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Do students kinda get shafted?

S

Soybomb

Diamond Member
You know everyone is excited about the upcoming tax refunds, I'll bet that many don't realize that people who are claimed as dependants will get no refund. I'm feeling kinda shafted about that. As a student living at home then even I was struggling to make my $6k of taxable income for the year stretch out. Then I have to pay taxes on it. Then I don't even get a refund when everyone else does? Why not? I shorted myself a deduction by being a dependant already, but then I don't get the refund that others do even though I pay taxes too. Not quite fair to me. I want money 😀
 
I'd thought you'd get a refund even if you're claimed as a dependant as long as you filed a return yourself?
 
Ideally, your parents will make more money claiming you as a dependent then you would get back if they didn't. Something like that. All I know is, as long as mom and dad are paying most of the bills, they do as they like. 🙁
 
rofl

That pic of George with that goofy grin placed right above the caption

"Sorry, no rebates for dependents"

is hilarious 😉
 
Don't feel bad. I think alot of people are gonna be real surprised when they get their checks this summer. I read somewhere that 50% of the people won't even get half of the amount that their touting for the refunds. Some people will only see about a quarter of that. People see the $300, $500, and $600 amounts in the media, but don't realize that this is under optimum conditions. The people who will receive these full amounts are the people making the most money who are at the top of the income scale for their respective groups. If you only make $6K or less, you won't be seeing very much. Remember, "people who pay the most taxes get the most relief" with this plan. If you're making next to nothing and paying next to nothing, don't count of getting hardly anything back.
 
You are scheduled to get a rebate of $300
the week of July 30

BOO-YA!

Thanks for the linkage, Soybomb.
 
Soy, look at this way. It could be worse for ya. My gross pay was a little over 37K last year.

After the government was done raping and pillaging, I had about 23K left.
 
shifrbv
"If you're making next to nothing and paying next to nothing, don't count of getting hardly anything back. "

Duhhhh or however you spell that.

If you don't pay $300 in taxes, how can you get a $300 refund?



 
that no rebates for dependents stuff is bullsh*t. I was claimed by my parents, however, even with the standard decuction, and my parents claiming me, I made over 10,000 dollars and paid taxes on what wasn't exempt, and my refund in april was a lot less than I paid total. I think that the tax calculator is wrong though.
 
Ok so I totally screwed up on my I9 form.

I filed myself as "Head of Household" when I should have filed myself as a dependent.

Anyone know how to change this?
 
Kiplinger.com--->
"And if you were claimed as a dependent on anyone else's tax return in 2000 -- even if you earned more than $4,400 and filed a return of your own -- you won't get a refund. This disappointing catch will largely affect working high school and college students."
---------------------


that is bull. I paid taxes, Bush said, "Every american who pays taxes will get a refund." Now, I read that I don't get a refund.
 
Do students get shafted? Not as much as people who work for a living.

How much did you pay in taxes last year?

I paid somewhere on the order of $35,000. I get the same services as you do from government. Do you think you deserve a bigger break than I do?

Sit down sonny and do your homework.
 
Darn. Oh well, I guess I'll have to pay for books another way.

It's bad enough we can't get the tax credit for students. My parents were cool and gave me what it offset their refund by. I know many a parent that wouldn't though.
 


<< Come to Canada, that'll solve AAAAAAAAAAALLLLL your tax problems >>



Elita1 - We have some friends that both times they purchased houses in the suburbs of Montreal they were charged a &quot;welcome tax&quot; at closing. That is one heck of a welcome! :Q
 
I should get my well deserved $300 back the week of July 23rd. Not bad, not bad at all. Of course, it should have been more like $10,000 back, but hey, this is the first time in my memory that the people actually got $$ back (instead of the usual shell game the politicians play).
 


<< The people who will receive these full amounts are the people making the most money who are at the top of the income scale for their respective groups. >>


Well, I guess I fall in that category because I'm expecting $600 in August. That expectation was confirmed by my mother-in-law tax accountant.

I love ya, Dubya! 😀

Oh, and just to prove the theory correct, I'm probably using that to help buy a new car. I'll do my part to stimulate the economy.
 
that's weird - i've always been claimed as a dependent and have worked since I was 16, always file my own return and always get a refund...
 
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