SportsAndLady
Posts: 35,632
Feb 14, 2012 2:54pm
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.
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.
Laley23
Posts: 29,506
Feb 14, 2012 2:55pm
What did you make?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.
hoops23
Posts: 15,696
Feb 14, 2012 2:56pm
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.
It takes about 15-20 minutes if you have all your information.
SportsAndLady
Posts: 35,632
Feb 14, 2012 3:00pm
$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.Laley23;1085847 wrote:What did you make?
My tax return is $750
Pick6
Posts: 14,946
Feb 14, 2012 3:00pm
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 onSportsAndLady;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.
SportsAndLady
Posts: 35,632
Feb 14, 2012 3:01pm
Do you have a link to this?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.
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.
SportsAndLady
Posts: 35,632
Feb 14, 2012 3:02pm
Yeah I figured..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
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.
Pick6
Posts: 14,946
Feb 14, 2012 3:02pm
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.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
Commander of Awesome
Posts: 23,151
Feb 14, 2012 3:02pm
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.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.
Commander of Awesome
Posts: 23,151
Feb 14, 2012 3:03pm
They kind of fuck you with charitable donations, you have to give over $3k to even list it.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.
SportsAndLady
Posts: 35,632
Feb 14, 2012 3:04pm
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?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.
Laley23
Posts: 29,506
Feb 14, 2012 3:04pm
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.
justincredible
Posts: 32,056
Feb 14, 2012 3:05pm
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.
hoops23
Posts: 15,696
Feb 14, 2012 3:05pm
justincredible
Posts: 32,056
Feb 14, 2012 3:05pm
My wife and I owed $4k last year. Be thankful.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?
Pick6
Posts: 14,946
Feb 14, 2012 3:06pm
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.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.
Laley23
Posts: 29,506
Feb 14, 2012 3:08pm
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.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.
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.
Commander of Awesome
Posts: 23,151
Feb 14, 2012 3:15pm
Ouch, though in principal I'd rather owe money than the gov't owe me. Losing time value on the money etc...justincredible;1085870 wrote:My wife and I owed $4k last year. Be thankful.
Belly35
Posts: 9,716
Feb 14, 2012 3:16pm
Don’t worry about it..</SPAN>
This is what I’m going to do.
I’m going to delay coming up with a plan or filing my taxes for the next 1000 days. Then I’m going to submit a plan that will take 10 years to pay off my taxes in the mean time I’m going to spend more so I have less to pay in the next 10 years . </SPAN>
This is what I’m going to do.
I’m going to delay coming up with a plan or filing my taxes for the next 1000 days. Then I’m going to submit a plan that will take 10 years to pay off my taxes in the mean time I’m going to spend more so I have less to pay in the next 10 years . </SPAN>
SportsAndLady
Posts: 35,632
Feb 14, 2012 3:16pm
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.
I'm just gonna assume it's right since a tax prof. did it.
Commander of Awesome
Posts: 23,151
Feb 14, 2012 3:18pm
Sounds right to me, but I never had to deal with student loans. What happened with your job? You move back to Ohio?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.
hoops23
Posts: 15,696
Feb 14, 2012 3:18pm
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.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.
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...
bases_loaded
Posts: 6,912
Feb 14, 2012 3:18pm
I paid $5,100 and still owe $3k, payroll made a mistake apparently on my 20k bonus
SportsAndLady
Posts: 35,632
Feb 14, 2012 3:24pm
Yeah I resigned, was actually losing money out there. Bout to move to Chicago for a job here soon--just gotta get it.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?
Automatik
Posts: 14,632
Feb 14, 2012 3:25pm
Same thing happened to me before I switched to Turbotax.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...
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.