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tax question how much are you getting back-if you dont mind me asking

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Pages: 1 [2]

pmpkn087
Life is good...

Member since 9/05

18504 total posts

Name:
Stephanie

Re: tax question how much are you getting back-if you dont mind me asking

Posted by Sassyz75

Posted by raken40

i just want to get an idea...our accountant is taking f o r e v e r
and says he thinks we're only getting back $900...doesnt sound right.
I claim 1,
my dh claims 0

and we've had a house since august, so between the interest on that and closing costs...

does this sound right? Chat Icon



Either you get money back at the end of the year, or you have the money in your paycheck throughout the year.

There is no 'free money'.

Better to have the money in your paycheck weekly.

Why give the feds an interest free loan???



Dina, I feel the same exact way. I would hate to overpay

Posted 3/21/06 5:26 PM
 
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Salason

Member since 6/05

9878 total posts

Name:

Re: tax question how much are you getting back-if you dont mind me asking

Posted by BabyBoy

this question is hard cuase it really depends on your situation, filling status, salary...etc...


you can't compare....



i agree. everybody's financial situation is different so to guess whether a refund is too little is impossible. but to answer the question, we both claim single zero, use every pre-tax benefit we can and donate a sizable amount to charity and we only got back what i overpaid in social security only to hand it right over to the state/city. next year is going to be a lot worse so ANY refund sounds good to me!

ETA: no kids, no house here either!

Message edited 3/21/2006 9:03:36 PM.

Posted 3/21/06 7:52 PM
 

WoodIAm
My Boys!

Member since 5/05

5498 total posts

Name:
JoAnne

Re: tax question how much are you getting back-if you dont mind me asking

We've got no children and no house. We're lucky if we break even. Chat Icon

Posted 3/21/06 8:02 PM
 

~Colleen~
my loves...

Member since 5/05

9129 total posts

Name:
guess

Re: tax question how much are you getting back-if you dont mind me asking

Getting back? LOL

No kids, no house...we owe.

A lot. Chat Icon

Posted 3/21/06 8:13 PM
 

hazeleyes33
LIF Adult

Member since 5/05

13060 total posts

Name:
Ginger

Re: tax question how much are you getting back-if you dont mind me asking

We have 2 kids and a house and got between $2-$3,000. Before the kids we got nothing back. We used to owe before we had the house.
I would rather have the money in my pocket every week than the gov't holding it until tax time.

Posted 3/21/06 8:14 PM
 

DjPiLL

Member since 5/05

3664 total posts

Name:
Richard

Re: tax question how much are you getting back-if you dont mind me asking

Posted by pmpkn087

Posted by Sassyz75

Posted by raken40

i just want to get an idea...our accountant is taking f o r e v e r
and says he thinks we're only getting back $900...doesnt sound right.
I claim 1,
my dh claims 0

and we've had a house since august, so between the interest on that and closing costs...

does this sound right? Chat Icon



Either you get money back at the end of the year, or you have the money in your paycheck throughout the year.

There is no 'free money'.

Better to have the money in your paycheck weekly.

Why give the feds an interest free loan???



Dina, I feel the same exact way. I would hate to overpay





Yeah it makes no sense really to overpay. Its an interest free loan to the government. This is why I modified my deductions a few months ago because I was anticipating a huge refund.

I could have made more deductions to have them take out less taxes... but I don't want to overdue it and end up oweing.

If I get a huge refund again next year... i'll increase my deductions.

Posted 3/21/06 8:35 PM
 

MommaG
Yay Spring!

Member since 5/05

5133 total posts

Name:
Gloria

Re: tax question how much are you getting back-if you dont mind me asking

We have a house, and a child, and we have to pay - federal and state - a lot!!!

Posted 3/21/06 8:40 PM
 

phoenix913
LIF Adult

Member since 5/05

3034 total posts

Name:
V

Re: tax question how much are you getting back-if you dont mind me asking

i was beginning to think i was the only one not getting a refund. i'm in the no kids, no house, owe money boat. it *****.

Posted 3/21/06 8:59 PM
 

Buttafli1277
LIF Adult

Member since 8/05

2638 total posts

Name:
Jennifer

Re: tax question how much are you getting back-if you dont mind me asking

Basically it depends on alot of things:

Tax Bracket (Home much you bring home in your paycheck)
What you claim 0, 1
If you own a house
Have kids
Have student loans.


Posted 3/21/06 9:14 PM
 

CAJ
woulda, coulda, shoulda

Member since 12/05

3366 total posts

Name:
CJ

Re: tax question how much are you getting back-if you dont mind me asking

Too Much...Chat Icon

Posted 3/21/06 9:27 PM
 

HarleyGirlFLA
Come on in

Member since 5/05

9674 total posts

Name:
Mel

Re: tax question how much are you getting back-if you dont mind me asking

Gotta love the state of FL.....

