Here is a breakdown of my income for February.
|Credit Card Other||$125|
February was a great income month. It was probably the most I’ve ever made in a month in my life.
I made almost $4000 from my job. That was with one of the paychecks only having a little bit of overtime. Now that tax season is in full swing I’m working about 60 hours a week every week. My last check of February had almost 40 hours of overtime making it more than twice as big as my normal paychecks.
I also got a nice refund of $2400 from my federal and state taxes. I claimed “0” for withholding during the year since I wanted to make sure I had enough withheld to cover the SE tax from blogging and FBA income. I guess I didn’t need to withhold that much. Even with having to repay $750 of the Premium Tax Credit I still got a big refund on my federal refund. Although I had a big refund my tax liability wasn’t $0 as it has been in many years. The government got to keep about $3000 of the taxes I had withheld from my check. I’m not complaining. I’m going to leave my withholding as it is. Since I wouldn’t earn much interest on the extra income anyway I’d rather play it safe and have taxes withheld at the same rate.
This month is going to be another great month. There won’t be a tax refund but there will be three paydays. And these will all be paydays that I have about 40 hours of overtime. I should make over $6000 again.
I am beginning to burn out from working all these hours. Tax season will end next month so I can make it through. I definitely wouldn’t want to work these kinda hours all year. The big checks give me enough motivation to keep working overtime through tax season though. I should have been working overtime like this in previous tax seasons.
My other sources of income are being neglected during tax season. It doesn’t make much sense to spend time on them when I have unlimited overtime available right now that will pay me a guaranteed rate of return.
I’ll be a little sad in May once my paychecks go back to normal. For now, I’ll enjoy the big checks while they last.