EA CO AS From United States of America, joined Nov 2001, 14857 posts, RR: 60 Posted (8 years 4 days 19 hours ago) and read 2283 times:
My wife and I just had our taxes done, and since we're used to living on what we make claiming "single" and 1 deduction, we've not changed our W-4s since we got married.
Consequently, we're getting a REALLY nice refund this year!
So how 'bout it, American a.nutters - are you paying Uncle Sam this year, or is he writing you a check?
Disclaimer - I know it's like giving the government an interest-free loan, but I view it as a 'forced savings account' if you will, one that we can't just blow on frivolous stuff throughout the year (and we would) - so now each year we use our anticipated refund for home improvement projects.
"In this present crisis, government is not the solution to our problem - government IS the problem." - Ronald Reagan
While I have to make my income tax declaration over here in Germany, seeing the recent cutbacks in allowances, I suspect that I will have to pay my government a few € (lower 3-digit figure) apart from the €€€€€ they already had received throughout the year.
Statements from savings account usually come in March/April or so - so I will be able to make my income tax declaration only by then. Legally I have to submit it by end of May. Of course, my submission is done online, but some accompanying papers need to be sent by mail anyhow.
Edit: Added one "€" as the monthly income tax deduction sums up to a 5-digit figure.
[Edited 2008-02-05 03:23:31]
Carpe diem ! Life is too short to waste your time ! Keep in mind, that today is the first day of the rest of your life !
AirCop From , joined Dec 1969, posts, RR:
Reply 5, posted (8 years 4 days 12 hours ago) and read 2238 times:
Well I was going to owe, but CALPERS just informed me, under Pension Protection Act of 2006, a retired public safety officer can exclude from federal gross income up to $3,000 annually for retirement plan benefits paid directly to an insurer as qualified health insurance or long-term insurance premium. So suddenly its a little bit of a refund time..
Quoting ANCFlyer (Reply 4): Not much this year though, I generally break even through withholding and other payments. I'll owe @ US$116.00 this year, after paying in over US$25K in 2007.
Did you pay back your loan shark (or would that be a polar bear) before he broke any bones?
DesertJets From United States of America, joined Feb 2000, 7879 posts, RR: 14
Reply 9, posted (8 years 4 days 11 hours ago) and read 2217 times:
I've been getting back more or less the same amount every year, roughly $500 so my withholdings on my payroll were more or less right. But now that I am back in school again I was able to qualify for the $2000 Lifelong Learning Credit which gave me a healthier than average return. Guess I will spend the $2k on educational expenses.
Stop drop and roll will not save you in hell. --- seen on a church marque in rural Virginia
ThreeIfByAir From United States of America, joined Aug 2007, 1024 posts, RR: 0
Reply 13, posted (8 years 4 days 1 hour ago) and read 2141 times:
$311 refund on the way! I always use direct deposit, so the money is mine within 2 weeks usually (I can't imagine why anyone would take a check, unless you don't have a bank account, in which case I can't imagine why you don't have a bank account). I'll "stimulate" the economy by using it for my last set of textbooks in March.
N174UA From United States of America, joined Jun 2006, 994 posts, RR: 0
Reply 18, posted (8 years 3 days 2 hours ago) and read 2090 times:
I did mine and filed about a week ago. $3500 on the way to me, should see it on the 15th. Between mortgage interest, school loan interest, 401k contribution, real estate taxes, education deduction ($4k) I'm sitting pretty.
I'll be banking the whole thing. I've been wanting to have 3 months of living expenses put away in an emergency, so I'll be about halfway at that point.
Now, my refund for the economic stimulus will be buying me a Wii and Guitar Hero! It should be here in early June, right about the time I finish my Masters degree. Oh what fun summer will be!
Steeler83 From United States of America, joined Feb 2006, 9381 posts, RR: 16
Reply 21, posted (8 years 2 days 8 hours ago) and read 2040 times:
I hope I get a refund this year. For the last few years I have gotten refunds. For 2007, I made over $7 grand from my internship and the Eden Resort collectively. Then I finished school, then closed out 2007 by braking my ankle. Right now, I have no means of income. I am trying to find a job. The last thing I need right now is to find out that I still owe Uncle Sam money I don't even have.
I am worth less than dirt!
Do not bring stranger girt into your room. The stranger girt is dangerous, it will hurt your life.