This is just a survey for Washington residents, those of you who work and have been working/doing your taxes, I'm currently curious as to who is eligible for the bonus which ranges from $300 to upwards of $1200 depending on AGI, claimed dependents, marital status, and home ownership status - those who have done their taxes last year, this year, and are eligible or have already received their economic stimulus payment, please select one of the options above - this is strictly for research purposes and you don't need to disclose information you're not comfortable with.

I'm still new to the advanced economic concepts that influence our federal and state monetary values, such as tax rate, exemptions, etc. Furthermore, those who have gotten their payment and are willing to share how much it was for, what have you guys done with it?

Currently I'm still waiting on mine because I did my taxes late this year (filed them on Saturday, and got my confirmation notice on Sunday morning) - but I'm eligible for $300 which is nice, as well as a pretty hefty return - but a few things puzzle me.

One of my friends has worked more hours and made more than I did last year, he also claimed a higher number on his allowances so more taxes were deducted from his paycheck every time than mine, the concept of it was that the more the government takes from each paycheck, the more of a return you would get the next year - unfortunately something went wrong because as we were sitting down and doing our taxes, I noticed that after he entered in any W-2 forms past his 2nd one, his refund started dropping considerably, regardless of the income that the job brought in - whereas when I did the same thing, my refund just kept increasing, even though I claimed a 0 on allowances, theoretically meaning that I would get a smaller return in exchange for less money taken out of my paychecks.

So why is this? How did my friend lose $3000 in taxes deducted from his paychecks last year, and his return is only $180 - not only that, but he did itemized deductions because of his college classes, the gas and maintenance on his car, etc - meaning that he should have gotten a larger refund, whereas I only had roughly $1200 in taxes deducted from my paychecks over the last year due to the fluctuating number of allowances I claimed at different jobs, and my return is marginally bigger than his, with a standard deduction and no itemizations. I'm very confused by all of this, the whole situation, especially with what's going on with my friend, it seems like the IRS just screwed him over, and we can't figure out why.

Edit: Even when he opted for the standard deduction and ignored itemized deductions, his refund did not fluctuate any significant amount, we're talking less than $10 here.

He earned more money than you and thus was taxed at a higher rate.


I'm getting 600 and its going into savings. Stimulus plan is bullshit so I should make the most of it.

He earned more money than you and thus was taxed at a higher rate.


I'm getting 600 and its going into savings. Stimulus plan is bullshit so I should make the most of it.
The amount of money you make influences how much you are taxed? By how much, should I let him know that claiming a higher number on his allowances to get more money taken out of his checks won't increase the refund significantly, that's why he did it, expecting a larger refund, but $3000 in taxes paid turning into less than $200 of a refund with less than $25k overall income - whereas I only 'legitimately' made roughly $11,000 last year (I did a lot of undocumented freelance work) and had way less money taken out of my checks, I believe only $430 or so total over the whole year, yet I'm actually getting MORE than that back!

It's all terribly confusing to me :(

Also, you have your deductions confused.

Claiming 0, is having the MOST taxes taken out, making for the biggest refund. The more deductions you claim, the LESS they take out, making more money available to you NOW, and making your return less. If you have kids, you would claim 1 for yourself, one for your spouse, and one for each kids (or there abouts), this would make for your maximum budget NOW, more money to spend on the family. Having the family, would also allow for other options at tax time (head of household deduction) which would counter act you paying less tax each check.

See the income tax website.... download the PDF file for the instruction book 1040a, and you can see how much the tax increases based on how much you make.... it is actually pretty drastic.

screw it I am just going to look at tax return money as a magical gift, too damn confusing

Also, don't forget..... this "Economic Stimulus" package isn't just "free money".... you do have to claim it as income, and pay tax on it with your 2008 tax return. Soooo that'll mean an even smaller return next year, due to the fact you'll have $600.00 that you paid 0% income tax on.

I'm also a bit confused by the vote... some people are voting on the 300-599 option.... were you voting for tax refund, or Economic Stimulus return?

In the case of the Economic Stimulus, if you are single, and without kids, really the only option for you is either 0, or $600....

