2002 Tax Refunds?
Just did mine through E-file. Fairly straightforward process. Just don't start a session, pause to go eat a snack or a walk or something, then come back and keep filling stuff in. You'll just have to login with a fresh session and have to type that page over again. Everything prior to that is saved, though.
Also of note, I noticed CA state tax filers get to apply for "rental credits". It's not a lot, but it's about damn time apt renters get some acknowledgment! Renting out here in CA is a real poker in the butt.
Anyway, my real question is did anybody get back a bigger than usual refund this year? I'm just wondering if something different is up this year, or did my boat finally come in for the horrid, horrid fiscal year that I experienced in 2002 (continuing on to a horrid, horrid 2003, as well
).
If you haven't filed yet, please feel free to come back here and post in if you found any surprises.
[ 03-10-2003: Message edited by: Randycat99 ]</p>
Also of note, I noticed CA state tax filers get to apply for "rental credits". It's not a lot, but it's about damn time apt renters get some acknowledgment! Renting out here in CA is a real poker in the butt.
Anyway, my real question is did anybody get back a bigger than usual refund this year? I'm just wondering if something different is up this year, or did my boat finally come in for the horrid, horrid fiscal year that I experienced in 2002 (continuing on to a horrid, horrid 2003, as well
). If you haven't filed yet, please feel free to come back here and post in if you found any surprises.
[ 03-10-2003: Message edited by: Randycat99 ]</p>
Comments
Other than that...eh.
[ 03-11-2003: Message edited by: Randycat99 ]</p>
Considering that the tax cuts increased the budget deficit enormously which thereby increases the debt and the annual interest payments on the debt you can rest easy knowing that that money will get involuntarily donated back eventually. Probably at the point at which all of the baby boomers come to realize that we already spent their social security money on other stuff and they decide to vote in only politicians who are willing to assrape anyone younger than them so that they can get their bling bling on at the bingo hall.
You let me know when you start paying back those socialist style education grants you took and I'll give back my tax cut.
<strong>Man, that would be a drag (to owe every time). I've always been able to sneak by with like a $100 refund at least. Are you claiming anything weird for witholdings when you fill out that form with your employer?
[ 03-11-2003: Message edited by: Randycat99 ]</strong><hr></blockquote>
just been the last two or three times. not sure what the deal is. i claim the most you can without withholding more money at the married rate. i have since begun filing at a higher single rate, plus holding out a small bit in addition. i'm not going to get popped like that again if i can help it. $2500 is going to be a wee painfull. someone pass the KY please.
<strong>I'm getting $2900 back. weeeeeeeeeee
i hate you.
<strong>I'm getting $2900 back. weeeeeeeeeee
[quote]Originally posted by Randycat99:
<strong>Anyway, my real question is did anybody get back a bigger than usual refund this year? I'm just wondering if something different is up this year, or did my boat finally come in for the horrid, horrid fiscal year that I experienced in 2002 (continuing on to a horrid, horrid 2003, as well
<strong>
just been the last two or three times. not sure what the deal is. i claim the most you can without withholding more money at the married rate. i have since begun filing at a higher single rate, plus holding out a small bit in addition. i'm not going to get popped like that again if i can help it. $2500 is going to be a wee painfull. someone pass the KY please.</strong><hr></blockquote>
I thought that by claiming "more" you are having less money withheld, and thus there is less paid-in to cover you come tax time (unless you are genuinely married with x number of children). Maybe I misunderstand you? I just claim "one", get a considerable amount cut from each paycheck, and come tax time I have been "covered" with a little extra to spare as a refund.
<strong>
I thought that by claiming "more" you are having less money withheld, and thus there is less paid-in to cover you come tax time (unless you are genuinely married with x number of children). Maybe I misunderstand you? I just claim "one", get a considerable amount cut from each paycheck, and come tax time I have been "covered" with a little extra to spare as a refund.</strong><hr></blockquote>
it's confusing, i know. more in terms of money taken out. i claim zero on my tax form thingy.
<strong>If you're paying $2500, you're probably paying penalties too, right? Just have more withheld, $150 a month or whatever.</strong><hr></blockquote>
what penalties? i'm even throwing in close to $700 worth of deductions. i've since switched to filing at a higher single rate which takes out quite a bit more each paycheck. i should have done that sooner.
Since it isn't April 15th yet, I can't provide any actual figures.
<strong>what penalties?</strong><hr></blockquote>There are penalties for not having enough withheld. I forget the formula, but if you don't have some percentage of the total taxes you pay withheld, you are penalized for it. Some people must pay quarterly to avoid that. And I think it also depends on what you paid the previous year - if it was a big change since the previous year, it's not as bad.
But the point is you can't just pay a huge sum at one time - they want most of it up front.