As Tax Day Approaches...

#26
#26
burntorangeVOLffle said:
When I was 20 I must have filed my w-9 wrong at my job. They weren't taking any taxes out which was nice week to week but I got an unexpected $600 bill at the end of the year. Was not prepared and learned a good lesson. Always let the employer take out the full amount.

Anyway... this year we got back about 1300 less than last year. That was disappointing.
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You do realize a refund is your money right? When you get a refund that's just the goverment paying back the interest free loan you gave them.

It does not take an exceptionally complex calculation to figure out what you're going to owe each year. Once you figure it you can drop your withholding to cover that amount. I'd rather owe $50 than get a $1000 refund. That's money I could have invested or spent on something else.
 
#31
#31
Orange_Vol1321 said:
On a side note do you all use your own tax software? Been using H&R block (in office) for the past few years costing $189 to get them done. Thinking of buying Turbo Tax software Friday and doing them myself.
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H & R block is a rip off big time. They advertised free filing this year if you have a simple return. I had 1 W2, and only "itemized " my mortgage interest, & the charged me $198. Was in the office for all of 15 mns.

I even asked the lady up front about the pricing & she told me it was free if it was a simple file. I'll never use them again
 
#32
#32
the_todd said:
H & R block is a rip off big time. They advertised free filing this year if you have a simple return. I had 1 W2, and only "itemized " my mortgage interest, & the charged me $198. Was in the office for all of 15 mns.

I even asked the lady up front about the pricing & she told me it was free if it was a simple file. I'll never use them again
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Well the free is usually only for an ez form. Don't believe you can itemize and do the ez. Should have just used their software online
 
#33
#33
Obsessed said:
Same here. I've used Turbo tax for roughly 20 years. Can't beat them.
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It blows my mind how big the tax preparation business is when everybody has internet access and there are products like that readily available.
 
#34
#34
IMHO it is the way our society is going. What is the value of me not having to worry about it? It's just a continuation of the progression from our grandparents never throwing anything away because they might need it to us buying disposable items because it's easier to replace it than fix it.
 
#35
#35
DancingOutlaw said:
You do realize a refund is your money right? When you get a refund that's just the goverment paying back the interest free loan you gave them.
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A lot of people never seem to get this. There's no value in a tax refund.
 
#36
#36
GAVol said:
A lot of people never seem to get this. There's no value in a tax refund.
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It amazes me how many people think it's like a benevolent gift from Uncle Sam. It's more like your cleaning lady taking a $20 from your wife's purse all year and putting it back the next April.

Also how many people say "I didn't owe this year" because their withholding was higher than the tax.
 
#39
#39
DancingOutlaw said:
You do realize a refund is your money right? When you get a refund that's just the goverment paying back the interest free loan you gave them.

It does not take an exceptionally complex calculation to figure out what you're going to owe each year. Once you figure it you can drop your withholding to cover that amount. I'd rather owe $50 than get a $1000 refund. That's money I could have invested or spent on something else.
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Fair point... but either way you get the money back to invest or spend at your leisure.

I'm self employees now so I personally have to pay regardless. Although my wife's refund generally covers it.
 
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