am i the only one not receving tax money this year?

[Scrub2k]

20 Years Old + Married + 1 Kid + Earned Income Tax Credit = $3900 Refund.....(too bad its all allready spend....but i do get a Budget Boost for the Jeep)

But im glad that i get any money back instead of like my brother and had to pay $2100.....but then again i would have loved to make $100K last year too

-Matt-

 

[Darky]

20 Years Old + Married + 1 Kid + Earned Income Tax Credit = $3900 Refund.....(too bad its all allready spend....but i do get a Budget Boost for the Jeep)

But im glad that i get any money back instead of like my brother and had to pay $2100.....but then again i would have loved to make $100K last year too

-Matt-

hijack: I'd recommend someone ther than RRO. Beefy shackles, but hard to make fit, BPEs don't fit, and CS sucks.

On topic: A friend of mine just had a baby in Nov, single mother, and she got back $3600. I can't wait to go get mine done. 22, married with child, wife isn't working, military, and renter's deduction...

 

[JohnJohn]

$541 a month at 6.9% with no match will net just over $188,000 in 15 years. On a matched investment, the net jumps to just over $358,000 in 15 years....which gives you $2740 a month post-retirement for 20 years until it's gone.

I love you.

 

[sidriptide]

...... and the fact that being an OTR truck driver I can deduct 40 bucks a day for every day I am gone.

how is that possible? you are online damn near every night? or do you play on a laptop??

 

[Bent]

Well, I waited till the very last moment this year. I knew I was going to have to grab my ankles, for a while. But I didn’t expect that horse to sneak up behind me! :helpme: Between the state and the federal I’m mailing off a little over $10k. Bon of a sitch, that was a big horse! I may never walk right again.

 

[thooogy]

... and renter's deduction...

Renter's deduction? Since when does the tax code allow an itemized deduction on a personal return for rent expense? Or is this a state tax thing?

 

[xjfrancis]

I think I am getting about 800 and I only made about 5 grand last summer, so im pretty happy!

 

[ColoCherokees]

The wife and I got screwed - both our employers didn't withhold enough so we had to write a $700 check instead of the $700 refund we got last year. Even if we were single, not enough was withheld to cover the tax individually.

My wife and I know we both claimed 0 on our W4s - would the IRS be interested in employers changing W4s without an employee's knowledge/consent? I can't imagine there's any benefit to the employer to withhold less tax through the year, is there? Just wondering if it'd be worth making a call to the IRS about it.

 

[thooogy]

ColoCherokees, I can't imagine any employer deliberately withholding less - there's no benefit, since they just remit it on your behalf. Keep in mind the withholding is based only on your W-2 wages, not on any other source of income / expense. Once you factor in interest, dividends, itemized deductions, etc it gets harder to wind up exactly even - that's why one taxpayer gets a $1,000 refund and another owes $1,000.

 

[ColoCherokees]

I didn't figure there'd be any benefit to the employer. But my former employer (small business owner) had a habit of doing things that affected employees without telling us. I also can see him screwing up how much he's supposed to withhold each check.

Not pissed about other folks getting big refunds, just that I've NEVER owed since I always claim zero on W4s, specially since our taxes are basic - no dividends, itemization, etc. Hell, even getting no refund would still have cheesed me off. I claim zero specifically to avoid writing a big check in April.

Just talked a former co-worker - he's in the same boat, claimed zero and still didn't get enough withheld to cover tax liability. I think the boss has been screwing around/screwing up. Time to talk to the IRS, I think. Guy deserves to have his finances examined anyway.

 

[Boatwrench]

In the 25 years I have been married, I've recieved exactly two refunds from the feds (none from the state) and it was the two years that I paid estimated taxes quarterly.

I don't mind paying taxes...really...My former civilian job was in public transit which was funded through taxes and now my military job is funded through taxes.

I am happy that the tax funded police, fire and ambulance service is available along with the interstate highway system I used to get to a tax funded county off-road park this afternoon.

This year after claiming M-0 I still needed to come up with $635 for the feds and $190 for the state.

Oh well. It's the cost of living in this country. Is there waste, heck yeah, is it better than other places with high taxes...better believe it.

 

[Art Triggs]

We ended up paying the Feds, but we get a little back from the State, we've only had one bad year where we owed a lot,over 3000, usually its les than 1000, it just means the government isnt making interest on your money......