tax refund
#1
tax refund
anyone ever wonder what kind of difference it makes to file jointly with another person rather than by your self? i knew there was a difference, but not this much! a co-worker and i both used the same cpa, worked the same jobs, and all that. only differences were that he lives with his girlfriend (who only made about 5k all year) and he worked about 10 more days during the year than i did because i had to take off for family stuff. he has no kids, doesnt own a home, has no dependents. seriously, the ONLY differences were those 10 extra days and he filed with his girlfriend. a couple weeks ago he tells me our CPA finished his return and told him he is getting 11.3K back! i start getting excited, thinking 'i know i wont get that much back cause i'm single' but i was thinking maybe somewhere around 8K. i started planning on how much i was gonna put down on my truck note, into savings, and a small mod or 2. well, i had a LOOONNNGG talk with my CPA over this today when he tells me i only get 3K back!! i thought 'what the hell!?!?!' we went over everything together over the phone. he ran it 14 different ways, all coming out with about the same results. then he ran a 'what if' scenario and put me down as married, or with a joint file. it would have given me an extra 7K right off the bat, even if my 'spouse' didnt report a single dime!!! sorry, i just had to rant there... this really pisses me off. just because i am single the government seems to think that i work less hard for my money than someone married or that i deserve it less! I freakin work 7 days a week 24 hours a day! i see my apartment, that i also have to pay for, about 10 hours a week, and often less than that!!! i am basically giving up my life to put money away for the future and to buy the things i want before i get married, and i am being penalized for it!!! aarrrrrgghhh!!!!!![:@][:@][:@][:@][:@][:@][:@][:@][:@][:@][:@]
edit: and yes, i know there are some of you thinking "i wish i got 3K back!" but i bet you also didnt have about 25% od your income stolen by uncle sam either. i work really hard and dedicated for my paycheck and there is a lot i have to sacrifice in order to do it. i havent even spent a night in my bed in the last 3 months, havent had a christmas, easter, or thanksgiving in the last 2 years, had to give up my dog, i only get to drive my ram a few miles a week, the list goes on...
and not that i condone it, but i definately see why people blow up and set fire to irs buildings
edit: and yes, i know there are some of you thinking "i wish i got 3K back!" but i bet you also didnt have about 25% od your income stolen by uncle sam either. i work really hard and dedicated for my paycheck and there is a lot i have to sacrifice in order to do it. i havent even spent a night in my bed in the last 3 months, havent had a christmas, easter, or thanksgiving in the last 2 years, had to give up my dog, i only get to drive my ram a few miles a week, the list goes on...
and not that i condone it, but i definately see why people blow up and set fire to irs buildings
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#8
#9
RE: tax refund
Towrig,
think about it, we have oil, cattle, grain, sea ports, cheap labor.. hell the oil that we sell to the states would negate any need for taxes and our gas could easily drop to a buck a gallon.........
Vote for Willie Nelson!!!
hell our state flag in Austin flies higher than the US flag in DC... we got approval for a pole that was just shorter than the US pole in DC but then put it up on a stand.. haha, got around that loophole of no other flag can fly higher... not talking about above sea level, knew someone would prob chime in about a mountain state capital being a mile high.
think about it, we have oil, cattle, grain, sea ports, cheap labor.. hell the oil that we sell to the states would negate any need for taxes and our gas could easily drop to a buck a gallon.........
Vote for Willie Nelson!!!
hell our state flag in Austin flies higher than the US flag in DC... we got approval for a pole that was just shorter than the US pole in DC but then put it up on a stand.. haha, got around that loophole of no other flag can fly higher... not talking about above sea level, knew someone would prob chime in about a mountain state capital being a mile high.
#10
RE: tax refund
Getting money back means you're withholding too much and letting Uncle Sam hang onto it all year. A big refund is a bad thing for you, great for the government. The thing you want to do is only withhold the amount needed to cover your tax burden, then the rest goes into your own pocket all year long.
When we were first married, we did the same thing ... withheld too much and then partied like a rock star once we got our refund check. But if we would have just put that extra money away each month and withheld a more reasonable amount, we wouldn't have been living paycheck to paycheck all year long.
So the net-net of all this is, be angry at your tax burden, married or single, not the amount of refund you're getting. Do you feel like you're getting your monies worth for the amount of taxes you're paying? Be angry that millionaires are able to run money through corporate accounts with high priced accountants and laugh at the system. Be angry that more isn't spent on protecting our country, our borders and going to the men and women who protect our freedom every day, both here and abroad.
Oops, sorry ... found my soap box. <slaps hand>
Mike
When we were first married, we did the same thing ... withheld too much and then partied like a rock star once we got our refund check. But if we would have just put that extra money away each month and withheld a more reasonable amount, we wouldn't have been living paycheck to paycheck all year long.
So the net-net of all this is, be angry at your tax burden, married or single, not the amount of refund you're getting. Do you feel like you're getting your monies worth for the amount of taxes you're paying? Be angry that millionaires are able to run money through corporate accounts with high priced accountants and laugh at the system. Be angry that more isn't spent on protecting our country, our borders and going to the men and women who protect our freedom every day, both here and abroad.
Oops, sorry ... found my soap box. <slaps hand>
Mike