I never got a huge incom tax return

[atlien seeko]

But I want to. At least once.

I know there are people who argue it's good to get your money up front, but I always feel like that kid that got stupid gifts for Christmas during incom tax season.

What am I doing wrong?

School me on filing taxes.

 

[doublejs07]

Home ownership helps a lot.

Be patient.

 

[regal black]

did you go to school last year?

 

[natrix916]

incomE


I stay gettin between 1 and 2k every year

 

[rockenjayz247]

ive wanted to know this to! I claimed myself last year and got only 1500...can you guy help me and tell me if i screwed myself up last year!
Last year i made about 18,000, school for the whole year with books was about 2500 (community college), no dependents just me, shouldn't i have at least got back my school money( told by several people) and i only ended up with 1500..did i mess up somewhere!???!

 

[tj detweiler]

in 2010 i only worked 4 months (still going to school) and for about 450 back, in 2011 I worked the same job all year and suppose to be getting 550ish back. Am I doing something wrong? Like whats up with that.

 

[a55a5in11]

to get the max claim 0, have kids, and buy a house, and donate alot

 

[oh you mad]

I'm not trying to get audited. The feds are watching

 

[shoehead117]

Anyone ever get back more if they have a dependent?

 

[buggz05]

Any info for independent contractors?

 

[lpheat22]

In 2010 I worked 6 months, made 15k, claimed 0 and got 2k back last April. I didn't go to school in 2010. If everything goes well I'm hoping tiger about 4k back this year since I made 35k last year and claimed 0 again. Our family tax guy is really good in order to get a decent appointment you have to call in oct-nov. and walking in isn't even an option. I also did about 8k in ot I believe possibly more.

 

[slow motion g35]

PM me if you need tax help, or filing

 

[luckyluchiano]

wait we get less if we were in school?

 

[4u2c]

1st. If your in school and you didnt have to pay any taxes when you did you last year return or this year return then you know you can select on employment tax form a option not to have FED taxes taking out of your check. You can claim exemption from tax withholding since you always get back the taxes you pay.

2nd Claiming 0 doesn't help any. All that does is take more taxes out of your check. IF your claiming a kid or house ro what not your not going to see a big difference from claiming 0 to claiming 3.

If you pay your tuition that is is tax deductible. Its called the hope credit and lifetime credit I think. Something like that

3. Donating is not going to save you any money Your just going to get back the money you donated.

When i was in school and working I claimed exemption from Federal taxes because when I always did my income tax I never had to pay taxes and got it all back.

 

[regal black]

Originally Posted by 4U2C

1st. If your in school and you didnt have to pay any taxes when you did you last year return or this year return then you know you can select on employment tax form a option not to have FED taxes taking out of your check. You can claim exemption from tax withholding since you always get back the taxes you pay.

2nd Claiming 0 doesn't help any. All that does is take more taxes out of your check. IF your claiming a kid or house ro what not your not going to see a big difference from claiming 0 to claiming 3.

If you pay your tuition that is is tax deductible. Its called the hope credit and lifetime credit I think. Something like that

3. Donating is not going to save you any money Your just going to get back the money you donated.

When i was in school and working I claimed exemption from Federal taxes because when I always did my income tax I never had to pay taxes and got it all back.

I believe thats what i fall on.  Went to school last year during the Spring and Fall and paid straight out of pocket.

 

[4u2c]

Originally Posted by Regal Black

Originally Posted by 4U2C

1st. If your in school and you didnt have to pay any taxes when you did you last year return or this year return then you know you can select on employment tax form a option not to have FED taxes taking out of your check. You can claim exemption from tax withholding since you always get back the taxes you pay.

2nd Claiming 0 doesn't help any. All that does is take more taxes out of your check. IF your claiming a kid or house ro what not your not going to see a big difference from claiming 0 to claiming 3.

If you pay your tuition that is is tax deductible. Its called the hope credit and lifetime credit I think. Something like that

3. Donating is not going to save you any money Your just going to get back the money you donated.

When i was in school and working I claimed exemption from Federal taxes because when I always did my income tax I never had to pay taxes and got it all back.

I believe thats what i fall on.  Went to school last year during the Spring and Fall and paid straight out of pocket.

Yea I always claimed it every year.
Never paid taxes while i was in school and did this legally
http://www.irs.gov/publications/p970/ch03.html

http://www.irs.gov/faqs/faq/0,,id=199791,00.html

 

[thehealthinspector]

be glad you havent, youre loaning the government money at no interest

 

[a55a5in11]

Originally Posted by 4U2C

1st. If your in school and you didnt have to pay any taxes when you did you last year return or this year return then you know you can select on employment tax form a option not to have FED taxes taking out of your check. You can claim exemption from tax withholding since you always get back the taxes you pay.

2nd Claiming 0 doesn't help any. All that does is take more taxes out of your check. IF your claiming a kid or house ro what not your not going to see a big difference from claiming 0 to claiming 3.

If you pay your tuition that is is tax deductible. Its called the hope credit and lifetime credit I think. Something like that

3. Donating is not going to save you any money Your just going to get back the money you donated.

When i was in school and working I claimed exemption from Federal taxes because when I always did my income tax I never had to pay taxes and got it all back.

your number 2 is wrong. claiming 0 means they take out more, which means you get a higher return
and your number 3 basically supports what i said. you get that money back which is more money that what you would get with out the donations. dude asked for a way to get high returns. your acting like their is a way to get free money.

 

[hellaones]

Originally Posted by ATLien Seeko

But I want to. At least once.

I know there are people who argue it's good to get your money up front, but I always feel like that kid that got stupid gifts for Christmas during incom tax season.

this..also felt the same when all my friends would get refund checks 

 

[gutta bob]

What happens if you go to school but get financial aid?

Isn't the interest from loans tax deductible?

What else is deductible from a student standpoint?

 

[oidreez]

Originally Posted by ShoeHead117

Anyone ever get back more if they have a dependent?

yup. look up the earned income tax credit on wikipedia. 

 

[flipnkraut]

If you're not getting a huge tax return, that means you're doing it right. Everyone who gets more than $200 for their tax return is doing it WRONG. Why would you want to let the government hold your money interest free for a year?

at everyone thats happy about getting a huge tax return.

 

[All Ready]

Originally Posted by FlipnKraut

If you're not getting a huge tax return, that means you're doing it right. Everyone who gets more than $200 for their tax return is doing it WRONG. Why would you want to let the government hold your money interest free for a year?

at everyone thats happy about getting a huge tax return.

whether it's better or not, seeing your friend holding a check for 8k while you twirl your 200 dollar check can be a tad bit disheartening

it's like valentines day and you don't have a significant other, you may have been fine the whole year but that one day is a sad sight to see

 

[pushak513]

Originally Posted by FlipnKraut

If you're not getting a huge tax return, that means you're doing it right. Everyone who gets more than $200 for their tax return is doing it WRONG. Why would you want to let the government hold your money interest free for a year?

at everyone thats happy about getting a huge tax return.

Thats how I feel about it I would rather have it on my checks than a big return at once. I know there is a way to make it so the end of the year you get nothing and owe nothing. I work so much over time though that I can't really get it to work out right.. between state and FED they took like 5500 this year. don't know how much I get back but whatever it is it would have helped me more at the time than this check there gunna send me

 

[kaycurrency]

I'm a new home owner, Hopefully I get a few racks back -Rick Ross grunt-