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Who else owed this year in taxes thread..

dragknee66

By dragknee66
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evan9381 Newbie

evan9381

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dude, i didnt have any deductions, and got back like $15-1600. plus, i claim 1 all year (claim 0 i'd have a bigger refund but less per check).

 

its probably something with the way youve got your withholdings set up

 

i cant wait to find out next year what ill get back since i just bought a house. hopefully its a decent chunk

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TURBOED Newbie

TURBOED

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I owed federal $238, and I got $237 back from state... so no harm. I owe federal because I claim a "2" on my W-4. Look at it this way, a refund means you gave an interest free loan to the government all year, and now they are paying it back. I personally don't want those half-whits to get their grubby irresponsible little hands on any more of my money than I can help. If you go to the IRS website, you can do a calculator that will estimate what to claim on your W-4 in order to not owe.
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evan9381 Newbie

evan9381

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  TURBOED said:
I owed federal $238, and I got $237 back from state... so no harm. I owe federal because I claim a "2" on my W-4. Look at it this way, a refund means you gave an interest free loan to the government all year, and now they are paying it back. I personally don't want those half-whits to get their grubby irresponsible little hands on any more of my money than I can help.

 

sorta offtopic - are you the person from the other thread about the first time homebuyer credit that seemed to know your shit about taxes? if so, can you shoot me a PM if you know how i should go about amending my 08 return to i can add my home purchase to it, and get back that credit from the .gov without waiting til 09? and if there would be any negative effects of doing it now?

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AJ Newbie

AJ

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  evan9381 said:
sorta offtopic - are you the person from the other thread about the first time homebuyer credit that seemed to know your shit about taxes? if so, can you shoot me a PM if you know how i should go about amending my 08 return to i can add my home purchase to it, and get back that credit from the .gov without waiting til 09? and if there would be any negative effects of doing it now?

 

you can't.

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darkstarsinner Newbie

darkstarsinner

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I got a huge chunk back. Lol, just have a kid. Then have another the next year. I got two little buddies and a nice tax return. I was shocked when they told me how much they were giving me. I even called the IRS to confirm cause it didn't seem right. Then when I didn't get it when they said I should I figured they were fixing it to the correct amount. About two weeks later they deposited even more. Then I got a letter in the mail. "Shit I'm being audited". Nope. They made changes alright, and added an additional $600 because I forgot to put something in, I think line 24 or something. I still don't quite understand it but I'm not complaining.

 

 

Edit: Don't really have kids for a larger refund. I was just kidding!!

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kirks5oh Newbie

kirks5oh

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i claim no deductions and have a wife and twin daughters. my tax return was nice, as always. i find that if i claimed more deductions, it is true that i would get more money with each paycheck, but it would be easier to spend that money. when i get one big check at the end of the year from uncle sam, i'm guilted into putting most of it into savings--in the long run, it allows me to save more money
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evan9381 Newbie

evan9381

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  AJ said:
you can't.

 

you can. im just trying to figure out the best way to do so, and if its going to cost me anything for any dumb reason. trust me, its doable.

 

  dragknee66 said:
I just found a few nice places in grove tucky I might be interested in.

I need to find a steal of a forclosure or something.

Anyone know where I can begin to look??

 

http://www.nhmsi.com if you want to get a HUD house. i feel like i got lucky on mine. im less than a mile from easton, not a bad area either (morse/sunbury), 3br, 1.5 ba, 1400sq/ft, 2 car garage, 3 level split for 78k...ends up being $108 more than im paying in rent...i had to buy appliances, replace a/c unit out back (escrowed, so im not counting that as extra money to spend) and drop some money on stuff to fix up before moving in, but i dont think ive spent over a grand at this point on all that stuff.

 

the reason i say i feel lucky of what i got, is a lot of times with HUD's, the people destroy the house before they leave, rip out copper, kick in walls, etc etc. the place i got, someone stole the a/c (i dont think it was the owners), walls are all fine, copper is all there, really not bad. worst things i have to deal with is a leak in the roof from the windstorm last month (just found out today how bad its leaking, but its not major.), and the last owners painted over wallpaper, so we had to mud over all the seams before we can paint tomorrow. theres fake hardwood floors through the main level, and all bedrooms upstairs, but im putting carpet in because i think in the 2 big rooms theyre too dark and i dont want to get out of bed and step onto a cold wood floor.

 

grove city had a SHITLOAD of places that looked decent from the online listings, but a main reason for moving to where i did is i was sick of driving blacklick to westerville daily

 

plus, as i was speaking of above, this year, if you havent owned a house in the last 3 years you should qualify for a tax credit of 10% of purchase price up to $8,000 from the .gov. so if you end up owing 3k next year and claim it, the feds will give you a check for $5k

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Ziggy1647545504 Newbie

Ziggy1647545504

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I got a big chunk back from the Fed, and a smaller, but significant chunk back from the State. Two kids and a mortgage make a HUGE difference in tax returns. I've got to change my W-4, I claimed 7 for most of the year last year, and still got a $4k Fed refund.
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Smokey Enthusiast

Smokey

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  Nitrousbird said:
State must have really changed their tax structure this year. We got a TON of money back from Federal, yet owe several hundred to state. First year of filing married.

 

Ohio F's you for being married. My wife and I worked it out both ways and we ended up filing "married filing seperately". It gave us about $100 less on our federal, but we went from owing $400 to the state to us getting back $100. So in the end it worked out to about $400 in our favor to file married filing seperately.

 

Might want to check that out next year.

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Nitrousbird Newbie

Nitrousbird

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  Smokey said:
Ohio F's you for being married. My wife and I worked it out both ways and we ended up filing "married filing seperately". It gave us about $100 less on our federal, but we went from owing $400 to the state to us getting back $100. So in the end it worked out to about $400 in our favor to file married filing seperately.

 

Might want to check that out next year.

Already checked it out this year. Overall, we would have netted a couple k less doing it that way. Trust me, that's the first thing I started crunching numbers with when I found out what we owed to the state. F'ing BS.

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LJ Newbie

LJ

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  LS-ONEd said:
my quarterly's are not fun this year either:(

 

imagine how pissed I was though in the difference in quarterly payments from 2nd and 3rd quarter to my 4th quarter payment (ie oil crashing) LOL

 

My first quarter payment is going to be shitty too, but it's just all my pay. The company actually always runs a loss because of capitalizing new wells :)

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