Quote :

"noone answered my querstion. They took out 272 from federal and 137 from state with one job....other job they took out 75 and 32. Both these jobs totals were less than 5 grand for the year. Should I get all that back? I also pay my own tuition, car payment, etc. etc. What advice can you give me? also if I do turbo tax I SHOULD get it back before February 29th right? "

Pick a free e-filer (the return takes around 8 to 15 days, that said I got mine in 5 business days last year. It takes about 15 minutes to do yourself (this was with sale of stock/deductions/credits). In addition, it is completely free and if you're real lazy and you have state employees credit union they will do it for you for free. Just get your shit together W-2, 1098T, etc...



[Edited on February 10, 2008 at 11:07 PM. Reason : .]

2/10/2008 10:58:21 PM

- $delaware

2/11/2008 8:33:17 AM

somewhere between $1000 and $1500 - claimed 1 on state the whole year through, 0 half the year on feds, 1 the other half. Not bad.

Will eventually get to around $0 - but for the time being I'll eat the $50-100 I could make in interest and give it to Uncle Sam - makes Feb a sweet money month ever year

2/11/2008 3:23:46 PM

$389 from the feds, $14 owed to the state. i guess it could be worse :/

2/11/2008 9:18:49 PM

Don't know a darn thing about taxes but did it myself thanks for the person who posted the link for turbo tax. Somehow when all is said and done since I am on my own and school is paid by myself and loans I am getting back 722 from federal and 183 from state. Sound about right for someone who made 5 g's this year and paid about that much for tuition etc???

2/12/2008 12:23:34 AM

~1500 fed and state together. sucks that mine isn't being efiled yet cause of that stupid delay in education credits. thought the target date was feb 11 but mine is still pending.

2/12/2008 8:44:29 AM

^ mine went through a few hours ago, so it shouldn't be long

2/12/2008 1:22:18 PM

Education Credits were accepted after the 11 a.m. drain time yesterday. If your return was submitted properly it should of been accepted by 6 p.m. yesterday.

2/12/2008 6:24:53 PM

oh man, i forgot about the education credit. every year since it no longer applies i have owed

2/12/2008 6:59:20 PM

Hey all. I did all of it myself from that link someone posted a page or 2 back. thanks for the link by the way. I only really had 272 plus 23 taken out from federal for 295 and 171 plus 12 for state so 183 , after entering about my education, tuition, etc etc I am getting 722 and 183 back. 905. How the hell did this happen? And what is this I hear us working people will get money back sometime in may? Let me know something people. OH and when I was fillling it out it said that damons took too much from my social security and medicare and that I would have to contact them to continue. It still let me continue though but damn those people.

2/13/2008 12:13:45 AM

federal -102
california +120

after paying for taxact online deluxe.... i'm up $1

2/16/2008 4:45:23 AM

^^ you had an earned income tax credit of $427 for federal. $300-600 tax rebate check coming to you in may. not bad, eh?

2/16/2008 1:56:51 PM

Im getting over 10k fed, 1k state of my money back.

Claimed zero, when there is 2 dependents. And have 20k between house and student loan interest paid.

i realize its stupid to claim 0, but I get used to living without the money to begin with. So its like a budgeting tool.

It sounds like alot, but I get HAMMERED in taxes. And its only going to get worse im afraid.

[Edited on February 16, 2008 at 8:36 PM. Reason : .]

2/16/2008 8:35:19 PM

It looks like I owe about $4,500

2/19/2008 3:59:17 PM

I'm going to owe about $2400 between Federal and State.

2/19/2008 11:19:22 PM

Do you guys, who owe money, claim 0 on your withholding?

2/20/2008 11:02:54 AM

$1600 fed
$50 state

wat

2/20/2008 11:05:45 AM

^^ claiming zero means they take out the most taxes possible, meaning you get a huge refund. Get your shit straight, claiming too few exemptions will get you a huge refund, claiming too many will make you owe. Based on what you said you should be claiming anywhere from 3 to 5, your paycheck will be much bigger (HELL you GAVE them basically an EXTRA 850 a month by claiming ZERO).



Also for those who filed because of the ATM delay, I just got my refund a few minutes ago (7 business days with efile not bad at all).



[Edited on February 22, 2008 at 1:43 AM. Reason : .]

2/22/2008 1:26:44 AM

I estimated my taxes for next year....Pulling out the maximum...

I still owe money.

2/22/2008 9:15:06 AM

owe between $500-$1000

I hate this shit

2/24/2008 5:58:09 PM

after all my fees

federal i'll get $578.15
state i'll get $271.00

i had $9300 of income untaxed, but thankfully my house, finishing an unfinished room as a home office, and student loans got me out of the red.

turbotax ftw...it was so easy as long as you save all your documents in one place.

2/24/2008 10:14:53 PM

I owe $5,900 to the feds and $600 to the state.

2/27/2008 9:06:23 AM

WTF FOR?

2/27/2008 9:18:54 AM

ewww

2/27/2008 9:33:50 AM

yikes

time to head to mexico

2/27/2008 9:43:55 AM

^^^^ care to explain?

oh and i only worked 6 months and i claimed 0 (already bumped it up for 08 tho).

3300 federal back
1200 state back

[Edited on February 27, 2008 at 10:05 AM. Reason : ]

2/27/2008 9:57:31 AM

I haven't seen what exactly for yet. I just got the email from my cpa telling me that they're ready.

I work full time (W2), but I also had some 1099 income. To mitigate my tax obligation, I max 401k, max FSA. I still have so much taken away in withholding that I almost go from check to check.

