Tax Refund
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The Pacifier
Joined: Jan 2003
Posts: 8,245
Likes: 7
From: Cloverdale, BC
Tax Refund
Hey people.
I just finished filing mine and my wife's taxes for last year. Between the two of us, we're getting about 400 bucks.
Knowing her, she's already got plans for it. Something about updating the kitchen floor. Ha ha.
Anyone else expecting a refund?
I just finished filing mine and my wife's taxes for last year. Between the two of us, we're getting about 400 bucks.
Knowing her, she's already got plans for it. Something about updating the kitchen floor. Ha ha.
Anyone else expecting a refund?
Post Fiend
Joined: Jan 2003
Posts: 10,323
Likes: 2
From: Montana Territory
Paid too much.
Now you do realize that you didn't make any interest on that money the gub'ment was holding
CowboyBilly9Mile has an excellent explanation for this, I hope he pokes his head in here.
Now you do realize that you didn't make any interest on that money the gub'ment was holding
CowboyBilly9Mile has an excellent explanation for this, I hope he pokes his head in here.
Tuned
Joined: Jan 2003
Posts: 377
Likes: 0
I laugh when I hear about people talk about the $9 you could have made on interest for overpaying. Me and the wife got $4000 back this year. We budget it out all year so it's a real nice bonus at the end of every year. The interest don't add up to crap. We actually have a few extra $$$ taken out of every check so we get a bigger check in February. Kind of nice
Senior User
Joined: Mar 2004
Posts: 246
Likes: 0
Yep. I am always broke come tail end of winter. Dead season at work. It is a nice suprise to be able to pay bills after christmas.
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Post Fiend
Joined: Jul 2003
Posts: 11,945
Likes: 3
From: Spokane, WA
$2500 back for me but I got it about 2 month ago and don't know where I put it. Actually I bought central air for the house. Wanted to blow it on the truck but didn't want to bake all summer so I made the "responsible" choice with my money. Can't believe I have to wait another 9 months to do that again.
Actually I bought central air for the house. Wanted to blow it on the truck but didn't want to bake all summer so I made the "responsible" choice with my money. Can't believe I have to wait another 9 months to do that again.
Post Fiend
Joined: Apr 2002
Posts: 7,157
Likes: 1
From: Central Kali
Bigrig, thanks for reminding me to start thinking about doing my tax return. The way it should work is to abolish withholding. Then on April 15th you would just write one big check. The uproar this would cause would get the system changed. But then we are all a bunch of sheep. 
Posting Guru
Joined: May 2001
Posts: 1,082
Likes: 0
$5000 for us. It's difficult to estimate your deductions for the year in order to file a new W4 form to withhold less federal taxes. We always get a refund despite paying less tax. It pays to own a home and have kids. (sometimes)
Elder User
Joined: Nov 2003
Posts: 681
Likes: 0
From: Springfield, IL USA
I know that many people use the IRS as a "forced" savings plan by having extra withheld and then getting a "chunk" back in the spring. I also realize that interest these days is not much so it is no big deal giving your money to the feds before yo have to. I just DO NOT like the idea of giving a government my money before it is absolutely necessary. Therefore, because I have the minimum withheld, I almost never get money back and usually owe more. I bank my money anticipating paying in April. This year I owe $2,600 on April 15th. Last year I owed $9,000 but there was some very special circumstances around last year's taxes (it simply means I made enough money to warrant a higher tax). Yeh, it hurts to write the check but I plan for it and at least I have that money in my possession through out the year and get a small amount of interest! To each his own!
Posting Guru
Joined: Sep 2003
Posts: 2,231
Likes: 0
From: Valley of the Sun AZ
We are getting back about $6,000 and I like to have something coming back rather than, in one year that I bought my house, had to pay $4,000. OMG that was a bad year/good year. Renting is bad, becuase you do not get that deducation and I agree about kids also, but they are also fun in other places. I should be getting it back any day now and I love e-filing.
Summer vaction and pay the truck off YEAH!!!!!!!!!!!
Summer vaction and pay the truck off YEAH!!!!!!!!!!!
Post Fiend
Joined: Mar 2003
Posts: 14,413
Likes: 3
From: Sarnia, Ontario, CANADA!
I am going to get $1700 back from my beloved Canadian Government if I did my taxes right. My wife has to pay $86 HAHAHA! Except she will make me pay it! DOH!
We plan on buying a house in the next few months so this will get the ball rolling.
-Matt
My wife has to pay $86 HAHAHA! Except she will make me pay it! DOH!We plan on buying a house in the next few months so this will get the ball rolling.
-Matt
Post Fiend
Joined: Feb 2003
Posts: 6,940
Likes: 2
From: Eastern WA
Originally posted by Mattsbox99
Paid too much.
Now you do realize that you didn't make any interest on that money the gub'ment was holding
CowboyBilly9Mile has an excellent explanation for this, I hope he pokes his head in here.
Paid too much.
Now you do realize that you didn't make any interest on that money the gub'ment was holding
CowboyBilly9Mile has an excellent explanation for this, I hope he pokes his head in here.
If you underpay the infernal revenue "service", they will slap you with a penalty. Well, if I had my way we the people should be able to penalize them for accepting overpayments, replete with the same percentage interest they charge the public if a taxpayer carries a balance due.
Last edited by CowboyBilly9Mile; Mar 23, 2004 at 03:28 PM.