TAX SEASON APPRECIATION!!! What are you doing with your withheld money?

[tony harris]

Originally Posted by Do Be Doo

KayCurrency wrote:

---

humpasaurus rex wrote:

---

I just received my W2 and tomorrow I'm going to hit my accountant up.  

  I'm going to use it towards my braces 

That made me laugh hard as hell...


I can just picture the excitement on your face as you typed this...crooked teeth and all



  Damn.

OP working on improving himself. Cant be mad at him.

  

Back to the topic...

I'm a student with an "under the table" job, so my grandmother is claiming me...


I'll use some of the money for my car-note, and stash the rest of it for the 2011 holiday season (CONCORDS

) 


I also just got my tuition reimbursement $2075 FTW

 

[mustbefire]

I will be learning to prepare taxes with pops. Keeping it in the family FTW.

 

[mustbefire]

I will be learning to prepare taxes with pops. Keeping it in the family FTW.

 

[JayDean03]

Vacation
All my bills
Prolly some sneaks
Stuff for the whip.

 

[JayDean03]

Vacation
All my bills
Prolly some sneaks
Stuff for the whip.

 

[size 15 please]

Originally Posted by 1C3M4M

Macbook n a new jacket, rest is uncle philip banks

Which Macbook are you planning on getting? I'm going for the $999 notebook. I've seen tons of good reviews and heard nothing bad about it. My 2nd option is that HP Envy Beats by Dre laptop

 

[jdi23]

Quick question. If I paid money last year does that mean that I will get a nice return this year? I was a little heated when I had to pay last year.

 

[jdi23]

Quick question. If I paid money last year does that mean that I will get a nice return this year? I was a little heated when I had to pay last year.

 

[size 15 please]

Originally Posted by 1C3M4M

Macbook n a new jacket, rest is uncle philip banks

Which Macbook are you planning on getting? I'm going for the $999 notebook. I've seen tons of good reviews and heard nothing bad about it. My 2nd option is that HP Envy Beats by Dre laptop

 

[villansfinest]

do you mean that you had to pay last year because you didn't have enough money withheld from your paycheck?
if that's the case, and you didn't make any changes, you'll probably have to pay again.

do you mean that you made estimate payments last year above and beyond any amounts withheld from your employer?
that might mean that you get a refund this year.
you usually only get a refund when the government has too much of your money. this is what a few other people here are talking about in regards to giving the government a loan for the whole year.

most of the tax laws remain the same from year to year, and there's nothing drastically different about the changes made for this year.

 

[villansfinest]

do you mean that you had to pay last year because you didn't have enough money withheld from your paycheck?
if that's the case, and you didn't make any changes, you'll probably have to pay again.

do you mean that you made estimate payments last year above and beyond any amounts withheld from your employer?
that might mean that you get a refund this year.
you usually only get a refund when the government has too much of your money. this is what a few other people here are talking about in regards to giving the government a loan for the whole year.

most of the tax laws remain the same from year to year, and there's nothing drastically different about the changes made for this year.

 

[maserati harm]

Originally Posted by Young Street86

Originally Posted by MASERATI HARM

Originally Posted by Young Street86

If you are getting a huge sum back (like the guy above me getting 8k) have you considered changing your with holdings at your job? Giving the gov't a int. free loan of that size may be avoidable. You can have the money to spend throughout the yr. instead of getting it back up to 1yr. later at lesser value.

*steps off of soap box*

I am going to throw 90% into the move out the house fund and the other 10% will be blown to help "stimulate the economy."

You mean as far as more dependents and exemptions?



Yes ..




But I don't have the 1st clue about it and I don't wanna screw myself over

Well that all depends on what has taken place in your life. You mentioned two dependents, that can cause for bigger deductions/credits and possibly a new w-4 to lower withholdings(if you just took them on). Idk how much you make a yr. but 6k seems like a lot. For simplicity sake a 6k refund could have been an extra $236/check for you to have. (I think that math is right 

)


Who does your taxes? I'm not sure how tax savvy you are but go on irs.com and check some stuff out. You'd be amazed at some of the stuff you can take that you may not have known about. 

Now lets get down to business....You gonna let me hold sum'n of that check right 

I been doing my own Taxes for the last 3 years  using Tax Act 



I claim my son every year .. And another child  ...




My Cousin has been doing the same thing for  3 years .. 




