tax refund calulator

[Sara Badger]

Anyone use one? Are they pretty right on? I use turbo tax free tax return and the have the estimater(?) up. We did pay in a bunch this year but earn less than 40,000 and it says we are getting back a lot!

[Satori]

Originally Posted by Sara Badger

Anyone use one? Are they pretty right on? I use turbo tax free tax return and the have the estimater(?) up. We did pay in a bunch this year but earn less than 40,000 and it says we are getting back a lot!

Its never been accurate for me, always says way more then I do get. It always assumes I'll qualify for the child tax credit but I never do.

[pollyanna]

I use turbo tax every year so I just keep it on my computer and enter my info during the year and see what it says.

Pollyanna

[Carson]

I just did the one on HR Block and the amount matched my expectations.

I keep really meticulous records and track our taxes/payments throughout the year so it was nice to see some confirmation. I'm guessing the outputs are only as accurate as the inputs you put in there.

And can I just say if this baby comes by his due date (Dec 29). No pressure baby, but mommy would really like an extra $1300.

[TiredX2]

Originally Posted by Sara Badger

Anyone use one? Are they pretty right on? I use turbo tax free tax return and the have the estimater(?) up. We did pay in a bunch this year but earn less than 40,000 and it says we are getting back a lot!

I'm not sure if the tax estimator is correct, but if you have (a) child(ren) and make less than $40K AND you've paid a lot in, YES you should be getting back a lot. For 2009 you are eligible for the EIC if you have a AIG of less than $40K and two children (married filing jointly). You should really consider getting less tax withheld if you are getting a large refund so you have that money throughout the year (you could even file exempt at this point for the rest of the year if the numbers work)

[Sara Badger]

we've only paid 300 for the year ,and 900 for state. We do have 3 kids. Dh is just so worried that we will owe.

[Mama2CarolineLydia]

Originally Posted by Sara Badger

we've only paid 300 for the year ,and 900 for state. We do have 3 kids. Dh is just so worried that we will owe.

You should probably get back several thousand $$ with this information, depending on a few variables, it could be as much as $7,000. We have 3 children, gross about $32,000 this year, have a mortgage, high medical expenses in January from birth at the end of 2008/private health insurance for 1/2 the year, work expenses to write off and significant charitable deductions. We paid in $0, but estimated nearly $6500 back (we will have received about $500 in Advance EITC throughout the year, so it would have been closer to $7000).