Ann Taylor, my love..... I AM BREAKING UP WITH YOU!

Quality, quality.  You used to be allllll over it.  I could count on you like my bestie. If ever I needed an outfit, and especially last minute, you were the one. I knew the very corners of your store oh so quite well, because I was the one perusing the sales rack and getting my best finds.  All I had to worry about was price, because Quality was always there.  Even if I had no other immediate choice but to go for brokes, I did so willingly because I knew that your Quality would stand up royally.  But no more.  On several recent occasions, I paused and pondered, and then

TAX DAY - 4/15/2014

GET YOUR TAX HERE!!!

Well, well, my lovely kitties.  TAX season is now wrapping up.

The time of the year to true up with Uncle Sam.  Don't worry, he is my uncle too, and I have to make peace with him by April 15th,  or if Extended, by October 15th.

Things to keep in mind:

1. All 2013 Personal Tax returns or Extension Filings (request for more time to file--up to Oct 15th), are due by April 15th, 2014,

2. If you file for an Extension to File up to October 15th (Due Apr 15th), the Extension is only to file, NOT TO PAY TAXES YOU OWE.  Therefore, if you estimate that you will owe, you MUST PAY what you estimate you will owe by April 15, along with Filing your Extension. (VERY IMPORTANT to remember, as the IRS will assess interests and penalty fees if you've owed them since 4/15th).      

Note: If you estimate that you will owe nothing, you do not need to make a payment with your extension filing.

Estimate You Will Owe                Action for Extension Filing (due Apr 15)

NO                                                File

YES                                              File and Pay

***Trick, if you think your estimate of what you owe might be off, pay a little extra with your extension filing just to be sure you are in compliance; and when you file your actual tax return, you will just get a refund.

However, if you can file now, I would suggest doing it and getting it over with.  Don't wait until last minute, because you don't know what can happen to prevent you from filing close to the date.  The golden rule is:

:) YOU EXPECT A REFUND

 If you expect a refund, file as early as possible. 

:( YOU HAVE TO PAY

 If you expect you have to pay, file closer to the deadline (still I don't suggest all the way up to 4/15, because Murphy's Law is running around rampant....maybe by 4/1 (well, for next season), 2 weeks before the deadline for good measure.  Also, if you owe, you don't have to wait until April to prepare the return.  Just go ahead and prepare it now, and then send it in when you are ready to make the payment.  As well, if it is'nt going to break you, just send in the payment when your return is ready, and you will have the weight of filing off of your chest.  

When to file is really up to your style, stress level, needing to be done with it already clock, or IRS you can't have my money until it is due barometer.  It is truly up to you----strut your stuff. But make sure to meet your deadlines.  

Check out below for places to help you prepare your return this year:

FREE OR LOW COST TAX FILINGS

This Year TurboTax is allowing individuals to file Federal Taxes for Free and your State Tax return will cost you $14.95.  Other Tax Prep places are also running similar deals.

If you make under a certain amount in 2013, you can self file your Federal Taxes for free with popular tax preparation software.

Go to IRS.gov  (Click "Filing" tab and follow the instructions in center of sreen). .....

For instance, TurboTax lets you file for free if your adjusted gross income is under $30,000, and then your State return is a fee of $14.95.

TAX PROFESSIONALS (CPA or Tax Accountant):

If you have a complicated return and can pay for a service in the $500 range, where you will get this money back by the Tax Savings a tax professional can get for you, I would highly suggest using one.  (However, if you had little income and a very easy Return, I suggest one of the above options.)  A great Tax Professional can work on getting you the most deductions, some  you would not have thought of on your own.  This is what they do for a living all year, and it is part of their process to the research the hell out of the tax code, which is a lot.  I dont have time to do this, and Tax Prep Software will only have the most common or likely deductions.  Even I have to make corrections to tax prep programs over several years when I've used them (whether for myself or assisting others).  Last year, I could not make the program correct itself, so rather than whiting it out, I sent it in, and you bet, the taxing authority corrected it for me.  Remember,all of these sources have their places, but it is up to you to know when to use them.

Happy Martin Luther King Day! to the World

Leaders are not born, but chosen.

In remembrance of your great contribution to all!

Happy New Year! To a Successful 2014...

Happy New Year to Everyone.  And, Hello, on the first day of 2014!

I wish each and everyone of you a fabulous and fulfilling year.  My little big advice:  Let the lessons from old show via positive implementations in the New Year.

To help you along with your goals, I will be publishing a budgeting series at the beginning of this year. Please look out for it.  And I hope it works well for you by leading you towards a phenomenal life on a budget.  After all, like I've said from the very beginning, "budget" is not a dirty word!  :)

See you through out this year---all of you budget divas!

All the very best,
Budget Kitten!

________________________________________________________________

2017 UPDATE:  As I mentioned in my 5/12/17 posting regarding Entrepreneur Walk, I have finally made the decision to dedicate myself to Entrepreneurship.  That said, I will be able to focus more on creating more valuable content for the Budget Kittens out there.  This is indeed a calling, and I have finally picked a side to continue on this path.  No more distractions.  I am here to make a difference in any way I can.

Thank you to those who have been very supportive, even in my absence.  I am now here.  --BK