Taxes done
April 4th, 2004 by HenTaxes done for another year.
A long battle with minutae to find out whether the US governments or I owe each other a pittance.
Apart from general brain-wrackings over how to handle Carrie’s new knitware company, which is an LLC, the main lesson learnt was that last years state tax refund is taxable as income, but only on the federal tax income.
Yet again, filing the state tax separately on a combined return turns out to be the best approach, and the reality is that the state of KY is paying the US government a small amount via me. The most amusing part is Carrie’s OL-3, in which Jefferson county will receive all of 32 cents.