https://boards.hellobee.com/ Pregnancy, Baby and Parenting blog, by Hellobee en Tue, 12 May 2026 11:06:54 +0000 https://boards.hellobee.com/topic/2013-tax-returns/page/2#post-1389310 Thu, 30 Jan 2014 23:04:14 +0000 shortcake 1389310@https://boards.hellobee.com/ <p>If you are entitled to any refund, that only means they took too much out in the first place. It's like you giving the government an interest free loan. Maybe you can talk to someone about changing your withholding status, or maybe someone on here knows more. But a more appropriate withholding would mean you either break even or pay a little (which gives you an interest free loan from the government). </p> https://boards.hellobee.com/topic/2013-tax-returns/page/2#post-1389175 Thu, 30 Jan 2014 21:15:42 +0000 anonysquire 1389175@https://boards.hellobee.com/ <p>I'm just happy we're getting any amount back this year! Filed and accepted so hopefully it doesn't take too long to get the moolah. </p> https://boards.hellobee.com/topic/2013-tax-returns/page/2#post-1388050 Thu, 30 Jan 2014 14:06:25 +0000 MamaG 1388050@https://boards.hellobee.com/ <p>@kjpugs: We use turbo tax online and find it to be pretty user friendly. Our taxes are fairly simplistic (couple of W-2's, a couple of 1099's and 1098's and charitable donations). We own a home and have a child and have a little bit of investment issues. I find it's worth the small annual fee we pay to turbo tax.</p> <p>Also, we found there was zero advantage to filing seperately due to living in a marital property state. It all gets divided regardless of a fairly large variance in our two incomes. </p> https://boards.hellobee.com/topic/2013-tax-returns/page/2#post-1388027 Thu, 30 Jan 2014 14:00:57 +0000 LindsayInNY 1388027@https://boards.hellobee.com/ <p>@kjpugs: I think the online systems are fairly easy with the prompts, guiding you to whatever options are relevant for you. The fact that you live and work in the same state for the year definitely helps! </p> https://boards.hellobee.com/topic/2013-tax-returns#post-1387922 Thu, 30 Jan 2014 13:29:15 +0000 kjpugs 1387922@https://boards.hellobee.com/ <p>@LindsayInNY: yeah we used HR Block last year since ours was a little complicated with moving. B is refusing to use anyone this year. I'm going to just have to hope he truly gets what he's doing. </p> https://boards.hellobee.com/topic/2013-tax-returns#post-1387884 Thu, 30 Jan 2014 13:18:06 +0000 LindsayInNY 1387884@https://boards.hellobee.com/ <p>@MamaG: YUP. We got married in 2010 and got hit with a penalty with both our 2011 taxes and our 2012 taxes. We owed a decent amount for 2011 but almost double that for 2012. It doesn't help that DH's employer withholds for a different tax bracket than what he's in. We've tried to figure out why and they're no help. So we're both at Single-0 withholdings now and he has extra money taken out too. We try to break even with taxes but at this point I would rather get a refund than owe again!</p> <p>@PurplePeony: I think DH and I have analyzed it so much that I actually get it now! He's in the tax field but not personal income tax so it doesn't always help. Luckily it did in this case!</p> <p>@kjpugs: Did it make a little sense at least?! Did you hire someone privately last year? Maybe that's why it cost what it did? What about maybe H&amp;R Block or a similar service? Would that be cheaper? (So many questions, LOL!!)</p> <p>@skibobrown: We did that worksheet and thought it was wrong based on the amount we owed... But when we owed twice as much the next year, we needed to do something. We changed our withholdings to single-0 (since it withheld more than at the married rate) and DH has an extra amount (like $550!) taken out of his paycheck each week too.