Only thing is he claims 0 dependents thru the year (gets more taxes taken out .. )




get an 8k refund every year ..plus he makes more




So yea .. I'm good 

 

[maserati harm]

Originally Posted by Young Street86

Originally Posted by MASERATI HARM

Originally Posted by Young Street86

If you are getting a huge sum back (like the guy above me getting 8k) have you considered changing your with holdings at your job? Giving the gov't a int. free loan of that size may be avoidable. You can have the money to spend throughout the yr. instead of getting it back up to 1yr. later at lesser value.

*steps off of soap box*

I am going to throw 90% into the move out the house fund and the other 10% will be blown to help "stimulate the economy."

You mean as far as more dependents and exemptions?



Yes ..




But I don't have the 1st clue about it and I don't wanna screw myself over

Well that all depends on what has taken place in your life. You mentioned two dependents, that can cause for bigger deductions/credits and possibly a new w-4 to lower withholdings(if you just took them on). Idk how much you make a yr. but 6k seems like a lot. For simplicity sake a 6k refund could have been an extra $236/check for you to have. (I think that math is right 

)


Who does your taxes? I'm not sure how tax savvy you are but go on irs.com and check some stuff out. You'd be amazed at some of the stuff you can take that you may not have known about. 

Now lets get down to business....You gonna let me hold sum'n of that check right 

I been doing my own Taxes for the last 3 years  using Tax Act 



I claim my son every year .. And another child  ...




My Cousin has been doing the same thing for  3 years .. 




Only thing is he claims 0 dependents thru the year (gets more taxes taken out .. )




get an 8k refund every year ..plus he makes more




So yea .. I'm good 

 

[atlien seeko]

Again, how do you know how much you're getting back before you file?

 

[atlien seeko]

Again, how do you know how much you're getting back before you file?

 

[villansfinest]

I'm involved with tax issues all day long, so i happen to think of my own situation and how it might be affected by whatever i'm working on.

that being said, it can be quite easy to know the specific details about your taxes at any time throughout the year. government agencies have access to rates, and credit amounts online. just keep all of your pay stubs, add up your year to date earnings and withholdings, and run through the forms yourself.

most simple situations can be calculated in a few minutes.

 

[villansfinest]

I'm involved with tax issues all day long, so i happen to think of my own situation and how it might be affected by whatever i'm working on.

that being said, it can be quite easy to know the specific details about your taxes at any time throughout the year. government agencies have access to rates, and credit amounts online. just keep all of your pay stubs, add up your year to date earnings and withholdings, and run through the forms yourself.

most simple situations can be calculated in a few minutes.

 

[jayhood23]

if you have two jobs do you get more back?

 

[jayhood23]

if you have two jobs do you get more back?

 

[purpl3vanz]

use as a deposit to move into a new place

 current one doesnt do my financial situation any justice

 

[purpl3vanz]

use as a deposit to move into a new place

 current one doesnt do my financial situation any justice

 

[atlien seeko]

Safe to assume I will be getting back the amount under "tax deductions" on my check?

 

[atlien seeko]

Safe to assume I will be getting back the amount under "tax deductions" on my check?

 

[rezzurrectme]

Originally Posted by MASERATI HARM

Originally Posted by Young Street86

If you are getting a huge sum back (like the guy above me getting 8k) have you considered changing your with holdings at your job? Giving the gov't a int. free loan of that size may be avoidable. You can have the money to spend throughout the yr. instead of getting it back up to 1yr. later at lesser value.

*steps off of soap box*

I am going to throw 90% into the move out the house fund and the other 10% will be blown to help "stimulate the economy."

You mean as far as more dependents and exemptions?



Yes ..




But I don't have the 1st clue about it and I don't wanna screw myself over

Off topic......your avy my good sir is..............

 

[rezzurrectme]

Originally Posted by MASERATI HARM

Originally Posted by Young Street86

If you are getting a huge sum back (like the guy above me getting 8k) have you considered changing your with holdings at your job? Giving the gov't a int. free loan of that size may be avoidable. You can have the money to spend throughout the yr. instead of getting it back up to 1yr. later at lesser value.

*steps off of soap box*

I am going to throw 90% into the move out the house fund and the other 10% will be blown to help "stimulate the economy."

You mean as far as more dependents and exemptions?



Yes ..




But I don't have the 1st clue about it and I don't wanna screw myself over

Off topic......your avy my good sir is..............