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2013 Taxes...What'd you pay?

Discussion in 'The Okie Corral' started by XDRoX, Feb 16, 2014.


  1. XDRoX

    XDRoX
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    State took $4218 and feds took $12,220.
    We are getting back $12,852.
     

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  2. XDRoX

    XDRoX
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    It wasn't nearly this good. But we had a 3rd child, maybe that's what did it.
     

  3. Zonny

    Zonny
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    "Nearly"? Compare your numbers across the board. You will find your error.
     
  4. XDRoX

    XDRoX
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    I actually don't remember what happened last year. I don't remember getting this large of a return but my wife always handles the tax stuff. I just asked her, she said we got back around $11k last year. All I know is I got $1k for myself :crying:
     
  5. Cybercowboy

    Cybercowboy
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    Support the 2nd

    Joined:
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    If you are getting 5 figure returns, you are in serious need of adjusting your W4. Why in the world would you want the government to hold onto that much of your money for a year or more?
     
  6. gwalchmai

    gwalchmai
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    Lucky Member

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    The amount of taxes people report paying on internet forums, like range accuracy and, um, appendage length, is, shall we say, not subject to verification...
     
  7. Zonny

    Zonny
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    Perhaps you should involve yourself in your finances.
     
  8. podwich

    podwich
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    Hope you don't get audited.
     
  9. Dave514

    Dave514
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    Based on the given information, I would have someone who does taxes for a living look over your information. A small oops now can mean a big penalty later.
     
  10. 2bgop

    2bgop
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    I paid far more than I wanted.
     
  11. XDRoX

    XDRoX
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    I get that, I really do, but it sure is nice to get a good return. Truth be told if the government didn't hold onto this money for me it would be spent already.

    I will have them take out less next year but I still would like to get a return.
     
  12. XDRoX

    XDRoX
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    I'm really good at spending money :super grin: That's about it.

    I feel like my wife does a great job managing our money. She handles all the bills. I have no idea what cable or cell phone bills cost. I like it this way. Seems like a lot of hassle.

    She probably likes a large return because she knows I'll spend the money if I had it. She already spent this return BTW.
    $4k for me not working this summer (I'm a teacher)
    $1k for Christmas 2014
    $1500 to the kids saving accounts
    etc...

    I get $1252 :supergrin:
     
    #32 XDRoX, Feb 16, 2014
    Last edited: Feb 16, 2014
  13. roger123

    roger123
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    I just did mine, I guess the 12K the government took out wasn't enough, they want an additional 3K.
     
    #33 roger123, Feb 16, 2014
    Last edited: Feb 16, 2014
  14. jame

    jame
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    mange takk

    Joined:
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    I did the Turbo Tax thing for a few years, until a a big penalty came down the pipe. I'm still paying for that screw up.

    You need a dedicated CPA/Tax guy. Believe me.
     
  15. Dave514

    Dave514
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    Your name goes on that return. You better wake up. I don't know if the taxes were done right or not but your obtuse outlook is a recipe for disaster.
     
  16. RGbiker

    RGbiker
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    I use Turbo Tax for years. Made a mistake one year and underpaid. IRS sent me a nice letter informing of mistake and amount underpaid and asked if I needed extra time to make good. Maybe someone there was having a good day....:dunno:

    Check to cover underpayment to IRS went out next day.

    My mistake was only several hundred bucks!
     
  17. Glock!9

    Glock!9
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    Add another 0 and that's almost what I pay...
    Something is not right, fix it ASAP
     
  18. jpa

    jpa
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    CLM

    Joined:
    May 28, 2001
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    I just plugged his numbers into a tax calculator on the H&R Block web site and he's right.
    http://www.hrblock.com/get-answers/tax-calculators.html

    Here's what I plugged in:

    Married Filing Jointly
    3 dependents (I don't know ages so I just put 5 for each and checked "child living with me")
    75k income for self, 0 income for wife.
    No deductions or accounting for state income tax.

    End result?
    Taxable Income $43300
    Adjusted Gross income (AGI) $75000
    Greater of itemized or std. deduction $12200
    Personal exemptions $19500
    Taxes and nonrefundable credits + $2603
    Payments and refundable credits + You will owe $2603 (I put zero for tax withheld)

    I didn't account for rental income and expenses, mortgage interest or any other deductions or credits. So yes, it looks like they're pretty spot on.
     
  19. jpa

    jpa
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    CLM

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    How much interest could you have earned on $4k if you saved the money all year long? Not much, but I'd rather have it in my bank account instead of Uncle Sam's.

    Instead of putting $1500 in a regular savings account for the kids, invest it tax-free in a 529 plan for college.

    Same question for the $1k for Christmas. I assume you mean for presents...how many dozens of people are you buying presents for and how do I get on that list? :)
     
  20. JMS

    JMS
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    02

    Joined:
    May 6, 2007
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    Just wanted to get in before the crowd of GT posters who'll use this opportunity to say they paid more than $75k in taxes last year and that you're a net user to the system unless you make 7 figures.
     
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