0 = under 17, or if you made less that 3k, more than 75k.
600 = over 18, and less than 75k.

300 = for parents with dependants under 17.
1200 = couples that filed jointly, and made less than 150k.

A girl I work with has 4 kids; and is single.

600+300*4(per kid) = $1800.

Crazy! But I wouldn't want to be a single parent with 4 kids! ugh.

The amount of money you make influences how much you are taxed? lmao yes

http://www.moneychimp.com/features/tax_brackets.htm

By how much, should I let him know that claiming a higher number on his allowances to get more money taken out of his checks won't increase the refund significantly, that's why he did it, expecting a larger refund, but $3000 in taxes paid turning into less than $200 of a refund with less than $25k overall income - whereas I only 'legitimately' made roughly $11,000 last year (I did a lot of undocumented freelance work) and had way less money taken out of my checks, I believe only $430 or so total over the whole year, yet I'm actually getting MORE than that back!

It's all terribly confusing to me :(Federal income tax is taken out at a rate that corresponds to where your paycheck falls into those brackets shown above.

Social (in)Security takes out a flat percentage up to a certain salary level (employers also pay a matching amount of SS taxes for each employee).

http://www1.umn.edu/ohr/payroll/tax/wagelimits.html




Oh, and we won't be taxed on the stimulus rebate:

Q. Is my Stimulus Payment taxable?
A. No. You will not owe tax on your payment when you file your 2008 federal income tax return. But you should keep a copy of the IRS letter you receive later this year listing the amount of your payment.

Oh, and we won't be taxed on the stimulus rebate:

Nice...... I thought the last time they tried to do this, they taxed us on it the next year.

Nice...... I thought the last time they tried to do this, they taxed us on it the next year.

That's because last time it was an "advance" on your next year's return.

Now they've had the brilliant plan to print up a pile of money and give it away.:rolleyes

That's because last time it was an "advance" on your next year's return.

Now they've had the brilliant plan to print up a pile of money and give it away.:rolleyes


By the time we get the check, it might be enough to fill up the gas tank... lol

Gotta love making a weak dollar, even weaker.

Your friend didn't lose his refund, he paid taxes based on amount of income vs deductions. The idea of withholding is to have had enough money withheld throughout the year to cover your amount of tax liability. Those that get large refunds are over-withholding.

Claiming more dependents equates to less withholding... therefore more money in take home each payday and less chance of a large refund at the end of the year.

Those who want to have a nice fat refund will usually claim single, zero, which means the largest percentage of withholding. Or even have additional taken out each pay period. It's like an automatic savings account.... except that it pays no interest.

If one claims the correct number of dependents throughout the year and uses the standard deduction when filing taxes at the end of the year, theoretically, there would be no refund or money due. It'd be a wash.

There are ways a person can come out on the short end if they have multiple sources of income (W-2s). There are formulas for determining the amount of withholding based on amount earned. They do not take into consideration additional income from other jobs. If the amount earned is low enough no taxes would be withheld. So, if a person had a job earning $1K/month the taxes withheld would be based on the total projected income for a year. If that same person held a part-time job earning $100/month there may not be any withheld from that paycheck because of the small amount projected for the year. If that same person held several of these p/t jobs throughout the year it could add thousands to his/her total income which would mean not enough money had been withheld to cover tax liability at the end of the year which is based on total income for all jobs.

You have to learn to manage your taxes just like you manage your budget. Especially as you begin to earn more and have deductions that can be itemized.

Jay

Your friend didn't lose his refund, he paid taxes based on amount of income vs deductions. The idea of withholding is to have had enough money withheld throughout the year to cover your amount of tax liability. Those that get large refunds are over-withholding.

Claiming more dependents equates to less withholding... therefore more money in take home each payday and less chance of a large refund at the end of the year.

Those who want to have a nice fat refund will usually claim single, zero, which means the largest percentage of withholding. Or even have additional taken out each pay period. It's like an automatic savings account.... except that it pays no interest.

If one claims the correct number of dependents throughout the year and uses the standard deduction when filing taxes at the end of the year, theoretically, there would be no refund or money due. It'd be a wash.

