Tax return

We got our tax return back a few weeks ago. Alyssa and I were pleasantly surprised at the amount we got back. We're moving into our new house in the next week or two and the return will go towards part of our down payment, fence, and applicances we need to get settled in. A lot of people wonder how we're so lucky to get a large tax return in comparison to theirs. Initially I really wasn't sure how it all worked out. I thought we were just getting really lucky year after year. The more I think about it the more I realize we're really not as lucky as it looks on paper.

Here's how I break it down.

1- Since neither of us are in a career job yet we esentially work for peanuts. Our combined income is about even with a lot of people's individual incomes so obviously that puts us in the lowest tax bracket.

2- I calculated that 29% of our GROSS income went to college tuition. That would be about 36% of our NET income. Not including books and other crap. This is the main reason for our bigger return. So while I'm at work today for 9-10 hours I may as well give $30 to Weber State.

3- We also pay 10% of our income to tithing. That counts as a contribution to charity and results in a tax break.

Alyssa will be graduating from school in a few weeks so we won't pay as much in tuition in 2010. However we will be having a baby and buy a house this year so that may compensate for the lower amount going towards school.
I really try not to dwell on taxes too much because it's enough to give me an ulcer. The government takes money from everybody and then spends it with no regard to popular vote. Deficits are astronomical and I find myself asking where these people are throwing all this money. Maybe we can ask the CEOs at the bank bailouts? I suppose that's a debate for another time.