I never got a huge incom tax return

[amarusgear]

Originally Posted by reener

I'm confused about this whole claiming zero thing i made just under 10k this year have no kids and claimed zero how is it looking for me?

I'm in NYC btw.

Standard deduction $5800 personal exemption $3700= $9500
10k-9500. 500

Your taxable income is 500. You're taxes will be $51 bills. You can reduce that amount by earned income credit or school credit (aoc, hope,lifetime). If none apply look at you're last paycheck of the year. Look at the year to date federal withholding take 51 bills off that and that's you're refund.

 

[bb4 86]

if you're not getting money back, you're actually doing it right. Whenever you get a refund, it's just that. A refund. You're basically giving an interest free loan to the government during the year and they pay you back come tax time. It basically will depend on how you fill out your W4 at your job, that will determine your tax withholding during the year. You're still getting the same amount of money in the long run, it's just a question of if you want it during tax time or throughout the year in your paychecks.

 

[amarusgear]

Originally Posted by GUTTA BOB

What happens if you go to school but get financial aid?

Isn't the interest from loans tax deductible?

What else is deductible from a student standpoint?

1. That amount is considered payed by you in that year only.
2.Yes it is, but once you make too much it starts phasing out.
3.Tuition and items needed to complete the class. Anything about 4K for the american opp credit is useless.

 

[curbyourenthusiasm]

ive gotten raped on taxes

i never claimed that i was a student while in school for 5 years LMAO

im an idiot

 

[pharelfor3]

Just did my taxes. Getting 2k in a couple of weeks. Gonna spend it on my bday bash and a trip to vegas. I aint even mad. lol

 

[ps2child]

I normally get $600-$700 every year. Im paying back school loans also. Someone mentioned that they have a car loan. Now I bought a car last year and I got a loan on it also. Is that tax deductible? If so how would I file it? And also with my school loans, can that make a difference?

 

[All Ready]

Originally Posted by ps2child

 Now I bought a car last year and I got a loan on it also. Is that tax deductible? If so how would I file it?

i would like to know this myself, anyone?

 

[beatjunkie5]

I been thinkin about using TurboTax...does that *#%# really work?

 

[amarusgear]

Originally Posted by All Ready

Originally Posted by ps2child

 Now I bought a car last year and I got a loan on it also. Is that tax deductible? If so how would I file it?

i would like to know this myself, anyone?

no you can't. Unless it is used for self employment reasons. 

 

[jtplatnum]

i got a 9k return last year.
thank god i went to a professional. i turbotaxed it myself and saw i was getting a 5k refund...i thought 'that can't be right that's way too much'...went to a professional and they got me 9k.
professionals from now on for me...

 

[4u2c]

Originally Posted by BOOMshipit

hopefully i get a fat refnd. we bought a house last jan. we got married dec. we habe two kids and both made less than 35k each.

Should be about 7-8k

 

[da r entertainment]

Looks like I will owe this year, again.

 

[651akathepaul]

Originally Posted by BeatJunkie5

I been thinkin about using TurboTax...does that *#%# really work?

Quick and easy. You get your money back faster too because you don't have to wait around for someone else to do it.

 

[Shanegerous]

Am I the only one who actually owed like 90 bucks last year??

 

[nightruans]

When you guys go get your taxes done by someone else, who do you go to? Just those random new shops that pop up around tax season, or reputable places like HR block and such?

 

[solewoman]

i use a tax guy...i have screwed myself way too many times trying to do it on my own. im getting about 2k back this year...really only about 1k because i owe about 1k in back taxes.

 

[thapointguy]

I'm prolly getting less back since I claimed unemployment for 3 months.

 

[da r entertainment]

I may need to give my uncle a call then since he does taxes.  Right now it looks like I'm in the hole for $1500 this year. 

 

[ps2child]

Originally Posted by ps2child

I normally get $600-$700 every year. Im paying back school loans also. Someone mentioned that they have a car loan. Now I bought a car last year and I got a loan on it also. Is that tax deductible? If so how would I file it? And also with my school loans, can that make a difference?

I just filed online with turbo tax and im getting $1,005 back.

"Gimme my money!"  and I owe state $13.

 

[mez 0ne]

I would use TurboTax again but HR Block software came free with this anti-virus program I bought last month, will just use that.