I Heart Turbo Tax

[Dominic Toretto]

Originally Posted by re-rx7 wAIT...yall get money back?!!

Every year since 2001.

-Alex

[Dan12GT]

Originally Posted by re-rx7 wAIT...yall get money back?!!

I usually get quite a bit back. I file married with single tax %s, or what ever its called. I got almost $8k back last year but my wife and I use that to pay her taxes as she is self employed. That $8k turned into $20

The things I could have done to the Mustang....

[re-rx7]

Man I gta have a kid or make less

[Dominic Toretto]

Originally Posted by re-rx7 Man I gta have a kid or make less

What does the amount of your income have to do with it? No matter how much I make, I ALWAYS get a return. Or maybe you are doing like a lot of people at my job and just not having taxes taken out during the year, so they end up owing.

Either way, the more I make, the LARGER my return has been.

-Alex

[re-rx7]

No my taxes are taken out through the year. I always owe Oklahoma monies.

[Dan12GT]

Depends on your occupation too. Take my brother for example who makes 60% of what he makes from commission. That is a very hard thing to take steady taxes payments out pay check to pay check. So he is only taxed on 40% of what he makes. He ends up owing a lot at the end of the year because 60% of his earning went un-taxed.

Its best to try and establish a baseline so when your taxes are paid on a pay check to paycheck basis you are caught up come the end of the year, or have over paid a bit.

People sometimes don't like to over pay and want the absolute minimum withholding. Which inst a bad way to go about it just don't expect as much or any money back when other people who have had more of a % withheld throughout the year from their earnings.

It works for me to do maximum withholding to use that cash for the other taxes my wife and I have to take care of.