Whats your tax refund?

[Bajjani]

how can i have the least withheld, yet still prevent me from having to actually PAY come tax time?

cheat

[civic95]

how can i have the least withheld, yet still prevent me from having to actually PAY come tax time?

Up your allowances on your W4. If you got back less than $1000 I would only up it 1 more, and see how it comes out this yr.

[Krazykouki]

Well...I got about 1200...but..I have 800+ in bills not including car insurance, legal fees, medical payments..etc..etc..so yea...Im not getting shit.

[Mike Lowrey]

Getting about $4,300 back.

[Fast Shadow]

Owe $4400 - $3200 federal $1200 state. I don't give the government free loans. I keep the money in the bank and earn interest.

[NewGen33]

$15

[quickdodge®]

$3,000. Later, QD.

[StupidBikerBoy]

$4800

[pck3]

I was part time and I get 270 federal. Wish it was way more.

[SKUNK2GUY]

not a damn thing

[JDM onlyy]

I still haven't even got my damn W2. Need to ask my boss bout it, lol he lives in my neighborhood..use to work for his restaurant and still had to pay taxes...

[bdydrpdmazda]

Mine wont be shit because I only paid taxes for the month of December, the entire time I was in Iraq I wasnt paying taxes.

[Julio]

Owe $4400 - $3200 federal $1200 state. I don't give the government free loans. I keep the money in the bank and earn interest.

i was thinking about doing that. Im still tempted. Only bad thing, you still have to pay uncle sam..but atleast earn a lil interest I guess.

[gijoe0720]

$401 from federal and owe the state $18

[R3RUN]

Lol, my w2 came back in the wrong name. I got fucked over for an entire summer where I worked but didnt know about it until later. Oh well.

[Vteckidd]

im getting like $600 back

spent $3500 on tools, but i dont make that much a year as far as the GOVT is concerned, im in poverty

[Eimaj]

$7200 fed
$680 state

Interest on my house loan, and the fact that both me and the wife were both in school this year helped out.

I just need some kids for deductions and I'll be good to go.

Just don't ask me how much I paid
Taxpayer --> :idb: <--Goverment

[§treet_§peed]

im getting like $600 back

spent $3500 on tools, but i dont make that much a year as far as the GOVT is concerned, im in poverty

sneaky bastard

[JennB]

I was part time and I get 270 federal. Wish it was way more.

You wish your checks were smaller each payday? Why would you want to pay more taxes?

[VegetaRules]

You wish your checks were smaller each payday? Why would you want to pay more taxes?

Well Jenn, you still haven't told us quite how to " break even". I know we talked a tad about it before in a Wallstreet section post. I'm wanting to know how to break even.

Now as of now I go half the year exempt, then file zero+ letting them takeout an extra $3. I'd like to sorta explore this, but don't wanna pay them bums no money at the begining of the year. lol....Vegeta

[JayKnight]

I am anticipating about $3000, so nice to have itemized deductions and college tuition, and being a home owner.

[JennB]

Well Jenn, you still haven't told us quite how to " break even". I know we talked a tad about it before in a Wallstreet section post. I'm wanting to know how to break even.

Now as of now I go half the year exempt, then file zero+ letting them takeout an extra $3. I'd like to sorta explore this, but don't wanna pay them bums no money at the begining of the year. lol....Vegeta

Sorry... i've been out for the weekend.

It's easiest to do if you are a salaried employee. The key is to do your taxes at the beginning of the year. Figure out what you will make for that year and then figure up your AGI and tax liability then divide it by your number of paychecks and have that amount withheld. If you change jobs 5 times during the year and have times with no pay, it's going to be pretty hard but if you have a steady job and regular pay, you can do it.

The IRS has actually made it so you don't have to do any of the work.... use their online calculator and it will tell you what to put on your W-4.

If you don't need the extra money on your check, put it in savings. If you change your w-4 and get an extra $40 on your check, save it. Then you have the money you would have had refunded, plus interest, and you don't have to wait for the gov. to give it back to you... it's always there if you need it.

http://www.irs.gov/individuals/artic...=96196,00.html


So many people look at their tax refund as some sort of reward, an incetive or something.... it's not. It's money that was taken out of your paycheck and the gov. has held onto. Your tax liability for the year is the exact same if you have $500 taken from each check or $100 from each check... $500 will just get you smaller paychecks and a huge refund because you overpaid. It's kinda like buying something from a store... if the cost if $5, you can either give them $5 or give them $20... the cost is the exact same, you get change with one and not the other. Getting a tax refund is overpaying your taxes.