</p> <p>@Sophia: Our first year filing married was only with a couple months of being married and we owed a couple thousand. The next year, with a full year of marriage, it almost doubled. I nearly had a heart attack when I was told what we owed. We try to break even but it's a guessing game at this point. I just can't stand owing again!! </p> https://boards.hellobee.com/topic/2013-tax-returns#post-1387751 Thu, 30 Jan 2014 12:39:18 +0000 Sophia 1387751@https://boards.hellobee.com/ <p>@LindsayInNY: thank you for this post! I've always felt semi knowledgable about our taxes, but reading this made things a lot clearer for me! My husband and I also had to drop our withholdings to single after our first year of filing together. I'm hoping we fare better this year. I don't ever expect a big return, I just don't like having to pay in! </p> https://boards.hellobee.com/topic/2013-tax-returns#post-1387500 Thu, 30 Jan 2014 11:35:21 +0000 skibobrown 1387500@https://boards.hellobee.com/ <p>@LindsayInNY: My husband did the dual earners worksheet to determine extra withholding for exactly this reason. It told him to take *a lot* more out of each paycheck than the standard withholding. This is the first year we've both been in our current jobs in this situation. We'll see if we took out way too much, or way too little. I'm a little nervous. </p> <p>@Mae: Oh boo. From looking at this worksheet, I'm pretty sure that with raises this year, we're going to bump up another tax bracket. If not this year, then next. I guess those raises won't turn out to be as much money as they would be otherwise...</p> <p>Taxes are so confusing. Luckily my dad's accountant does them for us. Better him than me! </p> https://boards.hellobee.com/topic/2013-tax-returns#post-1387437 Thu, 30 Jan 2014 11:25:30 +0000 Freckles 1387437@https://boards.hellobee.com/ <p>@LindsayInNY: +1!! Lots of smiley faces for you! :) </p> https://boards.hellobee.com/topic/2013-tax-returns#post-1387410 Thu, 30 Jan 2014 11:19:11 +0000 kjpugs 1387410@https://boards.hellobee.com/ <p>@LindsayInNY: head = spinning. And we just got a message that we messed one of them up. I'm considering hiring someone now. It cost us $400 last year though and we don't have that to spare on this year's return! BLAGH!!!! </p> https://boards.hellobee.com/topic/2013-tax-returns#post-1387352 Thu, 30 Jan 2014 11:06:17 +0000 PurplePeony 1387352@https://boards.hellobee.com/ <p>@LindsayInNY: I wish our accountant had explained this half as well as you did... </p> https://boards.hellobee.com/topic/2013-tax-returns#post-1387171 Thu, 30 Jan 2014 10:19:57 +0000 MamaG 1387171@https://boards.hellobee.com/ <p>@LindsayInNY: this is exactly how DH and I got hit this year. We need to adjust withholding. </p> https://boards.hellobee.com/topic/2013-tax-returns#post-1384687 Wed, 29 Jan 2014 13:57:21 +0000 LindsayInNY 1384687@https://boards.hellobee.com/ <p>@kjpugs: Another thing to keep in mind with the brackets is that your payroll department taxes your paycheck based on the bracket your salary is in. BUT it's possible that DH is in another bracket OR that your salaries combined puts you in another bracket. If that's the case, the lower salaried person likely isn't having enough taxes taken out. It's called the "marriage penalty." DH and I have owed a lot each of the past two years (both since marrying) and had to drop our withholdings to single to have more taken out of each paycheck. Does that make sense?</p> <p>To use generic numbers, let's say you make $50,000 and DH makes $90,000. The tax rate would vary based on how you file/select your withholdings. If you file/withhold as single on a $50,000 salary, your tax rate would be 15%. BUT, if you file/withhold as married (joint or separately), your tax rate would be 15%. Likewise, if you file/withhold as single on a $90,000 salary, your tax rate would be 28% but as married-joint it would be 25% and married-separately would be 28%. NOW, if you file as married-joint, your combined income in this example would be $140,000 and the tax rate is 25%. In that case, the person earning $40,000 would be taxed at 15% and end up having too little withheld when filing married-joint. If the $90,000 salary got a $10,000 raise and the joint income was $150,000, for filing purposes, as married-joint the tax rate would be 28% then and BOTH parties have too little withheld (one at 15% and the other at 25%). In that case, you usually end up owing which is why people ask to have more withheld from their paychecks.