How much of my paid taxes will I get back?

[clamum]

Originally posted by: Casawi

Originally posted by: clamum
I dunno, but I have this to say:


Prrrrrrrrr

You can get fired for being drunk at work Clamum

Hahahah :laugh:

Ahem.

 

[alkemyst]

Originally posted by: Xavier434

Originally posted by: alkemyst
Penalized is the right word. You withhold too little during the year and you are subject to a penalty whether you pay on time or not. Also like I said though, most don't have a few grand lying around to cut a check to the IRS in April. They will talk about investing their 'savings' and all that but in the end they have spent it.

For most americans the tax differences do not add to a significant investment.

Wait a second. I just thought that if you withhold too much (whether it be on accident or intentional) then you simply have to "pay your taxes" once you file. That's considered a penalty? Are you charged more than you would have had to pay if you withheld an acceptable amount?

If you withhold too little (this is not about overpaying) there is a formula in every tax publication that will weigh the taxes owed vs another amount. If you fail the test there is a penalty assessed.

 

[EagleKeeper]

Originally posted by: Casawi
If I buy a home not in the US, can I still claim that interest ?

Thanks for all the info, I am really unfamiliar with this topic, and I don't want to get owned in the future if I already messed up this year.

No

Originally posted by: Casawi
F8ck I guess I claimed 1... how is this affect this whole scenario ?

AGAIN for those still wondering why I don't pay SS and Medicare is because of a treaty between Morocco and the US that I don't pay that for the first 5 years working in the US. I also get to make the first few thousands of dollars (I think like 3K) tax free.
I have to pay SS and Medicare next year don't worry.

I can't imagine I have to pay more taxes, they take ~$1020 from my check each month !!!! I am really in deep shit if I have pay in comes April.

Claiming 1 will make you come out fairly even.

 

[SSSnail]

OK, so all this tax talks. If I don't have any deductions, how or what can I do to NOT pay taxes (too much of it).

 

[spidey07]

Originally posted by: SSSnail
OK, so all this tax talks. If I don't have any deductions, how or what can I do to NOT pay taxes (too much of it).

Nothing. You get the standard deduction.

Buy a house, make some babies. Then you can start raking in the deductions.

 

[Ns1]

Originally posted by: SSSnail
OK, so all this tax talks. If I don't have any deductions, how or what can I do to NOT pay taxes (too much of it).

make less money

 

[Xavier434]

Originally posted by: spidey07

Originally posted by: SSSnail
OK, so all this tax talks. If I don't have any deductions, how or what can I do to NOT pay taxes (too much of it).

Nothing. You get the standard deduction.

Buy a house, make some babies. Then you can start raking in the deductions.

That or start your own business and research the tax loop holes. Other than that, you have to deal with it.

 

[SSSnail]

Originally posted by: Xavier434

Originally posted by: spidey07

Originally posted by: SSSnail
OK, so all this tax talks. If I don't have any deductions, how or what can I do to NOT pay taxes (too much of it).

Nothing. You get the standard deduction.

Buy a house, make some babies. Then you can start raking in the deductions.

That or start your own business and research the tax loop holes. Other than that, you have to deal with it.

Well, that's been done for the last three years, that's by having my own business and at a loss. Next year I won't have anything to claim loss on.

 

[spidey07]

Originally posted by: Xavier434

Originally posted by: spidey07

Originally posted by: SSSnail
OK, so all this tax talks. If I don't have any deductions, how or what can I do to NOT pay taxes (too much of it).

Nothing. You get the standard deduction.

Buy a house, make some babies. Then you can start raking in the deductions.

That or start your own business and research the tax loop holes. Other than that, you have to deal with it.

Or claim your gambling "losses"
:evil: