What's your tax refund look like? (US Mamas) - Page 3

[Logan's Mom]

Refund - none --- we owed

[mumm]

Over 11K, which is too much. I've adjusted dp's withholdings so that the money shows up in the monthly paycheck, rather than a chunk in April. I hope next year to be getting close to nothing.

We just found out that within 4-6 years dp's pay will drop by 80% for one year, then by 60% for another year and then go back to where it is now for the 3rd year, and then continue to increase. I need to have at least $120K in savings for us to live off of during those two years, so this will have to start that savings. Good news/bad news sort of thing.

[MommyChani]

n

BH

We're under the 45K bracket and are getting about 1k back, that amount has to go to pay the state taxes so we're basically getting zilch and a fifth of the amount we got last year. I'm quite upset.

[nola79]

nada. zero. zilch. We had to pay about 2500.

[Usually Curious]

Ours sucked, too.

[Happiestever]

I never realized people got so much money back. 7k? Holy cow!

ETA: 11k woah

[Smithie]

Through mechanisms beyond my understanding, about 10k combined in state and federal. We got the EIC for the first time and had a baby. I'll be darned if I think we deserve all this money back, but as it will pay off the mortgage on the house we can't sell, I am not complaining. It will be awesome to have that off my mind.

[velochic]

I know some people get upset about getting smaller refunds, but it's good to remember... your tax liability is your tax liability. Because you are getting less (or paying) doesn't mean that you're paying more in taxes. It just means that the government didn't have free use of as much of your hard-earned money. In fact, if you owe, it means you got to use some of the government's money for free over the course of a year.

I just think that sometimes when people get smaller refunds they think, "I'm getting cheated out of money that belongs to me." That's not the case... you need to pay whatever that amount is, no matter what.

Personally, I would rather the government not get to keep any of my money throughout the year.

[mumm]

Originally Posted by velochic

I know some people get upset about getting smaller refunds, but it's good to remember... your tax liability is your tax liability. Because you are getting less (or paying) doesn't mean that you're paying more in taxes. It just means that the government didn't have free use of as much of your hard-earned money. In fact, if you owe, it means you got to use some of the government's money for free over the course of a year.

I just think that sometimes when people get smaller refunds they think, "I'm getting cheated out of money that belongs to me." That's not the case... you need to pay whatever that amount is, no matter what.

Personally, I would rather the government not get to keep any of my money throughout the year.

Well said. I see my 11K refund and think, "cripes, I should have fixed this long ago."