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Thread: Did you stick it to the man or do you owe - Taxes 2010

  1. #1
    Cyburbian Richmond Jake's avatar
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    Did you stick it to the man or do you owe - Taxes 2010

    I completed our first run through TurboTax. At this point we're getting back $9.5K from Uncle Sam. However, this amount will go down when ZG calculates the amount of rental income she received from her late mother's house.

    And don't criticize us for the "free" loan to Uncle Sam. We happen to enjoy receiving a healthy refund.

    As always, no state income tax in Florida.

    Anyway, how you all doing this year?
    Annoyingly insensitive

  2. #2
    OH....IO Hink's avatar
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    We owe the state ~$200 and we are getting back ~1.4k from federal... I am not pleased with some of the changes of the State of Ohio Tax code... we got screwed...
    A common mistake people make when trying to design something completely foolproof is to underestimate the ingenuity of complete fools. -Douglas Adams

  3. #3
    Super Moderator kjel's avatar
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    The Feds owed me $1244.00 mostly on tax credits. I didn't get the child tax credit this year since RT turned 17 (they should change this). I already got the refund

    NJ owes me $112.00 on over payment since they've pretty much stripped any credits because they are broke.
    "He defended the cause of the poor and needy, and so all went well. Is that not what it means to know me?" Jeremiah 22:16

  4. #4
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    Getting 4k back.Not bad for being on unemplyment for all of 2010. After 20 years of paying in, don't judge me

  5. #5
    Cyburbian WSU MUP Student's avatar
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    Even factoring in that we had a baby last year and mortgage interest, we will be owing our dear uncle about $2k. We've already filed for an extension on the basis that my wife is busy auditing others so we will not be paying the gubmint until the very last moment possible in July. I consider that sticking it to him pretty good.
    "Where free unions and collective bargaining are forbidden, freedom is lost." - 1980 Republican presidential candidate Ronald Reagan

  6. #6
    Cyburbian DetroitPlanner's avatar
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    Quote Originally posted by WSU MUP Student View post
    Even factoring in that we had a baby last year and mortgage interest, we will be owing our dear uncle about $2k. We've already filed for an extension on the basis that my wife is busy auditing others so we will not be paying the gubmint until the very last moment possible in July. I consider that sticking it to him pretty good.
    Look on the bright side, at least you're not witholding too much. I can remember several years ago I would pay quite a bit at the end of the year, but I was working 2 jobs and was making crazy money off of my investments. I knew not to complain.

  7. #7
    Cyburbian WSU MUP Student's avatar
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    Quote Originally posted by DetroitPlanner View post
    Look on the bright side, at least you're not witholding too much. I can remember several years ago I would pay quite a bit at the end of the year, but I was working 2 jobs and was making crazy money off of my investments. I knew not to complain.

    That is very true. I know that we could probably sit down and adjust our withholdings and work it out so that it ends up about even at the end of the year but that's not worth the hour of work it would take us. I've got a lot of stuff to catch up on on my DVR!
    "Where free unions and collective bargaining are forbidden, freedom is lost." - 1980 Republican presidential candidate Ronald Reagan

  8. #8
    Cyburbian Linda_D's avatar
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    I'm getting back $1789 from the Feds, and I owe NYS $8.29. I'm not particularly anti-tax, but I do refuse to pay more than $2 for the privilege of doing/paying taxes, so no tax preparer/no TurboTax/no efiling. I mailed the federal return on Wednesday, but I'll wait a week or so to send out the state.

  9. #9
    Cyburbian stroskey's avatar
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    We are getting about $8 back from the state and about $200 from the feds. This includes the $1300 credit for a new air conditioning system. I am glad I bought that so we don't owe $1100!

    To be honest I'd rather pay in a lot than get a big refund. That would mean we're making a lot.
    I burned down the church to atone for my transgressions.

  10. #10
    Cyburbian dandy_warhol's avatar
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    Good chance I won't know what's going on for a few more months. FIL does our taxes along with the taxes for pretty much everyone else in the family including extended family.

    I typically end up about even. Not sure how the marriage thing will affect our taxes.

