Taxes

Every other year, I'm able to claim my son. Regardless, every year I've benefited from itemizing my taxes rather than going with the standard deductions, at least for the past twelve years that I've been a mother. Except for this year.

I've been doing my own taxes for the past...ten years or so. I think there were a few years when I was married that I stopped doing them on my own and we had them done by a tax advisor. Somewhere in the back of my mind is the fear that I'm missing something and I could really get a bigger refund. It may or may not have something to do with H&R Block's advertising of a piece of mind in reviewing your previous years taxes that can reap you bigger refunds.

I started my online review about a month ago just to see what they would look like. I couldn't recall offhand if I could claim my son or not. I finally got back to looking at them as I think I have all of my necessary paperwork to file. Last year was the first year that I didn't have childcare. It was also a year that I stopped making charitable contributions that I can deduct - as I've started donating both items and money to people around me - clothes, cribs, baby items, money for personal losses - things not deductible on my taxes but far beyond itemization with personal gain and appreciation.

Unless I've completely missed something, the standard deduction far exceeds my itemized deductions. I'm not really sure how either. In comparing this year to last, the major difference is not claiming my son and then the charitable contribution. I did refinance my mortgage and may have purchased a point, but even so, it wouldn't account for the difference of approximately $1500 between the standard and itemized. I also realized that the standard deduction went up from last year, so that may have something to do with it.

Seeing that there isn't any reason to rationalize additional expenditures for itemization, it makes filing my taxes so much easier. That is, unless I'm missing something...boat, where are you?