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Woohoo!!!
At first I thought your "I love taxes!" was going to be a sarcastic remark because i don't know many people who actually use that phrase! lol I hope some of your good tax return luck rubs off on the hive!
I wasn't expecting much because last year I got under $200. :( And I also got a 10K paycut.
I have only gotten one tax statement so far, so no way of filing for at least a month. You probably got more because you were in a lower tax bracket after the paycut.
After much debate, here is my two cents:
Adjust what you're claiming and you get to have that money throughout the year. And not just get some of the money you overpaid back from the state/fed at the end of the year (they never give it all back). You can go to the irs website and use their tax calculator. It tells you how much you should claim as well.
I'm no tax professional but it's what I've learned over the years. Just be careful not to under pay. I did that once too (ouch). So I've found claiming 1 is sufficient for single income. Now I just have to figure out the whole married tax thing for next year. Oh joy.
@Shyness: It sounds like the reason she got so much back was because she had a huge paycut during the year which reduced her income and made it so that too much was withheld. We had our withholdings at single for the first half of the year and then when we got married and I wasn't working anymore, we ended up paying way too much in taxes and we are getting a big refund. I didn't think about this at the beginning of the year, but it's not something that will happen again.
Yay, that's awesome Tacos! I do love the surprises the tax office sends our way like that. I hate actually filing my self-assessment though. I always forget which numbers to put where!
@MissAsB: Sorry about that. I missed her follow up post. Just trying to be helpful.
that's great!! I was dissappointed last year when I had to pay for the first time....I changed things around last year so that they would take out more and I wouldn't have any surprises.
@Shyness: I wasn't trying to call you out. I agree with you that it is best overall to get your money over the year instead of giving the government an interest free loan! Unfortunately, things sometimes happen that mess up those plans. But good advice overall for sure!
yay!!!!!! Our tax returns are paying for most of the wedding so we're super excited to get ours!
Yay that's awesome! I love love love getting a huge check come May! Best part of my year, cause it always finances a vacation!
hahaha oh I love this thread!
@taco what are you doing in place of your job? sounds exciting! I am dreaming of quitting mine...
my FH's paid for my ring last year :) :)
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Bees, just wanted to EEEEEEEE a little bit!! I just filed my taxes and I am getting enough back in my return to quit my job June 1st when I thought I'd have to go all through July!
Not only that, but thankfully I got a raise also yesterday and I found $20 on the ground! So I have a LITTLE spending money every month now to go out with the girls, while also saving enough for college! :) :) :)
Thank goodness for small miracles!