Post # 1
Well, DH and I got married last August and we don’t have our W-2’s back, but I have been running numbers on website tax estimators, and I hope they are wrong. I know it doesn’t account for everything (like random gov tax credits), but based on the info I provided, it looks we will either owe money or come out to an even $0 depending on how we file.
I had a feeling this would happen because I jumped into the next tax bracket this past year. I am hoping the estimators are wrong and that we will get a small refund. I will definitely be adjusting my witholdings this upcoming year to make sure that we always equal out to $0 or get something back. I know it ends up being “the same” in the end, but I just don’t want to have to write a check at the beginning of the year.
How about you bees? Are you expecting good, bad or ok tax returns? Has anyone used an estimator? Was it close to accurate or way off?
Post # 4
I don’t bother with the estimators, I’ll find out soon enough. I did just find out that we can again claim out private mortgage insurance so I was super happy about that.
We get back quite a bit so we should probably update our withholdings
Post # 5
Well, I kind of hooe we get zero, that means the goverment hasnt had our money all year when they shouldnt have.
Post # 6
@chasesgirl: I know some people look at it as the government getting an interest free loan, which is fine, but I just don’t like the idea of writing a check to pay for taxes owed (especially because I wasn’t budgeting for it…which is my fault). I would rather get $0 or get a few hundred dollars back.
Post # 7
I hope so. We got married and had a baby.
Post # 8
I hope to be as close to 0 as possible and usually end up owing, a few years upwards of 3-4k.
Post # 9
We’re expecting zero. DH calculated and planned the deductions from our paychecks, however, I worked more overtime than we thought and got a larger bonus so I think we might end up paying.
I’m with you though, I would rather get money back (even though it’s an “interest free loan”) than have to pay.
Post # 10
@MrsBeck: I know! It’s like the thought of actually writing a check is more cringeworthy than the concept of an interest free loan. Getting money back is kind of like a weird Christmas present arriving late…writing a check is just like paying any other bill (zero excitement).
Post # 11
I’m expecting about 1800 back. I’m currently a waitress so my ‘paper’ salary is pretty low so I’m expecting to get back a majority of my federal and state.
i also get a tax write off for the student loan interest I paid so that’s nice.
Post # 12
Mine will be small or zero. DH’s will be large. I think the home buyer’s credit will go towards his taxes, he hasn’t had his taxes reduced for RRSPs, and he will claim some of my tuition credits. I would have preferred to get more of the money throughout the year, but he doesn’t want to bother with the paperwork.
Post # 13
Hah, getting money back is something we only dream about. We always owe. Especially now that our insurance is taxable, I’m slightly afraid of what we’re going to owe.
Post # 14
I always have an extra $20 of state & federal held out every paycheck, so I’m sure I’m expecting something [a few years ago I owed and would rather not have that happen again].
Not sure about what fi will get back as this will be the first year he’s filed at his new job.
Post # 15
I work a low paying part-time job and I also have tuition to claim from 2013, so hoping to get back a decent amount! DH makes way, WAY more money than me so he hardly gets any. We’ll probably use mine for a trip!
Post # 16
DH was deployed for half of this year so his taxable income is exactly $8,000. I’m in school full time and made about $2,000. The tax estimators say it should be about $4200-$4400, which would be amazing because it would give us the chance to pay off nearly ALL of our consumer debt.