EA CO AS From United States of America, joined Nov 2001, 12559 posts, RR: 64 Posted (5 years 3 months 2 weeks 2 days 5 hours ago) and read 1257 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
HT From Germany, joined May 2005, 6471 posts, RR: 27 Reply 1, posted (5 years 3 months 2 weeks 2 days 4 hours ago) and read 1255 times:
Quoting EA CO AS (Thread starter): are you paying Uncle Sam this year, or is he writing you a check?
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.
-HT
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 !
KC135TopBoom From United States of America, joined Jan 2005, 11706 posts, RR: 52 Reply 2, posted (5 years 3 months 2 weeks 2 days 4 hours ago) and read 1250 times:
Even though I am in the 28% tax bracket, I will be getting a refund from the IRS this year.
LH423 From Canada, joined Jul 1999, 6501 posts, RR: 55 Reply 3, posted (5 years 3 months 2 weeks 1 day 23 hours ago) and read 1229 times:
I'll be getting a small refund from the gov't, in the region of around $150 since I only worked over the summer. That's a bit of a change from the $450 I got the year before.
LH423
« On ne voit bien qu'avec le cœur. L'essentiel est invisible pour les yeux » Antoine de Saint-Exupéry
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.
Next year, that'll all be different. New Mortgage, new wife, new kids (read those: tax deducations )
AirCop From , joined Dec 1969, posts, RR: Reply 5, posted (5 years 3 months 2 weeks 1 day 22 hours ago) and read 1212 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, 7673 posts, RR: 18 Reply 9, posted (5 years 3 months 2 weeks 1 day 21 hours ago) and read 1191 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
KhelmDTW From United States of America, joined Jun 2007, 269 posts, RR: 0 Reply 10, posted (5 years 3 months 2 weeks 1 day 18 hours ago) and read 1165 times:
Refund.
For me, it was about 7% of what I make. No deductions, no donations on record. All in all, not too bad. However, I would like some deductions, maybe I should call that chica I met in Mexico
I did manage to not have to pay taxes on my computer that I purchased out of state, God its nice having a relative thats a CPA.
Next year should be really good. More income and student loan interest.
FXramper From United States of America, joined Dec 2005, 7023 posts, RR: 93 Reply 11, posted (5 years 3 months 2 weeks 1 day 18 hours ago) and read 1162 times:
I do owe, but my Super Bowl winnings will just about cover it. I'll be in the plus once Uncle Sam sends me that $600 stimulus check.
Aaron747 From Japan, joined Aug 2003, 7630 posts, RR: 28 Reply 12, posted (5 years 3 months 2 weeks 1 day 12 hours ago) and read 1129 times:
Owing to living overseas and making under 80K, I'm happy to report I owe Uncle Sam absolutely nothing. And I received a refund for $2200 from the Japanese government last December.
If you need someone to blame / throw a rock in the air / you'll hit someone guilty
ThreeIfByAir From United States of America, joined Aug 2007, 509 posts, RR: 0 Reply 13, posted (5 years 3 months 2 weeks 1 day 11 hours ago) and read 1115 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.
SAN787 From United States of America, joined Jun 2007, 616 posts, RR: 1 Reply 14, posted (5 years 3 months 2 weeks 1 day 11 hours ago) and read 1108 times:
5 Feb...and still waiting on my 1099-MISC. However, Sammy's got a few Gs with my name on it. Saving it for grad school.
KC135TopBoom From United States of America, joined Jan 2005, 11706 posts, RR: 52 Reply 15, posted (5 years 3 months 2 weeks 1 day 6 hours ago) and read 1098 times:
Quoting ANCFlyer (Reply 4): I'll owe @ US$116.00 this year, after paying in over US$25K in 2007.
You da' man
Quoting ANCFlyer (Reply 4): Next year, that'll all be different. New Mortgage, new wife, new kids (read those: tax deducations )
No, No, Don't do it There are better ways to reduce your taxes, cheat.
Or just say the IRS cannot tax you, Wesley Snips did (of course he is getting 3 to 5 years in an all expenses paid US Government "resort")
Quoting FXramper (Reply 11): I'll be in the plus once Uncle Sam sends me that $600 stimulus check.
