V.2014 ITS BALLING SEASON AGAIN.....TAXES!!! Where you doing yours?

[MetalMario]

hey just throwing it out there now for the college kids that make sure you get your American Opportunity credit for 4 years now after secondary school (high school) instead of the normal 2 now so you can get that extra money as well. but to do that make sure you get your 1098 form from your school which tells you how much you spent on tuition and books. most established good schools will mail it to you others if it takes to long either print them online or go to school to ask.

also the IRS aren't accepting forms until the 31st so if u did it before hand your money wont come for a while

 

[-41-]

@Superb  Man i feel like such a dumbass ive been claiming 0 for forever

, Im going to start claiming 2, im changing that **** tomorrow. Is there going to be a big difference in my check by claiming 2 or is it going to be small? 

One more question, so its basically the same claiming 0 to claming 2? The only differnence being is that whane you claim 2 youre getting the money now insted of waiting till the end of the year to get it on your tax return?

 

[adobecs4]

So. I'm a college student who is still living at the crib and I claim 0. Why should I change on my w4 to get more $$$$ every check?

 

[adobecs4]

 
@Superb  Man i feel like such a dumbass ive been claiming 0 for forever

, Im going to start claiming 2, im changing that **** tomorrow. Is there going to be a big difference in my check by claiming 2 or is it going to be small? 

One more question, so its basically the same claiming 0 to claming 2? The only differnence being is that whane you claim 2 youre getting the money now insted of waiting till the end of the year to get it on your tax return?

I would like to know this. I'm need that extra $$$ every check

 

[youngtriz]

i barely broke 50k this year... took way too much time off... blew through 140 hours of vacation and 92 of sick pay... and i only work 15 days a month

Nurse?
That sounds precisely like my job.

naw... i do some manufacturing job where i press buttons, do paperwork, and surf NT... i work 12s graveyard shift though... wifey told me to stop calling in on random *** days

 

[adobecs4]

So. I'm a college student who is still living at the crib and I claim 0. Why should I change on my w4 to get more $$$$ every check?

What*

 

[jking0821]

 
@Superb
 Man i feel like such a dumbass ive been claiming 0 for forever , Im going to start claiming 2, im changing that **** tomorrow. Is there going to be a big difference in my check by claiming 2 or is it going to be small? 


One more question, so its basically the same claiming 0 to claming 2? The only differnence being is that whane you claim 2 youre getting the money now insted of waiting till the end of the year to get it on your tax return?

I would like to know this. I'm need that extra $$$ every check

Yep.

I am single work one job...i claim 2. I normally get a return of around $100....due to college loan interest being deducted from my taxable income. Otherwise id probably break about even.

 

[rocman23]

i don't know how this keeps happening but i tried to do my taxes using turbotax and apparently i owe the feds 785 dollars. I really just don't understand how this keeps happening

How much did you gross this year and how much fed tax did they take out and what did you claim 0? and we can figure it out

Actually now that I looked at my W-2's more in depth t says that I have 3 allowances/exemptions. I always thought I carried 0 because I'm so use to doing that. I think that when I moved to NY I bumped it to 3 instead of 0 so I could have more in my checks but I just forgot about it. What's the tax percentage difference if I were to drop down to like 2, 1, or 0 exemptions?

 

[sonoftony]

with this year's refund, I'm paying down my CC and stashing the rest.

 

[freshpairs]

only reason I like claiming zero is because if I dont and get more money in my checks then I spend it

 

[stillin729]

you sound stupid as hell right now

don't know **** about the situation but chiming in like you got all the answers Sway... 

was out of school for a year or so .... loan was paid back with the return alone, nothing out of pocket... so obviously wasn't that much left on the debt in the first place 

Well considering it's what I do for a living; I do know what I am talking about so would you like to explain how you ignored the duty of paying back a loan and the government had to garnish your tax return or do I still not know what I am talking about?

 

[011781]

Well considering it's what I do for a living; I do know what I am talking about so would you like to explain how you ignored the duty of paying back a loan and the government had to garnish your tax return or do I still not know what I am talking about?

no, you don't know what you're talking about 

you assumed i was ducking the loan... i was under the impression i had more time to pay it off... i hadn't been out of school that long 

balance was under $3k, *****

 

[stillin729]

no, you don't know what you're talking about 

you assumed i was ducking the loan... i was under the impression i had more time to pay it off... i hadn't been out of school that long 

balance was under $3k, *****

More time?

