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Re: Why are fewer people getting refunds?
[Re: Tbar]
#9035085
04/17/24 11:26 AM
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Joined: Dec 2013
Posts: 6,943
GasGuzzler
THF Trophy Hunter
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THF Trophy Hunter
Joined: Dec 2013
Posts: 6,943 |
My return was the same as the last several years. Single income for me and the family that lives here, two kids in college, two at home. I get back too much every year but there's nothing I can do about it since I am employed by someone else. I have no control over my witholdings because I can ask for MORE to be taken out but not less...according to HR.
Pass the gravy.
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Re: Why are fewer people getting refunds?
[Re: The Dude Abides]
#9035091
04/17/24 11:42 AM
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Joined: Sep 2009
Posts: 14,012
NDN98
THF Celebrity
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THF Celebrity
Joined: Sep 2009
Posts: 14,012 |
I don't want a refund. My wife (CPA) sets everything up where we owe ~ $400-500 every year. Uncle Sam is not getting a free loan from us. Same, I have had 1 year out of the last 10 where I got a refund and that was due to poor planning on my part.
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Re: Why are fewer people getting refunds?
[Re: Tbar]
#9035136
04/17/24 01:49 PM
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Joined: Nov 2006
Posts: 14,034
John2
THF Celebrity
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THF Celebrity
Joined: Nov 2006
Posts: 14,034 |
I see a lot of people complaining because they have to come up with x number of $$ to pay taxes every year.I guess that's why we have a little extra taken out every month so we don't have to worry about coming up with the funds to pay every year. I don't mind loaning my money to the gov,at least I know we will get it back or always have.Don't know what we will do with it this year,maybe tires for the SUV or just hold it in the bank for later.
Not all those that wander are lost..
Back The Men in Blue that wears a badge
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Re: Why are fewer people getting refunds?
[Re: Tbar]
#9035139
04/17/24 01:55 PM
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Joined: Nov 2012
Posts: 15,658
QuitShootinYoungBucks
THF Celebrity
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THF Celebrity
Joined: Nov 2012
Posts: 15,658 |
My wife and I make almost identical salaries, yet her withholding is somehow several thousand less than mine, despite identical W4 information. Difference in employer accountants, apparently?
https://web.archive.org/web/20170223065011/http:/www.rrdvegas.com/silencer-cleaning.html
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Re: Why are fewer people getting refunds?
[Re: GasGuzzler]
#9035142
04/17/24 01:59 PM
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Joined: Jan 2016
Posts: 73
carmackj1
Outdoorsman
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Outdoorsman
Joined: Jan 2016
Posts: 73 |
My return was the same as the last several years. Single income for me and the family that lives here, two kids in college, two at home. I get back too much every year but there's nothing I can do about it since I am employed by someone else. I have no control over my witholdings because I can ask for MORE to be taken out but not less...according to HR. Change your W-4. How many are you claiming on there? If you claim 0 alot is taken out and as you increase that it will take less out. I always claimed 0 until my daughter was born and changed it to 2. Less is taken out, but I still get a small refund each year. I am also a single income for family.
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Re: Why are fewer people getting refunds?
[Re: carmackj1]
#9035164
04/17/24 02:27 PM
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Joined: Jan 2009
Posts: 19,282
Judd
#1 Creedmoor Fan
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#1 Creedmoor Fan
Joined: Jan 2009
Posts: 19,282 |
My return was the same as the last several years. Single income for me and the family that lives here, two kids in college, two at home. I get back too much every year but there's nothing I can do about it since I am employed by someone else. I have no control over my witholdings because I can ask for MORE to be taken out but not less...according to HR. Change your W-4. How many are you claiming on there? If you claim 0 alot is taken out and as you increase that it will take less out. I always claimed 0 until my daughter was born and changed it to 2. Less is taken out, but I still get a small refund each year. I am also a single income for family. ^^^ That's exactly how you do it.
Don't let your ears hear what your eyes didn't see, and don't let your mouth say what your heart doesn't feel
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Re: Why are fewer people getting refunds?
[Re: Tbar]
#9035237
04/17/24 04:46 PM
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Joined: Jan 2009
Posts: 12,160
kry226
The General
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The General
Joined: Jan 2009
Posts: 12,160 |
I've always claimed exactly what we had, including myself when I was single. I've never owed taxes at the end of the year.
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Re: Why are fewer people getting refunds?
[Re: carmackj1]
#9035538
04/18/24 11:51 AM
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Joined: Dec 2013
Posts: 6,943
GasGuzzler
THF Trophy Hunter
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THF Trophy Hunter
Joined: Dec 2013
Posts: 6,943 |
My return was the same as the last several years. Single income for me and the family that lives here, two kids in college, two at home. I get back too much every year but there's nothing I can do about it since I am employed by someone else. I have no control over my witholdings because I can ask for MORE to be taken out but not less...according to HR. Change your W-4. How many are you claiming on there? If you claim 0 alot is taken out and as you increase that it will take less out. I always claimed 0 until my daughter was born and changed it to 2. Less is taken out, but I still get a small refund each year. I am also a single income for family. Unsure. I have had the same job since the day before 911. Guess I could ask but the last time I asked I was told they were taking out the least. One year I got back about 25% of my gross earnings due to a mistake on a previous year caught by my CPA combined with a giant break during one of Trump's years.
Pass the gravy.
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Re: Why are fewer people getting refunds?
[Re: Tbar]
#9035556
04/18/24 12:39 PM
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Joined: Oct 2009
Posts: 12,228
wp75169
THF Celebrity
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THF Celebrity
Joined: Oct 2009
Posts: 12,228 |
Is this the backlash of all the covid money? Was that money taxable?
Last edited by wp75169; 04/18/24 12:50 PM.
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Re: Why are fewer people getting refunds?
[Re: wp75169]
#9035562
04/18/24 12:48 PM
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Joined: Apr 2009
Posts: 10,121
texasag93
THF Celebrity
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THF Celebrity
Joined: Apr 2009
Posts: 10,121 |
Is the the backlash of all the covid money? Was that money taxable? I am guessing that property taxes deduction maxing out and not getting the full deduction from them is part of it. I have 3 employees asking to change their W4s. I have never had that happen. Due to inflation, we are paying over 2x what we have traditionally paid employees in both additional people (they do not work as hard) and hourly rate.
Last edited by texasag93; 04/18/24 12:50 PM.
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Re: Why are fewer people getting refunds?
[Re: GasGuzzler]
#9035567
04/18/24 12:52 PM
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Joined: Nov 2006
Posts: 1,373
jsteve
Pro Tracker
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Pro Tracker
Joined: Nov 2006
Posts: 1,373 |
My return was the same as the last several years. Single income for me and the family that lives here, two kids in college, two at home. I get back too much every year but there's nothing I can do about it since I am employed by someone else. I have no control over my witholdings because I can ask for MORE to be taken out but not less...according to HR. Change your W-4. How many are you claiming on there? If you claim 0 alot is taken out and as you increase that it will take less out. I always claimed 0 until my daughter was born and changed it to 2. Less is taken out, but I still get a small refund each year. I am also a single income for family. Unsure. I have had the same job since the day before 911. Guess I could ask but the last time I asked I was told they were taking out the least. One year I got back about 25% of my gross earnings due to a mistake on a previous year caught by my CPA combined with a giant break during one of Trump's years. Don't ask. Tell them to show you and look at it carefully. Then tell them you want to fill out another W-4.
Last edited by jsteve; 04/18/24 12:54 PM.
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