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How much did YOU get back on your taxes?

W

wyvrn

Lifer
I almost fell out of my chair when I had finished calculating my taxes this year. Tax Cut screen reported that I owed $0 in taxes. That's right, $0. So my wife and I are getting >$5000 back from the IRS.

Why? Well we had a child, depreciate rental property, get to write off student loan and mortgage interest and taxes, and I get to write off what I paid for school this year. End result is that we get what we paid back, AND the govt gives us a $337 additional tax credit for our child. Since we paid ~$650 for medicare this year, our total tax bill was ~$330. Whoopee!
 
I get $2300 Fed/$420 state back

-i claimed 5 dependants on state and federal all last year 🙂
 
I prefer to not give the money to the government in the first place, and therefore try to keep my refunds small. So I was surprised to see that I'd be getting almost $1000 from federal, but need to pay a tiny amount (about the cost of a music CD) to state even though the number of deductions is the same for both. Guess MN's monthly tax withholdings are a bit more accurate than the fed's. If I hadn't adjusted my federal deductions and was still claiming 0, then I'd probably be getting back almost as much as the OP.
 
Well we wouldn't get back that much except for all of the deductions and credits we get. I need to tell my wife to adjust her monthly withholding for the baby, but we would still have to pay a great deal of tax and just get it refunded every year.
 
Worst tax year ever for me. $170 Fed / $130 MN State / $61 MN Property Tax Refund (Renter's Credit)

My Girlfriend who made $15K less than me = $700 Fed / $350 MN State / $333 MN Property Tax Refund (Renter's Credit)

The more you make, the more they take. I don't get it, I would think the 21% of my check they take every 2-weeks would entitle me to something. 😕
 
Me and the wife (are not married) are getting back 8232.00 this year...

single filing seperately...not claming child tax or add'l child tax but i'm getting eic on 2 =4984 she is claiming 1 no eic=3248

and we both add 20.00 a week to federal throughout the year
...no deductions

mike
we have been together almost 6 years-no plans to get married yet...but plan on growing old together
 
My taxes for the first time i can remember went down this year 12.5% from last year on roughly the same household income. No new deductions like kids or anything. Seems My wife and I didn't get slapped with the marraige penalty on the first 56k+ of income this year. bout time they got rid of that. I am like last years tax reforms more an more.
 
So what wyvrn's saying is that his family is a bunch of leeches and a drag on society. No wonder my tax bill for 2003 was over $25,000. :disgust:
 
Originally posted by: JoeMomma
So what wyvrn's saying is that his family is a bunch of leeches and a drag on society. No wonder my tax bill for 2003 was over $25,000. :disgust:
Click to expand...
rolleye.gif
 
Originally posted by: JoeMomma
So what wyvrn's saying is that his family is a bunch of leeches and a drag on society. No wonder my tax bill for 2003 was over $25,000. :disgust:
Click to expand...

What's your real nic?

If you call getting an education and owning investment real estate being a leech, then I guess so. My education will raise my overall income, which will mean less chance we go on welfare. The investment property also means much less chance of going on welfare. And having a child is the single most beautiful act on this earth.
 
haven't filed yet, but I am guessing I'll have to pay more since it's always been like this. I think my employer is not deducting enough or something.
 
Originally posted by: wyvrn
Originally posted by: JoeMomma
So what wyvrn's saying is that his family is a bunch of leeches and a drag on society. No wonder my tax bill for 2003 was over $25,000. :disgust:
Click to expand...

What's your real nic?
Click to expand...
JoeMomma, can't you read?

If you call getting an education and owning investment real estate being a leech, then I guess so. My education will raise my overall income, which will mean less chance we go on welfare. The investment property also means much less chance of going on welfare.
Click to expand...
True, in the sense that being on welfare is even more leech-like than not paying any taxes.
And having a child is the single most beautiful act on this earth.
Click to expand...
In your opinion. Which I really have no problem with, my gripe is that the biggest consumers of government funded resources are the least likely to be the ones paying for their consumption.

Somehow I managed to pay for my education without getting any tax breaks. I also managed to build a successful business without any tax breaks.

Don't get me wrong, take advantage of any tax breaks you can get - I certainly do. Enjoy them while you can, as you get more successful it gets more difficult to shield your income. People making between about $150k and $400k really get the shaft.

 
Somehow I managed to pay for my education without getting any tax breaks. I also managed to build a successful business without any tax breaks.

Don't get me wrong, take advantage of any tax breaks you can get - I certainly do.

So which is it?
 
When I went to school there were no education-related tax breaks available. And there are still no tax breaks available for white guys from the suburbs to start businesses.

I'm not b!tching about you - it's the rediculous tax laws that p!ss me off.

 
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