2005 Taxes - what are you getting / paying?

[CasopoliS]

I know its a bit early....

Just e-filed my 2005 taxes. I am getting $2,050 total back for both state and federal. We will have to see how quick the direct deposit goes through... but it is usually within a week when you get them in this early.
I realized I did not deduct enough for education though (Graduated UT, Spring 05)... oh well, missed out on like $50 probably.

What are you getting back or paying for 2005?

Also, TurboTax Premier 2005 was really great. Steps you through all of your deductions and saves everything for next year. I think it is easier than their web application, but really it is about the same. It cost me $29.90 to submit both federal and state through e-file, but I think I could have just printed the forms and mailed them for free. To e-file you need to know your adjusted gross income from 2004.
PM me if you want this software.

 

[yashooa]

No State tax in Texas. With my three kids, 4000 bucks in property tax, and my 1800 a month house payment plus the fact my Wife and I claim zero throughout the year we should get a tidy sum. Oh, and sales tax is deductable as well so through that into the mix.
We do pay a lot into the system though which kind of makes me sick...
I pay a tax man to do mine and he has a copy of all our returns dating back to 1989.

 

[CasopoliS]

No State tax in Texas. With my three kids, 4000 bucks in property tax, and my 1800 a month house payment plus the fact my Wife and I claim zero throughout the year we should get a tidy sum. Oh, and sales tax is deductable as well so through that into the mix.
We do pay a lot into the system though which kind of makes me sick...
I pay a tax man to do mine and he has a copy of all our returns dating back to 1989.

cool man. My property tax goes into an escrow and comes out of our monthly paymet to the mortgage. Hopefully it is also included in the interest statement I get from my lender for the mortgage.

 

[girth]

So how much total did you guys end up paying in (after all child deductions and such)?

 

[BOOSTR]

Its better to have your money in your paycheck versus getting a big return. Uncle Sam doesn't pay you any interest, but will gladly use your money for free. As long as I don't owe anything, I'll be happy.

 

[GrandBelialKey]

got 1400 yesterday, going to get 1500 in a few more days... then I'll get about 1000 more when I file my ammended return from last year. (pow)

 

[DooMer_MP3]

Its better to have your money in your paycheck versus getting a big return. Uncle Sam doesn't pay you any interest, but will gladly use your money for free. As long as I don't owe anything, I'll be happy.

Very true, but for some people (like me) it works out better. I'll be paying off my car, rest of my CC debt and the next 6 months insurance with the lump sum, instead of spending it stupidly each paycheck .

 

[wannabe]

Very true, but for some people (like me) it works out better. I'll be paying off my car, rest of my CC debt and the next 6 months insurance with the lump sum, instead of spending it stupidly each paycheck .

exactly. plus if i end up oweing its a lot harder to pay at once than small chunks year round.

 

[CasopoliS]

exactly. plus if i end up oweing its a lot harder to pay at once than small chunks year round.

There is no definig point for me. Claming 0 = money at beginning of year, Claiming 1 = paying money at beginning of year. I would rather get a good amount of money rather than paying a small amount. It is unbudgeted money that I can play with.

 

[DiscreetSpeed]

Woot! income tax filed...plans with money?

All going to the my love (car) (boom07)
what are your plans?

 

[MSP #167]

paying off some credit card debt

 

[CasopoliS]

See my thread here:
http://www.msprotege.com/forum/showthread.php?t=123622150

 

[CasopoliS]

Just checked my status, and my federal was accepted. I am guessing it will be 3-5 days before it gets deposited! Sw33t!

 

[Protege52003]

going to work on ours tonight!

 

[MSP #167]

i have a question, if i worked 2 jobs this past year do i have to wait until i get a w2 form from both companies before i file or can i file one then do the other once i get it?

 

[DiscreetSpeed]

See my thread here:
http://www.msprotege.com/forum/showthread.php?t=123622150

(boom07) damnit

 

[wannabe]

i have a question, if i worked 2 jobs this past year do i have to wait until i get a w2 form from both companies before i file or can i file one then do the other once i get it?

you can always *make* a w-2 based off your last paycheck...thats what my accountant had to do a couple years back because i never got a w-2, but otherwise, yes.

 

[CasopoliS]

I would just wait until you have both W-2's. Its early yet. You should have them by the end of the month depending on how quick your company is. They are obligated by jan. 31st though. I did a tax estimator based on my last paycheck in December though... link for that is below. It actually got really close with my deductions and everything!

http://www.taxcut.com/calculators05/outlook/frameset_2.html

 

[DiscreetSpeed]

going all the pimp mobile

 

[CasopoliS]

dont be upset.