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Legendary Wise Elder
Member Since Jun 2016
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#1
My mom said I was overreacting when I said that my paychecks were higher then usual and that my state and federal taxes were messed up. She said I was fine and that I wouldn’t owe anything. Now there is all this talk on the news about people either owing money in taxes, or not getting as big a refund as they expected. I am freaking out right now. I am in one of the high tax states. But I didn’t make that much money since I only work part time. Of course my uncle who does my taxes is not responding to my calls. I’m really nervous about this.
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SlumberKitty
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Legendary Wise Elder
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#2
IDK. I haven't done my taxes yet. But I claim single and none so they take the most out of my check. I hope I still get a refund.
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Legendary Wise Elder
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#3
I would be fine even if I didn’t get a refund. I just don’t want to owe a lot of money. This one lady on the news owed $10,000. I don’t even have half that amount of money.
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Threadtastic Postaholic
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#4
Our tax preparer told us last year that due to the upcoming changes we would have to have an additional 25-30$ withheld from each biweekly paycheck to avoid getting screwed and it saved our butts. She did our taxes and we are getting around 3000$ and she quickly scanned things with the old withholdings and if we hadnt done that we would actually have owed around 600$!
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Crone
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#5
This was trumps tax plan for the working poor and middle class, not to withhold as much money so people thought they had more money and spend more money then when tax time came reality slap ya in the face. But if ya make over 250,000 a year or get all yer income from investments ya really do get a tax break. You were right Mountain Dew to suspect yer check was too big.
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#6
Quote:
Last edited by Anonymous55879; Feb 13, 2019 at 01:39 PM.. |
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Legendary Wise Elder
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#7
I made $11,000 last year. Should I owe? If I do How much if anyone would know.
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#8
Quote:
I am not a tax expert. My knowledge is just based on doing my families taxes but, from what I have read in the news, you probably will not owe so if you paid anything in then you should get a refund. |
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Legendary Wise Elder
Member Since Jun 2016
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#9
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I just found out a few minutes ago I’ll have to pay $164 for one of my prescriptions and it’s all just really stressful right now. __________________ Ridin' with Biden |
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Anonymous55879
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Legendary Wise Elder
Member Since Oct 2004
Location: Kentucky, USA
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#10
It is best to just break even when it comes to taxes....not owing/ not getting refund. Giving the government your money interest free through the year to get a refund makes bad business sense. Stashing that extra even in a savings account over the years would add up & then could be transferred to a higher interest bearing account when high enough & keep putting the extra money into an almost untouchable account & you would come out much farther ahead in the long run.
I don't pay, I don't receive but when I did, my break even worked & would have worked better if my H hadn't been so financially irresponsible. I had my accounting BS degree so I usually won the battles. __________________ Leo's favorite place was in the passenger seat of my truck. We went everywhere together like this. Leo my soulmate will live in my heart FOREVER Nov 1, 2002 - Dec 16, 2018 |
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Guiness187055
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Legendary Wise Elder
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#11
When I was single (divorced to be exact) and had no dependents anymore I always owed simply because I make too much. Now when I am married we file joined and we get some back. We only get some back because my husband pays spousal support to his lazy ex. Otherwise we’d get nothing back. Again supposedly we make too much. No we dont. Roll our eyes.
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Crowned "The Good Witch"
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#12
Last year I owed a whole $3. And I worked mostly part time.
Last edited by LiteraryLark; Feb 13, 2019 at 09:12 PM.. |
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Magnate
Member Since Jun 2018
Location: Canada
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#13
Your employer should be providing you a tax form at time of hire and annually thereafter. On this form you can dictate how much you want taken off your paycheque for income taxes or confirm the default deductions. I have always chosen a higher amount to ensure I don't get a surprise come time to file my income tax return. I always then get money back. I recommend you doing the same when you get the form next time around. If your employer doesn't provide you with it, ask for it. I am unsure about rules in your country but in mine an employer is required to provide you with one.
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eskielover
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Magnate
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Location: Canada
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#14
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Legendary Wise Elder
Member Since Jun 2016
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#15
Ok I was just asking.
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Legendary Wise Elder
Member Since Jun 2016
Location: Where the sidewalk ends
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#16
My uncle is really stressed about his job and he’s not sure when he will get to my taxes. Meanwhile I’m just stressing out even more about it.
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Anonymous55879
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Legendary Wise Elder
Member Since Oct 2004
Location: Kentucky, USA
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#17
Quote:
Here is the link to the US fed tax form if you are in the US. If income is low & none paid & no return then filing becomes unnecessary. About Form 1040 | Internal Revenue Service __________________ Leo's favorite place was in the passenger seat of my truck. We went everywhere together like this. Leo my soulmate will live in my heart FOREVER Nov 1, 2002 - Dec 16, 2018 |
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Anonymous55879
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Mountaindewed
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Legendary Wise Elder
Member Since Jun 2016
Location: Where the sidewalk ends
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#18
I just found out today that I won’t have to pay back some money I thought I’d have to. So I do have money to pay if I owe.
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Anonymous55879
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Magnate
Member Since Jun 2018
Location: Canada
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#19
Mountaindewed - What deductions were being taken off your pay cheques? Certainly your employer will have been obligated to do this. So know that you have already been paying income tax on each cheque (along with employment insurance and government pension as well). The only way this will not be the case would have been if you had completed a form to waive these things. That is the way here and I am very sure that is how it is everywhere. Forgive me if I am misinformed.
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Perpetually Pondering
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#20
One of the best tips, going forward, that I could give you is to fix your W-4s and withhold $10 on Fed and $5 on State. Or more, but back in the early 90s my stepdad made sure that I did that when I started working.
Can you take your W2 and fill the numbers into a free online tax provider? The IRS even has links. That'll put your mind at ease. To add. You've gotta figure he was fully blue blooded, a union Construction guy who lived through the last major tax reform in the 80s. To add more. I survived this one. Adjusted my W4s under the guise of plausible deniability. I had more withheld and didn't notice much difference in "more in my paycheck"... We have an employee page at work and I played with my settings to make it so that I saw no changes. I played with single and head of household and withholding numbers. Never trust the government when they say more in your wallet... Last edited by healingme4me; Feb 16, 2019 at 09:29 AM.. |
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WishfulThinker66
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