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Posted: 2/7/2006 6:35:34 AM EDT
[Last Edit: 2/7/2006 6:39:09 AM EDT by Kharn]
IBTP
I really love the IRS's ~10 page worksheet on how to figure out how many dependants you should list on your W2 to reduce your withholding to the proper level.

Kharn
Link Posted: 2/7/2006 6:42:37 AM EDT
No refunds for me. I gotta pay them just under $1000.
Link Posted: 2/7/2006 6:44:34 AM EDT

Originally Posted By Kharn:
IBTP
I really love the IRS's ~10 page worksheet on how to figure out how many dependants you should list on your W2 to reduce your withholding to the proper level.

Kharn




Considering how much money I spent on my damn cat last year, I really tried to find a way to claim the little bastard as a dependent.
Link Posted: 2/7/2006 6:45:10 AM EDT
Ask me closer to April 15.
Link Posted: 2/7/2006 6:45:29 AM EDT
With the way my work schedule goes it is very difficult for me to get my W4 right. My schedule will be 40 hour weeks, then I will work a few 84 hour weeks on second shift (with a 17% premium and 1 1/2 time after 8) and that generates a HUGE check of which they take a big chunk. Then I will be off for a few weeks, etc. It really messes up my taxes. When I used to work in a paper mill I knew exactly when and how many hours I was going to work and my taxes usually came out about $200 owing or refund. This year I am getting back in excess of $5,000 and I claimed married with 5 dependents. I really don't like letting the .gov hold onto that much of my cash and not pay me any interest.
Link Posted: 2/7/2006 8:36:29 AM EDT
If it was not for the business expences, and the capital losses from the Tornado damage I would have to pay about $200.
Link Posted: 2/7/2006 8:48:29 AM EDT
I get a refund this year:

State - $183
Fed - $373

Total - $556


I think it's a sign.
Link Posted: 2/7/2006 8:49:16 AM EDT
I owe $1600 between my wife and myself.
Link Posted: 2/7/2006 8:51:22 AM EDT
I always have to pay.

About $400 to the fed this year.
Link Posted: 2/7/2006 8:51:34 AM EDT

Originally Posted By Bumblebee_Bob:
I get a refund this year:

State - $183
Fed - $373

Total - $556


I think it's a sign.



It sure is!!

///marks Bumblebee_Bob down for an audit///

Link Posted: 2/7/2006 8:52:03 AM EDT
well,lets put it this way,because i had a daughter last year,in a couple of weeks i get a new ptr-91,20 mags,and 600 rounds of ammo. thank god for kids and e-file.
Link Posted: 2/7/2006 8:57:45 AM EDT
[Last Edit: 2/7/2006 8:58:52 AM EDT by motown_steve]

Originally Posted By SWS:
I always have to pay.

About $400 to the fed this year.



That's supposed to be the way to go. Set it up so that you are getting all of your money during the year. If you are using your money wisely then it is more profitable to have your money during the year and then pay a small amount to the government at tax time.

Refunds are just repayment of an interest free loan to the government. I need to work on adjusting my taxes to get me closer to zero at tax time. The last few years I have had huge refunds from the government. That's money that I should have been putting to better use during the year.

I'm expecting several thousand this year...but I won't know how much until after I actually break down and file.
Link Posted: 2/7/2006 9:00:52 AM EDT
[Last Edit: 2/7/2006 9:01:21 AM EDT by Leisure_Shoot]

Originally Posted By Kharn:
IBTP
I really love the IRS's ~10 page worksheet on how to figure out how many dependants you should list on your W2 to reduce your withholding to the proper level.

Kharn



try this...IRS witholding caculator
Link Posted: 2/7/2006 9:04:04 AM EDT
I owe around $235 I think, which was vastly reduced from the thousands I would have owed if not for some helpful education credits.
Link Posted: 2/7/2006 9:10:44 AM EDT
Link Posted: 2/7/2006 9:37:59 AM EDT
Between Fed and State I'm going to see just over $10,700 comning back.

Trust me, that won't ever happen again...
Link Posted: 2/7/2006 4:16:16 PM EDT
Bump for the night crew

Kharn
Link Posted: 2/7/2006 4:21:03 PM EDT

Originally Posted By VA-gunnut:
I'm a single parent with 3 kids. I'm getting a nice return.


+.3

I've only got the one kid.
Link Posted: 2/7/2006 4:23:24 PM EDT
Thanks to the AMT I haven't seen a refund in years. It's a big outgoing check for me at tax time.
Link Posted: 2/7/2006 4:30:45 PM EDT
I beat them this year again (well, at least I beat them at their game). I always endeavor to owe the gov under $500 so I owe no penalties. I owe them a little over $300. I already account for it in my saving practices.

There is no way I am giving them an interest free loan.
Link Posted: 2/7/2006 5:23:27 PM EDT
I'm getting back about $4200, too bad the wife knows about it . . .
Link Posted: 2/7/2006 5:25:09 PM EDT
$87.00
Link Posted: 2/7/2006 5:25:43 PM EDT
Getting $234 back.
Link Posted: 2/7/2006 5:36:15 PM EDT
Link Posted: 2/7/2006 7:09:37 PM EDT
About 1K back from state and about 1500 back from the Feds.

Yeah I could get it down closer to 1-200 back from each but that would more work than I am interested in doing.

So we take the money and take the family on a nice week-long beach vacation in the summer.
Link Posted: 2/7/2006 7:16:26 PM EDT
$4300 from Fed...$480 from Fed...My situation changes every year so I err on the side of overpayment...I've gotten burned bad in the past.
Link Posted: 2/7/2006 7:25:23 PM EDT
I usually get back around $2500 every year, but I invest nearly all of it, which gets me interest back. So, in essence, the only year I lost interest was the first year they took my money and then gave it back to me.

Odd logic, I know, but it's what I do.
Link Posted: 2/7/2006 7:29:23 PM EDT
I normally get money back - I guess that makes me stupid!!!
Link Posted: 2/7/2006 7:44:59 PM EDT

Originally Posted By NL-Prof:

Originally Posted By Kharn:
IBTP
I really love the IRS's ~10 page worksheet on how to figure out how many dependants you should list on your W2 to reduce your withholding to the proper level.

Kharn




Considering how much money I spent on my damn cat last year, I really tried to find a way to claim the little bastard as a dependent.



Cat? Does your wife know you're gay?
Link Posted: 2/7/2006 7:46:29 PM EDT

Originally Posted By thompsondd:
I normally get money back - I guess that makes me stupid!!!



yes and no, if you get a couple hundred back, no problems. if you get 5 grand back, yes you are an idiot
Link Posted: 2/7/2006 8:45:41 PM EDT
Im getting about $1,400.00 back. I personally like the chunk of cash at tax time. It makes it a lot eaiser to deal with getting money back than it does to come up with the cash to pay the government.

hug.gif
Link Posted: 2/7/2006 8:51:04 PM EDT
Show me in the Constitution where it says you have to pay taxes.
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