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I want to know the secret. (about taxes)

Posted by on Jan. 25, 2009 at 12:29 PM
  • 24 Replies

Over the years, I have heard of people getting thousands of dollars back from taxes.  And they either make less than we do or about the same.  How?  No one can tell me.  They just say that we should be getting back more than we do.  At the most, we recieved about $400.  And for the last two years we have owed the irs.

I usually do our taxes, but one year we decided to go to H&R Block to see if there was a difference.  Nope!  I did them at home too and came up with the same figure.   So what gives?  It is really starting to bug me.  LOL  

Whats the secret?????????

confused

by on Jan. 25, 2009 at 12:29 PM
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Replies (1-10):
Foxynanna
by on Jan. 25, 2009 at 12:32 PM

bump

I don't have the answers, so I will give you a bump. I would love to know the answer too.

Best wishes and have a wonderful day.

 

Foxynanna  Angels and fairies

JenniferOmaha
by on Jan. 25, 2009 at 12:32 PM

Ever since I had my daughter I have been getting back quite a bit. I also bring my daughter to daycare. That does give me about $800 extra dollars. 

Do you guys own a house? Do you own a business? Only one of you work?  There are many factors in you not getting a huge refund.

tes1proudmomma
by on Jan. 25, 2009 at 12:33 PM

Do you have your pay checks set up where they don't take as much taxes out during a pay day? If you do that could be one of the reasons it means a smaller return..The other thing is they may have more children than you do...each child adds on more...Also, if you don't work and they work and pay child care they would be adding that into the equation as well.

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Tiffatoe
by on Jan. 25, 2009 at 12:33 PM

Do you get the child tax credit?

We have 4 kids so we do get thousands back, you get more with more kids (NOT the reason we had four kids! LOL)

There is also a tax credit for home ownership and a few others, I don't do our taxes anymore, hubs started his own business and they are just to darn complicated for me ;)


luv_my_xiya
by on Jan. 25, 2009 at 12:33 PM

i made $14,000 in 2007...i got back $4000...it was mostly the EIC and child tax credit that gave me that much money...i think in some cases if you make too much money you dont get much back...and some people have a lot of deductions that get them more money back too



 

Erna2
by Platinum Member on Jan. 25, 2009 at 12:34 PM

I don't know any secret. I have 5 kids, but they only count 2 with the EIC. My DH only makes about 30,000 a year. We are getting about 6,000 back. I do ours online, but when we went to get them done, it was about the same... How many kids do you have?

KairisMama
by Ruby Member on Jan. 25, 2009 at 12:35 PM

Well for one, what tax deductions are being taken from your paychecks? If you are not having enough tax withheld, that prevents money from coming back. Your yearly income in general makes a difference.

Home ownership helps. I have mortgage interest and property taxes to claim. I also have charitable donations to claim. I donated my car in 2008, and have a $1400 write off. Some people have childcare expenses, medical expenses, etc. All of that can help towards actually getting a refund.

 

TALuke
by on Jan. 25, 2009 at 12:35 PM

Do you use Turbo Tax?  They walk you through everything and help you search for deductions.

Peace,

Trully  

rockinmomto2
by on Jan. 25, 2009 at 12:36 PM

The people who make less than you probably get the Earned Income Credit for each kid. We didn't make a whole lot of money last year, and with two kids, we're getting $5600 back. Make sure that you are checking to see if you get the EIC, and the Child Tax Credit. We get the Turbo Tax program, and it's super easy. We also take out all of the deductions we can (so we get more money per week). I hope you can figure it out!

Jenny73
by on Jan. 25, 2009 at 12:36 PM

well you can itemize your taxes, take the interest off your home if you have one and or equity loans, anything you have donated including money, or things, medical, dental, eye doctor, and prescriptions. Your children are deductions. Also see how much you have that is being taken out of yours or your SO paycheck you can claim up to 10 without any irs problems, but the more the claim the less you get back. hope this helps.

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