@Anonymous wrote:
@Anonymous wrote:Has anyone filed their taxes yet? Getting anything good? Right now for me its looking like $6,000... Not too shabby I guess
-$3,500 (Yes, Negative.)
Ouch. When you are forced into paying money back, do you have the option of paying by installments or do you have to pay all at once?
Starting Score: EQ 732 October 2007; Current Score: EQ 839; TU 865, July 2022;
@Roarmeister wrote:
@Anonymous wrote:
@Anonymous wrote:Has anyone filed their taxes yet? Getting anything good? Right now for me its looking like $6,000... Not too shabby I guess
-$3,500 (Yes, Negative.)
Ouch. When you are forced into paying money back, do you have the option of paying by installments or do you have to pay all at once?
I guess you could do payments, But don't you have to pay interest on that?
I'm might be using a Barclays BT check to deposit....Although....
OTOH if i just had another bonus spend to meet I'd put taxes on that instead.. 
$1066 combined federal and state.
I was looking at ~$300 without the education credits I qualified for.
And of course, it's all going towards paying down debt (one card will be completely paid off, yay.)
@Anonymous wrote:-6781 dollars. Windfall from buying a house at auction and then having someone offer to buy it out from me before I ever owned it. About 1100 back from my w-2 earnings though.
Got a show for you ... "Flipping this House" on HGTV. Sounds right up your alley 
What the heck, a TV contract can't be all bad ...
@Revelate wrote:
@youdontkillmoney wrote:I usually get $10,000 from Federal return and $5,000 from State return.
This is because each pay period in addition to what is withheld, I withhold extra each pay period for Fed and State so I always end up payin gmore taxes than I owe.
I do it so I do not owe taxes plus I think of it ias the government saving my money for me for a year and then giving it back to me so I don't spend it when I get paid.
This is the last thing I would've expected from you
Why give the government an interest free loan of ~15K (ok not all of it is withheld at one time) rather than in one of your market investments?
Generally speaking from a financial perspective it's better to owe the government than get a refund... probably the reason SE folks have to file quarterly estimated taxes. Oh drat going to have to go do that again.
*******
You are 100% correct, I am losing interest and giving the gov. an interest free loan. I was aware of that, but I always liked the idea of force saving. Technically, I should calculate how much to withhold (+ extra) so that I owe nothing and get nothing back, and save the rest on my own pay pariod by pay period. I hear you.
DW and I screwed up royally. We filed ours using TurboTax last night, and it was accepted in like 15 mins by the IRS. Refund ($1928) to be direct deposited in 21 days. We were ok with that amount. Today, I checked the mail when I got home from work, and her 1098-T was there. HOW DID WE FORGET THAT??? We paid $8400 last year for school for her. Now I have to file an amendment, because we'll get $2500 of that back. So TurboTax suggests we wait for the $1928 to come, then file a 1040X (not available unti 2/12 this year). Brings the total to $4423, which is great, but I wish we would have waited an extra 24 hours to file. 
@ArmyVietVet wrote:
@Anonymous wrote:-6781 dollars. Windfall from buying a house at auction and then having someone offer to buy it out from me before I ever owneminent it. About 1100 back from my w-2 earnings though.
Got a show for you ... "Flipping this House" on HGTV. Sounds right up your alley
It was kind of a dumb Luck situation. I was looking in the area anyway. One house i really liked was going to auction the following month. I checked online, they had an auction the next day. Figured i would go just see what things were going for. I had actually looked at the house, and there were no bidders past the online price at 7400. I offered 7500, got it. Its in a rural area with no zoning. There was an person looking to buy out the whole subdivision and build an industrial plant. He missed the auction listing. 6 days before I was scheduled to close they called and asked if i was interested in an offer on the contract. I said I would be potentially interested...
32k later. My house was kind of key as it abutted 200 county owned and inaccessible acres he was buying as well. Pretty sure had i said no, i would have been eminent domained anyway. 