so can someone explain how you dont over pay? have always got a decent refund.. is it because that many of you are self employed?
so can someone explain how you dont over pay? have always got a decent refund.. is it because that many of you are self employed?
I make sure I don’t have to pay much or allow them to hold more of my money than necessary. A good year is an even tax year.
We actually have ours done and with my wife not able to work anymore we managed to get a little money back. First time in years! We celebrated with a bowl of soup so it wasn’t much money.
Lots of ways, but most everyone's situation is different so best for you to consult a tax professional/accountant.Originally Posted by basshammerwannabe
And yes, getting a big refund is nice but that just meant you overpaid the gov't. If you set things up 'perfectly', you won't need to pay the IRS on April 15th, or get a refund.
they could cut half of the govt workers an nobdy would know it look at the post office a govt buz that loses 10 billon dollars a year an stil has $hitty service. they just need to start over with a sustainable business plan like the rest of the companies in the US has to do or shut it down send everybody home an let them reapply if they want to work.
I came out just right. Would of got a refund of about $200 prior to any tax credits.
So if you OVER pay, you're NOT paying taxes. Got it!
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Our state in its infinite wisdom decided to give us a break on our property taxes we pay the county. But they are giving in back to you through your state income taxes. Wasn’t bad until we found out we are missing some kind of paper on the homestead deal. We called the state tax dept in Charleston they were supposed to send us the paperwork over three weeks ago. Charleston is only 50 miles away we still have not received it. WV Sucks.
My taxes were just completed by my accountant the other day. I owe around $47k after giving the thieves enough money to purchase a new, loaded Ranger bass boat. I'm getting a refund from the State after aggressively going through my monthly bank statements to find a lot of sales taxes paid throughout the year. I needed to recoup an extortion tax of $3,500 on my 80 acres the State imposed.....to long of a story to explain.
Our Government is corrupt as hell and I hope it gets dismantled by 80%. The government is being exposed, but some people still can't see it....unbelievable...
M
The other option is to loan it to your bank at .01% interestCommonly called “over paying”, but the govt thanks you for the interest free loan.
Boat less bank trash
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'It gets sucked in'
Owed the Feds $7,000 and got back $3,500 from the state. It’s impossible to line the two up.
You need a new bank, mine pays 3.75%.
How much are you being penalized for not having estimated your taxes? since owing $47,000.00 would carry a big penalty on state taxes alone in NYS. Congrats on being blessed with that much income though.My taxes were just completed by my accountant the other day. I owe around $47k after giving the thieves enough money to purchase a new, loaded Ranger bass boat. I'm getting a refund from the State after aggressively going through my monthly bank statements to find a lot of sales taxes paid throughout the year. I needed to recoup an extortion tax of $3,500 on my 80 acres the State imposed.....to long of a story to explain.
Our Government is corrupt as hell and I hope it gets dismantled by 80%. The government is being exposed, but some people still can't see it....unbelievable...
M
Goldman Sachs currently paying 3.85 down from over 4 over the last couple years. Highly suggest modifying W4’s or increasing 401k/403B contributions, saving in an IRA, anything besides free
money to the government. Just make sure you cover 90 percent of your tax liability to avoid penalties.
We already pay more than enough!
I’m waiting for the IRS to be eliminated and we pay a flat tax. Paying someone $200 to $300 to do your taxes is insane imho.
i need some damn classes.. most of yall just have accountants or financial advisors? Im having a hard time understanding how so many come out even or owe.. unless its all through their own business/company or multiple.. Know there are tax brackets, and depends on what you claim.. so say making 100k per year you pay 20k in fed taxes through the year, social security tax without is around $6-7k, and medicare another $1500 or so..
so are some not taxed each time they recieve a paycheck the same as much due to the way they have things "set up"? what you are saying is if you have it set up right you pay less each paycheck through out the year? just dont get a refund but reality is you gained more throughout the year this way then if you of paid more and would of got a refund? Sorry im all over the dang place, brain feels like how fishing usually leaves my head
It's a service that you choose. There are a lot of ways to complete your tax return for free or cheap on your own. But honestly a good accountant can save you more money than they cost you over the years if they're being diligent in asking questions based on their knowledge of the tax code. You just have to find that person/firm. Just my humble, educated opinion.
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at what point does one use an accountant vs file their own. turbo tax etc? I know my dads used one for years, when i was younger i used to just pay the same guy what felt was a small amount.. Since being married my wife has always used turbo tax and dont see any difference really.. now have 2 kids and 2 mortages with 1 being a rental so may be more reason to do so
Well if you want to be dense about yes!
P.S. I added extra to my initial post so you feel better.
Last edited by Dixie-Raven; 03-11-2025 at 12:14 PM.
Only way I know is to claim more exemptions that lessens your tax burden each payday and then at the end of the season you end up owing since you underpaid during the season.
As said before I would rather overpay and get a refund that I always rollover into paying a large property tax or insurance bill.
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