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Just Found Out!!

January 20th, 2012 at 02:17 am

OMG!!

I was working on our tax return. I input wage information even though I'm waiting on the W-2. It turns out all military income earned in our state is now exempt from state income tax, retroactive back to January 2011. This also means all income earned going forward is exempt from state taxes. This is huge!

Right now we are having $291.22 withheld each month for taxes. That is now money back in our pocket. Wow! I wasn't expecting that. I guess I'm not listening to the news close enough. This bill was signed into law on 5.11.11.

This also means our tax refund this year will be about $2300 or $1200 more than I expected. Nice!!

Oh, and you got to know I just online with DFAS to change our withholding to exempt. That will be effective February 1. Yipee!!

Now...I've really got to make sure this counts.

8 Responses to “Just Found Out!!”

  1. Looking Forward Says:
    1327026663

    Awesome!

  2. MonkeyMama Says:
    1327026718

    Awesome!!!

    I'd be jealous, but, wait, $291.22/month for STATE taxes? Holy cow! Nevermind, not jealous. Just HAPPY for you! Big Grin

  3. LuckyRobin Says:
    1327029151

    That is really great news! It's about time they did something more for our military families.

  4. frugaltexan75 Says:
    1327029864

    Yay! Our military families SO deserve this!

  5. My English Castle Says:
    1327030843

    Excellent! Wow!

  6. mjrube94 Says:
    1327031613

    That's great news! Don't save it all in one place Wink

  7. Petunia 100 Says:
    1327035453

    What a nice surprise! Congrats. Smile

  8. guppy Says:
    1327108935

    YAY Smile

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