rambling about taxes and other things

[sarea]

Financial things give me a headache.

I understand and respect consumerism. Buying yet another handbag at the mall and then seeing it on my credit card statement -- straightforward and clear. But taxes? 401Ks? IRAs? Money markets mutual funds bonds stocks blahblahblahblahblah??? It's like a whole different planet. A planet of which I have no understanding. On my cousin's (more expert) recommendation, I am moving my Roth IRA from Edward Jones to Vanguard. It's supposed to be an 'easy' process. And I suppose in comparison to other investment-type things, it is. But I am in a state of perpetual confusion when it comes to this stuff.

As for taxes ... I don't know. I feel like my refund this year should be a lot bigger than it is. It's less than half what I got in previous years, and not much has changed about my financial situation. What's been your experience this year? Does that seem normal? Also, now with this sales tax thing, I'm wondering if I should take the time to itemize it, because I have purchased so many things this year, and a test of it shows that I would get a much higher refund (assuming I've spent as much as I think I have). I'm filing online, though, and there doesn't seem to be a place where I can itemize purchases. So does that mean I can just enter whatever figure I want, and hope the IRS doesn't decide to check up on it? (That wouldn't be a problem, since I have all my credit card statements, but it would be a hassle.) And am I supposed to only add up things that I purchased from my home state, or anywhere?

I think I am a fairly intelligent person. And educated, even! I was on the fast-track math courses in high school and took calculus my senior year and everything (okay, I sucked at calc, but that is not the point). But when it comes to taxes I feel like I should have been in remedial math. I mean, WTF. If I can't figure it out, given the fairly intelligent/sort-of educated thing, then how is someone with a less advantaged background supposed to figure it out?? Jebus.

I've considered going somewhere like H&R Block to get them done ... but I balk at the idea of giving someone else money to do my taxes, when they are (relatively) (theoretically) straightforward. If I had dependents, or were self employed, or whatever, it might be a different story.

I wish I knew a financial whiz. That would rock. They could tell me what to invest and when, and I wouldn't have to worry about it. Life should be like WoW. You get together with your friends and family, and choose professions that are dissimilar so you can help one another out. The next generation would follow suit. "Sorry Joey, there's not an opening for a lawyer atm, but you can be a pharmacist or a pediatrician. Possibly an understudy mechanic. What do you think?" It'd be so great to know people from the whole spectrum of professions. I think a financial advisor and mechanic would be most useful. :D

This is the first time, I think, that I actually chose the national champion correctly!! And I was consistent about it in all four of my brackets. (Too bad I didn't do so hot anywhere else.) Squeee for that, although I sympathize with my Illinois buds. I didn't really have anything riding on this year's outcome, so I'm sorry you were disappointed. :(

Meanwhile, my WoW diet continues to work. I am now 1 pound away from my goal weight. (Rather arbitrarily chosen.) O.O I never thought I'd get here! Later this month I have an appt w/ my doctor, and we'll see if this has affected my cholesterol in a positive way. If not, I'll probably have to go on medication to lower it. Sigh. I so don't want to have to take medication. Plus I fear that it will send me into a bitter binging rage, and I'll gain all the weight back and have high cholesterol.

akscully and sumdumgai both lvl'ed to 40 last night!! My brother actually got his mount. Stupid paladins and their stupid free mounts. Hmph. I'm about halfway through 39, and I have 89g at the moment, so I think getting my mount once I hit 40 is an almost certain possibility. Squeee! Poor Essia does not yet have the money for her mount, but I don't really understand why. I mean, she can't wear mail or anything, so she'd sell all of that. And keeping herself clothed in slutty tissue paper isn't very expensive. Of course, she's the most terrible roller EVER, so maybe that has something to do with it.

I learned that people from other factions can actually buy other factions's mounts, but you have to be revered. Is that even possible?? I didn't know you could do that! But I don't think I have EVER seen anyone riding a mount that wasn't from their faction. Wouldn't it be hilarious to see a night elf on one of the gnomes's bird contraption things?? If it's really true, I'm so going to make my gnome get revered in Stormwind so she can get a horse. That would be so cute.

As previously mentioned, we have a Draco and Ginny on Uldum. akscully has now created Harryjames. :)) More HP characters on Uldum welcomed. We'll be the geek squad supreme!

Comments

[selinakyle47.livejournal.com]

Here's a possible answer to your sales tax question.

And cheers on the weight loss! :D

[sarea-okelani.livejournal.com]

Hmm, sort of. It does say that you have to itemize it, but filling it out online, I didn't see anywhere where to itemize. Also I'm still not sure if it's just stuff you purchased all year from anywhere, or just stuff in your state (I would think the latter, but you never know). And like, does food count? Damn, maybe I have to go to a professional, after all.

[selinakyle47.livejournal.com]

Try this one instead:

If you itemize your taxes, you may choose to deduct state and local sales taxes instead of state and local income taxes

I think it only works in your favor if you spent more on sales tax compared to income tax (by buying a big-ticket item). And it's limited to purchases in your home state.

Here's Pub. 600, which tells you where to put the deduction, if you choose to take it.

[sarea-okelani.livejournal.com]

Oh, I've definitely spent more on sales tax than income tax -- because my state doesn't have income tax. <g> Thanks for the other helpful info. Hopefully I will be able to put all this into practice when I'm doing it online, though I will have to look for my credit card statements from the earlier part of last year. *sigh* I used to be really meticulous about my paperwork, but for the last couple of years I've been a disaster.

[akscully.livejournal.com]

Yeah, it's hard to make money when I NEVER WIN A ROLL. :(

Also, you have to have exalted status to get another faction's mount and getting exalted is nigh impossible. I think ONE person did it and she had her whole guild helping her (human bought a nightsaber).

[heinous_bitca.livejournal.com]

Congrats on dinging 40! Ruana dinged 30 on Tuesday. I've decided I'm saving up to 18g now so that I can buy riding, and then I'll start saving for the mount!

[sarea-okelani.livejournal.com]

That's a good plan, actually. I'm still enough of a newbie not to realize that you can do stuff like that at separate times. I would have done the same, I think, if I'd realized you had to buy your mount and training separately.

[akscully.livejournal.com]

See, I think I needed to do it all at once because as it was, I would have had riding for a loooong time before I could afford my mount and that would have irritated me greatly. I would be able to hear that passive ability just calling out to me, mocking me. >:O

Thanks for the congrats! I could buy two spells after the mount but who cares? :))

[heinous_bitca.livejournal.com]

Exalted. And yes, you can. You can't cross factions, and Tauren can't do it because they're too big. But if you're Exalted by the dwarves, humans, or gnomes, you could buy one of their mounts. ;)

[sarea-okelani.livejournal.com]

But I've heard it's nigh impossible to get exalted in a different faction. Sigh.

[akscully.livejournal.com]

You have to find a repeatable faction quest and just do it over and over and over and over and over and over and maybe you'll get enough rep points. It also helps to be human since you get a 10% rep bonus for every quest you turn in.