man i hate taxes...
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From: pompous douchebag
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claiming 0 witholds the most ammount of money each paycheck. 1 witholds less, 2 even less, etc... claiming 0 is basically the way to maximize your refund, but at the cost of lower paychecks. claiming 1 would have resulted in owing even more money at tax time.
turbotax is generally pretty accurate for simple filings. even with mortgage interest, multiple jobs, marraige, dependants, etc... turbotax can handle all that.
turbotax is generally pretty accurate for simple filings. even with mortgage interest, multiple jobs, marraige, dependants, etc... turbotax can handle all that.
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From: Rocklin, CA
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Originally Posted by RussB
claiming 0 witholds the most ammount of money each paycheck. 1 witholds less, 2 even less, etc... claiming 0 is basically the way to maximize your refund, but at the cost of lower paychecks. claiming 1 would have resulted in owing even more money at tax time.
But what do I know, I've never paid any federal tax, gotten all I've paid back every year sense 1994
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From: pompous douchebag
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Originally Posted by Pleiades
Any time you get a refund your giving the gov't an interest free loan. Its better to have to pay more come tax time. Time value of money - money you have today is worth more than money you have tommorow due to inflation and that you could have invested that money and gotten a return on it.
But what do I know, I've never paid any federal tax, gotten all I've paid back every year sense 1994
But what do I know, I've never paid any federal tax, gotten all I've paid back every year sense 1994
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From: Green Mountain Top Above A Green Forest
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Originally Posted by surfer5567
and being single. i friggin HAVE TO PAY over 1k to the govt AGAIN this year. last year i had to pay 1.5k!!!! its ridiculous and unfair. and i was hoping to get my bike painted 
oh and thats withholding 0 on my paycheck too...
oh and thats withholding 0 on my paycheck too...
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Originally Posted by surfer5567
i used turbo tax to do my taxes. i havent filed yet but thats what its lookin like im goin to have to pay. 1k to the govt. and 200 to the state.
Your single and claiming 1 you should be getting that much back as a refund your doing something wrong.
go to H&R Block and get your paper work done I bet you get a nice refund, they can go back and redo your last years too and get you a refund for that years too if there was any mistakes on that paperwork.
if your making over 60k a year you should buy a home or get in a 401k or IRA to get some writeoffs.
i hate to see a fellow iclubber in trouble. my family has a tax business and my mom is the best tax person that you can possibly goto. im not saying this to get more people to come do taxes with us, we get enough business as it is. im just saying this as to help you out. i can garundamntee you that you will not be dissapointed if you decide to get your taxes done with us for a change. there are plenty of people that can vouch for us on that. Turbo Tax is a ****ty program and H&R Block overcharges and dont do ****. if your interested shoot me a pm.
Since this year will be my first year with a full time job and all that, i wonder how my taxes will go next year.
I'm going to file in a few days, i expect like $500 back or something like that.
-Gagan
I'm going to file in a few days, i expect like $500 back or something like that.
-Gagan
Originally Posted by Pleiades
Any time you get a refund your giving the gov't an interest free loan. Its better to have to pay more come tax time. Time value of money - money you have today is worth more than money you have tommorow due to inflation and that you could have invested that money and gotten a return on it.
But what do I know, I've never paid any federal tax, gotten all I've paid back every year sense 1994
But what do I know, I've never paid any federal tax, gotten all I've paid back every year sense 1994
I have friends that use the "giving the gov't an interest free loan" line with me too, but I mean - what is a couple DOLLARS over all the other crap that happens? Think about it - let's say you get $200 back. Let's say you would have earned 5% with that money in savings. You just gave the gov't the potential to earn $10. Woop tee doo.
Lets say you would get as much as $1k back - that would be a possibility of earning $50.00 for that year. To me, it's not really worth it since that will barely buy a tank of gas... Since we have to do taxes anyway, I can have one less thing to stress about by simply getting a small refund at the end of the year.
Originally Posted by WREXNFX
There is your problem Turbo tax sucks
Your single and claiming 1 you should be getting that much back as a refund your doing something wrong.
go to H&R Block and get your paper work done I bet you get a nice refund, they can go back and redo your last years too and get you a refund for that years too if there was any mistakes on that paperwork.
if your making over 60k a year you should buy a home or get in a 401k or IRA to get some writeoffs.
Your single and claiming 1 you should be getting that much back as a refund your doing something wrong.
go to H&R Block and get your paper work done I bet you get a nice refund, they can go back and redo your last years too and get you a refund for that years too if there was any mistakes on that paperwork.
if your making over 60k a year you should buy a home or get in a 401k or IRA to get some writeoffs.
i made just under 38k. i have both an ira AND 401k. still with those, i have to pay. its pissin me off.