Taxes: Will you be getting a refund, or do you owe taxes this year

RamblingRose

(403 posts) Send PM | Profile | Ignore

Thu Apr-15-04 06:55 AM
Original message

Poll question: Taxes: Will you be getting a refund, or do you owe taxes this year

The huge tax cut I got last year I just turned back over to the government.

(Poll is for federal taxes, not state)

Printer Friendly | Permalink | | Top

RebelOne

(1000+ posts) Send PM | Profile | Ignore

Thu Apr-15-04 06:58 AM
Response to Original message

1. I owe federal taxes of $80,

but am getting a refund of $240 for state taxes.

Printer Friendly | Permalink | | Top

Gunit_Sangh

(424 posts) Send PM | Profile | Ignore

Thu Apr-15-04 07:16 AM
Response to Reply #1

3. You might consider ...

reducing the amount of state taxes being with held. It irked me for a couple of years that I had to count my state refund as *income* the following year and pay taxes on my tax refund.

I had a "duh attack" when I did my taxes this year and realized that it would be better to have the extra money to spend during the year and not have to pay taxes on the state tax refund the next year :o)

btw -- I am not a tax professional ... this is just my own opinion. I detest the idea of giving the government an interest free loan by overpaying taxes.

Printer Friendly | Permalink | | Top

unblock

(1000+ posts) Send PM | Profile | Ignore

Thu Apr-15-04 07:12 AM
Response to Original message

2. of course i owe. refunds are a sign of poor planning.

i tell work to withhold $0.00 (i claim 99 exemptions) and i pay estimated taxes quarterly, thus paying as close to the minimum, the latest as possible.

why give the gov't an interest-free loan?

Printer Friendly | Permalink | | Top

REP

(1000+ posts) Send PM | Profile | Ignore

Thu Apr-15-04 07:25 AM
Response to Reply #2

4. Not Always

I qualified for the Earned Income Credit this year, and because of the way my payments are structured, I still managed to overpay about $100.00. I hate giving them the loan, but that's about as close as I can get with my insurance payments.

Printer Friendly | Permalink | | Top

LeahMira

(1000+ posts) Send PM | Profile | Ignore

Thu Apr-15-04 09:34 AM
Response to Reply #2

19. Is that legal?

(i claim 99 exemptions)

Printer Friendly | Permalink | | Top

Skidmore

(1000+ posts) Send PM | Profile | Ignore

Thu Apr-15-04 07:37 AM
Response to Original message

5. Owed $569.33 to be exact...

AFTER having increased my withholding last spring.

Printer Friendly | Permalink | | Top

Enraged_Ape

(1000+ posts) Send PM | Profile | Ignore

Thu Apr-15-04 07:48 AM
Response to Original message

6. Between state and fed, I get a refund of $1

I shit you not. One dollar.

Printer Friendly | Permalink | | Top

OpSomBlood

(1000+ posts) Send PM | Profile | Ignore

Thu Apr-15-04 07:50 AM
Response to Original message

7. Last year I owed about $400...

This year I'm getting a $55 refund. Whatever.

Printer Friendly | Permalink | | Top

izzie

(1000+ posts) Send PM | Profile | Ignore

Thu Apr-15-04 08:10 AM
Response to Original message

8. But it is the first time in my life I have paid no taxes. Retired.

It was a shock.I have paid since the 50's

Printer Friendly | Permalink | | Top

noonwitch

(1000+ posts) Send PM | Profile | Ignore

Thu Apr-15-04 08:18 AM
Response to Original message

9. I own a home, so yes, I'm getting a nice fat return

I always got around $500 back federal when I rented. I now get about $2000 back because I can deduct my interest. Plus, I own a house, which is good.

Printer Friendly | Permalink | | Top

Finbar

(203 posts) Send PM | Profile | Ignore

Thu Apr-15-04 08:28 AM
Response to Original message

10. Check These numbers...

$3047 from Fed
$900 From NC State

A lot of the Fed is child tax credit. I am happy for the $4000 in tax credists, but would trade it for what is really needed in this country.

Printer Friendly | Permalink | | Top

Deb-Ter

(48 posts) Send PM | Profile | Ignore

Thu Apr-15-04 08:43 AM
Response to Reply #10

14. Finbar,

" $3047 from Fed
$900 From NC State

A lot of the Fed is child tax credit. I am happy for the $4000 in tax credists, but would trade it for what is really needed in this country."

