NBR: tax day poll

jennlin · April 2014

how did you come out?

for consistent polling purposes..combined with your husband/fi/bf/so/chole.

ashleymarie512 · April 2014

We got about $400 back. My employer is only withholding about 5% so we didn't get nearly as much back as anticipated.

megs1409 · April 2014

WAY more than we've ever owed and that includes the new deduction for a child!!

#theregoesmybuiltinsavingsaccount
#notropicalvacationformethisyear

chelseyestelle · April 2014

$6700. We were both in school and we had a baby. Works for me.

jennlin · April 2014

we were shooting for zero, and h did a lot of changing in his withholding throughout the year. we ended up getting 700 something back.

jennlin · April 2014

baconface said:

SS- filed for an extension bc we are waiting for some weirdo forms from DH's old company (for equity). So not sure yet. We'll probably end up owing a small amount.

you can vote chole then

sleepy33 · April 2014

I picked Chole b/c I am the worst and just mailed our forms to the accountant yesterday. I have no idea what our status will be, but we still owe from last year so we won't see any of it even if there was a refund.

jennlin · April 2014

sleepy33 said:

I picked Chole b/c I am the worst and just mailed our forms to the accountant yesterday. I have no idea what our status will be, but we still owe from last year so we won't see any of it even if there was a refund.

are you sure you didn't pick chole bc you get paid with meowmix?

sweettooth87 · April 2014

8k. We could change our deductions so that we could make interest on that money instead of the govt, but we see it like an extra savings account.

mancila60 · April 2014

We got a big amount back considering we usually get back less than $1000. H is contract labor so my stuff has to cover his taxes. DS and all our medical bills helped to give us a big rebate.

PixiesDust · April 2014

We got about $3500 back which is average for us. I'm no expert but I never understand how people get nothing back or owe. You're either allocating too many allowances on your W-4 or you need an accountant to do your taxes (or you're super filthy rich).

BrittanyCupcakes · April 2014

PixiesDust said:
We got about $3500 back which is average for us. I'm no expert but I never understand how people get nothing back or owe. You're either allocating too many allowances on your W-4 or you need an accountant to do your taxes (or your super filthy rich).

Actually, if you follow the instructions on the w-4 correctly, you should break even, or come close. If you want a refund you need to adjust for that by taking less allowances.

PixiesDust · April 2014

BrittanyCupcakes said:

We got about $3500 back which is average for us. I'm no expert but I never understand how people get nothing back or owe. You're either allocating too many allowances on your W-4 or you need an accountant to do your taxes (or you're super filthy rich).
Actually, if you follow the instructions on the w-4 correctly, you should break even, or come close. If you want a refund you need to adjust for that by taking less allowances.

Right but most people have other deductions for which they are eligible (mortgage, student loans, babies, charity, etc), meaning even if they fill out their W-4 correctly, most will get something back.

tashad18 · April 2014

We are getting $9,045. Not sure how. DH needs to make some adjustments for this year, but we are going to pay off one of our cars and put the rest in savings.

ajjf1026 · April 2014

We got like $800 back. Not anywhere close to what we thought we were getting.

sleepy33 · April 2014

PixiesDust said:

We got about $3500 back which is average for us. I'm no expert but I never understand how people get nothing back or owe. You're either allocating too many allowances on your W-4 or you need an accountant to do your taxes (or you're super filthy rich).

We ended up owing last year because we cashed out a 401k. The previous year, we owed b/c my genius husband does not understand the concept of claiming zero exemptions and worked in a tip-based industry. #recipefordisaster #bringhomeyourW4andletmefillitout

sleepy33 · April 2014

jennlin said:

sleepy33 said:

I picked Chole b/c I am the worst and just mailed our forms to the accountant yesterday. I have no idea what our status will be, but we still owe from last year so we won't see any of it even if there was a refund.

are you sure you didn't pick chole bc you get paid with meowmix?

