Getting a refund, or owing on taxes? - Page 2

TYEster · 02-16-2010, 10:20 PM

Already got a return and wasted it.

Mrs. Colleen · 02-16-2010, 10:31 PM

Quote:

Originally Posted by Captain Morgan

I'm getting a refund from Fed, but owe State. At least I owe state less than I'm getting back from Fed. Both amounts are fairly small, just the way I want it. I don't want the gov earning interest on too much of my money, but also don't want to pay a fortune. What about you guys?

Yes.

Adeptus_Minor · 02-17-2010, 12:39 AM

We don't have a state income tax (yet) and I generally just about break even on my federal.
I consider that just about right.

smileyman · 02-16-2010, 11:01 PM

I owe the Fed 119, but get 540 from state...

Rangerscott · 02-17-2010, 01:26 AM

Where's the fed only option. I don't have state tax.

the chi · 02-17-2010, 07:28 AM

Already got state back, since Im a military dependent I get to file as a FL resident still, so I got all that back. A decent Fed return, enough to pay off some bills pertaining to the wedding.

I'm so terrified of having to pay the govt. I actually take a small bit of each paycheck and have it added to my regualr taxes, ensuring i get at least a small amount back.

tommymac · 02-17-2010, 07:40 AM

I am totaly unsure of what will happen this year. last year I paid 4k in federal and about 1k in state (damn 1099) I was able to claim a bit more since i had to take a recertification exam and some other work/educational stuff.

Went with a new accountant last year and he set me up with paying estimated taxes so i already paid roughly the above amounts. Now withthe house I hope to do better but need to see what our best option is for tax breaks. For the tax credit on purchasing a new vehicle and a ne whouse I made too much by myself and jointly I may still take us over, so we havent decided how to file yet and will be talking to the acct next month to sort it out.

I will be psyched just to break even this year and any money back is def a major win.

Rider · 02-17-2010, 09:01 AM

I already got back my federal last Friday, about $4K, but I owe $121 to the state.

LeeNetworX · 02-17-2010, 09:08 AM

Got refunds from both. Went straight into savings.

lauralynne · 02-17-2010, 09:13 AM

refund - I think. We're still waiting on sched. K-1 to know if there's a profit or a loss with the shop.
Reduced our refund amount by about $6,000 though!!

View Poll Results: Getting a refund from fed and state, or owing taxes?
Getting a refund from both	28	71.79%
Getting refund from one, owe the other	6	15.38%
Owe both	1	2.56%
Tater's whore of an ex-wife owes me. Bitch betta have my money!	4	10.26%
Voters: 39. You may not vote on this poll

02-17-2010, 12:39 AM	#3
Adeptus_Minor Hopster Join Date: Nov 2008 Location: Austin, TX Moto: 2009 Buell 1125R Posts: 4,743	We don't have a state income tax (yet) and I generally just about break even on my federal. I consider that just about right. __________________ “Well, obviously before; after was all gendarmes and dick stitches.”

02-16-2010, 11:01 PM	#4
smileyman White Trash Hero Join Date: Mar 2008 Location: NW Arkansas Moto: Buell 1125R Porco Rosso Edition Posts: 4,895	I owe the Fed 119, but get 540 from state... __________________ Arkriders.com To be the best you must first be willing to risk the worst!

02-17-2010, 09:13 AM	#10
lauralynne 667:Neighbor of the Beast Join Date: Mar 2008 Location: Everett WA Moto: VTR1000, SV650, FZR400, CRF150 Posts: 1,403	refund - I think. We're still waiting on sched. K-1 to know if there's a profit or a loss with the shop. Reduced our refund amount by about $6,000 though!! __________________ WMRRA's slowest Expert! triathalete, mom, racer, rider, friend, sister, wife - all in one tidy package! Married my best friend 8/30/09

02-16-2010, 10:20 PM	#1
TYEster With MORE TYEstosterone Join Date: Dec 2008 Location: TX Moto: '12 KX450F / 08 YZ250F #512 / 07 KX65 #1 Posts: 1,429	Already got a return and wasted it.

02-17-2010, 01:26 AM	#5
Rangerscott Viff6N Mutated Warrior Join Date: Mar 2009 Location: Texas Moto: '01 Honda VFR 800 & '09 ER-6N Posts: 8,704	Where's the fed only option. I don't have state tax.

02-17-2010, 07:40 AM	#7
tommymac Moto GP Star Join Date: Nov 2008 Posts: 11,022	I am totaly unsure of what will happen this year. last year I paid 4k in federal and about 1k in state (damn 1099) I was able to claim a bit more since i had to take a recertification exam and some other work/educational stuff. Went with a new accountant last year and he set me up with paying estimated taxes so i already paid roughly the above amounts. Now withthe house I hope to do better but need to see what our best option is for tax breaks. For the tax credit on purchasing a new vehicle and a ne whouse I made too much by myself and jointly I may still take us over, so we havent decided how to file yet and will be talking to the acct next month to sort it out. I will be psyched just to break even this year and any money back is def a major win.

02-17-2010, 09:01 AM	#8
Rider Moto GP Star Join Date: Feb 2008 Posts: 12,156	I already got back my federal last Friday, about $4K, but I owe $121 to the state.

02-17-2010, 09:08 AM	#9
LeeNetworX SFL Expatriate #1 Join Date: Nov 2008 Location: ATL Burbs Moto: '09 Triumph Speed Triple Posts: 4,712	Got refunds from both. Went straight into savings.