Confessions on Tax Day

Yes, the deadline for filing tax returns is finally here. It was my original plan to complete the process before April, but due to my out-of-state move, an increase in my work load, and other complications, I did not get to finish it until last week. To be completely honest, I dread tax season, and I am glad it is coming to an end today. I always get more anxious than I probably need to be, especially right before I find out how much I have to pay (or not pay) in taxes. Last year I had to pay a sizeable amount to the federal government; this year was much better.

This year also marks a change on how I handle taxes; I decided to pre-pay taxes quarterly this year, due to my status as a contractor and being responsible to deduct the amount myself. It should make next year’s tax return filing a more stress-free experience, or at least I hope so. For me, splitting the tax amount in four installments is better than paying it all in one lump sum later on. I have already marked my calendar for the remaining three deadlines this year, so I will be ready to mail my voucher and check to the U.S. Treasury each quarter.

So while I breathe a sigh of relief as the tax season comes to end, I wonder about millions of my fellow Americans on this day of financial reckoning. Have any of you waited until the last minute, or did you file your returns soon after receiving your W2s or 1099s? Do you have big plans for your tax refund checks?

See you next year, Tax Day. I will be better prepared to face you the next time around!