RW170 From United States of America, joined Sep 2007, 430 posts, RR: 0 Reply 16, posted (5 years 3 months 2 weeks 1 day 1 hour ago) and read 1088 times:
RJdxer From , joined Dec 1969, posts, RR: Reply 17, posted (5 years 3 months 2 weeks 22 hours ago) and read 1080 times:
Sold my bank stocks before they took a dive and used that money to finance some around the house projects and my daughters college so this year, owing to captial gains, we will have to pay.
N174UA From United States of America, joined Jun 2006, 993 posts, RR: 0 Reply 18, posted (5 years 3 months 2 weeks 12 hours ago) and read 1064 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!
RayChuang From United States of America, joined Jun 2000, 7694 posts, RR: 5 Reply 19, posted (5 years 3 months 2 weeks 11 hours ago) and read 1057 times:
I'm getting US$827 back from IRS and California FTB refunds. Thinking about getting a clock radio/iPod docking station and banking the rest.
Steeler83 From United States of America, joined Feb 2006, 8804 posts, RR: 19 Reply 21, posted (5 years 3 months 1 week 6 days 18 hours ago) and read 1014 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.
SNCntry32 From United States of America, joined Jan 2007, 1511 posts, RR: 0 Reply 22, posted (5 years 3 months 1 week 6 days 13 hours ago) and read 997 times:
Asuflyer05 From United States of America, joined Feb 2004, 2369 posts, RR: 3 Reply 23, posted (5 years 3 months 1 week 6 days 9 hours ago) and read 986 times:
I usually owe. Which is fine I'd rather owe than have floated Uncle Sam an interest free loan for the year.
EA CO AS From United States of America, joined Nov 2001, 12559 posts, RR: 64 Reply 24, posted (5 years 3 months 1 week 6 days 7 hours ago) and read 978 times:
Quoting Asuflyer05 (Reply 23): I'd rather owe than have floated Uncle Sam an interest free loan for the year.
Uncle Sam's giving me back nearly $8,300 and I'm perfectly okay with that.
"In this present crisis, government is not the solution to our problem - government IS the problem." - Ronald Reagan
25 Bablackpilot: I haven't done mine yet but I know I owe....Come to think of it, it's not the government that takes my money, it's back child support. At least I'm al
26 EA CO AS: Why can't you? It seems logical that if you're paying child support you can claim her as a dependent...
27 BCAInfoSys: Usually the parent with primary custody is the only one that gets to claim the child. It's becoming a major source of audits/fraud checking, at least
28 Airfoilsguy: My dad sent me this. Suppose that every day, ten men go out for beer and the bill for all ten comes to $100. If they paid their bill the way we pay ou
29 Iflyatldl: I did a rough draft today of mine-the usual, around $475.00 Fed refund and an annoying $ 87.00 pay to state. And I'll go ahead and crunch it, fix it a
30 BR715-A1-30: That's what I'm doing with my $1,200.00 refund... Lake Geneva, WI HERE I COME!!!
31 FXramper: My girlfriend is a 1st grade teacher and is getting a nice return back. She wants to take us on a trip - who am I to argue.
32 Airtrainer: Here in Belgium I "give" more than 40% of my monthly income but it isn't enough as I had to pay an extra € 1600 at the end of the year (and no, I do
33 DLPMMM: Looks like I am going to owe another $10,000 or so. Maybe it is time for me to look for a drinking hole somewhere overseas.
34 STT757: My Wife and I owe $6000, we got back $6,000 last year.
35 Duff44: $399 back from the feds, $342 back from the state of CT. Hopefully if I get a raise/promotion later this year, I'll be able to go back to claiming no
36 Dougloid: I did the preliminary run through today and it looks like I owe about $6,500. I've got two side businesses that have ot be tweaked so I expect to lowe
37 Steeler83: Aw man, that is rough! If you give that much (and I imagine that it's way more than what is required) then you should be entitled to something in ret
38 Dougloid: Update....got what I owe down to $4,412 and I'm going to file tomorrow. And me and the Dragon Lady do get the Federal Stimulizer package which is goin
39 Garnetpalmetto: Just filed with Turbotax and I'm looking to get $2,340 back from the Feds and $467 back from North Carolina. Out of curiosity - anybody who's used Tur
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