This is my first year doing my taxes. It was a pain I went over everything a zillion times and had other people look too. Grand total of 3,753.00 federal. 7.00 state. Total of 3760.
I never thought I would have gotten that much! But I do have a son,qualified for EIC, and some donation deductions.
I'm happy
2007-01-12 09:00:04 · 14 answers · asked by tsolworldwar3 2 in Business & Finance ➔ Taxes ➔ United States
That has been my average until 2 years ago when we had so many Med bills that up'ed our deductions....last year we got back 6200.00. I won't mention that it didn't come close to what was paid in med bills...
2007-01-12 09:09:02 · answer #1 · answered by Mikey ~ The Defender of Myrth 7 · 6⤊ 2⤋
My refund is typically the amount of the child tax credit, although last year we started a new business and with the loss generated by the new business, my total federal and state refunds were close to $7,000.
2007-01-12 17:19:10 · answer #2 · answered by jseah114 6 · 2⤊ 0⤋
$3753.00 is $72.00 per week. If I where you, I would adjust my W-4 to reduce my withholding and get the money in each paycheck. If most of your refund is from the EIC, you can fill out a W-5 and have that included in your paycheck as well. The IRS withholding calculator (second link) will help you decide how to fill out the W-4 to match your withholdings to your actual tax and keep the most in your paycheck. Any refund represents a interest free loan you gave the IRS.
2007-01-12 18:46:24 · answer #3 · answered by STEVEN F 7 · 1⤊ 2⤋
Since I bought my place, my returns have gone up each year. This year I'm getting $3989 from the Federal gov and 207 back from the state.
I do have them take more out because for me this is a great way to save money for the following year and not get temped to take some out on a whim.
2007-01-12 17:24:56 · answer #4 · answered by Jason 4 · 2⤊ 1⤋
I am a single mother of one child and I make about $30k. I usually get a refund of about $4k. It's because of the EITC, Child Tax Credit, and the deductions for daycare and 401k contributions.
Are you sure about the charity donation deduction? I don't think you can use that UNLESS you itemize. If that is true then you must have an awful lot of expenses. I use the HOH standard deduction and it deducts a LOT more than if I itemized.
2007-01-12 17:09:36 · answer #5 · answered by eccentricmommy 3 · 2⤊ 2⤋
$1675.00 Federal $7.00 State
2007-01-16 13:25:19 · answer #6 · answered by sis79 2 · 0⤊ 0⤋
I don't get anything back, because I do the math at the beginning of the year, and have the correct amount withheld.
You are giving the government an interest free loan. I'm sure you have better uses for your money.
2007-01-12 17:04:43 · answer #7 · answered by Lisa A 7 · 2⤊ 2⤋
we get 100$ back each year .
we do not loan the IRS any money during the year.
we legally take out as many decutions as possible to minimumize the money carried over , so can you next year.
get your money each paycheck .
you'll be happier.
if you get 3700$ back you are loaning the feds 142$ per paycheck (2week) WHY?
2007-01-12 17:07:48 · answer #8 · answered by Anonymous · 4⤊ 2⤋
Good for you! Seriously! I usually get between $20 and $50. I make about 35k per year, and they take out about 25% or more, but I never get anything back!
2007-01-12 17:03:50 · answer #9 · answered by misscongeniality711 2 · 2⤊ 3⤋
Usually get about the same
2007-01-12 17:03:26 · answer #10 · answered by danp 3 · 2⤊ 1⤋