</p> <p>Sorry, that was a lot! Clearly I know way more about this than I should... =/ (I need a smiley for this one!!) </p> https://boards.hellobee.com/topic/2013-tax-returns#post-1384620 Wed, 29 Jan 2014 13:42:49 +0000 kjpugs 1384620@https://boards.hellobee.com/ <p>@bluestriped bee: I think all things the same, it should. However the slight increase in our income made more of a difference than I'd guess, AND ecomonic factors out of our control too. I wish I hadn't just assumed we'd get more, though- always better to understimate what you'll get back! </p> https://boards.hellobee.com/topic/2013-tax-returns#post-1384614 Wed, 29 Jan 2014 13:41:35 +0000 BSB 1384614@https://boards.hellobee.com/ <p>@kjpugs: Oh, I thought having a kid gets you more of a refund. Good to know. Need to remind myself when I get pregnant. </p> https://boards.hellobee.com/topic/2013-tax-returns#post-1384521 Wed, 29 Jan 2014 13:11:36 +0000 HLK208 1384521@https://boards.hellobee.com/ <p>@kjpugs: same :( we aren't getting anything back despite having two children and buying a house...we withhold everything too. But we did go up to the next tax bracket. I think the tax brackets changed too? </p> https://boards.hellobee.com/topic/2013-tax-returns#post-1384502 Wed, 29 Jan 2014 13:06:52 +0000 birdofafeather 1384502@https://boards.hellobee.com/ <p>I'm interested to see where we'll be at bc our situation changed a ton last year (DH in school 10/12 months, my maternity leave an then me going out on my own business, etc). We usually aim to be even so we didn't give the govt money that's ours and so we don't owe! We put money in our IRA, etc to get us there! </p> https://boards.hellobee.com/topic/2013-tax-returns#post-1384418 Wed, 29 Jan 2014 12:42:44 +0000 jedeve 1384418@https://boards.hellobee.com/ <p>Employer sponsored insurance is not taxable. Maybe talk to someone in HR? </p> https://boards.hellobee.com/topic/2013-tax-returns#post-1384355 Wed, 29 Jan 2014 12:23:14 +0000 Mae 1384355@https://boards.hellobee.com/ <p>@kjpugs: yea it is just too confusing. I understand the basics of it but when it gets to the specifics about deductions I get so confused. We do pay our accountant sort of a lot of money, but I feel like she probably saves us more than she costs us because I'm sure I'd mess it up. (In fact, the first year I tried to do my own taxes after I started working I spent about 40 hrs trying and DID end up messing it up and the accountant had to go back and fix it for me the next year lol). </p> https://boards.hellobee.com/topic/2013-tax-returns#post-1384347 Wed, 29 Jan 2014 12:21:28 +0000 kjpugs 1384347@https://boards.hellobee.com/ <p>@Mae: thanks for explaining that so well! That was part of the issue- a lot of deductions we've done in the past, we couldn't. Per DH anyway. I let him handle this because it all confuses me too much!</p> <p>We're still getting $ back and I'm trying to just be positive about what we are getting. It's pretty much in-line sort of with years past. I just assumed baby would make a bigger difference but I guess I didn't realize how much more DH had been working and how that would impact us. </p> https://boards.hellobee.com/topic/2013-tax-returns#post-1384340 Wed, 29 Jan 2014 12:18:48 +0000 Mae 1384340@https://boards.hellobee.com/ <p>@kjpugs: also keep in mind though that unless going into a new tax bracket puts you into a new category for some deduction purposes a new tax bracket isn't quite as big a deal as it seems. Like for example, if you made jointly $223,000 in 2012 and $224,000 in 2013, that does NOT mean that you're paying 33% of 224 vs. 28% of 