I'll probably get a nice refund, but first I have to get my taxes done. I was all ready to sit down and get them done the other day when they told me that this year you need to have your social security card. Not just your number. They want proof because of some new law they passed to help fight illegal immigration. I haven't had a card in years, so I had to order another one, which I should be getting in a week or two. Some states or tax offices may be more lenient with this than others. But in my state, if you don't have a card, you're not getting your taxes done. I don't know how it works if you do your own taxes. But I just wanted to give everybody a heads up. Make sure you have your card when you go to get your taxes done..
Me neither.
There is something they can do such as maximizing 401K contribution as much as they can, just take home enough to cover monthly expenses. It can reduce their tax liabilities while putting their money to work yet a lot of them opting to send their cash to IRS lockbox which earn zero return.
hno:
Some people you just can't make them understand that logic. Just like when you tell them they paid $9,000 to the Federal Government and their only getting back $4,000. That is fine by them it's like hitting the lottery to some. If your not breaking even on your taxes every year you need to hire a better accountant.
it should only be called a "refund" if you are getting a check from the government that is less than what you paid.
So say you have had $10,000 deducted or withheld from your income and are getting $5000 of that back... that is a refund.
But if you are getting an $11,000 check then you are getting a $10,000 "refund" and a $1000 hand out.
If you are in this second group I suggest you refrain from calling yourself a "taxpayer" and use the more proper term of "receives assistance"
(if you vote you could call yourself "voter that receives assistance")
So say you have had $10,000 deducted or withheld from your income and are getting $5000 of that back... that is a refund.
But if you are getting an $11,000 check then you are getting a $10,000 "refund" and a $1000 hand out.
If you are in this second group I suggest you refrain from calling yourself a "taxpayer" and use the more proper term of "receives assistance"
(if you vote you could call yourself "voter that receives assistance")