There are ways a person can come out on the short end if they have multiple sources of income (W-2s). There are formulas for determining the amount of withholding based on amount earned. They do not take into consideration additional income from other jobs. If the amount earned is low enough no taxes would be withheld. So, if a person had a job earning $1K/month the taxes withheld would be based on the total projected income for a year. If that same person held a part-time job earning $100/month there may not be any withheld from that paycheck because of the small amount projected for the year. If that same person held several of these p/t jobs throughout the year it could add thousands to his/her total income which would mean not enough money had been withheld to cover tax liability at the end of the year which is based on total income for all jobs.

You have to learn to manage your taxes just like you manage your budget. Especially as you begin to earn more and have deductions that can be itemized.

Jay
Thanks a lot as well, he had four jobs over the course of 2007, 1 primary job as well as 3 temporary weekend jobs that he was asked to work at, such as one weekend at Round Table pizza - when we entered in the one weekend of work where he made about $140, his refund dropped about $20, even though he made $140 and had $35 of that withheld for taxes.

That's because last time it was an "advance" on your next year's return.

Now they've had the brilliant plan to print up a pile of money and give it away.:rolleyes
Kind of like Germany had to do after World War 2 - when they were defeated they were forced to pay other countries for their losses, so the Germans did nothing but print up a bunch of money, which did nothing but lower the value of their money to an amount that was almost worthless - I remember seeing a picture of a lady carrying a wheelbarrow full of money after the war, and using it to buy bread - the German currency became useless from what I remember, which isn't really good for the economy...

lmao yes

http://www.moneychimp.com/features/tax_brackets.htm

Federal income tax is taken out at a rate that corresponds to where your paycheck falls into those brackets shown above.

Social (in)Security takes out a flat percentage up to a certain salary level (employers also pay a matching amount of SS taxes for each employee).

http://www1.umn.edu/ohr/payroll/tax/wagelimits.html




Oh, and we won't be taxed on the stimulus rebate:
Thanks for the links, it makes a lot more sense now.

Money is taken out of paychecks every month for taxes because Americans don't know how to save. Tax season would come up every year and no one would have money to pay the government. So they make sure you do by taking out a portion depending out how much you are making. They higher the amount the greater the percentage taken out is.

If i was good at saving money I would opt to have no taxes taken out of my paychecks every month, turn around and invest a percentage in something with a decent return and then make money on what i would be paying the government and give them the rest at the end of tax season. But i am a typical American who can not save money, maybe it because I drive a BMW. :dunno

If i was good at saving money I would opt to have no taxes taken out of my paychecks every month, turn around and invest a percentage in something with a decent return and then make money on what i would be paying the government and give them the rest at the end of tax season.

Unfortunately, this may not be the kind of advice you want to follow. Depending upon the amount of tax you owe the gov't, the IRS would require you to at least make quarterly payments, else you would find yourself with penalties at the end of the year. It's not just about paying the IRS, it's about paying them in a timely fashion WHEN you owe the money, and you owe it as soon as you make it not on April 15th.

Unfortunately, this may not be the kind of advice you want to follow. Depending upon the amount of tax you owe the gov't, the IRS would require you to at least make quarterly payments, else you would find yourself with penalties at the end of the year. It's not just about paying the IRS, it's about paying them in a timely fashion WHEN you owe the money, and you owe it as soon as you make it not on April 15th.

I know there are quarterly payments it is just the idea that i was trying to give.

I know there are quarterly payments it is just the idea that i was trying to give.

Yeah, but it's obvious from this thread that there are those who have no idea how the IRS/taxes work. I'd hate to see someone follow your advice, claim 15 exemptions then get into a mess of trouble.

Ideally, if anyone is working one job at any given time making $25-35k, and they claim S-1, they can expect to pay a very little amount to the IRS come tax time. If it's S-0, they'll get a few hundred back. If they're married, have kids, a mortgage, well, then it's just more variables. Most people I know who went with S-1 last year found themselves paying this year and are changing to S-0 to avoid that.

Yeah, but it's obvious from this thread that there are those who have no idea how the IRS/taxes work. I'd hate to see someone follow your advice, claim 15 exemptions then get into a mess of trouble.

