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s/o tax refunds - Page 5

post #81 of 87
Quote:
Originally Posted by milletpuff View Post
Re: the stimulus affecting your refund this year, here's my guess. It does not affect this years taxes. It did not affect last years taxes. If you didn't qualify for the whole amount last year, or you missed the deadline, of you didn't get it for some other reason, you can get it this year instead.

When you are initially entering your info in a tax estimator, if you don't tell it that you already received your stimulus, the calculator says "oh, well, you can have it now" and adds it. If you then later put in that you *did* receive it, it takes it back out.

Just my guess...
I agree : I've put it in all of the calculators and they all say the same, nothing is removed from our refund. It is actually MORE than I expected and nothing changed for for the past year from the year before.
post #82 of 87
Quote:
Originally Posted by BJewels79 View Post
I agree : I've put it in all of the calculators and they all say the same, nothing is removed from our refund. It is actually MORE than I expected and nothing changed for for the past year from the year before.
thank you! (and Milletpuff)

that makes sense! I feel better now.
post #83 of 87
Part of the refund, which we always get because DH's 'bonus' is taxed at like 50% YIKES and most of his pay is bonus, is listed below.

We are going to buy "shade" for the backyard. In AZ you need shade. We are going to get those professional tarps like they have at playgrounds and pools and daycares put in. Otherwise it is just too hot back there and we loose many months of outside time.

We are researching 'fake' grass for the backyard. Probably going to do this as well. The savings from not having to water/maintain the dead grass will pay for itself in a year.

We may set up a 'computer' lab for the kids. Kinda like the Duggars (TLC family) have but not exactly. That way we have a better grasp of the technology area and things are better contained.

The rest is being sent to the brokerage accounts for retirement accounts, college accounts, savings accounts etc.

I have all the docs needed to file. Just deciding if i want to be one of the first to file on 1/16 or wait for my traditional filing date of 2/1.
post #84 of 87
no refund coming here at all, we may end up owing a bit.
post #85 of 87
Yeah DH and I got to talking about that last night and decided it was probably the program assumes $0 from the beginning. However that being said our refund was still considerably lower than last year.
post #86 of 87
We usually only end up with about $3 from the state So we usually just click the box to donate it to whatever cause they are supporting that year.

For federal, I am just shocked at how much some of you all are getting back! Wow! We don't get much, maybe $1000 back. Maybe not even that much, and we are both working. But we put it towards a credit card usually.
post #87 of 87
We both claimed 0, but I assume we'll owe as usual. Not even going to bother looking at it until April 14th ish.
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