Taxes 2005

[Calliander]

So who filed their taxes already and who is getting a big return?

I was able to whittle mine down to less than $500. This is the first year I wasn't able to end up owing money and even though I like the fact that I was always owing on the 15th of April, it's not too bad to get a refund, I guess.

I just wish it had some interest. Heh.

[gamevet]

Filing joint return with my wife, we were able to get a return of $1825. My wife needs to file 0, when she's doing her status at work. We probably would have had a return near $3000, if only she would do so. Luckily, we were able to get exemptions through our home and her new vehicle lease for 2005.

Sadly, all the money will be used to pay our mortgage and several outstanding bills.

[Rhydant]

Haven't gotten around to filing mine yet, but I hope to get upwards of $600 back from Federal, and maybe $100 from State.

I just wish it had some interest. Heh.

Claim something like Single-10, and you'll have less taken out of your check each pay period. With that extra cash, throw it into a savings account. Earn interest on that so Uncle Sam doesnt. Easy.

[MarkRyan]

Haven't done 'em yet. At the beginning of the year, I had my W2 changed to have 0 deductions. Hopefully that helps. I always get so worried about the possibility of owing taxes that I tend to put off doing them forever...but maybe I'll be better this year.

[Yoshi]

Filing joint return with my wife, we were able to get a return of $1825. My wife needs to file 0, when she's doing her status at work. We probably would have had a return near $3000, if only she would do so. Luckily, we were able to get exemptions through our home and her new vehicle lease for 2005.

You realize that getting a huge refund is fucking stupid, right? You're giving the government an interest free loan. If you don't want to pay, which I understand, then shoot for $0. I managed to hit $25 on my federal taxes, which means I had more take hom all year and didn't give let the feds ear interest on my money.

Claim something like Single-10, and you'll have less taken out of your check each pay period. With that extra cash, throw it into a savings account. Earn interest on that so Uncle Sam doesnt. Easy.

I'm glad someone gets it.

[Rumpy]

Getting a few hundred back this year. Nothing major but welcome anyway.

[Rhydant]

I'm glad someone gets it.

I've been saying this shit for years, but everyones all like "no, its too much of a hassle blah blah blah." Pretty goddamn dumb if you ask me.

[mollipen]

I always get so worried about the possibility of owing taxes that I tend to put off doing them forever...but maybe I'll be better this year.

Do people like us actually end up owing money easily? I've heard people say this kind of thing often, but I've never, ever gotten even close to having to owe money. (Well, except for that year that GameFan was paying me but wasn't taking out any taxes.) If you're a single guy in your 20's or 30's, why would you ever worry about having to pay taxes, unless you're doing something shady?

Legit question here, because like I said, I've never even gotten close to having to pay, so I've never seen a reason to be worried about such an idea.

[kedawa]

Canada supposedly has more of a tax burden than the U.S., but I've never had to give the govt a cent.
I get a refund of a few hundred dollars every year, plus another $200 or so throughout the year, and I have no idea what the logic behind it is.
It's not really a refund, since I haven't given them anything, and someone has to be paying for it.

The shitty thing is that I have all these unused education deductions that are going to expire because I don't earn enough to have to pay the taxes to make them usable.
I can't even transfer them to anyone because my parents are deceased and I'm not married.
I guess I could always marry one of my tax-paying single friends and get some type of kickback.

[Yoshi]

Do people like us actually end up owing money easily? I've heard people say this kind of thing often, but I've never, ever gotten even close to having to owe money. (Well, except for that year that GameFan was paying me but wasn't taking out any taxes.) If you're a single guy in your 20's or 30's, why would you ever worry about having to pay taxes, unless you're doing something shady?

I owed money last year. It wasn't much... something like $375. It depends a lot on how you enter your deductions on your W4.