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Has anyone who has not made any changes noticed your taxes lower? As in Half of last years?
It will be a few more weeks before I have mine done but a few people at work said they were told it would be half of what we got back last year and they used an online estimator and it came up with an amount that was half of last years total.
If so what changed? We are talking about 2012 tax year and I didn't hear about any changes verse 2011 tax year. Just curious if anyone can confirm this.
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Legend
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No. My effective federal tax rate both last year and this year was around 12.5%.
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I didn't think so, but these guys were telling everyone their taxes were half from last year and they made the same amount and changed nothing. They must have a bad tax guy or something then.
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Legend
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Their taxes were half or their refund was half?
Were their withholdings the same?
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Quote:
Their taxes were half or their refund was half?
Were their withholdings the same?
Sorry Refund was half, they claim everything was the same as last year.
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I should note they were told by the person that does their taxes told them it would be half, they then went to an online estimator where you take last years final pay stub, add in some information and the estimator gave them an amount that was half of what they got back last year.
Again they claimed nothing changed and they made a little more than last year but not much.
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The simple logic in that statment makes no sense. I try to withhold as little as possible so that I can get back as close to 0 as possible. So that would mean if I had $100 refund last year, this year it would be $50, but someone that got back $2000 last year only gets $1000. nice...
#gmstrong
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I'm going from owing $700 last year to getting a refund of about $2000, with very minimal changes besides a new baby. Year before last year we got about $2000 as well. I'm still trying to figure out how we owed $700 last year. *shrugs*
![[Linked Image from i.imgur.com]](http://i.imgur.com/FUKyw.png) "Don't be burdened by regrets or make your failures an obsession or become embittered or possessed by ruined hopes"
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I'm getting about $2000 back in federal. We had another baby this past year and didn't change my withholdings. I got back abotu $350 last year. As of now, it looks like I owe the state about $500, though I should owe them nothing... have to work on this. I moved out of the country at the end of march. From the way turbotax is doing it, I put in my whole year's income and then get credit for the income in Ohio. I should only have to put in income earned in ohio it would seem.
#gmstrong
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What's a refund  I have not seen one of those in the last 25 years.
I AM ALWAYS RIGHT... except when I am wrong.
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Quote:
What's a refund I have not seen one of those in the last 25 years.
You gotta pay your taxes first. 
#gmstrong
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Quote:
Quote:
What's a refund I have not seen one of those in the last 25 years.
You gotta pay your taxes first.
Why? There are tons of people who pay zero federal income taxes, yet get huge refunds anyway.
Micah 6:8; He has shown you, O mortal, what is good. And what does the Lord require of you? To act justly and to love mercy, and to walk humbly with your God.
John 14:19 Jesus said: Because I live, you also will live.
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Thanks for starting this thread, it motivated me to finally do them.
I actually got back $75 more than last year.
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Quote:
Quote:
What's a refund I have not seen one of those in the last 25 years.
You gotta pay your taxes first.
You have to pay them 37 times a year. 36 times out of my paychecks then another large lump sum in April. 
I AM ALWAYS RIGHT... except when I am wrong.
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Legend
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Legend
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You get 36 paychecks a year?
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Quote:
You get 36 paychecks a year?
Apparently he gets paid every 10 days. 
#gmstrong
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Our refund was $1300 more than last year but we both gave a little extra throughout the year. I hear both sides of getting a big refund and getting money on each paycheck, but we prefer the refund.
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Quote:
You get 36 paychecks a year?
When I sold cars, we got paid a draw check once every 2 weeks, and a "wash" check once a month (on the 5th of each month) that paid us the balance of our commissions and bonuses. That would be 26 draw checks with 12 wash checks per year.
I would assume that GM is on some similar pay track.
Micah 6:8; He has shown you, O mortal, what is good. And what does the Lord require of you? To act justly and to love mercy, and to walk humbly with your God.
John 14:19 Jesus said: Because I live, you also will live.
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Legend
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Legend
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Draw checks twice a month and wash on the 15th 
I AM ALWAYS RIGHT... except when I am wrong.
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Quote:
I should note they were told by the person that does their taxes told them it would be half, they then went to an online estimator where you take last years final pay stub, add in some information and the estimator gave them an amount that was half of what they got back last year.
Again they claimed nothing changed and they made a little more than last year but not much.
If their taxes are easy enough to do an online estimator, why don't they just do them online themselves anyway?
We don't have to agree with each other, to respect each others opinion.
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Forums DawgTalk Everything Else... Taxes - Refund lower this year?
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