Tax Time

We did our taxes this past weekend. We ended up buying Turbo Tax, and it was actually fairly easy to understand. We always us our refund to go towards our Property Taxes which are due on our primary residence by the end of June. This year we are getting back $1,416 between the two of us. Our Property Taxes are estimated to be around $2,300 so our short fall is approximately $900. We have a separate Money Market Account, designated as a Property Tax shortfall account, that we contribute to autotmatically each month, just for this reason. In a previous post, I mentioned that I would like to up my RSP monthly contributions, so by do that, hopefully it will reduce how much we have to take from that Money Market Account, in the years to follow. My goal "one day" is to put an extra $200 into my RSP per month or $2,400 a year - it's pretty lofty, so for now I'm just concentrating on putting any "extras" left over from our monthly budget into my RSP. I definately feel relieved that the taxes are done.