supermike80 1,285 Posted February 12, 2020 Which camp are you? Personally we get a refund annually and always have. Not much, about 3K. But we like the check. I understand that we are giving the gubbermint our $$ for free, but with interest rates so low, it doesn't add to much anyway 3K over 52 weeks is 57 bucks a week that might not get saved. What do you guys do? Share this post Link to post Share on other sites
Djgb13 2,338 Posted February 12, 2020 Gettin close to $5K back. Usually use the refund every year to take a trip somewhere. Gotta decide where we are going. Gotta go to Nebraska twice this year. Once for thanksgiving and another for my BILs wedding Share this post Link to post Share on other sites
bostonlager 2,463 Posted February 12, 2020 I have always treated my taxes like a wife, I cheat. Share this post Link to post Share on other sites
Alias Detective 1,179 Posted February 12, 2020 I wince as I stroke the check. Share this post Link to post Share on other sites
bandrus1 413 Posted February 12, 2020 $1200 federal Owed 35 state Share this post Link to post Share on other sites
Djgb13 2,338 Posted February 12, 2020 Just now, bostonlager said: I have always treated my taxes like a wife, I cheat. Wouldn’t even know how to cheat on taxes Share this post Link to post Share on other sites
Alias Detective 1,179 Posted February 12, 2020 Just now, bandrus1 said: $1200 federal Owed 35 state How the eff do you have all you stuff already? 1 Share this post Link to post Share on other sites
bostonlager 2,463 Posted February 12, 2020 Just now, Djgb13 said: Wouldn’t even know how to cheat on taxes It's easy. I don't report all of my income. Share this post Link to post Share on other sites
Gladiators 1,904 Posted February 12, 2020 I try to get as close to break-even as I can. I'm going to owe $3k for 2019. Share this post Link to post Share on other sites
KSB2424 3,083 Posted February 12, 2020 I treat my taxes like the Price is Right game show. I try to get as close to the number without going over. Killed it this year, getting a $50 refund. Share this post Link to post Share on other sites
posty 2,296 Posted February 12, 2020 Haven't done mine yet, but expect to get back less than I did last year... Hopefully still get some back and not have to pay... Share this post Link to post Share on other sites
Drizzay 645 Posted February 12, 2020 We got money back, only because we changed our W9 elections last year and we wanted to make sure we didn't claim too many and owe. Share this post Link to post Share on other sites
edjr 5,564 Posted February 12, 2020 1800 fed, 250 state. I claim 0. Not married, I let her claim the boy, she will get back much more Share this post Link to post Share on other sites
MDC 5,891 Posted February 12, 2020 We get $2-3k back and pay about half of that back to locale wage tax. Share this post Link to post Share on other sites
NorthernVike 2,080 Posted February 12, 2020 The 2 grand per kid tax credit is a wonderful thing. Thank you president Trump. 1 Share this post Link to post Share on other sites
Reality 2,710 Posted February 12, 2020 Try to break even, my wife is self employed and I am salaried. It's always a bit of a dance. Breaking even is best case scenario, usually writing a check for a few thousand. Share this post Link to post Share on other sites
Patriotsfatboy1 1,432 Posted February 12, 2020 2 hours ago, Alias Detective said: How the eff do you have all you stuff already? I am in same boat. Have most of my stuff, but investment 1099's are still not coming until the 18th. Right now, I owe $1600 to the state and getting $1400 back from Federal, but I expect to owe both by the time April 15th rolls around. As long as I avoid the penalties, I am happy. Share this post Link to post Share on other sites
lod001 1,237 Posted February 12, 2020 Usually I give them back $600 when I'm ready to but I'm trying to get it down to where they hand me $5 bucks back. Seems when I use turbo tax, I'm getting socked with a finance charge for paying with the credit card. I will NEVER allow the govt to hold my $ interest free for 12 months. I'd be pissed if I got back $2000 without my deserved additional 10%+ in interest. Share this post Link to post Share on other sites
bandrus1 413 Posted February 12, 2020 3 hours ago, Alias Detective said: How the eff do you have all you stuff already? we dont really need much.. 2 W2's and a 1099 plus our bank documents boom its done... could have been done 2 weeks ago Share this post Link to post Share on other sites
Alias Detective 1,179 Posted February 12, 2020 25 minutes ago, lod001 said: Usually I give them back $600 when I'm ready to but I'm trying to get it down to where they hand me $5 bucks back. Seems when I use turbo tax, I'm getting socked with a finance charge for paying with the credit card. I will NEVER allow the govt to hold my $ interest free for 12 months. I'd be pissed if I got back $2000 without my deserved additional 10%+ in interest. If you only knew what your social security contributions are making....... Share this post Link to post Share on other sites
