Got our taxes done

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  • #80085 Reply

      Came out owing $21.00 to federal and broke even with state.

      #80088 Reply

        This may be a really dumb question but I’m still learning- why do we want to not get a tax return? I understand having more in your check by taking less out…

        #80089 Reply

          We ended up owing $3600 but part of my income is independent contractor, so we budgeted for it! Baby steps winning!

          #80090 Reply

            This is way more impressive to me than someone getting 3600 tax refund and paying off a credit card bc they were 200$ short each month.

            #80091 Reply

              Very impressive! I owed $122 to the feds and got $357 back from state and thought that was good.

              #80092 Reply

                We ended up owing because my company was acquired and the new company took out less federal taxes. That said, we got to apply our tuition credit to our kids so they are each getting back $1000 more than they planned. And luckily when I saw my new company was taking out less, I started setting aside some in preparation until I could talk to our accountant. I’ve updated my w-4. Another thing that threw us off was that my daughter can’t both be a dependent and get the tuition tax credit at 18, so we lost that for this year.

                But my son, who is 19 can do both. Who knows why that is, but that’s what our accountant told us after she had to do some research.

                #80093 Reply

                  Nice! We got $37 back. Pretty close to even.

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