It's always up to you if you want to give the gov. an interest free loan for the entire year, but there are much smarter things to do, especially if you are living paycheck to paycheck. If you are doing that and getting back $2000 at the end of the year, why not change that and get more $$ on your checks and be more comfortable? Some people really like getting a huge refund... I guess it's good if you are truly terrible at savings. But I just want people to understand that that money is yours, its not an incetive or reward from the government... it was withheld from your paycheck during the year.

I hope that's at least somewhat clear... I'm still tired from yesterday.

[ShooterMcGavin]

great post, not sure that i know all the #s off the top of my head but it certainly helps

[Evil Goat]

getting back $540 on federal and $195 on state

[devin]

3500

[Riceboy891]

Owe 450 federal and get back 17 state

[cpa ric]

I am a tax accountant. There is no magic formula for getting back more money. If you are single with two or three kids and you file head of household, you will get back all of your withholding and then some. It's called income redistribution.

Cpa Ric

[Julio]

Sorry... i've been out for the weekend.

It's easiest to do if you are a salaried employee. The key is to do your taxes at the beginning of the year. Figure out what you will make for that year and then figure up your AGI and tax liability then divide it by your number of paychecks and have that amount withheld. If you change jobs 5 times during the year and have times with no pay, it's going to be pretty hard but if you have a steady job and regular pay, you can do it.

The IRS has actually made it so you don't have to do any of the work.... use their online calculator and it will tell you what to put on your W-4.

If you don't need the extra money on your check, put it in savings. If you change your w-4 and get an extra $40 on your check, save it. Then you have the money you would have had refunded, plus interest, and you don't have to wait for the gov. to give it back to you... it's always there if you need it.

http://www.irs.gov/individuals/artic...=96196,00.html


So many people look at their tax refund as some sort of reward, an incetive or something.... it's not. It's money that was taken out of your paycheck and the gov. has held onto. Your tax liability for the year is the exact same if you have $500 taken from each check or $100 from each check... $500 will just get you smaller paychecks and a huge refund because you overpaid. It's kinda like buying something from a store... if the cost if $5, you can either give them $5 or give them $20... the cost is the exact same, you get change with one and not the other. Getting a tax refund is overpaying your taxes.

It's always up to you if you want to give the gov. an interest free loan for the entire year, but there are much smarter things to do, especially if you are living paycheck to paycheck. If you are doing that and getting back $2000 at the end of the year, why not change that and get more $$ on your checks and be more comfortable? Some people really like getting a huge refund... I guess it's good if you are truly terrible at savings. But I just want people to understand that that money is yours, its not an incetive or reward from the government... it was withheld from your paycheck during the year.

I hope that's at least somewhat clear... I'm still tired from yesterday.

If people in this thread didnt know that, they need to be hanged




I think im going to see alot of dead bodies!!!

[Julio]

PEOPLE !!! FUCKING KNOWLEDEGE IS POWER.. TAKE THE MOTHERFUCKING TIME TO READ AND EDUCATE YOURSELF.


DONT BE FUCKING STUPID. THIS IS WHAT FUCKING HIGH SCHOOL SHOULD BE TEACHING!!! AND FUCKING TEACHERS WANT TO MAKE MORE MONEY... FUCKING LAME.

[BKgen®]

im getting $900.

i'm thinkin ps3.

[ShooterMcGavin]

just had mine done, gettin bout 2200

[ShooterMcGavin]

If people in this thread didnt know that, they need to be hanged




I think im going to see alot of dead bodies!!!

damn julio is harsh lolol

[nx2000det]

supposed to get around 1400 back

[Turbo04]

The only bad part about overpaying durring the year is that your giving the extra money to the government to use intrest free all year vs paying what you have to pay (or just the right amount so you don't owe) and sticking the extra money in savings. In savings at least your earning interest. That being said...I owe 3800...lol.....

[HEATON]

815, federal. 170 state... WHY the Fuck I have to pay state taxes?? I don't live in Ga.. Damn this!

[Nitro]

3300 fed
469 state

[JennB]

The only bad part about overpaying durring the year is that your giving the extra money to the government to use intrest free all year vs paying what you have to pay (or just the right amount so you don't owe) and sticking the extra money in savings. In savings at least your earning interest. That being said...I owe 3800...lol.....

I try to explain that very often

Still see posts and hear people saying things like "yay, free money!" or "thanks, uncle sam". Why are you thanking someone for returning your money to you? that's not free money, it was taken out of your paycheck months ago. Oh well.

[Hulud]

full time student, part time job

getting back $700