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View Full Version : So, in exchange for an extra $16.00 in my bi-weekly paycheck . . .



JoeEkaitis
02-01-2010, 08:42 AM
. . . I earned the privilege of owing $239.00 on my federal income tax.

If I give back the hope, can I keep the change?

jennontheisland
02-01-2010, 08:50 AM
$16 biweekly is 416 over the course of a year.

Looks to me like you're up by $177.

What am I missing?

James81
02-01-2010, 07:45 PM
I, on the other hand, am getting over $3000 back. :D

ad_lucem
02-01-2010, 07:51 PM
I, on the other hand, am getting over $3000 back. :D

Hmmm...just which elected official are you blackmailing?

Seriously, how 3k? Our tax return shrank this year. On the bright side, we only owe state and fed we're still getting back. But, still...

kayleamay
02-01-2010, 07:59 PM
I'm getting the biggest tax return I have ever received in my life this year. Thank you Mr. President.

ad_lucem
02-01-2010, 08:14 PM
I'm getting the biggest tax return I have ever received in my life this year. Thank you Mr. President.

Good for you. I need to know the secret, I guess. We're in a lower tax bracket, my income for this year was negligible and we've got 3 kids. So, I don't have a clue as to why our tax return this year is half what it was last year.

:Shrug:

kayleamay
02-01-2010, 08:23 PM
The tax brackets were raised, so I ended up paying less in taxes even though they withheld almost the same amount as last year, plus I qualified for a few of those nifty credits. All in all, my return + credits = smiling taxpayer.

If your income went down last year, your withholding no doubt did too. Maybe your return is less because not as much was withheld?

ad_lucem
02-01-2010, 08:43 PM
The tax brackets were raised, so I ended up paying less in taxes even though they withheld almost the same amount as last year, plus I qualified for a few of those nifty credits. All in all, my return + credits = smiling taxpayer.

If your income went down last year, your withholding no doubt did too. Maybe your return is less because not as much was withheld?

Could be, we've been trying to dump a lot into the work flex-spending for medical which comes out pre-tax. So the taxable earnings would have dropped I guess.

I'm not clued in to tax matters. Honestly, I feel like a Bubba when it comes to the taxes.

I know I like paved roads and libraries, but I still hate tax season. Especially, knowing that the bankers and bill collectors who routinely screw everyone over are getting some of what we're paying.

backslashbaby
02-02-2010, 07:12 AM
There are so many people complaining about this tax break. What's with that? The whole figuring taxes and witholding is always a pain, true.

I'm sure they would've taken back the money if you didn't want it :D

benbradley
02-02-2010, 08:26 AM
There are so many people complaining about this tax break. What's with that? The whole figuring taxes and witholding is always a pain, true.

I'm sure they would've taken back the money if you didn't want it :D
I keep trying to tell that to Warren Buffet who says his secretary pays a higher percentage of tax than he does (because it's her income tax vs. his capital gains tax) and he was a bit upset about "not paying his fair share." Write the US Treasury a check, send it in, and see if they deposit it. I betcha anything they do.

WildScribe
02-02-2010, 08:43 AM
Too many things I'm still waiting for... I'm nervous about this year. We foreclosed, and I have no idea what that does to your tax stuff...

MattW
02-02-2010, 08:43 AM
Trying to work mine out now, but it looks like a big refund.

I did change my withholding after owing last year, so it's understandable. Somehow, the whole refund is already spent - fixing car to pass inspection, paying off a short term loan, starting baby's college fund.

I didn't get many tax breaks this year, except for the bundle of interest and state property taxes I paid.