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Started By
Message
Tax return ?
Posted on 4/15/10 at 9:06 am
Posted on 4/15/10 at 9:06 am
Okay, I'll try to keep this short. The wife and I are both gainfully employed. We manage our money and live off what we make and manage to save a decent amount. We both get the max withdrawn from our paychecks.
This year I am getting back 1700 from the state and over 6k from the Feds. I understand the argument that I am giving the gov't an interest free loan, just dont know how to go about getting the right amount withdrawn. We file jointly but we both are taxed as single and no dependents by choice.
We do not have kids and did not by house. What advice for me would you have for me in this situation. It works well for us b/c we never have to pay the gov't come April 15th and we are more than able to live off what we make. Is there a way to better manage the situation.
TIA.
This year I am getting back 1700 from the state and over 6k from the Feds. I understand the argument that I am giving the gov't an interest free loan, just dont know how to go about getting the right amount withdrawn. We file jointly but we both are taxed as single and no dependents by choice.
We do not have kids and did not by house. What advice for me would you have for me in this situation. It works well for us b/c we never have to pay the gov't come April 15th and we are more than able to live off what we make. Is there a way to better manage the situation.
TIA.
2
Posted on 4/15/10 at 9:11 am to cptigger
Just have your employer withold a bit more next year. If you have any debt, apply a chunk of the refund to it.
This post was edited on 4/15/10 at 9:18 am
Posted on 4/15/10 at 10:23 am to John Merlyn
quote:
Just have your employer withold a bit more next year. If you have any debt, apply a chunk of the refund to it.
Give them more of a loan. I think you meant instead of zero 1 or 2 so they take out less taxes. OP You must be commiting some kind of tax fraud getting that much with no deductions ie house and kid. Good luck with that audit. Dont spend that 6k just yet
Posted on 4/15/10 at 10:29 am to cptigger
quote:
just dont know how to go about getting the right amount withdrawn
The IRS has a calculator for this on their site. Tells you exactly how to adjust your withholding
Posted on 4/15/10 at 7:17 pm to jmtigers
Patience my friend- our government is doing its best to take more of your money - 
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