Taxes

[Emcee gsxtc]

Here's my breakdown:

Fed income tax held : $38.00
State taxes held: $4.00

$775.00 even in total pocketed income. no bullshit.

Wow, your posts have a way of making me feel better about my life.

[JET]

Can we put this in perspective. I believe I claimed 0 dont remember I made 27676 dollars had 6000 taken out between state and federal and i'm paying in 478 to federal and im getting 10 dollars from state. My sister made about 10,000 more then me only paid in 600 dollars more over the year and her return is 150. Thats why I feel im getting dicked.
The taxes paid in are just federal and state witholding, right? No medicare or social security?

If you made $27,700 and paid in $6k for just federal and state taxes, you should get a ton back. Do your parents claim you as a dependant?

[Alpine TSi]

Well, most of the year I claimed 2. I made just under 40K with my old job last year. I think even with claiming two I still paid in around 5700. I get to claim a mortgage and a slew of other deductions, which according to my tax guy will get me back around 27-28ish.

My girlfriend worked for about 6 months and made around 5K. Just claiming herself plus the standard deduction gets her almost all of her money back. Plus she will get to claim our daughter as she will get more money back by doing so compared to if I were to claim her.

And oddly enough I claimed 0 through the year in 02, didn't have a mortgage to claim and got the same back as I will this year. I thought I was going to get screwed this year by claiming two all year, but hear comes the mortgage to save the day.

[Jana]

Ok, then I'm not feeling as bad. I claim 2 all year round since I have the house to claim. This way Uncle Sam isn't keeping my money.

I'm gonna prepare my taxes tonight, so I'll let you guys know how I fare out. Hopefully I get a small return, or at least not owe too much. :D