I got $900 back in state taxes about a month ago. $1,500 will be transfered Sunday to the Feds. Last year it was over $4,000. We should do a little better next year. I retired in May 2010, my wife in May 2011. We both were teachers. Because of the way we were paid we actually made more in the year we retired, but were taxed at a lower rate on the retirement income. 2012 will be the first year all of our income will be from our retirement so we should come pretty close to breaking even at the end of the year. We may be at the point where we will be better off taking the standard deduction. Our home is paid off, kids grown and we have very little to claim as deductions after this year.
