How much is YOUR tax refund going to be?

Discussion in 'Community Discussion' started by iMJustAGuy, Jan 22, 2010.

  1. iMJustAGuy, Jan 22, 2010
    Last edited: Feb 1, 2011

    macrumors 68020

    iMJustAGuy

    Joined:
    Sep 10, 2007
    Location:
    Beach, FL
    #1
    If you don't mind me asking.

    Mine will be around $1900 but I don't have any children, am single, and don't make Steve Jobs salary. :D


    Also, will you be purchasing any Apple products with it?
    New (first mac) 27 incher for me... ahhhHHH!!!
     
  2. macrumors Nehalem

    GoCubsGo

    Joined:
    Feb 19, 2005
    #2
    Negative. The feds bend me over, **** me up the rear and never say thanks.
     
  3. macrumors 68000

    MacMini2009

    Joined:
    May 22, 2009
    Location:
    California
  4. thread starter macrumors 68020

    iMJustAGuy

    Joined:
    Sep 10, 2007
    Location:
    Beach, FL
    #4
    DANG man, that stinks! (LOL btw) I have a friend who owes $3,000 this year but doesn't care. He said he'd rather pay at the end and get more throughout the year ! :eek: !
     
  5. macrumors regular

    Joined:
    Jun 11, 2007
    Location:
    Silicon Valley
    #5
    If my fixed withholding math works out correctly, I hope to find myself with a refund close to $0 without going "under". Uncle Sam makes a lot more than I do so I don't need to be lending him any money at 0% interest. :)
     
  6. macrumors 65816

    strider42

    Joined:
    Feb 1, 2002
    #6
    If you manage your money, its way better to get as small a refund as possible, or owe money. You pay exactly the same amount of tax, but you can use that money throughout the year, and aren't giving the government an interest free loan. My ideal is to owe the government a small amount of money each year, and put money away in savings that earn interest.
     
  7. macrumors G5

    jav6454

    Joined:
    Nov 14, 2007
    Location:
    1 Geostationary Tower Plaza
    #7
    Like jessica. said before me. I always get bended over by the IRS.... although I think this year, it's going to be lower because I asked my employer to take an extra amount for taxes out of my check... still never enough for the IRS.
     
  8. macrumors 68020

    kellen

    Joined:
    Aug 11, 2006
    Location:
    Seattle, WA
    #8
    I am surprised, getting nearly 6,000 back. I just did it last night, very happy about this. Weird circumstances though, I only worked half the year and went back to school, so I qualified for some nice credits for education.

    Now I know it was my money to begin with, but it feels like free money. Beats paying!
     
  9. thread starter macrumors 68020

    iMJustAGuy

    Joined:
    Sep 10, 2007
    Location:
    Beach, FL
    #9
    Honestly it doesn't bother me that I'm lending at 0%. I think of it as a punishment so I won't spend so much during the year and then I get it all back at once... Then again, I just spend it all again anyway. It really doesn't matter to me, as long as I don't owe, I never want to owe.

    It does feel like free money! lol.
     
  10. macrumors G5

    yg17

    Joined:
    Aug 1, 2004
    Location:
    St. Louis, MO
    #10
    $1600 from fed, $160 from state.

    For a single person with one full time job, no dependents and not claimed as a dependent, how many allowances can you claim on a W4? The instructions on the form say 2, but that just never seemed right so I have one allowance which might be why my refund is so much. I'd rather get more out of each check and get a smaller refund.
     
  11. macrumors regular

    Joined:
    Jun 11, 2007
    Location:
    Silicon Valley
    #11
    You can claim any number of allowances you want - but you'll be stuck with a tax bill and possible underpayment penalties if you're overzealous. I claim 99 allowances and enter a fixed withholding amount on my W4 for state and federal, usually adding a bit of "slop" for a small refund just to be safe.
     
  12. macrumors Nehalem

    GoCubsGo

    Joined:
    Feb 19, 2005
    #12
    That's not why for me. I'm not an idiot who tries to get more per paycheck. It's about tax brackets.

    And folks, don't be stupid and take tax advice from people on a mac forum. Just sayin'.
     
  13. macrumors 601

    Joined:
    Jun 1, 2007
    Location:
    Chicago, IL, USA
    #13
    Well if anyone has the self-control to set it aside and earn interest on that money during the year, it's not a bad idea. I've been doing that for a while, and though it doesn't end up earning me much, it's still a bit more that I wouldn't have otherwise.
     
  14. macrumors 6502

    Joined:
    Feb 19, 2006
    #14
    right now sitting around $5500... still waiting for a few forms to come in (like student loan interest) but it shouldn't go down, only up. I fully understand the concept that I am "loaning" the IRS money, but if I had an extra few hundred bucks coming in each month, I'm sure I would blow it on something.
    Having twins last March definitely helped the return this year, it isn't usually this big. I plan on putting about have of it in their Future Fund accounts, (since the are the reason for the sizeable return) and maybe putting the rest towards a trip to Vegas this summer.
     
  15. macrumors 601

    Prof.

    Joined:
    Aug 17, 2007
    Location:
    Chicago
    #15
    I think I claimed ONE, so I might end up owing money. :(
     
  16. macrumors 65816

    scotty96LSC

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    Oct 24, 2007
    Location:
    Charlotte, NC
  17. thread starter macrumors 68020

    iMJustAGuy

    Joined:
    Sep 10, 2007
    Location:
    Beach, FL
    #17
    Wow, dude. I would be too. At the same time, though, you must have gotten a bit more during the year.
     
  18. macrumors 601

    Joined:
    May 22, 2008
    Location:
    Milwaukee, WI
    #18
    Yep. +2

    Actually, no it doesn't. If I owe $6 and you get $6,000 back, I win!

    Good for you!

    I have to claim TEN on my state W-4 just so they won't owe me more at the end of the year. I still get a small refund. Drat!
     
  19. macrumors 6502a

    Joined:
    Oct 21, 2009
    Location:
    Among the starlings
    #19
    Negative. I pay estimated taxes instead of withholding, and my income this year is more than last year.
     
  20. macrumors 68040

    steve2112

    Joined:
    Feb 20, 2009
    Location:
    East of Lyra, Northwest of Pegasus
    #20
    What is this refund of which you speak? I'm single, with no dependents. I get raked over the coals. It's really weird working for the feds, since I feel like I'm paying them for the right to work for them. Ah well, it comes out positive in the end.
     
  21. macrumors 65816

    Zombie Acorn

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    Toronto, Ontario
  22. macrumors 603

    swiftaw

    Joined:
    Jan 31, 2005
    Location:
    Omaha, NE, USA
    #22
    About $400 due to the fact that they were withholding too much for the first half of 2009. Corrected that in the second half and put the difference in my savings account.
     
  23. macrumors P6

    dukebound85

    Joined:
    Jul 17, 2005
    Location:
    5045 feet above sea level
    #23
    Hmm, wont be getting my W2 till like end of jan

    However, should i expect to get a tax refund if I have 3 federal allownaces and 2 state?

    I am single, living by myself and this was my first year of "a real job"
     
  24. macrumors 603

    swiftaw

    Joined:
    Jan 31, 2005
    Location:
    Omaha, NE, USA
    #24
    One Job, Single, Living Alone, the 'correct' number of allowances is 2. However, you also get a $400 back to work tax credit, so you might end up close to zero with that extra allowance.
     
  25. macrumors regular

    Joined:
    Jul 9, 2007
    #25
    Too scared to get mine done. Last year I owed over $4400. I'm sure this year will be the same or worse.

    I have a small business income and my profits get taxed at 44% (Fed/State/NYC). Awesome!
     

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