Out Of Curiosity....

[newtodaycare22]

Aren't taxes crazy...the responses are so varied about refunds/payments owed!

I asked this question because Turbo Tax is showing me a 8400 refund, which I'm ECSTATIC about. I'd be worried that I did something wrong but it seems right because....

1. I had a regular job half the year and paid taxes.
2. DH pays taxes all year (no kids).
3. We bought an Expedition for 7300 dollars (90% business use)
4.I spent 6400 on college tuition.
5. Start up costs (it's my first half year doing daycare)

I know I won't be this lucky next year...sorry to all of you who have to pay!

[cillybean83]

i used turbo tax too and got a 7850 refund, if you checked, checked, and double checked, then triple checked, you should be fine

I bought the extra audit protection though, just in case!

[ninosqueridos]

We owe a few thousand...but at least I'm a planner and put money away for it.

[Unregistered]

I got 7,000 b ack my first year, but now that Im in my 5th year I get bak around 1000.00 or so.
Debbie

[TomCopeland]

Refunds

A general comment -
Comparing refunds is not useful because everyone's situation is different. If you got a $7,000 refund and I got a $25 refund that doesn't mean that you are better off than I. Maybe I saved money throughout the year that earned interest. Maybe you owe $10,000 on your car and I've paid off my car. And so on.

What matters is how well you are living and how well you are meeting your financial goals (savings, emergencies, retirement, college, etc.).



Join me for my webinar on February 28th "How to Reduce Your Taxes for 2010 and 2011". I guarantee that you will save more in taxes than the cost of the webinar ($25). For more info: https://www.daycare.com/news/taxes/t...d-webinar.html

[safechner]

I would guess we should get around $2300 this year but I am waiting for 2010 form 8829 from Turbo Tax. Normally, we got more than $2000 since 2004. My husband claims 4 and two kids. My husband used to have claim 0 in 2003 that we only got more than $7000 with two kids. In 2002, we got $6000 with one kid.

[Jewels]

This year we are getting $800 back, I got my income down to $8300, husband was claiming 2, and we have 2 children, this year he switched to claiming 0.

[Cat Herder]

We are getting $1850 this year, federal and state combined....this is the lowest ever, but we switched stuff around last year so we had more in our pocket during the year.

My tax vent, since I enjoyed the other pp's.... I have had two sets of parents in 5 years "divorce" (paper only) so they would not have to pay in to taxes (exempt) and STILL get refunds, free college, child care assistance and housing assistance.... How is this possible?

I am taxed extra and ineligible for college tuition assistance for being married, creating my own employment while providing a needed service and paying my bills on time?? Really? Grrr..

Tom. I do intend on attending your seminar...

[DCMom]

I don't worry about getting a refund ~ I just hope that my quarterly payments cover what they need to, give or take a few $100.