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Tax Refund?

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coxew said:
That's something I had to explain to my wife last weekend. We got married last year, bought a house, and ended up getting back over $2500. She thought this was the norm and was disappointed to find out we were getting back $236 this year. I was pretty happy with my planning.
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For everyone that was married within the last year to year and a half, or so, pay attention to this. It is the "marriage penalty", and occurs when two single, working people get married and combine their income. Then all the sudden the household income is twice as much, which means you owe more tax, and usually end up owing. You will definitely owe if you don't have kids or own a house, unless you change your deductions through your employer.

I have it worked out, hopefully, to where I usually get back about $200, and that's it. That's as close as I can come to zero.
 
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FKAGobucks877 said:
For everyone that was married within the last year to year and a half, or so, pay attention to this. It is the "marriage penalty", and occurs when two single, working people get married and combine their income. Then all the sudden the household income is twice as much, which means you owe more tax, and usually end up owing. You will definitely owe if you don't have kids or own a house, unless you change your deductions through your employer.

I have it worked out, hopefully, to where I usually get back about $200, and that's it. That's as close as I can come to zero.
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That's why I married a painter. She can work full-time all year and still only make a third of what I do. Her low income balances out my income and drops me into a lower bracket. Good woman, that wife of mine, even if she does live rent-free. :biggrin2:

I haven't really gotten into it, but I glanced over the numbers and we will be getting at least $900 back. More once I get my annual IRA deposit in.
 
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coxew said:
That's something I had to explain to my wife last weekend. We got married last year, bought a house, and ended up getting back over $2500. She thought this was the norm and was disappointed to find out we were getting back $236 this year. I was pretty happy with my planning.
Click to expand...

I think that is the norm for every wife. Every year when I say we are getting back $X she always says, "Is that all?" I swear one year I am going to tell her we are getting a refund of $50,000, but she will still probably say it. :)
 
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We're getting one this year. It'll be going towards my OSU tickets and a new PC for the wife b/c she's headed back to school. What's great is that we both get our quarterly bonuses at the same time as our tax return, so we can enjoy the money a little and still put a bunch into savings.
 
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I always get a refund, and the wife always owes money. We usually file seperately, so we don't get boned by the state income tax. She owes less than my refund will be, so it's not so bad. Of course, I'd prefer that no taxes were with-held, and we all have to write a check for what we owe. Then, I think people would be more outraged at the taxes. As it is, people see filing taxes as a way to get a big refund, thinking they're making money on the whole thing. Stupid boners: the IRS is taking your flippin' money!
 
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I don't have a problem paying taxes, I have a problem with the way my government spends my money. Hey, I have an idea - let's collect money from the taxpayers, and then give it all to the people too lazy to work! Oh, wait...that's already happening.
 
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