Ideally, if anyone is working one job at any given time making $25-35k, and they claim S-1, they can expect to pay a very little amount to the IRS come tax time. If it's S-0, they'll get a few hundred back. If they're married, have kids, a mortgage, well, then it's just more variables. Most people I know who went with S-1 last year found themselves paying this year and are changing to S-0 to avoid that.
So for those with an income of under 25k annually, S0 is the way to go?

$600 here ftw

So for those with an income of under 25k annually, S0 is the way to go?

If you want a return, S-0 is the way to go any time.

I did read a blurb this year, that the IRS is going to execute an "over payment penalty" under certain circumstances where they have to payout a large refund.... I didn't get into the specifics though.

I'm gonig to keep claiming 0, and keep getting my 1k-1.5k back every year.

One suggestion! Maximize your 401k contribution if your company offers one!

take a macroeconomics class, it will help you understand lots of this stuff.

also check out the Motley Fool - www.fool.com for great financial advice.

learn it now while you are young and hopefully debt free.

and to reiterate what someone else said, you want to set up your taxes so that the guvmint takes just what they need, not more. a refund just means they took too much. i know some people use this as a savings account, which is stupid. learn how to save and earn interest on the money, don't lend it to uncle sam interest free.

take a macroeconomics class, it will help you understand lots of this stuff.

Don't need to take a class, just have someone who does this sort of stuff for a living explain it to you, like my friends do.

...which is stupid. learn how to save and earn interest on the money, don't lend it to uncle sam interest free.

Good advice, but very few will heed it. If you're working one job (at a time) claim S-1.

Personally, I know a ton about economics and accounting and I always get a return. If I got back that extra $10 or $40 on a paycheck I just wouldn't notice it and would blow it anyways, but getting an extra $500-$1000 when I file my taxes I do notice. Sure, I should've put that extra $20 into an interest bearing account at, what, maybe 2%? With all that interest at the end of the year you might be able to buy yourself a pizza with two toppings! Oh, and that interest is taxable too. If it was 10k or 20k then it gets more worthwhile.

The real idea is to get you in the habit of saving, but for such small amounts of money it's just not that big of a deal.

Don't need to take a class, just have someone who does this sort of stuff for a living explain it to you, like my friends do.



Good advice, but very few will heed it. If you're working one job (at a time) claim S-1.

Personally, I know a ton about economics and accounting and I always get a return. If I got back that extra $10 or $40 on a paycheck I just wouldn't notice it and would blow it anyways, but getting an extra $500-$1000 when I file my taxes I do notice. Sure, I should've put that extra $20 into an interest bearing account at, what, maybe 2%? With all that interest at the end of the year you might be able to buy yourself a pizza with two toppings! Oh, and that interest is taxable too. If it was 10k or 20k then it gets more worthwhile.

The real idea is to get you in the habit of saving, but for such small amounts of money it's just not that big of a deal.
But it's not $10 or $20 that I get taken out of my paycheck... My friend and I each lose a few hundred dollars per check that go to taxes... That's why he was pissed off at his refund amount.

But it's not $10 or $20 that I get taken out of my paycheck... My friend and I each lose a few hundred dollars per check that go to taxes... That's why he was pissed off at his refund amount.

First of all, stop comparing your taxes to your friend's. Entirely different ballgame and not relevant in the slightest.

He's explaining the difference between claiming 0, 1 or 2 exemptions and is completely correct in his statement. I'd also agree its worth it to allow the government to take a bit more out and get a larger refund, because its really easy to spend that extra $10 on frivolous garbage instead of saving it.

First of all, stop comparing your taxes to your friend's. Entirely different ballgame and not relevant in the slightest.

He's explaining the difference between claiming 0, 1 or 2 exemptions and is completely correct in his statement. I'd also agree its worth it to allow the government to take a bit more out and get a larger refund, because its really easy to spend that extra $10 on frivolous garbage instead of saving it.
Currently I'm claiming 2 exemptions, and I'm getting about $250-300 taken out of my checks, do I want to claim a smaller number or higher number?

