Federal Tax Returns

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SportsAndLady's avatar

SportsAndLady

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35,632 posts
Feb 14, 2012 2:54 PM
So question...

I had about $1700 taken out for federal taxes at my job...what should I be expecting back in returns?

I'm not even sure if that's enough info to even answer, i'm kind of retarded when it comes to this stuff. I'm not married, no kids, no dependents or any of that shit. Just a basic tax return.

I just got my number back and it seems wayyyyyy low.
Feb 14, 2012 2:54pm
Laley23's avatar

Laley23

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Feb 14, 2012 2:55 PM
SportsAndLady;1085844 wrote:So question...

I had about $1700 taken out for federal taxes at my job...what should I be expecting back in returns?

I'm not even sure if that's enough info to even answer, i'm kind of retarded when it comes to this stuff. I'm not married, no kids, no dependents or any of that shit. Just a basic tax return.

I just got my number back and it seems wayyyyyy low.
What did you make?
Feb 14, 2012 2:55pm
hoops23's avatar

hoops23

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15,696 posts
Feb 14, 2012 2:56 PM
S&L, run your #'s through Turbotax... Trust me, you'll find out if the number was low..

It takes about 15-20 minutes if you have all your information.
Feb 14, 2012 2:56pm
SportsAndLady's avatar

SportsAndLady

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35,632 posts
Feb 14, 2012 3:00 PM
Laley23;1085847 wrote:What did you make?
$22,500 + commission is what it amounts to yearly (even though it was hourly wage, technically)...but I only worked there from June 20 to January 20. So I made I think it was 14,000 but I"m not 100% on that.

My tax return is $750
Feb 14, 2012 3:00pm
Pick6's avatar

Pick6

A USA American

14,946 posts
Feb 14, 2012 3:00 PM
SportsAndLady;1085844 wrote:So question...

I had about $1700 taken out for federal taxes at my job...what should I be expecting back in returns?

I'm not even sure if that's enough info to even answer, i'm kind of retarded when it comes to this stuff. I'm not married, no kids, no dependents or any of that shit. Just a basic tax return.

I just got my number back and it seems wayyyyyy low.
need more information. graduated from school last year correct? claiming yourself ?(I'd guess), did you pay for school, charitable donations?..list could go on and on
Feb 14, 2012 3:00pm
SportsAndLady's avatar

SportsAndLady

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35,632 posts
Feb 14, 2012 3:01 PM
hoops23;1085850 wrote:S&L, run your #'s through Turbotax... Trust me, you'll find out if the number was low..

It takes about 15-20 minutes if you have all your information.
Do you have a link to this?

My dad's tax guy did mine for me..and he said this guy is really good; but it just seemed so low for me, I mean it was under 50% of what they took out while I was there.
Feb 14, 2012 3:01pm
SportsAndLady's avatar

SportsAndLady

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Feb 14, 2012 3:02 PM
Pick6;1085856 wrote:need more information. graduated from school last year correct? claiming yourself ?(I'd guess), did you pay for school, charitable donations?..list could go on and on
Yeah I figured..

I claim myself, I paid for freshman year of school and 1 quarter of sophomore year and took loans out for the rest, no charitable donations.
Feb 14, 2012 3:02pm
Pick6's avatar

Pick6

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Feb 14, 2012 3:02 PM
SportsAndLady;1085855 wrote:$22,500 + commission is what it amounts to yearly (even though it was hourly wage, technically)...but I only worked there from June 20 to January 20. So I made I think it was 14,000 but I"m not 100% on that.

My tax return is $750
my return was around that. make 16k had ~1600 taken out. but I pay for my school and I ended up getting like 2500 back due to some American Hope education tax break.
Feb 14, 2012 3:02pm
Commander of Awesome's avatar

Commander of Awesome

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Feb 14, 2012 3:02 PM
SportsAndLady;1085858 wrote:Do you have a link to this?

My dad's tax guy did mine for me..and he said this guy is really good; but it just seemed so low for me, I mean it was under 50% of what they took out while I was there.
You think you should get all of it back or something? No longer a student I take it means you don't as much back.
Feb 14, 2012 3:02pm
Commander of Awesome's avatar

Commander of Awesome

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Feb 14, 2012 3:03 PM
SportsAndLady;1085859 wrote:Yeah I figured..

I claim myself, I paid for freshman year of school and 1 quarter of sophomore year and took loans out for the rest, no charitable donations.
They kind of fuck you with charitable donations, you have to give over $3k to even list it.
Feb 14, 2012 3:03pm
SportsAndLady's avatar

SportsAndLady

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Feb 14, 2012 3:04 PM
Commander of Awesome;1085862 wrote:You think you should get all of it back or something? No longer a student I take it means you don't as much back.
I mean I don't know...i'm not familiar with how it works. I know I wasn't gonna get back 100% of it, but I only received 45% back lol is that normal?
Feb 14, 2012 3:04pm
Laley23's avatar

