Your Bottom Line

The question this time of year is: Are you getting a refund? Have you filed? When will you get your $? If I owed, I would get in the line Tuesday night at the post office. Why give them my $ ahead of the deadline?

Is that your bottom line?

Please take a moment and look at page 2 of your 1040. The bottom line (76) is just above the signatures. That is the amount you owe.

Line 74a is the bottom line if you are expecting a refund.

But Line 63 is your true bottom line. Your total tax.

Take a moment and see what your total tax really is. This is the amount your income/earnings cost you federally for 2007.

This is an important number for planning 2008. We are already 1/4 of the way through the year. Adjust your W4 with your employer if necessary.

'til later