As mentioned above, the IRS makes a form that you have to fill out, it's called a W4. On this form, there's a worksheet that helps you compute the correct # of ALLOWANCES to claim for your withholding.

http://www.irs.gov/pub/irs-pdf/fw4.pdf

The worksheet is remarkably accurate. When I've had only one job and filled it out accurately, my tax return was almost always within $50 of zero.

Now, if you want to play games (because you don't have any discipline), then you can have more withheld. Lower allowances = more withheld. Yes, it's not earning interest; but some of you do have a point that when savings accounts are paying a hundredth of a percent, that it's not like you're losing a ton.

As mentioned above, you can play games the other way, and make it so less is withheld. However the IRS doesn't like those games. When you have a year where too little is withheld, the next year you WILL be required to have more withheld (either through withholding or through quarterly tax payments). And another thing, the idea of claiming 99 allowances on your W9 and then "slipping it in" at the end of the year with a 4th quarter tax payment doesn't work because if the IRS doesn't get it relatively equally throughout the year, they'll assess penalties.

Now, there is ONE way around this that I am aware of. I'll give you a "hypothetical" example:

If a person claimed 99 allowances on their W4, they would have zero withheld from their check. That would effectively give a person that makes $70k a year around a $250 raise for every two week paycheck. But then they'd need to find a way to have $6,000 withheld by the end of the year so they didn't get nailed with interest and penalties. Again, as I mentioned before, quarterly tax payments need to be withheld in roughly equal amount per quarter or else you get hit by penalties. HOWEVER, money that is WITHHELD from your paycheck is treated as if it was done equally throughout the year. So, in our hypothetical example, our guy claims 99 allowances on his W4 and increases his cash flow throughout the year. But by mid-November, he changes his W4 so that he has an "additional" $2,000 withheld from each of his last three paychecks. It effectively makes his last three paychecks of the year almost ZERO, so he better have stashed that extra $250 a paycheck from the rest of the year!

Now, another point, to avoid penalties, you need to have as much withheld as LAST YEAR'S tax libility (remember, we're not talking REFUND, as your refund has JACK to do with how much you ACTUALLY paid in TAXES). So, let's say for simplicity that our guy paid $4,500 in taxes last year. Then his goal would be to have exactly $4,500 withheld from his last 2 or 3 paychecks and skate in in a perfect position to avoid interest and penalties.

*whew*

Now this is a TON of work and a big shell game. Now, why would someone need to do this???? I can only offer one VERY compelling reason:

When a person is getting a divorce, the way that our F***ed up divorce laws work in WA state, each party is entitled to 50% (F***ing community property) of the tax REFUND or the tax OWED. So that means, if you have a soon to be Ex-Wife that's thinking that they're going to leach away some of the tax refund because they're divorcing you and sitting on their A** watching animal planet refusing to work, then it's in your best interests to make sure that the tax REFUND is as small as possible, or even a TAX OWED, because our stupid divorce courts don't care about making each party pay a share of the actual taxes, they go for the REFUND or OBLIGATION. (because it's real money or debt that people can get their mits on). Since the amount of refund you recieve from YOUR paycheck is under your control, it's one way you can influence how much your soon to be Ex will get from that bucket.

However, be careful with this strategy: If you give yourself a "raise" by having nothing withheld, that can come back and bite you in the A** because your W2 will show a higher net pay and that MIGHT influence a judge to give the soon to be ex a higher alimony or child support number. So, you make sure that you give W2's documenting your income BEFORE you mess with your allowances.

Divorce, Taxes, and Community Property. Three of the worst things ever created!

Any questions?

p.s. I got a return of around $1500 because I needed to have at least the amount of my last year's tax liability withheld. I am getting $900 from the stimulus because I negotiated to claim my son for over 1/2 the years as part of my divorce settlement (so I get $600 for me, $300 for him). I haven't got it yet. I got my refund with a quickness. I also got to write off the sales tax from buying my 328i and my ZX-6R 636 last year. People may hate the "W", but he got us that sales tax deduction for us in WA that don't have an income tax!!! Yeah, baby!

Oh, and as far as the guy in my previous tax example:
The previous characters are entirely fictional and any resemblance to actual persons, living or dead, is entirely coincidental. Some of the characters may have certain traits and/or mannerisms that may seem to suggest actual persons but we make no claim that these traits exist at all or in this combination in any person, living or dead.