I have deductions a plenty to offset the 1099 income. My initial suspicion is that I have been hit with AMT.

It really pisses me off. I had more discretionary income when I made 1/2 of what I do now.

2/27/2008 10:05:18 AM

You shouldnt have been hit with AMT unless you have high real estate taxes or income tax withheld from the state.

2/27/2008 10:50:35 PM

I got my 722 from federal back last Friday at midnight the 22nd. the EXACT date they said I was supposed to get it back when doing it before the 14th. did the same for state and I still haven't gotten my darn 183. Who should I call because the # I called is out of order and I am going out of the country on Friday. 183 would be some nice change to bring with me.

2/28/2008 12:23:04 AM

^^ What is the basis for your statement?

2/28/2008 9:25:00 AM

Feds: -$537
State: $292

Not good, but not bad.

I got messed up by NCSU. What's new there?

2/28/2008 10:22:12 AM

The basis for my statement is the fact that the majority of people get hit with AMT because of high state income taxes and real estate taxes. If you dont pay alot of state income tax / real estate taxes you can usually avoid AMT.

2/28/2008 3:28:39 PM

I was thinking more along the lines of asking if you could point me toward the source of your information. Or, at least point me toward some information that supports your statement.

2/28/2008 3:48:24 PM

Go to http://www.irs.gov and look for 6251 Alternative Minimum Tax, then look at the first 10 adjustments to income.

Actually look at line 3: Taxes from Schedule A, line 9.

Schedule A line 9 consits of state income tax, real estate taxes, property taxes, etc.

[Edited on February 29, 2008 at 4:36 PM. Reason : more]

2/29/2008 4:31:14 PM

Getting every penny back

$821 fed
$404 state


woohoo . . . free money . . . or so some people thing

3/5/2008 1:48:09 PM

Refund of $6,900!!!
5,000 Fed
1,900 State

$21,000 in intrest on my two houses. 2,000 in donations, I work from home so I claim my home office and car. Filed Single....woot!

3/5/2008 2:17:49 PM

You claim your car b/c you work from home???

3/5/2008 2:24:55 PM

Are you not getting any rental income from the second home? What do you mean when you claim your car? Car property taxes?

3/5/2008 7:31:10 PM

ok, so i spent about 1200 bucks on classes as prereqs for grad school, but i wasn't enrolled in a degree program or anything like that. can i write those off, or do they fall under the category of "fun" or whatever the classification is?

3/5/2008 8:01:01 PM

Quote :

"^^ claiming zero means they take out the most taxes possible, meaning you get a huge refund. Get your shit straight, claiming too few exemptions will get you a huge refund, claiming too many will make you owe. Based on what you said you should be claiming anywhere from 3 to 5, your paycheck will be much bigger (HELL you GAVE them basically an EXTRA 850 a month by claiming ZERO)"

Hey ass, I do have my shit straight. I posted earlier. I have 2 dep. I claim 0, so I know Ill get some of my money back. As I said: "i realize its stupid to claim 0, but I get used to living without the money to begin with. So its like a budgeting tool."

The reason I asked the guys if they claimed 0, is bc if they didnt they should and hopefully wont owe money next year. If they did and didnt have other income coming in, then I would suggest they have someone else look at thier taxes. Got that?

3/5/2008 8:11:35 PM

Quote :

"Refund of $6,900!!! 5,000 Fed 1,900 State $21,000 in intrest on my two houses. 2,000 in donations, I work from home so I claim my home office and car. Filed Single....woot!"

this sounds like an audit waiting to happen.

3/5/2008 8:17:30 PM

Quote :

"I have 2 dep. I claim 0, so I know Ill get some of my money back. As I said: "i realize its stupid to claim 0, but I get used to living without the money to begin with. So its like a budgeting tool.""

so you basically use it as a 0 interest savings account . . . which is completely retarded. If you are used to living without that money anyways, it wouls be wiser to just set it aside in some sort of account that will make you money instead of giving the govt a free loan. Shit, even a crappy savings account from a brick and mortar bank would be better than what you do now.

3/5/2008 8:31:11 PM

^I agree. The benefit is that I live below my means and dont have to scramble to find money to pay my taxes. Actually, I get a nice refund of really unexpected money.

3/6/2008 12:25:48 PM

How is it "really unexpected money" and "a budgeting tool" at the same time?

3/6/2008 12:32:21 PM

you wouldn't rather have that money sitting in a high yield savings account, CD's, T-bills or _somewhere_ where inflation isn't eating away at the value of that money?

3/6/2008 12:33:28 PM

skwinkle. Its a budgeting tool bc I take home less money, thus I dont have it to spend. It forces you to live below your means. Its unexpected money, the refund, bc its not factored in my budget.

Bobby, yes that would make more financial sense, however, nothing stops me from putting it in one now.

3/6/2008 12:38:25 PM

You're the reason we can never get rid of social security.

3/6/2008 12:40:44 PM

^really? care to explain?

3/6/2008 12:50:23 PM

Quote :

"The benefit is that I live below my means and dont have to scramble to find money to pay my taxes. Actually, I get a nice refund of really unexpected money."

it doesnt force you to live below your means anymore than anyone who immediately has the extra money put into a savings account. when I bumped up my W4 to 2 from 0 this year the exact amount of extra money that was being put into my pay check was added to my normal automated deposit to my savings account. i still dont see the money, and the government doesnt have it.

3/6/2008 12:54:56 PM

^^

You don't have the discipline just to save/invest your extra income every month. You need someone to force you to save.

3/6/2008 1:22:02 PM