Your refund is just whatever amount you overpaid in withholding over what your tax liability actually is.
If you want a large refund, fill out a new W-4 asking to have $100 a week additional withheld from your paycheck. Next year you'd get around $5000.
Doesn't sound like a good idea? I didn't think it would. But comparing your refund to someone else's doesn't make any sense.
2007-03-20 15:01:52
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answer #1
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answered by Judy 7
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I'd recommend TurboTax software. At about $40, it costs a lot less than even a relatively cheap place like H&R Block. But more than that, it walks you through every possible consideration - in plain English - so that you know exactly how you arrived at your refund amount. The way it's presented, anyone can walk through the program without taking too much time. And it's updated constantly, so you have access to the latest changes in your favor. I think that's a lot better than blindly handing over your info to someone and hoping for the best outcome.
Even if you use H&R Block again this year, it might be worth it for you to buy the software anyway, run the program, and see how much difference there is between that and what H&R Block concludes. If nothing else, it should give you some piece of mind. Good luck.
2007-03-20 09:58:12
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answer #2
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answered by Marko 6
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Nobody can get you any larger of a refund than you are already entitled to.
Comparing your refund to someone else's is like comparing your shoe size to the taste of an orange. It's a meaningless comparison. Your refund is based upon your total tax liability and how much money was withheld from your pay. Nothing else matters or figures in to the equation.
If you want a bigger refund, tell your employer to withhold more tax from your pay. You'll get a smaller paycheck each payday, but you will get a larger refund. Giving the government an interest free loan like that is pretty stupid in my opinion but if that's what rocks your boat, go for it.
2007-03-20 09:58:52
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answer #3
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answered by Bostonian In MO 7
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There's nothing wrong with H & R Block. They do an adequate job of getting your taxes completed. However, they are much more interested in getting THEIR money than they are in maxing out your tax return.
I've been using Turbo Tax for the past six years. It's a self-guided program that is very easy to use. There are other similar programs out there, but for my money, Turbo is the best. It will guide you through every phase of the return; tell you what you're getting back; lead you through a "Deduction Maximizer" program and allow you to file electronically. (You get your return in 9-12 days rather than 4-6 weeks). You also get one free state return (with Turbo Deluxe). When you're federal taxes are done, you're just a few clicks away from completing your state return. This data is automatically imported from the federal forms.
The best part of the whole deal is that you can DEDUCT the cost of the program on next year's taxes. (Tax preparation fees are deductable). So is doesn't really "cost" you anything.
2007-03-20 09:55:20
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answer #4
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answered by mrvid2002 2
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If you want to reduce your taxable income, then you
should put some pre-tax money in a 401K if you
employer allows it. Some employers even match
your contribution.
Another option is to open an IRA.
These 2 options will reduce your taxable income and
possibly get you more of a refund and also give you a
retirement plan.
2007-03-23 10:10:37
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answer #5
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answered by FEE_PHI_PHO_FUM 2
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where you go has nothing to do with it - you only get a refund if you paid too much in taxes, if your employer took too much out - unless the tax preparer's fee is eating it up
2007-03-20 09:57:02
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answer #6
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answered by Anonymous
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If everyone gets all the same info from you, the refund should be the same no matter where you go.
Anthony, CPA
2007-03-20 11:10:51
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answer #7
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answered by Wychdr 2
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