Currently I'm claiming 2 exemptions, and I'm getting about $250-300 taken out of my checks, do I want to claim a smaller number or higher number?

To accomplish what?

Claim more dependents, less will be withheld. Claim less dependents, more will be withheld. But if you're single and don't have mondo itemized deductions and claim 2 dependents all year.... you'll probably owe at tax time. And, if you owe enough you'll get to add on a penalty for not withholding enough.

Jay

This is just a survey for Washington residents, those of you who work and have been working/doing your taxes, I'm currently curious as to who is eligible for the bonus which ranges from $300 to upwards of $1200 depending on AGI, claimed dependents, marital status, and home ownership status - those who have done their taxes last year, this year, and are eligible or have already received their economic stimulus payment, please select one of the options above - this is strictly for research purposes and you don't need to disclose information you're not comfortable with.

I'm still new to the advanced economic concepts that influence our federal and state monetary values, such as tax rate, exemptions, etc. Furthermore, those who have gotten their payment and are willing to share how much it was for, what have you guys done with it?

Currently I'm still waiting on mine because I did my taxes late this year (filed them on Saturday, and got my confirmation notice on Sunday morning) - but I'm eligible for $300 which is nice, as well as a pretty hefty return - but a few things puzzle me.

One of my friends has worked more hours and made more than I did last year, he also claimed a higher number on his allowances so more taxes were deducted from his paycheck every time than mine, the concept of it was that the more the government takes from each paycheck, the more of a return you would get the next year - unfortunately something went wrong because as we were sitting down and doing our taxes, I noticed that after he entered in any W-2 forms past his 2nd one, his refund started dropping considerably, regardless of the income that the job brought in - whereas when I did the same thing, my refund just kept increasing, even though I claimed a 0 on allowances, theoretically meaning that I would get a smaller return in exchange for less money taken out of my paychecks.

So why is this? How did my friend lose $3000 in taxes deducted from his paychecks last year, and his return is only $180 - not only that, but he did itemized deductions because of his college classes, the gas and maintenance on his car, etc - meaning that he should have gotten a larger refund, whereas I only had roughly $1200 in taxes deducted from my paychecks over the last year due to the fluctuating number of allowances I claimed at different jobs, and my return is marginally bigger than his, with a standard deduction and no itemizations. I'm very confused by all of this, the whole situation, especially with what's going on with my friend, it seems like the IRS just screwed him over, and we can't figure out why.

Edit: Even when he opted for the standard deduction and ignored itemized deductions, his refund did not fluctuate any significant amount, we're talking less than $10 here.

First payment should be May 2 via direct deposit. I'm paying off bills.

If you want to know about the economic effects of the stimulus package, just note that it might put off a recession for a year. Inflation will continue to rise. If my pay keeps up with inflation, I'm fine with it, as my loans go bye-bye much quicker.

However, generally speaking, not a fan of hyper inflation.

Nice BMW talk!

To accomplish what?

Claim more dependents, less will be withheld. Claim less dependents, more will be withheld. But if you're single and don't have mondo itemized deductions and claim 2 dependents all year.... you'll probably owe at tax time. And, if you owe enough you'll get to add on a penalty for not withholding enough.

Jay
+1

People may hate the "W", but he got us that sales tax deduction for us in WA that don't have an income tax!!! Yeah, baby!

"W" tried to kill the sales tax deduction in his budget of 2006 (I think, possibly 2007). Our senators, as worthless as they are, got it back in. If you can deduct your state income tax from your federal income tax, why not sales tax? Since I don't save every single receipt, I used the IRS formula and added expensive stuff--such as two bimmers.

"W" tried to kill the sales tax deduction in his budget of 2006 (I think, possibly 2007). Our senators, as worthless as they are, got it back in. If you can deduct your state income tax from your federal income tax, why not sales tax? Since I don't save every single receipt, I used the IRS formula and added expensive stuff--such as two bimmers.
But I thought there was no state income tax in this state, are you referring to other states where you could do that?

yes

"W" tried to kill the sales tax deduction in his budget of 2006 (I think, possibly 2007). Our senators, as worthless as they are, got it back in. If you can deduct your state income tax from your federal income tax, why not sales tax? Since I don't save every single receipt, I used the IRS formula and added expensive stuff--such as two bimmers.

