Taxes

[GeauxLSU]

From a financial sense standpoint, you should want to write the biggest check possible, that keeps you out of jail. Getting a big refund is the worst possible scenario. But yes, given recent interest rates, do whatever floats your boat.

 

[olchevy]

Your being penalized for succeeding. That's my gripe ...

Yep if I had made $200 less like I did last year I would be in a different tax bracket and would have got back about 1200-1500.

 

[DADI03]

I realize that it's an interest free loan to the gub but I look at it as forced savings. I normally get back around 7K.

 

[olchevy]

I realize that it's an interest free loan to the gub but I look at it as forced savings. I normally get back around 7K.

That's a lot though. At least to me, but I don't make much soooo...

 

[brutal]

that's irritating to say the least. she works full time I do too and she's in college part time. the school and work related expenses are our saving grace I guess.. where Labeefa is pumping out kids and works a day or two at McDonalds and gets $12k.

We're in a similar situation. Both working full time, she nights and distance learning the last few years with only one class left after the current one for her "upgrade" to BSN.

Good/bad/indifferent, we also have significant (private) student loan debt from her first degree earned 8 years ago (late in life) and also pay 2/3 of one of my son's loans, but now make too much to deduct any of it. My mortgage principal is pretty low and a super low 15 yr rate from a streamline same lender refi in 2012 so we don't get much benefit from that or the interest paid on the RV (considered a second home and deductible.) Consequently, I always end up writing a big fat check to the Treasury to help support all the low life leeches.

Great reward for busting our asses all these years. Best yet is that I'll probably be looking for work this year due to company changes beyond my control and a very dismal pipeline/forecast, and as a late boomer (56) with a niche and dated IT skill set, I'm finding the job prospects bleak. My only potential saving grace is that perhaps I can pay off my mortgage with the proceeds of company stock I contributed/earned after they rape me yet again on the taxes, and some meager savings. Probably have to sell off a few guns too.

 

[Badger]

Did mine that way before I retired, built my house with the money instead of sending it to the government to be spent to research the sex habits of Melanesian frogs , or build highways and bridges to nowhere.

 

[Woof]

My goal is to end up owing just less than the amount that would incur a penalty. Sometimes it works well, sometimes not so much.

 

[DADI03]

That's a lot though. At least to me, but I don't make much soooo...

It's a lot to me to. I've had two kids since I filled out my papers for work and have never bothered to change them.

 

[motorhead]

From a financial sense standpoint, you should want to write the biggest check possible, that keeps you out of jail. Getting a big refund is the worst possible scenario. But yes, given recent interest rates, do whatever floats your boat.

That's why I always have went up ten $ a year to the state so I will be ahead of them

 

[Labowski]

I'm self employed, save every receipt possible and always get ****ed by uncle Sam paying out about $3k every year. Have a 10 month old (which comes to the carlot every day with us), I will gladly take my refund this year.
I definitely agree that those whom do not work, shouldn't receive a refund. That's bull****.