I just did my taxes

[Nick@Night]

Originally Posted by dh4645

the wife and i are getting about $900 back.

also, to respond to your statement getting a large refund....like a few thousand...is bad money management...if you get a few hundred, then there is no reason to change your withholdings on your w-4

many people mistakenly look at a large refund as a great thing. You are essentially loaning the government $$$ throughout the year and not receiving any interest.

Way to say the exact same thing you quoted.

[dh4645]

Originally Posted by Nick@Night

Way to say the exact same thing you quoted.

whoopsy
i quoted the wrong person...ha

[Tiduwho]

Originally Posted by dh4645

the wife and i are getting about $900 back.

also, to respond to your statement getting a large refund....like a few thousand...is bad money management...if you get a few hundred, then there is no reason to change your withholdings on your w-4

many people mistakenly look at a large refund as a great thing. You are essentially loaning the government $$$ throughout the year and not receiving any interest.

Hmmm...okay, so rather than a matter of principal, you're saying that you should take that higher amount in your check, because you could be earning interest on it in at least some type of fashion.

That makes some sense, and now I understand better. I was confused earlier in the thread why this would be considered a bad thing other than the principal of the government holding on to more of your money than they should during the year.


I'm already getting $2,500 back and I'm not done filling stuff out yet, so i think I'm going to go to HR and have them change my withholdings to 1.

[Tiduwho]

Originally Posted by Nick@Night

Way to say the exact same thing you quoted.

It's not though, honestly.


The way he worded it made me understand the motive a lot better. Instead of from the angle of:

A.) "You're giving the government your money interest-free!" (which begs the question, wtf like I can charge the govt interest anyways, I don't give a shit)

into

B.) "You could be using that money yourself during the year and placing it somewhere where you could be earning interest on it."

[dh4645]

Originally Posted by Tiduwho

It's not though, honestly.


The way he worded it made me understand the motive a lot better. Instead of from the angle of:

A.) "You're giving the government your money interest-free!" (which begs the question, wtf like I can charge the govt interest anyways, I don't give a shit)

into

B.) "You could be using that money yourself during the year and placing it somewhere where you could be earning interest on it."

exactly

[WoodstockAimee]

taxes are officially done. had 28K in deductions.

[Nick@Night]

Originally Posted by Tiduwho

It's not though, honestly.


The way he worded it made me understand the motive a lot better. Instead of from the angle of:

A.) "You're giving the government your money interest-free!" (which begs the question, wtf like I can charge the govt interest anyways, I don't give a shit)

into

B.) "You could be using that money yourself during the year and placing it somewhere where you could be earning interest on it."

If you're uninformed, you could see it differently, sure. Me, I didn't.

[thestand]

Just did my taxes. I found out that my parents, who I haven't seen in about a year and a half now, still have me as a dependent. Meaning I can't get the stimulus check, even though I qualify for it. Awesome.

[Nick@Night]

Originally Posted by thestand

Just did my taxes. I found out that my parents, who I haven't seen in about a year and a half now, still have me as a dependent. Meaning I can't get the stimulus check, even though I qualify for it. Awesome.

Do they support you in any way or are you completely on your own from them financially?

[enigma1434]

Originally Posted by thestand

Just did my taxes. I found out that my parents, who I haven't seen in about a year and a half now, still have me as a dependent. Meaning I can't get the stimulus check, even though I qualify for it. Awesome.

They are claiming you as a dependent and you are claiming yourself?

[thestand]

Originally Posted by Nick@Night

Do they support you in any way or are you completely on your own from them financially?

Completely on my own. I know, what they're doing is illegal, blah blah blah. I just don't really feel like doing anything about it. If it saves me the hassle of actually talking to them, whatever.

[Nick@Night]

Originally Posted by thestand

Completely on my own. I know, what they're doing is illegal, blah blah blah. I just don't really feel like doing anything about it. If it saves me the hassle of actually talking to them, whatever.

Ouch, that ain't right.

[thestand]

Originally Posted by enigma1434

They are claiming you as a dependent and you are claiming yourself?

No, they're claiming me, and in one of the early boxes on the 1040EZ, I checked someone else can claim me as a dependent. I'll do something about it this year, I guess.

[WoodstockAimee]

Originally Posted by thestand

Completely on my own. I know, what they're doing is illegal, blah blah blah. I just don't really feel like doing anything about it. If it saves me the hassle of actually talking to them, whatever.

my condolences...that's pretty shitty

[enigma1434]

Originally Posted by thestand

No, they're claiming me, and in one of the early boxes on the 1040EZ, I checked someone else can claim me as a dependent. I'll do something about it this year, I guess.

Ok, gotcha. I was going to say...the IRS matching software would likely catch you being double claimed fairly quickly.

