow myself more breathing room. Even though I’m ultra-aggressive now while in the accumulation phase, it just makes sense to have a cushion. Thank you for offering that perspective. I believe that small shift will make a big difference.
To keep things in perspective, let's say you kept another 1,000 in checking over the course of the year. If that 1,000 would be earning 5%, you're only missing out on $50 of interest for the year. Not nothing, but nothing to lose sleep over.
So one missed credit payment or an overdraft fee would likely be above that anyways. $50 is a small price to pay for peace of mind I'd say.
Nice story Darnell! I made the switch from TurboTax to FreeTaxUSA a few years ago. Much cheaper service that does the same thing, I end up paying about $20 every year to file. A lot of libraries also have free tax filing services from CPAs if you have more complicated returns and want to go that route, I've used that before too.
Thank you, Stephen. I’m going to look into FreeTaxUSA. It would help if I didn’t drag my feet every year on my taxes and file at the last minute.
It will make a great column next year! "How I paid myself to stop procrastinating on my taxes." If you get your refund earlier next year, that money can be invested longer and more than cover your filing fees by April 👍
When you put it that way, I have ample incentive to turn over a new leaf and become an early filer. I appreciate the suggestions and perspective.
From reimbursements to rebates, I want ALL my just just dues and come up-ins! It could be a dollar, if it’s mine, I want it. No company would leave money on the floor, so why should we?
You’re right. We shouldn’t. And even though I’m doing the best I’ve ever done with being diligent, there are still work expenses that slip through.
For example, I just received a toll receipt yesterday from my rental in OKC last month. It’s a $6.35 charge I wasn’t aware of. Those little charges add up and can bleed your bank account if you’re not careful. My hope is that Parker never has to learn that lesson the hard way.
Thank you for sharing your perspective. It’s good to hear from you! :)
For taxes, I file my own with Cash App and it's been fine the past two years. Your situation may be more complicated however.
One way to avoid that credit card bill issue in the future, just keep more in your checking. It sucks to not be earning any interest, but I always keep at least 1,000 in our checking account. That's enough to cover any of our regular expenses and I don't have to worry about transferring from savings if we've had a spendy month.
Wow. I didn’t know Cash App provided such a service. But you’re right, my taxes are becoming more complex with each passing year. But taxes are so important to this journey, I have no choice but to master the game.
I really like your idea to keep $1,000 in checking. As you noted, the drawback of losing the higher interest on another $500 or so is tough for me to fathom. But it beats the fear of being unable to pay my balance in full and being charged interest.
I’m going to incorporate your plan into my strategy to allow myself more breathing room. Even though I’m ultra-aggressive now while in the accumulation phase, it just makes sense to have a cushion. Thank you for offering that perspective. I believe that small shift will make a big difference.
To keep things in perspective, let's say you kept another 1,000 in checking over the course of the year. If that 1,000 would be earning 5%, you're only missing out on $50 of interest for the year. Not nothing, but nothing to lose sleep over.
So one missed credit payment or an overdraft fee would likely be above that anyways. $50 is a small price to pay for peace of mind I'd say.
Makes all the sense. Thank you.
Loved the surprise visit- “Go Thunder” and Thank you for the “Best Money Move Dinner!”
You’re quite welcome. It was my pleasure. What I didn’t tell you is I went back for more shrimp! Those puppies were much better than I anticipated! 😋