posted
I have not gotten my W-2 form yet, but I need to do my taxes so I can get the refund. Can I use my latest check stub or do I just have to wait?
Posts: 9942 | Registered: Mar 2003
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posted
I think you need to use the last check you got in the year 2004. And while I know you can use it for calculations, I think you still may need the actual W-2 for submission, but maybe not if you e-file.
posted
You don't need the w-2 if you efile, like Banna said, but you do need to know your employer number and all that jazz.
Posts: 6367 | Registered: Aug 2003
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posted
EXCELLENT. As I am E-filing and telefiling... Tax refunds are one of the best things about having a job.
Posts: 9942 | Registered: Mar 2003
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posted
If you do your taxes correctly, you get no refund at all. And that's even better, if you're responsible with money. Our refund this year should be about $30, if I've estimated correctly. (Note: I'm not sure, since there are so many variables here -- including Christy's time off work and the birth of our beautiful little deduction. But I tried to take all that into account as best I could.)
posted
Very true. That's why you should impregnate someone and get married immediately. I highly recommend it.
Posts: 37449 | Registered: May 1999
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posted
Actually, as a single guy with no kids, I had no problem limiting my return to a couple hundred dollars (or the occassional tax debt of a hundred bucks)... You can put down however many deductions that you want, it's not binding until you file your tax return each year.
posted
You know for as much as Tom and I disagree on politics, we agree on so many other things.
I hate hearing people talk about their huge refund. That is your money the Gov. has been using interest free for the whole year. The perfect return is where you owe $1. People who make $25,000 a year and get $1,000 refunds are just plain stupid. You should know with in $100 what your taxes are going to be, baring major changes, such as a bouncing baby deduction or a house.
posted
It's actually better to end up owing money. If you plan that way and put money into the bank with that in mind, you've been making some interest.
Posts: 4625 | Registered: Jul 2002
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posted
I think I might get a good amount this year, bigger than last year, with EIC too... so that is good...
Posts: 9942 | Registered: Mar 2003
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posted
Synth, seriously, if you'd like, I can answer any financial questions you might have. I'm not a professional financial advisor, of course, so I'll step aside if anyone more qualified makes an offer, but I think you could probably be using your money more efficiently than you currently are, especially at your age.
Posts: 37449 | Registered: May 1999
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posted
I think I could The problem is I don't really get that much money in the first place, so I just try to get the most out of every check I get. Also to make matters worse... I want to have fun. I want to go to a movie sometimes, go to a concert every once in a while but these paychecks are microscopic. At least I have cheap rent. I want a better job DESPARATELY.
Posts: 9942 | Registered: Mar 2003
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posted
I'm not talking about spending less frivolously. I'm talking about using the money you don't spend.
Posts: 37449 | Registered: May 1999
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posted
Synth, please wait for your W-2 before filing. At most it will be a week or so. Big companies rarely miss this deadline, although of course oversights happen.
If you have to file an amended return, it will be a pain, especially if you have to return some money.
Posts: 26071 | Registered: Oct 2003
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posted
Dang it. At least I didn't submit yet, but I wish they had sent it a week or so ago... It's so annoying to have to wait and I need that refund by March.
Posts: 9942 | Registered: Mar 2003
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Boon
unregistered
posted
If you efile and have it direct deposited, it should take less than 2 weeks.
What Tom is trying to say, I think, is that if you are gettting a big refund, as compared to your income, then you should probably be adjusting your witholding so that you would have more in your weekly check. If you get A $200 refund that would mean $4 a week more in your check.
posted
Grin, it's interesting when you live with someone of a slightly conflicting financial philosophy.
Steve likes having larger tax returns and views the small amount of interest the government makes on it as payment for an enforced savings plan. Which is a legitimate, logical way to look at it. The amount of interest made would probably be, at most, like $20. He claims either 0 or 1 personal exemptions.
I claim 2 personal exemptions, because I buy into Tom's philosophopy. At most, I'll owe $100, which I can live with.
I get paid bi-weekly however while Steve get's paid 2x a month. This means I get 2 "free" paychecks a year. Steve doesn't have that, and the tax return is his way of getting a similar deal. And I can understand that.
If you look at us as a household with joined finances, even though we aren't married and file separate, I think it ends up balancing out, and we don't really lose much in interest to the government in the process. If intrest rates took a huge hike I'd probably re-evaluate and try to sway Steve to my personal preferences but they aren't there right now to justify it. (Note: I'd personally never put money that was designated to pay income taxes into stocks.. just too risky for me though I know people do it sucessfully.)
If you are in a low income bracket you should always claim at least 2 personal exemptions and you will likely still get a refund. I never bothered claiming more when I was in that bracket, because I wanted to error on the size of caution.
posted
I could be on the cover of Sheer Stupidity magazine. I jus did something tax wise that was so abysmally dumb...
Posts: 9942 | Registered: Mar 2003
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P.S. (I've got to wait until I can get back to my place of summer and winter break employment sometime soon to pick up my last paycheck of the year and my W-2 form. Unfortunately, they can't mail it to me (40 miles away at school).
Posts: 1592 | Registered: Jan 2001
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I get SSDI and my son gets SSI. He gets it because I get SSDI, however, the 1099 uses his social security number. He's now 14. How do I report this money. Do I put in on my tax return? Does he have to fill out a tax return? I'm so confused.
(Also, I like getting back a thousand or two. I consider it my own little savings plan. If my husband got $4 extra dollars a week, he'd spend it. This way, we have money to buy a car, or remodel a room or something. Yes, I could be making 1% in interest, but that's only assuming I could actually get my husband to put it in the bank. )
Posts: 9871 | Registered: Aug 2001
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posted
I filed my federal taxes two times two different ways. Who Does things like this? I hope I don't get audited and that I get my much needed money. Posts: 9942 | Registered: Mar 2003
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posted
Egad! I failed to take property tax deductions into account on my state withholding, so I'm getting back around $1100 this year. *shudder*
Posts: 37449 | Registered: May 1999
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posted
"I hope I don't get audited and that I get my much needed money."
You will not be audited. However, the IRS will notice that you filed twice and will attempt to contact you. If you e-filed on one of the returns, and it winds up being the return that's less accurate, the IRS may have to charge you.
Posts: 37449 | Registered: May 1999
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posted
"He gets it because I get SSDI, however, the 1099 uses his social security number. He's now 14. How do I report this money. Do I put in on my tax return?"
I believe that if any dependent makes between $800 and $8000, you can report their income on your return using a form I can't recall at the moment. If they make more than $8000, I think they have to file their own return. But Boon would know better than I.
Posts: 37449 | Registered: May 1999
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quote: Egad! I failed to take property tax deductions into account on my state withholding, so I'm getting back around $1100 this year. *shudder*
Tom, this is why my wife and I have actually filed as "single" on our W-2s, because we would usually owe a significant amount, and the only substantial refund we get is from propery tax deductions.
(Which are more than $100)
This is why I will never fall into your criteria!
Posts: 1870 | Registered: Mar 2003
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