lod001 1,237 Posted February 12, 2020 1 minute ago, Alias Detective said: If you only knew what your social security contributions are making....... Yeah, I try not to think about that. I'll just be happy to get that $ back even though the fockers tax it as well. Share this post Link to post Share on other sites
Hawkeye21 1,854 Posted February 12, 2020 I usually get around $4,000 to $6,000. Share this post Link to post Share on other sites
lod001 1,237 Posted February 12, 2020 11 minutes ago, Hawkeye21 said: I usually get around $4,000 to $6,000. That would fockin piss me off. $6000, yearly over the past 10 years, if you instead, put away $500 a month into the stock market instead, you would (conservatively) have at least $100000 instead of the $60000 you got back. Share this post Link to post Share on other sites
Djgb13 2,338 Posted February 12, 2020 IRS website says we will have ours back by the 17th. Wife owes NC state $300 since she was workin in SC but living in NC earlier last year Share this post Link to post Share on other sites
Thornton Melon 544 Posted February 12, 2020 Owe the feds about $1100, getting about $120 back from state. Pretty much the same as last year. Since Trump's tax cuts, the feds are withholding alot less from my paycheck. I did the new withholding calculator on the IRS website recently, and I'm having an extra 75 bucks each paycheck (twice a month) taken out this year just to break even for next year. Share this post Link to post Share on other sites
Cdub100 3,380 Posted February 12, 2020 I got back 5k I understand the argument for both sides Share this post Link to post Share on other sites
supermike80 1,285 Posted February 12, 2020 7 minutes ago, Cdub100 said: I got back 5k I understand the argument for both sides Yup Me too. Share this post Link to post Share on other sites
Kanil 519 Posted February 12, 2020 We usually come pretty close to breaking even. Got a couple of out of the ordinary windfalls last year that make me think I'm going to owe a bit more than I have in the past. We'll see though. Sending all of our crap in to our guy today so he can figure it all out. Share this post Link to post Share on other sites
MTSkiBum 1,594 Posted February 12, 2020 I claim 0 and get a big return, that along with the bonus in March means I always have some real money to work with this time of year. Share this post Link to post Share on other sites
WhiteWonder 2,172 Posted February 12, 2020 I’ll be paying due to capital gains tax in stock sales. I’m assuming it will push me into owing but I don’t have all my docs yet Share this post Link to post Share on other sites
shorepatrol 1,737 Posted February 13, 2020 2 hours ago, MTSkiBum said: I claim 0 and get a big return, that along with the bonus in March means I always have some real money to work with this time of year. I claim 0 Married and I owed every year until the tax breaks and break even now. HTF are you big money Geeks getting these big returns. Share this post Link to post Share on other sites
Patriotsfatboy1 1,432 Posted February 13, 2020 1 hour ago, shorepatrol said: I claim 0 Married and I owed every year until the tax breaks and break even now. HTF are you big money Geeks getting these big returns. The only return I might get from Federal is because I made an extra $12k payment in December. I will still probably owe. I claim 0 too. ETA - just got one more tax package. With still more coming in, I now owe $1000 to the Fed and $2800 to the state. I hate tax time. Share this post Link to post Share on other sites
MTSkiBum 1,594 Posted February 13, 2020 59 minutes ago, shorepatrol said: I claim 0 Married and I owed every year until the tax breaks and break even now. HTF are you big money Geeks getting these big returns. I was single with no kids when i started with my current company, that may be part of it. My paycheck take home pay is less than 50% of my gross salary. I pay a ridiculous amount in taxes on my paychecks, but I get low 5 digit returns. That with my bonus is boat money or almost new car money, etc. We get our big purchase of the year in early spring. I understand how stupid that is, but it works for us. Share this post Link to post Share on other sites
shorepatrol 1,737 Posted February 13, 2020 6 minutes ago, MTSkiBum said: I was single with no kids when i started with my current company, that may be part of it. My paycheck take home pay is less than 50% of my gross salary. I pay a ridiculous amount in taxes on my paychecks, but I get low 5 digit returns. That with my bonus is boat money or almost new car money, etc. We get our big purchase of the year in early spring. I understand how stupid that is, but it works for us. Long as it works brother , just curious. No kids , I take home about 65% so that makes a little sense. Share this post Link to post Share on other sites
