TaxRefundSeason: So how much do you expect to get?

Sometimes it's not worth the headache and paperwork to get all of your money and not let the govt make interest off of you. Also, some folks aren't very good at sticking to a budget or not blowing extra money, so it's best for them to get one lump refund and put it towards something instead of wondering what they spent the extra $$ on throught the year.

I expect around $8K back....

 

How the hell are people pulling in thousands and thousands of dollars back? Do you let the government take extra?

 

You really don't want to get a large tax refund. If you do, you're having too much taken out of your paycheck, and your letting the Government borrow that money from you at 0% interest. It's better to take that extra money each month and put it into a money-market account and make 5% off of it. Let your money work for you, not the US Government.

 

Unless you own a business and you have no idea how much you'll make at the end of the year other than a best guess from the year before. Getting caught short just sucks to me.

 

You can let them take extra. You can have your own business and not know what your net gain or loss will be until the year ends. You can have a ton of deductions, etc.

I expect around $8K back. So the yearly interest for that is what, $400-$500 or so? And that is assuming I actually save all the money. I have a very detailed budget and I know where every penny I spend goes, but even I break my discipline every now and then and spend money that I shouldn’t. I know if I took the extra $ home I would probably save most of it, but not 100% of it.

Not to mention if you don’t have the extra money going into some type of tax free vehicle like a 401K then you are paying tax on it. Your refund is not taxed.

 

I would say check the BBB (Better Business Bureau) in your area and see what small CPA firms are in really good standing. I work for (what used to be) a small accounting firm and we would only charge a minimal amount for a tax return like yours... 25 bucks or the like.

For something as simple as yours, you could probably get away with using someone like H&R Block because there isn't much to it. Anyone that doesn't take the standard deductions I always recommend going to a CPA instead.

 

If you made around $35K then you can e-file for free. If you feel comfy answering questions and filling in a few amounts in a data form then I would do it myself.

Go here:

http://www.hrblock.com/taxes/partner/index.jsp?otpPartnerId=180

The site will just ask you some basic questions and you will enter your amounts in there. Since you aren't itemizing there are no extra corners to cut so you really don't need a professional.

 

none

this movie told me i don't have to file taxes


AMERICA: FREEDOM TO FASCISM
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I'm expecting quite a bit back due to the interest paid on my mansion and all of my charitable contributions. Probably more than many of you earn in a given year.

 

awesome. you can invest in some of these shirts

 

Thank you Trader_Jorge. I realize that the top 10% wager earners pay almost 90% of the taxes. So thanks to you...I can take advantage of government programs you pay for

 

I don't understand why people with kids get more back. I think it should be the other way around. The world is overpopulated as it is and I think you should be taxed extra for brining a child into this world, not rewarded.

 

Holy Cow...I just got my W-2 and plugged in the info. Looks like I'm getting $10-11k. I just need my sons tuition paperwork and I'm good to go!

 

Please Elaborate.

 

Because you seek to make it easier on those raising children....because when you make it harder on people who have kids, guess who suffers along with them?

I suppose I'd be for phasing it out after you meet a certain low threshhold of income. I don't need it, but I get it. But there are people out there raising kids on their own...that's not easy. Giving them some help is a good thing, I think.

I don't believe the child tax credit is an incentive to have children. The credit is $300/child right now. I promise you it costs a lot more than $300 to feed and clothe a child all year long. People aren't making money through the IRS by having kids. I don't believe taking away the credit does anything to the number of babies born in a tax year.

 

Quoted for truth.

 

Just finished...that's a cool $3k to put into the house fund.