Got my W2, Just did my taxes...

[JohnAn2112]

roughly 450 from federal and 70 from state.

 

[Mr. Lennon]

Originally posted by: CrazyDe1
I owe 35k...

:Q

 

[DoOLiE11]

no W2s in yet

 

[fallenangel99]

i owe $656 to feds, $156 to state

and i only started working sept. 2004 (graduated may 2004) and i live with parents!!

 

[Engineer]

Originally posted by: PrinceofWands

Originally posted by: Engineer

Originally posted by: Mookow

Originally posted by: wischeez

Originally posted by: moshquerade

Originally posted by: iamwiz82
Uhh... he is getting $6000 back afte paying only $1100. Sounds like the EIC at work.

thaz bullsh*t, too

No B.S , I've been doing my own taxes since 1973 and have never paid or had more than about $700 withheld every year by the Feds or the state. Always get refunds between $5000 and $7000.

I think she was saying that the EIC is "bullsh*t".

That's exactly what was being said. The "Robin Hood" effect. :Q

Hey, I don't know too many people that would rather get EIC because they earned 18,000 that year (which is the most you can earn and still receive maximum EIC credit btw), than just make 36k a year. The PROBLEM is that our society makes it near frigging impossible to earn that kind of money without a combination of location, luck, timing, and sacrifice...sometimes of things that should never be sacrificed. How much money a person makes has NOTHING to do with their intelligence, morals, work ethic, dedication, or anything else. It's a combination of them and society, and often it doesn't work out favorably.

Look at military people. You can be in a war zone, fighting for your country, and making so little that your family needs EIC and welfare assistance. How is that the fault of the soldier and not the government/society? Hell, up until a few years ago teachers in this state made so little each year that they earned EIC. So, they are incredibly bright, they care enormously about kids and society, they get a freaking Masters degree (at least), and they suck because they earn so little???

Meanwhile a bunch of drug using rapists get 30m a year for playing with their balls??? Or self-serving exploiters and criminals extort millions in government contracts to earn 10million while paying their employees so little that they are eligible for EIC. Just who do you think the bad guy is in those scenerios? It ain't the people earning the EIC, let me tell you.

It was a joke son, hence the :Q

But don't tell the pres. that.....looking at making people responsible for themselves including retirement, healthcare and taxes.

P.S. I know everyone can't make that kind of money, but a little education can help us all!

 

[Muadib]

Originally posted by: CrazyDe1
I owe 35k...

Self employed and didn't pay quarterly I'll bet. I just got my W2, and will do mine this weekend. I expect to be getting about 600-700 back though.

 

[CrazyDe1]

Originally posted by: Muadib

Originally posted by: CrazyDe1
I owe 35k...

Self employed and didn't pay quarterly I'll bet. I just got my W2, and will do mine this weekend. I expect to be getting about 600-700 back though.

Yeah...that's most of it. That and the fact that I thought I was going to be making a certain amount at my day job as I hadn't even started by other business yet and I took out a loan for a house that was 6 times my income at my day job so I had 5 or 6 exemptions when it ended up that I shoulda only taken 2.

 

[Rogue]

The wife and I just netted over $4,000 on our tax return today. We almost broke $100k this year combined (living in Kansas mind you, so that's pretty good money) and would have had to pay $1,000 back this year if not for our adoption. Granted, we're really just breaking even when you consider the attorney's fees, etc. that are tax write offs as a result, but it's nice to not pay for once.

 

[wyvrn]

My wife and I are getting back $1800. We took all exemptions possible on our W4's this year. The child credit, student loan interest credit, homeowner's interest credit, and lifetime learning credit really helped. Next year we don't get the LLC though, that's gonna hurt :-(

 

[coolred]

Originally posted by: Engineer

Originally posted by: coolred
3385.00 federal, 115.00 state=3500 smackers in my pocket. Well not really its either going towards a car or my credit cards.

Unless you need a car, the credit cards first.

Yeah I really do need a car, but it will still likely go towards my credit cards.

 

I don't know, I have a meeting with my accountant later this month.

 

[dakata24]

I owe $2000 this year.. *sob*

 

[jagec]

Originally posted by: DrPizza
Forgive me for my naivity, but, coming from a math perspective, wouldn't it be better to OWE money at the end of the year? Thus, you could invest even more in an interest bearing account. It'll be a while before I find out. I absolutely hate owing. This year we're getting back $5300 federal and almost $1000 state. However, calculating how much to have withheld varies widely each year... my deductions have varied widely the past few years with either my wife or me or both of us going to school, etc.

The best way is to have your job withhold NOTHING from your paycheck, deposit a lot of it into savings, and write the government a huge check every year. Most people aren't that disciplined, though. But even the undisciplined people should try to adjust things so that they get no refund...

Originally posted by: Rickten
its better to get the big lump sum at the end of the year than 200 bucks extra every month that would probably just get blown on food or something.

I'd certainly hope you don't spend $200 a month on food, being that $90 a month is enough for groceries, living cheaply.

 

[spacejamz]

filed feb 3 and refund of $3k was direct deposited on Feb 11...

just ran the numbers through to see what would happen if me and missus weren't married and it would have been closer to a $4.5k refund...

 

[MrDudeMan]

i cant believe people still think getting a huge return is a good idea. its like they think they are winning the lottery, but they are really super-retards and should have balanced their taxes correctly. you arent a super-retard if you are getting a return but you know its better not to, however.

 

[aeroguy]

I owe $450. Suck.

 

[bsobel]

The best way is to have your job withhold NOTHING from your paycheck, deposit a lot of it into savings, and write the government a huge check every year. Most people aren't that disciplined, though. But even the undisciplined people should try to adjust things so that they get no refund...

If you did this you'd most likely have to make estimated payments. If your that far off every year, there are penalties which start adding up.