Really? hmmm... I know that W was intrumental in getting it approved in the first place. He is from Texas, another one of the no income tas states...

If he tried to kill it later on, it's news to me. But I didn't follow it much except when I heard we got it back.

If W supported it or opposed it, that doesn't really matter anymore. Neither the Repub's or Demo's want anything to do with his legacy. Oh well.

And NO, I don't want to start a political discussion.

Btw, the $250-$300 withheld from your check, is that just federal withholding, or are you also counting social security and medicare? For purposes of this thread, we've all been talking about federal withholding, you never get SS/Med back.

Most states have a state income tax. Only two states have no sales tax. The idea in WA is that with no state income tax our sales tax is very high, however even states with a state income tax are now creeping up into high sales taxes too. Anyways, it's only been in the last few years that we've been able to deduct any sales tax on your returns (if you were in a state with a state income tax you would've been able to deduct that tax all along). However, deducting these taxes is part of itemizing which means you don't take your standard deduction, and if you're single, renting and work one job you almost certainly don't itemize so ignore this :)

Btw, the $250-$300 withheld from your check, is that just federal withholding, or are you also counting social security and medicare? For purposes of this thread, we've all been talking about federal withholding, you never get SS/Med back.

Most states have a state income tax. Only two states have no sales tax. The idea in WA is that with no state income tax our sales tax is very high, however even states with a state income tax are now creeping up into high sales taxes too. Anyways, it's only been in the last few years that we've been able to deduct any sales tax on your returns (if you were in a state with a state income tax you would've been able to deduct that tax all along). However, deducting these taxes is part of itemizing which means you don't take your standard deduction, and if you're single, renting and work one job you almost certainly don't itemize so ignore this :)

My example was hypothetical. The #'s might vary some. But yes, I was talking federal only, because that's the only one that your W4 affects and that you have psudeo control over.

And you're correct on your other points. :cool

Note it doesn't say 600, it says up to 600. =]

I think mine just arrived...

on my checking account it shows a direct deposit from the Treasury as a return -- although I received my return already for this year. Must be the kicker check.

I got mine on the 2nd of may. Was kind of disappointed. :az

I got mine on the 2nd of may. Was kind of disappointed. :az


Why?

Yup, got mine today.

Mine's coming in on Monday :)

But I snapped another axle yesterday so that's another chunk of it gone :(

they should hand out cheese rather than print new money

they should hand out cheese rather than print new money


Only in Wisconsin :(

not going to look through all this stuff just wondering I probably only make about 13,000 or so a year with this job and I claimed myself as a dep. so do I get this?

not going to look through all this stuff just wondering I probably only make about 13,000 or so a year with this job and I claimed myself as a dep. so do I get this?

Dude, you still selling paraphernalia out of Dick's parking lot to shifty customers? :devillook

http://i236.photobucket.com/albums/ff29/808AWD325xi/th_Mihnandlava.jpg (http://i236.photobucket.com/albums/ff29/808AWD325xi/Mihnandlava.jpg)

Dude, you still selling paraphernalia out of Dick's parking lot to shifty customers? :devillook

http://i236.photobucket.com/albums/ff29/808AWD325xi/th_Mihnandlava.jpg (http://i236.photobucket.com/albums/ff29/808AWD325xi/Mihnandlava.jpg)

maybe depends on who's asking :shifty

W00t just got mine today, $600!! =)

maybe depends on who's asking :shifty

lol :devillook

not going to look through all this stuff just wondering I probably only make about 13,000 or so a year with this job and I claimed myself as a dep. so do I get this?

So, anybody got an answer?

Well you can't really claim yourself as a dependent--you either claim someone as a dependent, someone claims you as a dependent, or you're not a dependent. If you mean that nobody claimed you as a dependent, then you should be receiving a check soon.

irs.gov for all the info.

Got mine on the 30th . . . $1200 for married couple. Our bathroom desperately needs a re-model so that's what our's is going for.

evette