That sucks though. Probably time to do something about it if it means a lot to you.

[flying_gibbon]

why are people doing taxes so early? should i get on the ball here? first time doing my own taxes here

[enigma1434]

Originally Posted by flying_gibbon

why are people doing taxes so early? should i get on the ball here? first time doing my own taxes here

Because they want their refund to come sooner.

If you're getting money back, it's best to do them earlier since your refunds will come faster. (as the IRS and the state governments start to get bogged down, refunds are a little slower to come, although they're still pretty quick if you e-file and get direct deposit)

[Nick@Night]

Originally Posted by enigma1434

Because they want their refund to come sooner.

If you're getting money back, it's best to do them earlier since your refunds will come faster. (as the IRS and the state governments start to get bogged down, refunds are a little slower to come, although they're still pretty quick if you e-file and get direct deposit)

I probably should have e-filed my federal instead of mailing in my form, going on 3 weeks since I sent it in. Don't know if it would have made a ton of difference as it says it can be up to 6 weeks regardless of how it got in.

[41ravens]

finished mine over the weekend.

with another kid on the way and obama's stimulus plan, i fully expect to get $1,000,000 dollars back next year. can't wait.

[41ravens]

Originally Posted by Nick@Night

I probably should have e-filed my federal instead of mailing in my form, going on 3 weeks since I sent it in. Don't know if it would have made a ton of difference as it says it can be up to 6 weeks regardless of how it got in.

sent it in? what is this, 1987? efile is the shiz. i filed yesterday and should have my refund in the next 10 days.

[Nick@Night]

Originally Posted by 41ravens

sent it in? what is this, 1987? efile is the shiz. i filed yesterday and should have my refund in the next 10 days.

Yeah, I went old school. I got my state return back in less than a week even with mailing it in, so it's not a total loss.

[enigma1434]

Originally Posted by Nick@Night

I probably should have e-filed my federal instead of mailing in my form, going on 3 weeks since I sent it in. Don't know if it would have made a ton of difference as it says it can be up to 6 weeks regardless of how it got in.

It would have made a huge difference, especially this early on.

[Nick@Night]

Originally Posted by enigma1434

It would have made a huge difference, especially this early on.

Luckily I don't need the money like right this instant, I just didn't trust my internet either. The service we have is wireless and likes to go in and out of availability on a consistent basis (one second it's working, the next 30 seconds it's not, then it's back on for a few minutes, then back to off), really didn't want to play chicken with it when it came to submitting tax info.

[enigma1434]

Originally Posted by Nick@Night

Luckily I don't need the money like right this instant, I just didn't trust my internet either. The service we have is wireless and likes to go in and out of availability on a consistent basis (one second it's working, the next 30 seconds it's not, then it's back on for a few minutes, then back to off), really didn't want to play chicken with it when it came to submitting tax info.

Understandable.

I used to get free use of my former firm's tax prep software and e-file capabilities. I don't have that luxury at my current firm, but Brian works at my former firm (that's where we met). So, he can submit my taxes through there for free. Can't beat that.

[Nick@Night]

Originally Posted by enigma1434

Understandable.

I used to get free use of my former firm's tax prep software and e-file capabilities. I don't have that luxury at my current firm, but Brian works at my former firm (that's where we met). So, he can submit my taxes through there for free. Can't beat that.

If I have my money by the end of the month I'll be ok with that, if it goes longer I start hunting people down.

[enigma1434]

Originally Posted by Nick@Night

If I have my money by the end of the month I'll be ok with that, if it goes longer I start hunting people down.

I just got my second W2 today. Finally can do my taxes!

[chiznaz]

finished mine. Will be getting 1500 back from Uncle Sam. It's also nice not having to pay state
Income taxes.

[onemoredrink41]

says I should get my taxes back the 10th of Feb. I just hope I do... I did them online and had to enter a pin that I had used last year, just hope I put the correct pin to efile or else I won't get my money the 10th and I going on spring break damn it.

as far as state, you have to call a number, put your social security number in and the amount and it usually tells you when you will get it, every time I do it, doesn't freaken work... ??? damn kentucky.

[onemoredrink41]

Originally Posted by flying_gibbon

why are people doing taxes so early? should i get on the ball here? first time doing my own taxes here

Um the sooner you get your dolla's and the longer you wait, the more people file.... you much not need dolla's

[Tiduwho]

Originally Posted by onemoredrink41

says I should get my taxes back the 10th of Feb. I just hope I do... I did them online and had to enter a pin that I had used last year, just hope I put the correct pin to efile or else I won't get my money the 10th and I going on spring break damn it.

as far as state, you have to call a number, put your social security number in and the amount and it usually tells you when you will get it, every time I do it, doesn't freaken work... ??? damn kentucky.

Did you use turbo tax?