I am sure my boss would prefer to pay me in meowmix if he could possibly get away with it...

jennlin · April 2014

PixiesDust said:

BrittanyCupcakes said:

We got about $3500 back which is average for us. I'm no expert but I never understand how people get nothing back or owe. You're either allocating too many allowances on your W-4 or you need an accountant to do your taxes (or you're super filthy rich).
Actually, if you follow the instructions on the w-4 correctly, you should break even, or come close. If you want a refund you need to adjust for that by taking less allowances.

Right but most people have other deductions for which they are eligible (mortgage, student loans, babies, charity, etc), meaning even if they fill out their W-4 correctly, most will get something back.

-stuck in quote box

we take our deductions into account when we fill out our dependents/witholding so that we can come out even at the end of the year. for a short period in time, h claimed that he had 12 dependents (it doesn't matter how many you claim) just so we can get less taken out, so that we can keep even it out to zero.

Welshgirl12 · April 2014

After owing for the last four years we were relieved to finally get some back...it was enough for a nice down payment on our new Subaru :-)

kimbo1216 · April 2014

Between medical deductions, paying too much throughout the year, and me starting a new business with lots of deductions (and a loss since it's new), we got like 8k back.

Unfortunately, 3-4k went toward hospital bills we hadn't paid yet, $2500 to paying off our car, 800 for a much needed new dishwasher (<----1st world problems), it really didn't feel like 8k. lol

bkeane619 · April 2014

We got back $12k. We pay too much during the year.

muffyvonmuff · April 2014

We got $6500 and I was thinking we would get $8000. DH pays a lot throughout the year and we have a lot of deductions.

megs1409 · April 2014

PixiesDust said:
We got about $3500 back which is average for us. I'm no expert but I never understand how people get nothing back or owe. You're either allocating too many allowances on your W-4 or you need an accountant to do your taxes (or you're super filthy rich).

It is a function of income from investments (interest, dividends, cap gains) and if you're overall joint, combined income is a different tax bracket than one person individually.

I'm super conservative on our tax withholdings and we have an accountant do our taxes. Unfortunately, because we were in the middle of moving when we would normally have done tax planning, I was a bit caught off guard with owing as much as we did.

carawasa · April 2014

Between the both of us we got about 7500$. I didn't make that much last year and we are not married yet. Plus I bought a house, had a kid, and pay student loans. I'll probably get screwed next year though.

juliemay623 · April 2014

We owed way more than I care to admit... Damn you IRS!

Oh and I'm a tax accountant so I get to deal with this fun stuff year round and not just in April. Lucky me!

psychdoc12 · April 2014

We're getting back $9k. I'm guessing in all the turmoil in the months following the birth and multiple hospitalizations I was supposed to change some withholding and didn't do it. Oops.

Jalee85 · April 2014

We got $1400

vvg28 · April 2014

Farming + public jobs = huge ass refund (most of the time). Using our refund this year to put up fence down our retaining wall to keep DS safe and a fence in the backyard for our JRT.

Lee81 · April 2014

PixiesDust said:

BrittanyCupcakes said:

PixiesDust said:
We got about $3500 back which is average for us. I'm no expert but I never understand how people get nothing back or owe. You're either allocating too many allowances on your W-4 or you need an accountant to do your taxes (or you're super filthy rich).
Actually, if you follow the instructions on the w-4 correctly, you should break even, or come close. If you want a refund you need to adjust for that by taking less allowances.

Right but most people have other deductions for which they are eligible (mortgage, student loans, babies, charity, etc), meaning even if they fill out their W-4 correctly, most will get something back.

If the average married with one child, dual income family each filled out our w4's as married with 3 allowances, it would under withhold even if there are other deductions and no other income. If my income alone supporting 3 people would be a 15% bracket and his income alone supporting three people would be a 15% bracket, each of our employers would withhold 15% of each of our checks. But the combined income supporting 3 people could be more like a 20% bracket so we still owe an extra 5% each.

nbcarlson · April 2014

We got back about $6000. We didn't make a lot but with my schooling and having a kid we got a lot of deductions and my W-4 was all messed up. I just adjusted my W-4 to reflect having a child and my husband staying home so hopefully I'll come closer to breaking even next year.

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