January 31, 201016 yr So who all has filed so far? This was my best one thus far and after my accountant(mom) told me how much I was getting back I had to do a little :dancingpa
January 31, 201016 yr Author I have filed, and did the same dance. Indeed it seems as though both Federal and State both increased the amount back for college students. This was really nice seeing as how my work cut our yearly tuition reimbursement considerably to where it doesn't even cover one semester any longer.
January 31, 201016 yr Filed last night... Very happy with my Federal total... State was worthless as it usually is for me. It could be worse though -- I could be paying.
January 31, 201016 yr Author Filed last night... Very happy with my Federal total... State was worthless as it usually is for me. It could be worse though -- I could be paying. My state is usually really low as well but apparently because of my being a student I got a bit more back this year. Like you said it's better than having to pay.
February 1, 201016 yr I filed about a week ago. But a couple days later I got a letter from the USDOE regarding my student loan interest paid, and I think it would be wise to refile, as I should get a bigger refund with that deduction factored in.
February 1, 201016 yr I really wish the government would enact some tax reform to the Alternative Minimum Tax (AMT). Dating back to its inception in 1969, the AMT was originally designed to prevent ultra-wealthy taxpayers from offsetting their incomes with big deductions. But because the AMT has been adjusted for inflation only twice in 30 years, it is now affects some 25% of Americans and is encroaching upon the middle class. While I appreciate the government's compliment of considering my wife and I as "rich" - especially since I am a federal employee - I really am not the type of person this tax was designed for. :irked::madman:
February 1, 201016 yr I no longer allow the government to use my money throughout the year and then reimburse me what they owe me in Feb/March. I would rather bring home more money on a monthly basis then get a big refund but I know others are different. BAsically all you are doing is giving the Government an interest free loan on your money. I try to figure out how many deductions I will have throughout the year and then figure out how much Fed tax I will owe and then change my withholdings usually every 3 months at a time.
February 1, 201016 yr I no longer allow the government to use my money throughout the year and then reimburse me what they owe me in Feb/March. I would rather bring home more money on a monthly basis then get a big refund but I know others are different. BAsically all you are doing is giving the Government an interest free loan on your money. I try to figure out how many deductions I will have throughout the year and then figure out how much Fed tax I will owe and then change my withholdings usually every 3 months at a time. I tried this last year. I went onto the IRS's website and put in all of our info and it told me what my estimated tax liability would be and what our estimated return would be. It was wrong. We are getting back about $1800 more then it said. Also we were having our second child and that combined with Obama's stimulus holding out $13 less or whatever it was I was scared to change my with holdings.
February 1, 201016 yr I no longer allow the government to use my money throughout the year and then reimburse me what they owe me in Feb/March. I would rather bring home more money on a monthly basis then get a big refund but I know others are different. BAsically all you are doing is giving the Government an interest free loan on your money. I try to figure out how many deductions I will have throughout the year and then figure out how much Fed tax I will owe and then change my withholdings usually every 3 months at a time. Very nice strategy. I owe almost every year and that's the way I like it.
February 1, 201016 yr Author Very nice strategy. I owe almost every year and that's the way I like it. Ewww.:puke: To each their own I suppose.
February 1, 201016 yr Tax season simply means working 50-60 hours a week for the next 3 months...Not much to celebrate if you ask me...:idunno:
February 1, 201016 yr Tax Freedom Day for Kentuckians last year was April 3. They haven't calculated it for 2010 as of yet. It actually has improved the past few years. Even so, hard to believe that three entire months of your income goes to pay taxes.
February 2, 201016 yr Filed over the weekend and I'm getting the biggest tax return I've ever gotten. Might be time to buy that HD TV.
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