April 2008 Weddings
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Even after getting married and owning a house taxes suck! Boo!!!
We dont owe thank goodness, but they still suck and I feel bad for any1 who does owe... it just seems unfair thats all.
/end rant
Re: Taxes are yucky.
http://www.irs.gov/individuals/article/0,,id=96196,00.html?portlet=4
This calculator can help you figure out what you should be withholding so that you don't over or under withhold during the year (and thus end up with a large refund or owing a lot). It's not perfect, but it's better than guessing!
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Taxes are yucky. We ended up owing. Nothing huge, but still sucks to not get anything back. If we hadn't bought both brand new motorcycles, we would have owed more. The rebates on some of that tax helped.
I guess I can't complain though. We don't have to take out a loan to pay it, and last year we did get that $8k from the house and paid off my truck and put a good DP on DH's motorcycle (which has saved a TON of gas!)
I feel a little guilty...DH did the taxes this year, all I did was punch in my freelancing income :P
I got off easy!
I've never been in danger of owing. Even last year, when we did our taxes jointly for the first time without a house. I don't understand this stuff to well though. I don't understand how you can go from getting a nice refund one year to owing the next when you don't change anything from one year to the next.
I can't complain...we're getting a refund, but we planned for it. We did the "requested" withholdings from our CPA, and I love getting that refund check in March/April. We also got the first-time homebuyer credit last year, and this year we got the energy credits.
My only complaint is about the first-time homebuyer credit - we start paying it back next year. We missed the revised tax credit by 40 days from the purchase of our house...when you don't pay back the $8k credit. I'm also hearing that registration for cars are going up as well for everyone.
I've got to do ours this week sometime...I don't know why I've been putting it off.
We still claim single with no deductions, so we usually get a refund. I hope we get a good amount this year, because I've already spent it.
we're in the same boat.. we got the $7500 homebuyer credit we have to pay back! So not cool!
I'm in high "hopes" that he'll revise this law.