You get plenty of time before a default gets so bad that the government garnishes a tax return; it's the last resort

 

[011781]

More time?

You get plenty of time before a default gets so bad that the government garnishes a tax return; it's the last resort

i was 21 when the loan was paid off Sway... 

how young do you think i was when i started college?

 

[stillin729]

i was 21 when the loan was paid off Sway... 

how young do you think i was when i started college?

What is your point? While you weren't paying our taxes were

Sounds like you went at 18 and didn't pay for 3 years

 

[011781]

What is your point? While you weren't paying our taxes were

Sounds like you went at 18 and didn't pay for 3 years

didn't pay for 3 years and ended up with a balance well under $3k for out of state tuition at a D1 University? 

right... 

Sway, just stop.... 

 

[clarkchaz1988]

with this year's refund, I'm paying down my CC and stashing the rest.

Pretty much the same here. The days of me depositing my refund in my checking account are over. CC and savings account for me.

 

[nawghtyhare]

Awww, it must be late January! Welcome to tax season everybody!
I would encourage you all to do your best to learn to understand your tax situations. It is an ugly myth that individuals NEED help figuring out or understanding their taxes. It's YOUR money, and when you figure out how all of these rules and codes and processes affect you it allows you to make more intelligent informed decisions.

Shouts to Superb and Mario for doing their best to help everybody out. I would like to caution EVERYBODY from seeing advice or general information on an internet forum and taking it as the honest gospel truth about what is going on with their own specific situation. in the following pages, you will see a lot of assumptions and guesses, and sweeping generalizations. do not be misled! if you have a question about your own situation, the best people to speak with are paid professionals, your own human resource reps, customer service support for the products you're using, and ultimately representatives of the tax authority that you want to ask about. that being said, if you phrase your question right, you will be able to find your OWN answers online. taxes are not a secret, but they are a language that most people don't speak fluently.

so let's try and get this bit of language cleared up right away...

RETURN: this is the form/paper/electronic filing that you fill out. (the thing you file)
REFUND: this is the overpaid credit you have available to receive (the money you get)


now, let's try and help an NT'er out.

i don't know how this keeps happening but i tried to do my taxes using turbotax and apparently i owe the feds 785 dollars. I really just don't understand how this keeps happening

Sir, may i ask, do you work for multiple employers?

i swear i only see u around tax season
repped though for all the advice ur always willing to share with us

 

[nrg1604]

 
@Superb
 Man i feel like such a dumbass ive been claiming 0 for forever , Im going to start claiming 2, im changing that **** tomorrow. Is there going to be a big difference in my check by claiming 2 or is it going to be small? 


One more question, so its basically the same claiming 0 to claming 2? The only differnence being is that whane you claim 2 youre getting the money now insted of waiting till the end of the year to get it on your tax return?

I would like to know this. I'm need that extra $$$ every check

You end up paying the same amount of tax, since it's dependent on your yearly gross earning sans deductions/exemptions and what not. Only difference is timing of payments. Pay more during the year = more refund. Pay less during the year = less refund/owe money. I rather have more $ on my checks than a big refund.

 

[legreyfoxx]

What*

i need to know too. i'm in the same boat.

 

[superb]

 
@Superb  Man i feel like such a dumbass ive been claiming 0 for forever

, Im going to start claiming 2, im changing that **** tomorrow. Is there going to be a big difference in my check by claiming 2 or is it going to be small? 

One more question, so its basically the same claiming 0 to claming 2? The only differnence being is that whane you claim 2 youre getting the money now insted of waiting till the end of the year to get it on your tax return?

exactly. i never claim 0 and i never owed. it does say on the w4  for enter 1 for yourself, enter 1 if you only have one job so that would be 2

 

[superb]

naw... i do some manufacturing job where i press buttons, do paperwork, and surf NT... i work 12s graveyard shift though... wifey told me to stop calling in on random *** days

she need her time with the other one

 

 

[superb]

What is your point? While you weren't paying our taxes were

Sounds like you went at 18 and didn't pay for 3 years

so what i hevent paid mines in 10 years economy is bad sorry

 

[stillin729]

so what i hevent paid mines in 10 years economy is bad sorry

It'll catch up to you

 

[superb]

There is a tax place here that will give me a advance same day i come in. Going to check it out tommorow. They wouldnt give me prices over the phone but I'm going to walk in and check and make sure I get a price before we sit down