Jennifer E. Thomas (j3nny3lf) wrote,
Jennifer E. Thomas

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Tax time

I swear, the Earned Income Credit is like permission to steal.

Sam doesn't earn enough at the school to have any tax liability at all, so they refunded the entire.. $1400 he paid in income tax in 2008.

Then we got an extra $1000 bucks, why? Because we have an "extra" child. I don't understand that one, but hey, I'll take it.

And then the EIC. Because of the low income level, he qualifies for that one. What's that mean?

Almost FIVE THOUSAND DOLLARS!?! Our total refund is over $7K. We're just in shock.

That money is all already earmarked. $1500 to the church benevolent fund to repay them the $1000 for Sean's root canal plus a little bit (they told us flat out when we told them we would pay it back that that was not expected at all, but we want to. It's going to be a rough year, and we don't want that fund to be wanting if we can help it.). $2500 paid forward on our rent, which will give us a balance of $3600, meaning we pay only $250 per month on our rent for the next 12 months. $1200 toward the electric bill, which is averaged at $225 per month, so we'll only pay $125 per month for a year on that. The rest is going to bring the boys to the dentist, and get everybody's (including the parents!) eyes checked and new glasses as needed from this website that does frames and lenses for $25 total.

By paying ahead on the rent and electric like that, that's $400 a month that we don't have to fret about. And not having to fret about money is a very good thing.

But what is up with that EIC? It seriously feels like I'm robbing a bank.
Tags: money

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