April 5th, 2005

Boss Coffee

The pain of procrastination

Downloaded and roughed out my federal taxes this morning (once the tech boys smacked the HR Services portal upside the server so I could retrieve my W-2) and it looks like I'll be getting a healthy chunk of change back. Things will be different next year, since Melody will have moved out of the apartment and 'll be paying at the single rate, but I'll still have that hefty college tuition deduction going for me. The state return, on the other hand, blows chunks. I'm going to be handing over a nice chunk of change to Governator Jr. and the folks at the capitol, since Minnesota's Working Family Credit doesn't work the way the federal EIC does and is rather perverse to boot...after reading the instructions several times, I don't understand why they bother having you calculate the WFC based on your gross income and your AGI, since you have to take the (lower) credit based on your gross income. I suppose there's some wacky combination of unearned income and adjustments that would somehow make your AGI more than your gross, but how many people fall into that category? One percent? Two? Sheesh.

UPDATE I knew it was too good to be true. I went back and took another look at the 1040A, and sure enough I'd miscalculated the EIC and taken more of a tuition deduction than allowed. Looks like I'll be paying them off in installments again this year.
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