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Old 01-25-2011, 03:08 PM
 
354 posts, read 2,076,288 times
Reputation: 150

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This year we are going to use our refund for a vacation to Hawaii for a family of 3. I claim 3:1 on my w2's and put the extras into a savings account. Even though I paid out 14k in taxes,ss,mc and state. Uncle Sam still want me to pay an additional 4.8k. In the end I'm able to get a refund because I have approx 48k in deductions from primary and rental property so it work out just fine.
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Old 01-25-2011, 05:05 PM
 
Location: Las Flores, Orange County, CA
964 posts, read 2,648,216 times
Reputation: 578
I'm getting around $3700 and I'm going to invest it all on hot new rims for my 1988 Toyota pickup.
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Old 01-25-2011, 11:29 PM
 
Location: 53179
14,416 posts, read 22,490,288 times
Reputation: 14479
How about this, the only reason I get a refund is because of the child-credit and the childcare expenses ( 2700 ). If I had no child, I would be owe a few hundred dollars. So yes, I am happy to get a refund!
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Old 01-26-2011, 05:31 AM
 
5,500 posts, read 10,522,520 times
Reputation: 2303
Zero hopefully so I didn't give the government a loan in 2010.
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Old 01-26-2011, 06:43 AM
 
Location: Las Flores, Orange County, CA
964 posts, read 2,648,216 times
Reputation: 578
Quote:
Originally Posted by glass_of_merlot View Post
How about this, the only reason I get a refund is because of the child-credit and the childcare expenses ( 2700 ). If I had no child, I would be owe a few hundred dollars. So yes, I am happy to get a refund!

That's not the only reason. That's not even the reason.

The reason you get a refund is because you set up your exemptions in such a way that you overpay taxes all year.
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Old 01-26-2011, 09:29 AM
 
9,238 posts, read 22,902,469 times
Reputation: 22699
Oh, I forgot to mention, that of the about $5,000 I'm getting, at least $500 is going to charities of my choice. I never miss it, and it always comes back to me somehow.
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Old 01-26-2011, 09:40 PM
 
Location: 53179
14,416 posts, read 22,490,288 times
Reputation: 14479
Quote:
Originally Posted by proudmommy View Post
That's not the only reason. That's not even the reason.

The reason you get a refund is because you set up your exemptions in such a way that you overpay taxes all year.

No.. that is not the reason.. I am definitely NOT overpaying anything. Trust me.
I get a $1000 bucks for my son, and so much ( not sure of the % ) for child care expenses. Take those off and I would be owe money.

My ex baby sitter have 5 kids. They get back over 5 grand every year. They are a one income family making 15 k gross a year, at most. Do you really think they over paid 5 k in taxes?
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Old 01-27-2011, 01:42 PM
 
Location: colorado
2,788 posts, read 5,092,871 times
Reputation: 3345
Quote:
Originally Posted by tropolis View Post
i should get 2,000 for sure, maybe more. what will I do with it? dont know.

Im getting close to $7,000 and Im buying another jeep...Im without a vehicle right now...just sold my other jeep to my brother...wasnt about to put anymore money to fix it up...
Im getting my jeep this Saturday...Im so happy..
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Old 01-27-2011, 01:43 PM
 
Location: colorado
2,788 posts, read 5,092,871 times
Reputation: 3345
Quote:
Originally Posted by glass_of_merlot View Post
No.. that is not the reason.. I am definitely NOT overpaying anything. Trust me.
I get a $1000 bucks for my son, and so much ( not sure of the % ) for child care expenses. Take those off and I would be owe money.

My ex baby sitter have 5 kids. They get back over 5 grand every year. They are a one income family making 15 k gross a year, at most. Do you really think they over paid 5 k in taxes?


I think its the earned icome credit they are getting, be happy for them..it will come in handy for them and their children.
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Old 01-27-2011, 01:48 PM
 
Location: colorado
2,788 posts, read 5,092,871 times
Reputation: 3345
Quote:
Originally Posted by THANKGOODNESSIMFABULOUS View Post
Does anyone know when the irs updates their "where is my refund" website and how accurate it is? And what day of the week they actually process the direct deposits?

Yes you can call them at 1-800-829-1954
you need your ss#. filing status, and refund amount
and yes they are accurate, even let you know when your going to get it, or when its going to be direct deposit in your account
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