  11. #11
    Cyburbian otterpop's avatar
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    Did our taxes on Saturday (usually I wait until March but my wife is out of work for two weeks and we need the refund now). Getting about $1,000 from the feds and $250 from the state. A little less than last year.
    "I am very good at reading women, but I get into trouble for using the Braille method."

    ~ Otterpop ~

  12. #12
    Cyburbian TerraSapient's avatar
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    I am getting $7 more back from Hawaii than I owe the Feds, so I ended up breaking even.

  13. #13
    Cyburbian
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    I pay estimated taxes quarterly, and purposefully pay as little as possible on a quarterly basis to keep my money working for me as long as possible. My wife has hers withheld, but again, as little as possible.

    We should finish up with with filing in early April, and will pay electronically at the last second. I'd guess that we'll pay somewhere around $10k on filing day.

  14. #14
    Cyburbian ursus's avatar
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    Getting 3K back from teh Federal Govt., but I still owe the great State of Utah $608.00 at this point. Utah has a pretty heavy State Income tax (the way I understand it).
    "...I would never try to tick Hink off. He kinda intimidates me. He's quite butch, you know." - Maister

  15. #15
    Cyburbian Raf's avatar
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    Getting back 5K from the Feds and 1.2K from the state. Evidently, even uncle same this year thought i was a pretty poor family guy and granted me with EITC. I guess that can happen when your wife doesn't work and I don't work for 2 months. Heh, oh well.
    No Signature Required

  16. #16
    Cyburbian DetroitPlanner's avatar
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    Quote Originally posted by Linda_D View post
    I'm getting back $1789 from the Feds, and I owe NYS $8.29. I'm not particularly anti-tax, but I do refuse to pay more than $2 for the privilege of doing/paying taxes, so no tax preparer/no TurboTax/no efiling. I mailed the federal return on Wednesday, but I'll wait a week or so to send out the state.
    Try TaxAct. Federal is free to e-file. Since I pay City and State income taxes, its worth my while to pay the $16 and have them calculate those out as well. They spit out automatically, and each variable is balanced against the other. Well worth it in my opinion.

  17. #17
    Forums Administrator & Gallery Moderator NHPlanner's avatar
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    Quote Originally posted by DetroitPlanner View post
    Try TaxAct. Federal is free to e-file. Since I pay City and State income taxes, its worth my while to pay the $16 and have them calculate those out as well. They spit out automatically, and each variable is balanced against the other. Well worth it in my opinion.
    I've used TaxAct for the past 6 years...great program.

    As per usual, getting my interest free loan back (hopefully later this week) of around 4K.
    "Growth is inevitable and desirable, but destruction of community character is not. The question is not whether your part of the world is going to change. The question is how." -- Edward T. McMahon, The Conservation Fund

  18. #18
    Cyburbian Plus
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    Used TaxAct also.
    Fed return < 1k
    State return < 100.

    Keeping it simple.

  19. #19
    Cyburbian
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    Modest return this year, as opposed to large bill last year. Huzzah!

  20. #20
    Cyburbian Rygor's avatar
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    I tried the TaxACT thing. Worked well. I'm getting about $1,860 back from federal but had to pay about $175 to the state, so netted close to $1,700. I'll take it.
    "When life gives you lemons, just say 'No thanks'." - Henry Rollins

  21. #21
    Cyburbian ofos's avatar
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    Getting about $1800 back, not bad considering that I thought I might be paying.
    “Death comes when memories of the past exceed the vision for the future.”

  22. #22
    Cyburbian Plus
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    Refund is in the bank.

  23. #23
    2008 - got $58 back

    2009 - paid $350

    2010 - got $400 back

    Can't quite seem to make it zero $..................

  24. #24
    Cyburbian
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    Getting around $4k from feds and owe Calif $1800

  25. #25
    Unfrozen Caveman Planner mendelman's avatar
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    We'll net out a return of about $4,500 between the Feds, two States, and local income tax.

    This is mainly from having bought our first house last year, having three children and getting credits for efficiency devices (aka tankless water heater and new windows).
    I'm sorry. Is my bias showing?

    Every day is today. Yesterday is a myth and tomorrow an illusion.

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