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How will you use your tax refund if you get one? I am boring. Mine is going to savings.
I don't get a refund. I aim to pay every year.
Why give the government a free loan of your money for over a year ?
Just think if you had put that money into your savings all throughout 2015.
Instead you let Uncle Sam have it for free and now he's giving you back your money that you gave to him interest free.
I don't get a refund. I aim to pay every year.
Why give the government a free loan of your money for over a year ?
Just think if you had put that money into your savings all throughout 2015.
Instead you let Uncle Sam have it for free and now he's giving you back your money that you gave to him interest free.
I do not get a refund because I withhold too much. I get a refund because of EITC and refundable tax credits. You can not get it back prior to filing your return.
I don't get a refund. I aim to pay every year.
Why give the government a free loan of your money for over a year ?
Just think if you had put that money into your savings all throughout 2015.
Instead you let Uncle Sam have it for free and now he's giving you back your money that you gave to him interest free.
I try to think of it like that. But when I see our paychecks with 40% taken away, I thought it was for sure because we were being overly cautious by withholding 0.
Not only is that 40% of our paychecks actually gone, they want to take even MORE!
My husband thought for sure we'd be getting a fat refund like the $13,000 we got last year. But then I got promoted, and apparently being bumped into the next bracket (both me and us jointly) somehow changed everything.
I think there should be deductions for living in a high COL area. $250K salary here in the Bay Area is like $80K in Idaho Because we're a married couple who is young, childfree, and don't own a house yet (we're trying to save up for a house and for having a kid), we get hit hard during tax season. Kind of makes it hard to save up enough to actually do the things the IRS apparently rewards so much!
I seriously feel like I actually took home more when I earned less money. Lol. So much for working hard to get that promotion and working 50+ hours a week ever since.
I try to think of it like that. But when I see our paychecks with 40% taken away, I thought it was for sure because we were being overly cautious by withholding 0.
Not only is that 40% of our paychecks actually gone, they want to take even MORE!
My husband thought for sure we'd be getting a fat refund like the $13,000 we got last year. But then I got promoted, and apparently being bumped into the next bracket (both me and us jointly) somehow changed everything.
I think there should be deductions for living in a high COL area. $250K salary here in the Bay Area is like $80K in Idaho Because we're a married couple who is young, childfree, and don't own a house yet (we're trying to save up for a house and for having a kid), we get hit hard during tax season. Kind of makes it hard to save up enough to actually do the things the IRS apparently rewards so much!
I seriously feel like I actually took home more when I earned less money. Lol. So much for working hard to get that promotion and working 50+ hours a week ever since.
You're paying 40% of each paycheck in taxes??
I think you are doing something very, very wrong. Our household is a 5 percenter, and we pay less than half of that. I think it was something like a 15% effective rate.
Would you feel comfortable sharing your income and what percentage goes to each category? I get the feeling we could save you literally thousands and thousands of dollars here.
I try to think of it like that. But when I see our paychecks with 40% taken away, I thought it was for sure because we were being overly cautious by withholding 0.
Not only is that 40% of our paychecks actually gone, they want to take even MORE!
My husband thought for sure we'd be getting a fat refund like the $13,000 we got last year. But then I got promoted, and apparently being bumped into the next bracket (both me and us jointly) somehow changed everything.
I think there should be deductions for living in a high COL area. $250K salary here in the Bay Area is like $80K in Idaho Because we're a married couple who is young, childfree, and don't own a house yet (we're trying to save up for a house and for having a kid), we get hit hard during tax season. Kind of makes it hard to save up enough to actually do the things the IRS apparently rewards so much!
I seriously feel like I actually took home more when I earned less money. Lol. So much for working hard to get that promotion and working 50+ hours a week ever since.
You did. We have a progressive tax system..the more you make the more you pay.
And yet all we hear on the news is how the rich "don't pay taxes".
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