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Old 01-24-2015, 07:49 PM
 
189 posts, read 263,164 times
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did you also owe an under payment penalty?
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Old 01-24-2015, 07:57 PM
 
174 posts, read 170,024 times
Reputation: 229
I actually don't know. I used turbotax and didn't see any mention of any penalties. I only paid about 60% of federal tax prior to paying of the balance I owe now.
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Old 01-24-2015, 07:58 PM
 
18,866 posts, read 13,631,032 times
Reputation: 14296
Quote:
Originally Posted by BoredRestless View Post
I know I'm just complaining because of all the stuff I could buy if it weren't for federal taxes. I thought I would owe $1,000 not $2,750 when filing, I'm about to move and the difference is basically deposit and first months rent that I can't use anymore. 12.2% just for federal taxes alone is still a lot I think.

No my company doesn't do 401k match so I stopped contributing and put that money in other assets.


If you would have put 11k in your 401k you wouldn't have owed any federal tax
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Old 01-24-2015, 08:04 PM
 
174 posts, read 170,024 times
Reputation: 229
Quote:
Originally Posted by Lowexpectations View Post
If you would have put 11k in your 401k you wouldn't have owed any federal tax
This year but it would be taxed when I take the money out.
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Old 01-24-2015, 08:36 PM
 
18,866 posts, read 13,631,032 times
Reputation: 14296
Quote:
Originally Posted by BoredRestless View Post
This year but it would be taxed when I take the money out.
Tell me something I didn't know
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Old 01-24-2015, 09:48 PM
 
Location: Southlake. Don't judge me.
2,840 posts, read 3,761,404 times
Reputation: 3694
Quote:
Originally Posted by Lowexpectations View Post
Tell me something I didn't know
Raccoons have a bone in their winkie.
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Old 01-24-2015, 09:56 PM
 
Location: I am right here.
4,914 posts, read 4,071,936 times
Reputation: 15540
Quote:
Originally Posted by synchronicity View Post
Raccoons have a bone in their winkie.
As do most mammals! (except humans....)

Quote:
A southern custom says that, if a man wants to win a woman's heart, he should boil a raccoon <winkie> bone, tie it to a string, and give it to his sweetheart as a necklace.

So I think what we really are saying here is that taxes are sc**wing us...

I can't start taxes until late March/early April. I always get late forms. Always.
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Old 01-25-2015, 12:25 AM
 
Location: Vallejo
14,072 posts, read 16,098,416 times
Reputation: 12647
I usually start mine around April.

They're depressing as I always base my estimated payments off of the previous year and I've (thus far) made more money ever year, which is a good thing. Of course that means I owe money every year too.
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Old 01-25-2015, 12:17 PM
 
6,091 posts, read 2,828,745 times
Reputation: 6011
Is it just me, or is talking about the amount owed, or refunded, kind of silly? All it indicates is how accurate you were with your withholding/estimated payments. Nothing more.
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Old 01-26-2015, 12:00 AM
 
Location: 60630
12,253 posts, read 18,012,967 times
Reputation: 11696
We always overpay. . Purposely.
We are not trying to make it even. We are always getting money back due to child credit, student loan interest. This year we are getting 4700 federal and 400 state.
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