Sure you can, you can send it back to the government and earmark it for the deficit, or for what ever program you want it to go to. Have them apply it to what you feel is most needed in this country.

Printer Friendly | Permalink | | Top

Finbar

(203 posts) Send PM | Profile | Ignore

Thu Apr-15-04 08:52 AM
Response to Reply #14

16. Amen Sis, But this year it had to pay off unsecured debt so that I can put

myself in a situation to "earmark the deficit". Plus I Haven't really seen the government too concerned about putting tax money where it should be, So it would be best to handle it at a local level. Support the programs that need it without channeling the money through the FED.

It's time for another tea party.

Printer Friendly | Permalink | | Top

Kong

(143 posts) Send PM | Profile | Ignore

Thu Apr-15-04 08:28 AM
Response to Original message

11. A God Damned Refund - And Here's Why

I have owed money on this date for the last 15 years. This year I do not. The reason I do not is that my wife, a college graduate, has been unemployed for the last 23 months and I didn't change my whitholding. So, realizing that the tax cuts that I didn't get (household income of less than 100 grand) is not the Bu$h policy that got me a refund for the first time in over a decade, it was his overall economic policy which has cut our income almost in half.

Printer Friendly | Permalink | | Top

Van Helsing

(376 posts) Send PM | Profile | Ignore

Thu Apr-15-04 08:29 AM
Response to Original message

12. I did my taxes in January.

Got $100-something back. :)

Printer Friendly | Permalink | | Top

fencesitter

(1000+ posts) Send PM | Profile | Ignore

Thu Apr-15-04 08:37 AM
Response to Original message

13. I owe 2900.00, No tax cut fer me....

single: strike one.
no kids: strike two.
not a homeowner: strike three
no IRA contributions: strike four. (Hey, can't have 4 strikes!)

My AGI was 12,300. So this is who pays the taxes. Hmmm.

Printer Friendly | Permalink | | Top

kiahzero

(1000+ posts) Send PM | Profile | Ignore

Thu Apr-15-04 08:46 AM
Response to Original message

15. Refund of $150

I'm a student, so I only made about $1,700.

Printer Friendly | Permalink | | Top

CO Liberal

(1000+ posts) Send PM | Profile | Ignore

Thu Apr-15-04 08:55 AM
Response to Original message

17. Actually, "Other"

I was supposed to be getting $1100 back from Uncle Sam. But they claim I didn't report all my income in 2001, so they applied my refund to the unpaid balance. And they want $400 more.......

Printer Friendly | Permalink | | Top

DinahMoeHum

(1000+ posts) Send PM | Profile | Ignore

Thu Apr-15-04 09:14 AM
Response to Original message

18. Actually, I have both situations. I live in NY but work in CT. . .

which means filing
1) Federal
2) NY State
3) CT non-resident

I get refunds on the federal and CT non-resident. I owe money with the NY state.

In the end, I end up getting a little back (~$100-200) or owing a little (~$100-200)

If it weren't for my 401K and IRA deductions, I'd be in deep ca-ca.

:evilfrown:

Printer Friendly | Permalink | | Top

TahitiNut

(1000+ posts) Send PM | Profile | Ignore

Thu Apr-15-04 09:44 AM
Response to Original message

20. Other.

Printer Friendly | Permalink | | Top

Commendatori

(1000+ posts) Send PM | Profile | Ignore

Thu Apr-15-04 10:03 AM
Response to Original message

21. Refunds

I owed $76 in state and got back $78 from federal.

Postage for both returns was about a dollar. That puts me a cool dollar of genuine American currency in the black. I can buy a shot glass of Bass Ale with that and am willing to share my good fortune. Call early, because this offer won't last.

Printer Friendly | Permalink | | Top

bif

(1000+ posts) Send PM | Profile | Ignore

Thu Apr-15-04 10:13 AM
Response to Original message

22. I owe, I owe, it's off to work I go!

First time in a while we actually have to pay. Ouch!

Printer Friendly | Permalink | | Top

FlaGranny

(1000+ posts) Send PM | Profile | Ignore

Thu Apr-15-04 10:26 AM
Response to Original message

23. We had to pay more this year than last.

My husband is self employed. We actually earned less money this year than the year before, but wound up paying a little more in taxes. We DID move and don't have mortgage payment interest to deduct any more. We had to take the standard deduction.

Printer Friendly | Permalink | | Top

DU AdBot (1000+ posts)

Tue Apr 30th 2024, 06:41 AM
Response to Original message

Advertisements [?]

Top

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators

Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.