got my taxes done in about 3 hours last night, and we donated our whopping $12 MI refund to the American Red Cross. We owed $600 to fed. not bad, since we both got pay raises in CY22, and our taxable went up by $10k.
got my taxes done in about 3 hours last night, and we donated our whopping $12 MI refund to the American Red Cross. We owed $600 to fed. not bad, since we both got pay raises in CY22, and our taxable went up by $10k.
The return is the form you file. The payback of the interest free loan you gave the government is your refund.
I didn't enter something correctly from the spouse's W2 and nearly gave myself a panic attack when it said we owed nearly $10k to the Feds. Went back and fixed it. Only $1k for the feds. It did desensitize me to that much smaller number at least.
Did mine about 10 days ago, got a return already! Our local library has CPAs there every Friday to look at your stuff. He stuttered a bit when I whipped out the forms filled out in pencil, "People don't do that". Old. Then he filed it electronically.
Streetwiseguy said:The return is the form you file. The payback of the interest free loan you gave the government is your refund.
This. THIS.
One thousand times, this.
Pete. (l33t FS) said:In reply to ProDarwin :
It is easy to make a simple tax code deceptively regressive, but barring that you have my vote.
But roundabouts are a pain in areas that don't really justify them. Like intersections that see one or two cars per minute when it's busy. Along several places what used to be arrow straight 55mph 2-lane with no stop signs now has a roundabout every few miles. The annoying kind with the Scandinavian flick before the entrance instead of just having a yield sign.
yes. Im not arguing exactly what that line would be. It would be a simple math equation, and I would leave it to congress/citizens/etc. to somehow determine what the y intercept, constants, and coefficients would be. It could accommodate everything from no tax, flat tax, highly wealthy-weighted tax, linear tax increase, etc.
edit: roundabout discussion saved for another time/thread
I owe about seven grand to Uncle Sam. The last 3-4 years I have owed between 2-8k. Actually got a fine this year for failure to pay my taxes quarterly. I'm have no idea how to do that. I just direct deposit my paycheck and the business withholds.
I suspect my wife or I have our dependency withholdings set incorrectly...
When I saw April 18th I thought of this:
Paul Revere’s Ride
Henry Wadsworth Longfellow - 1807-1882
Listen, my children, and you shall hear
Of the midnight ride of Paul Revere,
On the eighteenth of April, in Seventy-Five:
Hardly a man is now alive
Who remembers that famous day and year.
In reply to OHSCrifle :
We usually set our withholding to zero deductions and have them withhold at the single-payer rate (higher), even though we are married and file jointly.
We also usually end up still owing somewhere between $1500-$3500.
It just makes no sense at all, but at least we don't owe penalties or have to pay quarterly.
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