ZYUL8TR Posted February 6, 2008 Report Share Posted February 6, 2008 Everytime I get a new job I will put atleast a thirty dollar withhold on my check so I get a fat return, it's just a way of saving the money and getting a nice spring present each year. I'm getting about 600 dollars not including the fact my broke college ass hit the poverty level bonus too Just think what that $30 would do if it went into a high yield 401K. Or even a CD. Those that ask the IRS to keep the extra money per pay period, are basically taking out a no interest loan. Why not just put that money into your 401k, take out a 401K loan, then pay YOURSELF back the interest. If your company matches, you make double. Quote Link to comment Share on other sites More sharing options...
nurkvinny Posted February 7, 2008 Report Share Posted February 7, 2008 Yah, let us know how your audit goes... Oh, jeebus. Quote Link to comment Share on other sites More sharing options...
singleturbo3kgt Posted February 7, 2008 Report Share Posted February 7, 2008 Can a couple that is divorced both claim the same kid??? Quote Link to comment Share on other sites More sharing options...
Wease Posted February 7, 2008 Report Share Posted February 7, 2008 LMAO @ the people getting large returns. Don't give the government anymore money than you already have to. Adjust your withholdings so you don't get such a large return. Get more money, invest more money, make more money. It's just that simple. That being said the wife and I owe about $250 this year. Bingo! Quote Link to comment Share on other sites More sharing options...
Putty Posted February 7, 2008 Author Report Share Posted February 7, 2008 If you just got into your house this year then next year is when you'll really start to see the benefits on your return. That's what i'm hoping... Quote Link to comment Share on other sites More sharing options...
RangerTurbo Posted February 7, 2008 Report Share Posted February 7, 2008 I'm getting a huge return this year because I got married and built a house. I didn't change my with holdings till I filed, but have changed them for this tax year. The one thing that pissed me off, was my wifes income bumped us to the next tax bracket. Her ~$1000 that bumped us over the gross income limit, cost me ~$1300 less coming back to me. Thanks Uncle Sam, ya slighted fuck. Quote Link to comment Share on other sites More sharing options...
Scotty2Hotty Posted February 7, 2008 Report Share Posted February 7, 2008 Can a couple that is divorced both claim the same kid??? Don't think so, I believe only one parent can take the kid under the claim. Quote Link to comment Share on other sites More sharing options...
Wease Posted February 7, 2008 Report Share Posted February 7, 2008 Can a couple that is divorced both claim the same kid??? No they can't. Only one can claim. Quote Link to comment Share on other sites More sharing options...
Putty Posted February 7, 2008 Author Report Share Posted February 7, 2008 Can a couple that is divorced both claim the same kid??? LOL...No Quote Link to comment Share on other sites More sharing options...
87GT Posted February 7, 2008 Report Share Posted February 7, 2008 That's what i'm hoping... Don't bank on getting back a lot on your mortgage. I only got back $70 from the interest I paid. Even still I have to pay this year. Quote Link to comment Share on other sites More sharing options...
Miller Posted February 7, 2008 Report Share Posted February 7, 2008 Just think what that $30 would do if it went into a high yield 401K. Or even a CD. :nod: Quote Link to comment Share on other sites More sharing options...
87GT Posted February 7, 2008 Report Share Posted February 7, 2008 I suggest a money market account from Capital One. Same APR if not more that you would get from a CD. Plus you can take money out whenever you need it. I make so much interest a year from my MMA that I claim it on my taxes. ^_^ Quote Link to comment Share on other sites More sharing options...
RangerTurbo Posted February 7, 2008 Report Share Posted February 7, 2008 I make so much interest a year from my MMA that I claim it on my taxes. ^_^ Which isn't a lot is it? Hell, if your bank account makes more than $10 a year in interest you have to claim it. Quote Link to comment Share on other sites More sharing options...
Putty Posted February 7, 2008 Author Report Share Posted February 7, 2008 Don't bank on getting back a lot on your mortgage. I only got back $70 from the interest I paid. Even still I have to pay this year. Way to bring me down! I suggest a money market account from Capital One. Same APR if not more that you would get from a CD. Plus you can take money out whenever you need it. I make so much interest a year from my MMA that I claim it on my taxes. ^_^ I'll look into this. Quote Link to comment Share on other sites More sharing options...
87GT Posted February 7, 2008 Report Share Posted February 7, 2008 Which isn't a lot is it? Hell, if your bank account makes more than $10 a year in interest you have to claim it. I make like $2.15 a month and have less then 700$ in my savings account. If I was able to save more money I would have a crap load of interest. Quote Link to comment Share on other sites More sharing options...
87GT Posted February 7, 2008 Report Share Posted February 7, 2008 Way to bring me down! I'll look into this. http://www.capitalone.com/directbanking/hymm/index.php?linkid=WWW_Z_Z_Z_SP28_R3_04_T_SP25 The APR is pretty low right now. It does vary month to month. I started out with 5% APR a few years ago. Quote Link to comment Share on other sites More sharing options...
singleturbo3kgt Posted February 8, 2008 Report Share Posted February 8, 2008 that dumb bitch beat me to it.... dammit Quote Link to comment Share on other sites More sharing options...
LJ Posted February 8, 2008 Report Share Posted February 8, 2008 LMAO @ the people getting large returns. Don't give the government anymore money than you already have to. Adjust your withholdings so you don't get such a large return. Get more money, invest more money, make more money. It's just that simple. That being said the wife and I owe about $250 this year. Bingo! Proper tax planning should = $0 owed and return <$100 (that is working a regular W2 job) Of course that is just always what we said when I worked in advising and tax preperation. Tax credits are the best thing for getting money back. If you claim a credit, it doesn't tech. affect your AGI but it credits your taxes paid. So $0 owed $0 return, $1000 tuition credit.... bam $1000 return... Quote Link to comment Share on other sites More sharing options...
ZYUL8TR Posted February 8, 2008 Report Share Posted February 8, 2008 So $0 owed $0 return, $1000 tuition credit.... bam $1000 return... Doesn't work that way. The tuition credit is based upon percentage of income. Quote Link to comment Share on other sites More sharing options...
TimTaylor751647545500 Posted February 8, 2008 Report Share Posted February 8, 2008 I have just always claimed 0 along with putting 8% into my 401k and am still getting a heafty return. I don't think it's a matter of bad planning as much as familiarity for me. Quote Link to comment Share on other sites More sharing options...
Putty Posted February 8, 2008 Author Report Share Posted February 8, 2008 I have just always claimed 0 along with putting 8% into my 401k and am still getting a heafty return. I claim 1 and add 12% to my 401k and getting shitted on by worthless Sam. Quote Link to comment Share on other sites More sharing options...
stangsn95gt Posted February 8, 2008 Report Share Posted February 8, 2008 i claim 0 and i ve never talked 2 uncle sam but i know when hes behind me Quote Link to comment Share on other sites More sharing options...
Scotty2Hotty Posted February 8, 2008 Report Share Posted February 8, 2008 that dumb bitch beat me to it.... dammit Want her to "disappear"? Quote Link to comment Share on other sites More sharing options...
LJ Posted February 8, 2008 Report Share Posted February 8, 2008 Doesn't work that way. The tuition credit is based upon percentage of income. The tutition credit is only based on your income once you hit a threshold. Quote Link to comment Share on other sites More sharing options...
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