223. I'm sorry if this is something you already know but maybe someone on here does not so I'll explain anyways. Everyone pays the same % of taxes on the same amount of money. So we ALL pay 10% of the first $17,800 we make, and then we ALL pay on the next approx 55k we make and then we ALL pay 25% on th next approx 75k we make. When you go into a new tax bracket, you only pay that higher amount on the amount of money you make over the minimum for that bracket. The big difference is that if you make a lot of money you might not be eligible for the same deductions that other people are eligible for at lower brackets. </p> https://boards.hellobee.com/topic/2013-tax-returns#post-1384334 Wed, 29 Jan 2014 12:16:36 +0000 littlek 1384334@https://boards.hellobee.com/ <p>@MamaG: Yep, both. </p> https://boards.hellobee.com/topic/2013-tax-returns#post-1384331 Wed, 29 Jan 2014 12:15:38 +0000 kjpugs 1384331@https://boards.hellobee.com/ <p>@Anagram: that's great advice, thank you! </p> https://boards.hellobee.com/topic/2013-tax-returns#post-1384317 Wed, 29 Jan 2014 12:12:35 +0000 Anagram 1384317@https://boards.hellobee.com/ <p>@kjpugs: If you are still sort of close to the cusp for next year, before the year is up you can do something like make a good sized donation to a charity to bring yourself down to the lower tax bracket (depending on the tax bracket, if it saves you money...you have to figure it out).</p> <p>Something to be aware of for next year. </p> https://boards.hellobee.com/topic/2013-tax-returns#post-1384316 Wed, 29 Jan 2014 12:12:25 +0000 MamaG 1384316@https://boards.hellobee.com/ <p>@littlek: Thank you, I knew about medicare but didn't make the connection to ACA. </p> https://boards.hellobee.com/topic/2013-tax-returns#post-1384301 Wed, 29 Jan 2014 12:06:39 +0000 littlek 1384301@https://boards.hellobee.com/ <p>@MamaG: Here they are, the two new taxes:</p> <p>- Net Investment Income Tax- applies to MFJ AGI above $250k<br /> <a href="http://www.irs.gov/uac/Newsroom/Net-Investment-Income-Tax-FAQs" rel="nofollow">http://www.irs.gov/uac/Newsroom/Net-Investment-Income-Tax-FAQs</a><br /> - Additional Medicare tax (applies to MFJ AGI $250k)<br /> <a href="http://www.irs.gov/Businesses/Small-Businesses-&#038;-Self-Employed/Questions-and-Answers-for-the-Additional-Medicare-Tax" rel="nofollow">http://www.irs.gov/Businesses/Small-Businesses-&#038;-Self-Employed/Questions-and-Answers-for-the-Additional-Medicare-Tax</a> </p> https://boards.hellobee.com/topic/2013-tax-returns#post-1384290 Wed, 29 Jan 2014 12:03:37 +0000 MamaG 1384290@https://boards.hellobee.com/ <p>@kjpugs: I haven't finished our taxes yet (we are waiting on DH's W-2). But so far I'm actually seeing that we are getting back a bit more than I expected. I had a distribution from my 401K that I knew we were going to be taxed on (no penalty- not a distribution of choice) and that was our only change for the year. I would have expected that your return would have gone up since you have an additional dependent to claim. </p> https://boards.hellobee.com/topic/2013-tax-returns#post-1384284 Wed, 29 Jan 2014 12:02:54 +0000 kjpugs 1384284@https://boards.hellobee.com/ <p>@Mae: wow- so interesting!!! We had a huge jump when filing together, which shows why there was such a HUGE change in refund when filing that way. Filing separately DH had a jump. Crazy how such a little change in pay could make a big difference, I guess we were on the cusp last year and didn't realize it. Bummer. </p> https://boards.hellobee.com/topic/2013-tax-returns#post-1384272 Wed, 29 Jan 2014 12:00:57 +0000 MamaG 1384272@https://boards.hellobee.com/ <p>@littlek: Can you point me to these? I wasn't aware and would like to educate myself. Thanks! </p> https://boards.hellobee.com/topic/2013-tax-returns#post-1384251 Wed, 29 Jan 2014 11:56:46 +0000 Mae 1384251@https://boards.hellobee.com/ <p>@kjpugs: </p> [attach=4140/14/n069qn.600x305.Screen-Shot-2014-01-29-at-11.56.30-AM.png]