Chat Icon Chat Icon Chat Icon Chat Icon

wish we were getting more

Posted 3/21/06 9:40 PM
 

PiyoPika566
talk to the hand

Member since 5/05

1436 total posts

Name:
Stephanie

Re: tax question how much are you getting back-if you dont mind me asking

what I don't understand is.. I had to pay $350 for 2004, but in 2005 I am obviously making more money and I am getting 2k back... granted we bought a house, but we closed at the end of December, so I am not sure if that has anything to do with it, or the closing fee we paid.... to me, it doesn't make any sense, but I am not complaining because I ain't paying the gov more $ Chat Icon

Posted 3/21/06 9:44 PM
 

boosh1002
We like hanging together!

Member since 5/05

5475 total posts

Name:
Mommy to twins

Re: tax question how much are you getting back-if you dont mind me asking

This is the first year we actually owed money. We paid about $500 between city and state. We usually got back between $1,500-$2,000.

Posted 3/21/06 9:53 PM
 

monkeybride
My Everything

Member since 5/05

20541 total posts

Name:

Re: tax question how much are you getting back-if you dont mind me asking

About 4k. Apparently having a baby did squat for us.

Posted 3/21/06 9:53 PM
 

dm24angel
Happiness

Member since 5/05

34581 total posts

Name:
Donna

Re: tax question how much are you getting back-if you dont mind me asking

Posted by monkeybride

About 4k. Apparently having a baby did squat for us.



Chat Icon Chat Icon
4K is NOT squat in my opinion.

We have no house, and no kids...We only have my tuition to deduct...we are getting $300 back from Fed...and Owe the state....

Posted 3/21/06 9:57 PM
 

CunningOne
***

Member since 5/05

26975 total posts

Name:

Re: tax question how much are you getting back-if you dont mind me asking

We ended up having to pay the State Chat Icon , but we got enough back in federal to get a new heating and central AC system installed in our house next week! Chat Icon

Posted 3/21/06 11:14 PM
 

CkGm
They get so big, so fast :(

Member since 5/05

13848 total posts

Name:
Christine

Re: tax question how much are you getting back-if you dont mind me asking

You don't want a BIG refund- that means the govt has had your money, interest free loan from you, all yearChat Icon

Breaking even, or owing just a little bit are the best way to goChat Icon

Posted 3/21/06 11:19 PM
 

Scotty-CassidysMom
and Dylan too!

Member since 5/05

4331 total posts

Name:
Stacy

Re: tax question how much are you getting back-if you dont mind me asking

We got about 5,500

Posted 3/21/06 11:25 PM
 

raken40
soooo in love:)

Member since 5/05

4369 total posts

Name:
Karen

Re: tax question how much are you getting back-if you dont mind me asking

well, we finally got the info back from our acct. verbally anyway, we'll get the paperwork on thursday..
It just doesnt seem right what we are getting back.. I thought for sure we'd be getting back a few thousand..
hmmm.
How on earth do you have to owe money to the state after paying so much taxes and whatever throughout the year????? Chat Icon Chat Icon Chat Icon arrrrrrrrrrrhhhhhh..
thank you...needed to vent....Its 6:30am, and i think i need a drink already! Chat Icon Maybe i'll spike my coffee !

Posted 3/22/06 6:29 AM
 

KaRiSsA
~*~*~*~*~*~*~

Member since 5/05

4646 total posts

Name:
KARISSA

Re: tax question how much are you getting back-if you dont mind me asking

We have a house and both claim 0. We got $8200.

Posted 3/22/06 6:30 AM
 

MommyofG
just the girls

Member since 5/05

9461 total posts

Name:
Janice

Re: tax question how much are you getting back-if you dont mind me asking

Posted by CkGm

You don't want a BIG refund- that means the govt has had your money, interest free loan from you, all yearChat Icon

Breaking even, or owing just a little bit are the best way to goChat Icon

Agreed!!! we owe in total for state and fed around 1500 , we own a house, no kids, DH claims 3 and we both also file W9 (No taxes are taken out of our paychecks at all Nada- DH gets 2 checks 1 on salary where he claims 3 and his commission on a w9- tax free) So having the money in OUR pockets than theirs, NOT paying tax on MOST of our income and paying them 1500- walk in the park!!
edited to say you need to open up your own business with the state to do the W9 AND have a job where you can make your own hours and give an invoice for your services for payment AND if also getting commision your job to agree to do this.

Message edited 3/22/2006 9:37:50 AM.

Posted 3/22/06 9:35 AM
 

dandr10199
Grace is growing up too fast!

Member since 10/05

11561 total posts

Name:
Dina

Re: tax question how much are you getting back-if you dont mind me asking

Posted by CkGm

You don't want a BIG refund- that means the govt has had your money, interest free loan from you, all yearChat Icon

Breaking even, or owing just a little bit are the best way to goChat Icon



I agree as well. We see our accountant in a week. Nothing like waiting until the last minute! Chat Icon

Posted 3/22/06 9:41 AM
 
Pages: 1 [2]
 

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