Laley23

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Feb 14, 2012 3:04 PM
So if Im reading correctly. You paid about 1,000 on 14,000? It may be a bit low, but I wouldnt think youd get too much more back.
Feb 14, 2012 3:04pm
justincredible's avatar

justincredible

Nick Mangold

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Feb 14, 2012 3:05 PM
Yeah, you don't get everything back. I'd say $750 is probably the correct amount, especially if a tax professional did it for you.
Feb 14, 2012 3:05pm
justincredible's avatar

justincredible

Nick Mangold

32,056 posts
Feb 14, 2012 3:05 PM
SportsAndLady;1085864 wrote:I mean I don't know...i'm not familiar with how it works. I know I wasn't gonna get back 100% of it, but I only received 45% back lol is that normal?
My wife and I owed $4k last year. Be thankful.
Feb 14, 2012 3:05pm
Pick6's avatar

Pick6

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14,946 posts
Feb 14, 2012 3:06 PM
Commander of Awesome;1085862 wrote:You think you should get all of it back or something? No longer a student I take it means you don't as much back.
but he was a student half of last year so he should have gotten a 1098-T from OU listing his tuition and loans/scholarships/grants..unless he got it but his parent pay for it so they claimed it as expenses paid.
Feb 14, 2012 3:06pm
Laley23's avatar

Laley23

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Feb 14, 2012 3:08 PM
Pick6;1085871 wrote:but he was a student half of last year so he should have gotten a 1098-T from OU listing his tuition and loans/scholarships/grants..unless he got it but his parent pay for it so they claimed it as expenses paid.
That is true. But I doubt he got that, since it doesnt sound like he has any info on it. Im guessing parents paid? I dunno.

But even so, that would only be a % youd get back on loans. The interest. But he would still owe some money. He is close to poverty line at 14,000 (not sure how it works since its only 6 months). But still, not low enough to now owe anything.
Feb 14, 2012 3:08pm
Commander of Awesome's avatar

Commander of Awesome

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Feb 14, 2012 3:15 PM
justincredible;1085870 wrote:My wife and I owed $4k last year. Be thankful.
Ouch, though in principal I'd rather owe money than the gov't owe me. Losing time value on the money etc...
Feb 14, 2012 3:15pm
Belly35's avatar

Belly35

Elderly Intellectual

9,716 posts
Feb 14, 2012 3:16 PM
Don&#8217;t worry about it..</SPAN>

This is what I&#8217;m going to do.

I&#8217;m going to delay coming up with a plan or filing my taxes for the next 1000 days. Then I&#8217;m going to submit a plan that will take 10 years to pay off my taxes in the mean time I&#8217;m going to spend more so I have less to pay in the next 10 years . </SPAN>
Feb 14, 2012 3:16pm
SportsAndLady's avatar

SportsAndLady

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35,632 posts
Feb 14, 2012 3:16 PM
Yeah my parents paid the first year and the quarter of my sophomore year.

I'm just gonna assume it's right since a tax prof. did it.
Feb 14, 2012 3:16pm
Commander of Awesome's avatar

Commander of Awesome

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Feb 14, 2012 3:18 PM
SportsAndLady;1085883 wrote:Yeah my parents paid the first year and the quarter of my sophomore year.

I'm just gonna assume it's right since a tax prof. did it.
Sounds right to me, but I never had to deal with student loans. What happened with your job? You move back to Ohio?
Feb 14, 2012 3:18pm
hoops23's avatar

hoops23

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15,696 posts
Feb 14, 2012 3:18 PM
SportsAndLady;1085883 wrote:Yeah my parents paid the first year and the quarter of my sophomore year.

I'm just gonna assume it's right since a tax prof. did it.
It probably is, but it's never a bad thing to double check... Sites like Turbotax are free and usually are very good at getting you a maximum refund.

I had a tax professional do mine a couple years ago.. Ended up getting about $700 back.. Cross checked with Turbotax and found another $600 worth of tax credits. I've done my taxes with Turbotax ever since...
Feb 14, 2012 3:18pm
bases_loaded's avatar

bases_loaded

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6,912 posts
Feb 14, 2012 3:18 PM
I paid $5,100 and still owe $3k, payroll made a mistake apparently on my 20k bonus
Feb 14, 2012 3:18pm
SportsAndLady's avatar

SportsAndLady

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Feb 14, 2012 3:24 PM
Commander of Awesome;1085885 wrote:Sounds right to me, but I never had to deal with student loans. What happened with your job? You move back to Ohio?
Yeah I resigned, was actually losing money out there. Bout to move to Chicago for a job here soon--just gotta get it.
Feb 14, 2012 3:24pm
Automatik's avatar

Automatik

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14,632 posts
Feb 14, 2012 3:25 PM
hoops23;1085887 wrote:It probably is, but it's never a bad thing to double check... Sites like Turbotax are free and usually are very good at getting you a maximum refund.

I had a tax professional do mine a couple years ago.. Ended up getting about $700 back.. Cross checked with Turbotax and found another $600 worth of tax credits. I've done my taxes with Turbotax ever since...
Same thing happened to me before I switched to Turbotax.

If you don't have any dependents, property, single, etc. its the best way to go. I'm not sure how much it would cost for a professional to do, but I'm sure its more than TT.

S&L I would suggest running your info on TT and H&R Blocks online system just to check for sure.
Feb 14, 2012 3:25pm