How much is your tax return? (or how much do you owe?)

[MyOwnDrum]

Today is April 15th, I'm sure you all know. Sooooo???? How did you all fare?

 

[molten_dragon]

I got about $2400 back from the federal government, and paid about $200 to the state.

 

[Lord Tammerlain]

Getting back $600 CAD

Without adding more to RRSP's and a charitable donation I would have broken even

 

[emdash]

I'm getting between $250-300. Now I can afford to have my wisdoms pulled! I actually can't wait. They are wreaking havoc. :2razz:

 

[obvious Child]

As someone who works in one of the big four, many of the returns I've been doing have had a variety. Some owe a fair amount (read: 5 digits), some barely break even and some are getting pretty outrageous refunds.

 

[Zyphlin]

9K, due to the New Homeowner Credit.

 

[Ockham]

Getting back $4K from the Fed and approximately $300 from the State, mostly due to 2 rental property's and upgrades done this year.

 

[Slartibartfast]

I got about $5250 from the fed and I had to pay $200 to the state. The bulk of the return was because of education credits.

 

[StandUpChuck]

I don't think it was wise to make this a public poll. Anonymity and money work much better together.

We pay taxes every year.

 

[Tucker Case]

I owe, I owe, so it's off to work I go, I hate the feds, my savings dead, I owe, I owe, I owe I owe! :lol:

 

[Cephus]

We never owe, we always get back. This year it was close to $3000 state and fed combined.

 

[MyOwnDrum]

I don't think it was wise to make this a public poll. Anonymity and money work much better together.

We pay taxes every year.

You're probably right, too late now. Money is a touchy subject.

 

[lizzie]

I always over pay, and I get a small amount back. There's been no such thing as not paying federal income taxes in my entire life. I guess I should have had several kids, and should now be raising my grandchildren, and taken out a huge mortgage. I wasn't smart enough to do these things.

 

[Coronado]

We gave the Feds an interest-free loan of about $2,100 this year. Claimed a loss from some stocks and investment property.

Texas doesn't have an income tax, so we're square that way. We got ass-raped with property taxes though, as usual.

 

[MyOwnDrum]

Personally, I'm getting back over $4,000. I'm putting most of it into paying off the mortgage, ala Dave Ramsey. Also buying a Vitamix blender.

 

[earthworm]

$00.00 federal
$234 state
$1,100 local
But, what do you hear people cry about?
I'm "poor", the rich pay 2 and 3 times that..:mrgreen:

 

[TheGirlNextDoor]

Today is April 15th, I'm sure you all know. Sooooo???? How did you all fare?

Refund from Federal in the amount of Nunyadaymbizness - and I had to send a check to state in the amount of Greedybastards.

 

[Coronado]

Refund from Federal in the amount of Nunyadaymbizness - and I had to send a check to state in the amount of Greedybastards.

Is Kansas handing out IOU's instead of refunds again this year?

 

[TheGirlNextDoor]

Is Kansas handing out IOU's instead of refunds again this year?

They were waiting on the money I had to send them, to pay some other poor fool. Last I heard, they were 'delaying' some refunds. I fully suspect I wasn't the only poor slob that suddenly "owed" State this year. :? I don't make ****.. I really don't.

 

[TheGirlNextDoor]

I always over pay, and I get a small amount back. There's been no such thing as not paying federal income taxes in my entire life. I guess I should have had several kids, and should now be raising my grandchildren, and taken out a huge mortgage. I wasn't smart enough to do these things.

Why? Then you could be like me and wind up having to pay. Big myth that people with kids get an assload of money. :? I'm a single mom with two kids who reside with me full time and I have to pay. I could see it if I was a doctor or something that made a boatload of money... but I don't.

Someone in this thread said they were getting a refund of four grand? How the hell? I have the MAXIMUM taken out and claim NO dependants so they take a sizable chunk out of each check... and I still have to pay? WTF is up with that. Maybe it's because my state is so ****ed up.

 

[MyOwnDrum]

Why? Then you could be like me and wind up having to pay. Big myth that people with kids get an assload of money. :? I'm a single mom with two kids who reside with me full time and I have to pay. I could see it if I was a doctor or something that made a boatload of money... but I don't.

Someone in this thread said they were getting a refund of four grand? How the hell? I have the MAXIMUM taken out and claim NO dependants so they take a sizable chunk out of each check... and I still have to pay? WTF is up with that. Maybe it's because my state is so ****ed up.

I'm not sure why my return was so big this year. I have a tax preparer and leave it up to her. I claim minimal deductions in order to avoid having to pay. I did well last year in my paid job, and had a setback with a real estate contract I had, where I was forced to repossess and incur legal fees. As I say, I leave it up to my tax person. I was surprised at this windfall.

 

[Harry Guerrilla]

Why? Then you could be like me and wind up having to pay. Big myth that people with kids get an assload of money. :? I'm a single mom with two kids who reside with me full time and I have to pay. I could see it if I was a doctor or something that made a boatload of money... but I don't.

Someone in this thread said they were getting a refund of four grand? How the hell? I have the MAXIMUM taken out and claim NO dependants so they take a sizable chunk out of each check... and I still have to pay? WTF is up with that. Maybe it's because my state is so ****ed up.

You so don't want to know how much a lot of other people are getting.
I didn't say getting back but just straight up getting.

Do you do your own taxes or do you use software/account/etc?

Edit: Looking now you said you had to pay state, which makes sense.
States ,generally , have a lower tax threshold than the feds do.
It's based on local cost of living etc, 95% of the refunds people are getting are from the feds.

 

[obvious Child]

Someone in this thread said they were getting a refund of four grand?

That's actually kind of small compared to the returns I've seen.

I've seen 6 digit refunds where the first digit is more then 5. But usually that's on amended returns. Of course these people are also paying upwards of $100k in taxes. So $4k isn't that large.

How the hell?

Business loss. Usually not the passive kind. One return I work on goes from owing epic amounts to zero once the businesses losses are inputted.

I have the MAXIMUM taken out and claim NO dependants so they take a sizable chunk out of each check... and I still have to pay? WTF is up with that. Maybe it's because my state is so ****ed up.

Do you have anything other then dividends, interest and earned income?

 

[roguenuke]

We got a refund from the Fed for over $5K (I'm not going to provide the actual amount), and are expecting $1K from state. This is a good thing for us because now we don't have to worry about money while my husband is gone to training for rent and other bills. Sometimes it takes time for the military to start paying recruits. And I don't really work, although I am doing my Annual Training for the reserves while he is gone, so it will help too. Now we can pay off those we owe, and help out our family a little too.

 

[Coronado]

They were waiting on the money I had to send them, to pay some other poor fool. Last I heard, they were 'delaying' some refunds. I fully suspect I wasn't the only poor slob that suddenly "owed" State this year. :? I don't make ****.. I really don't.

Kansas City, KS, thanks you.