how do you people get so much back in taxes?

[FeS RoY 10+ year member]

although i did donate a bit in 07 and i'll be getting that back

 

[mapolley07 10+ year member]

between state and federal i will be getting about $500 back. i only worked 8 months in 2007 and most of that was part-time, and my parents can still claim me as a dependent. I don't think thats a bad amount to get back considering how little I made

 

[W8 a minute 10+ year member]

Honestly, if you are getting 2k or more back in taxes you're an idiot. Why? Because you're paying too much during the year. That's money plus interest that should have been in your pocket not Uncle Sam's. So unless your income changes greatly from year to year you should have a rough idea of what you need to pay.

 

[Decado2 10+ year member]

people with real jobs usually pay in
//content.invisioncic.com/y282845/emoticons/fyi.gif.9f1f679348da7204ce960cfc74bca8e0.gif

I was going to say "Ask Flip, he says your not supposed to get anything back" but he has already responded //content.invisioncic.com/y282845/emoticons/biggrin.gif.d71a5d36fcbab170f2364c9f2e3946cb.gif

 

[Zakerid 10+ year member]

i just figured mine and im gettin 746 back, which im happy with, but how do some of you get 2-3k?

Some people have already stated this... The money you get is YOUR money. If you overpay to the gov't then you get that money back.

part of my house (empty room for home office along with power and water)

You will be taxed on the room when you sell your house... I have looked at righting off my office about every year and it was not a good idea for me. Are you going to a CPA?

 

[snoopdan 5,000+ posts]

Be a irresponsible POS and not use condoms and keep having kids and expect the working class and government take care of you and your kids.....

so true. Kentucky residents probably get more moeny then any other state from income tax. The locals here have kids like rabbits and half the population is on social security benefits for stupid shit like Anxienty disorder and gets paid to sit at home and play Wii //content.invisioncic.com/y282845/emoticons/crap.gif.7f4dd41e3e9b23fbd170a1ee6f65cecc.gif

 

[MikeofTulsa Moderator]

Honestly, if you are getting 2k or more back in taxes you're an idiot. Why? Because you're paying too much during the year. That's money plus interest that should have been in your pocket not Uncle Sam's. So unless your income changes greatly from year to year you should have a rough idea of what you need to pay.

i honestly dont mind because the little bit of difference i'd make per paycheck isnt going to make a big difference at the end of the month. call me an idiot if you want, but im ok with a large refund rather than a small payout each paycheck

 

[shava 10+ year member]

i honestly dont mind because the little bit of difference i'd make per paycheck isnt going to make a big difference at the end of the month. call me an idiot if you want, but im ok with a large refund rather than a small payout each paycheck

X2

 

[DBfan187 5,000+ posts]

$427 //content.invisioncic.com/y282845/emoticons/crap.gif.7f4dd41e3e9b23fbd170a1ee6f65cecc.gif

 

[jrdbrn 10+ year member]

Full time student.. parents still can claim at 22 which gives back more money, which they in turn give to me. It's a win win for both them and I. They usually get back 300 more and I get back about 500 more

I am getting $2300 this year

 

[newusername 10+ year member]

I will probably have to pay-in, but that's not a big deal. Better than someone else holding my money for me.

 

[Flipx99 5,000+ posts]

i honestly dont mind because the little bit of difference i'd make per paycheck isnt going to make a big difference at the end of the month. call me an idiot if you want, but im ok with a large refund rather than a small payout each paycheck

But it will make a big difference at the end of the year. Even risk free, you are looking at 5%.

 

[filtor1 10+ year member]

You can actually estimate your expected return based on your income. My wife and I personally try to get a return of zero by adjusting how many claims we have. This is the first year we have owned a home and we weren't sure how o account for the writeoff amount of the house. We will be getting back just under 2K. I would rather have that money through the year than give it to someone else to use to invest and earn interest on it. When the wife and I were both working, we would use that same method of estimation and estimate the dollar amount of what we should have paid and divide by 12 and fund a portion of our IRA's with the money. If it exceeded the amount we could put into that account, we put the remainder in a money market.

Getting a big return isn't a good thing. Unless you are not good at money management.

 

[babaganoush123 10+ year member]

cause the gov. is thinkin were gonna put it or spend it all back in the econemy but most are saveing it.