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Done with your taxes .....

  • LJ
    WebFire wrote:
    j_crazy wrote: 8k back from federal.

    broke even on state
    How did you manage such a big federal return but break even on state? Something doesn't seem right.
    I'm gonna guess first time homebuyers credit?
  • Belly35
    BigAppleBuckeye wrote:
    Belly35 wrote: Last year I owed the IRA …
    Be careful Belly, I hear those guys are nasty when it comes to collecting their debts!



    I could only hope the IRA would come after me ... being Irish a few beers, show them my CCW card and tell them my last name ...They be giving me money.

    I must have been thinking about my next course of act when I type in IRA
  • Belly35
    What the hell..........9 paying and 21 getting back .... dam
  • jmog
    I figure my exemptions on my W-4 just about right every year.

    Between what I get back from federal and state and subtract what I owe to city...I net about $150 back.

    I pay a good share of taxes in my paycheck, but just work my exemptions so that the government doesn't get an interest free loan from my paychecks throughout the year.

    I drop that "extra" money in the savings account every 2 weeks. Its great to watch the savings account pile up throughout the year vs getting a big return at the end.

    The two options, the way I see it are...

    The government gets an interest free loan from me they pay back in March.

    I put the money in the back and get a few % interest throughout the whole year.

    When you look at it that way common sense says do what I (and many others apparently) do.
  • Chesapeake
    Got around 4,500.00 back which makes February and March every year kick ass.

    Went to Vegas and spent a grand total of 250.00 after flight and room.
  • queencitybuckeye
    Chesapeake wrote: Got around 4,500.00 back which makes February and March every year kick ass.

    Went to Vegas and spent a grand total of 250.00 after flight and room.
    Why wouldn't you have less withheld and throw it in something interest-bearing?
  • Chesapeake
    queencitybuckeye wrote:
    Chesapeake wrote: Got around 4,500.00 back which makes February and March every year kick ass.

    Went to Vegas and spent a grand total of 250.00 after flight and room.
    Why wouldn't you have less withheld and throw it in something interest-bearing?
    Hell, I dunno.

    Not much was withheld in 2009 anyway.
  • queencitybuckeye
    Chesapeake wrote:
    queencitybuckeye wrote:
    Chesapeake wrote: Got around 4,500.00 back which makes February and March every year kick ass.

    Went to Vegas and spent a grand total of 250.00 after flight and room.
    Why wouldn't you have less withheld and throw it in something interest-bearing?
    Hell, I dunno.

    Not much was withheld in 2009 anyway.
    It would appear that at least $4500 was withheld???
  • Chesapeake
    queencitybuckeye wrote:
    Chesapeake wrote:
    queencitybuckeye wrote:
    Chesapeake wrote: Got around 4,500.00 back which makes February and March every year kick ass.

    Went to Vegas and spent a grand total of 250.00 after flight and room.
    Why wouldn't you have less withheld and throw it in something interest-bearing?
    Hell, I dunno.

    Not much was withheld in 2009 anyway.
    It would appear that at least $4500 was withheld???
    About 100.00 in federal was withheld.

    Got 3,100.00 earned income credit for our son then some kind of 1,000.00 working bonus.
  • I Wear Pants
    Unemployed+living at home+college student= Not even thinking about taxes.
  • believer
    Thanks to an insanely high mortgage outlay my interest deduction yields me an $1,800 Fed refund check. I broke even on my Pennsylvania state taxes and the local boys owe me $52.
  • WebFire
    queencitybuckeye wrote:
    Chesapeake wrote:
    queencitybuckeye wrote:
    Chesapeake wrote: Got around 4,500.00 back which makes February and March every year kick ass.

    Went to Vegas and spent a grand total of 250.00 after flight and room.
    Why wouldn't you have less withheld and throw it in something interest-bearing?
    Hell, I dunno.

    Not much was withheld in 2009 anyway.
    It would appear that at least $4500 was withheld???
    No, $4500 is what he got back. He paid way less than that I'm sure. And that was over 12 months. So even it he had $2000 withheld, if he saved that himself and put it into a interest bearing account, he wouldn't have made much.
  • gerb131
    Paying around 8k this year and thats after I donated to every womans shelter, homeless shelter, yellow box, rehab clinic I could find. Settlement of an estate and got put through the ringer. Glad I ddn't have the farm party I planned on.
  • dwccrew
    Getting around $300 back from the feds and $21 from the state.
  • queencitybuckeye
    WebFire wrote: No, $4500 is what he got back. He paid way less than that I'm sure.
    I assumed that like most people, the money he got back was an overpayment of withholding over the course of the year. I didn't think about the EITC, as I wouldn't have thought that someone would go to Vegas on welfare money.
  • Chesapeake
    queencitybuckeye wrote:
    WebFire wrote: No, $4500 is what he got back. He paid way less than that I'm sure.
    I wouldn't have thought that someone would go to Vegas on welfare money.
    Are you saying outside of my tax return, I collect welfare on the side?

    How does one go about getting a welfare check anyway?

    Do welfare checks even exist?
  • queencitybuckeye
    Chesapeake wrote: Are you saying outside of my tax return, I collect welfare on the side?

    How does one go about getting a welfare check anyway?

    Do welfare checks even exist?
    If you get back more from the IRS than you paid in, you are receiving welfare.
  • Chesapeake
    queencitybuckeye wrote:
    Chesapeake wrote: Are you saying outside of my tax return, I collect welfare on the side?

    How does one go about getting a welfare check anyway?

    Do welfare checks even exist?
    If you get back more from the IRS than you paid in, you are receiving welfare.
    Wrong!
  • queencitybuckeye
    Chesapeake wrote: Wrong!
    How is it wrong?
  • GoChiefs
    Call it what you want..I'll gladly take my EIC (welfare). :)
  • Con_Alma
    Welfare is the receipt of financial aid from a government. If you receive more from the IRS than you paid you are receiving financial gain determined by your qualifying information listed on your tax returns.
  • Chesapeake
    queencitybuckeye wrote:
    Chesapeake wrote: Wrong!
    How is it wrong?
    Because i'm not on welfare for one.

    Less federal was withheld in 2009 for whatever reason then there was a 400.00 credit for that, a 1,000.00 working credit and a 3,100.00 earned income credit for a child.

    Your personal attack is uncalled for!

    I haven't even fuckin been here that much in recent months.
  • ts1227
    queencitybuckeye wrote:
    Chesapeake wrote: Are you saying outside of my tax return, I collect welfare on the side?

    How does one go about getting a welfare check anyway?

    Do welfare checks even exist?
    If you get back more from the IRS than you paid in, you are receiving welfare.
    I got more back then I put in because of education credits (college).
  • Chesapeake
    GoChiefs wrote: Call it what you want..I'll gladly take my EIC (welfare). :)
    If earned income credit is welfare then I guess i'm just on welfare. :D
  • Con_Alma
    One doesn't have to be "on" welfare to receive welfare.

    Chessy...I don't know your personal situation and I hope you don't take this as anything more than an interpretation of welfare in general.