https://boards.hellobee.com/ Pregnancy, Baby and Parenting blog, by Hellobee en Wed, 22 Jul 2026 01:50:54 +0000 https://boards.hellobee.com/topic/do-you-count-on-tax-money/page/3#post-1385119 Wed, 29 Jan 2014 15:41:39 +0000 birdofafeather 1385119@https://boards.hellobee.com/ <p>We aim to have a zero sum. My dad writes income tax software so he knows a lot of ins and outs. We also have annoying taxes in that I've had a W2, 1099, and run my own business as well. DH only has a W2 so we play a numbers game to even out my 1099 and business owner stuff. </p> <p>I don't want to owe and I don't want a huge return either. Since we're not making much due to DH being in school, every dollar gets accounted for each month so I want that in my pocket now rather than in the spring in a lump sum. </p> https://boards.hellobee.com/topic/do-you-count-on-tax-money/page/3#post-1385070 Wed, 29 Jan 2014 15:29:46 +0000 jedeve 1385070@https://boards.hellobee.com/ <p>@littlek: I never said you did. </p> https://boards.hellobee.com/topic/do-you-count-on-tax-money/page/3#post-1384938 Wed, 29 Jan 2014 14:50:49 +0000 Modern Daisy 1384938@https://boards.hellobee.com/ <p>We usually mentally calculate how much we 'should' be getting, but it's never spent before it arrives. Even last year when we got a significant amount back, I refused to believe it was coming until it was in our bank accounts. </p> <p>We learned our lesson one year when we unknowingly changed our deductions so that we owed almost $7K. Thankfully we had the $, but we went from never thinking about what our taxes would be to constantly calculating it every time our financial situation changed. </p> https://boards.hellobee.com/topic/do-you-count-on-tax-money/page/3#post-1384909 Wed, 29 Jan 2014 14:46:05 +0000 raspberries 1384909@https://boards.hellobee.com/ <p>@Boogs: @jedeve: I'm with you guys on not minding if I let the government make interest off my tax money instead of making it myself. (I think I'm on your side? I'm having trouble keeping track of who's on which side.) Although we usually only get around $500 back - if the tax return was more than $5000 or so, I might be more interested in getting that money sooner. As it is - I think every little bit helps, and it's a pretty insignificant sacrifice on our side. </p> https://boards.hellobee.com/topic/do-you-count-on-tax-money/page/3#post-1384881 Wed, 29 Jan 2014 14:41:07 +0000 jhd 1384881@https://boards.hellobee.com/ <p>We always have to pay. Hoping this year we at least won't owe anything! </p> https://boards.hellobee.com/topic/do-you-count-on-tax-money/page/3#post-1384878 Wed, 29 Jan 2014 14:40:27 +0000 littlek 1384878@https://boards.hellobee.com/ <p>@jedeve: I'm not telling people what they should do but mainly stating my belief and personal choice. </p> https://boards.hellobee.com/topic/do-you-count-on-tax-money/page/3#post-1384843 Wed, 29 Jan 2014 14:33:59 +0000 Boogs 1384843@https://boards.hellobee.com/ <p>@jedeve: Interesting read, thanks! </p> https://boards.hellobee.com/topic/do-you-count-on-tax-money/page/3#post-1384840 Wed, 29 Jan 2014 14:33:02 +0000 jedeve 1384840@https://boards.hellobee.com/ <p>@littlek: I meant it is opportunity cost, not actual money out of your refund. </p> https://boards.hellobee.com/topic/do-you-count-on-tax-money/page/3#post-1384834 Wed, 29 Jan 2014 14:31:10 +0000 littlek 1384834@https://boards.hellobee.com/ <p>@jedeve: in theory it does "cost" you. Add a few zeroes to your refund number and if you put in say the stock market, that's real money that you aren't getting a ROI because you over withheld. Personally, I'd rather invest and support business growth. But again, let's agree to disagree since we have fundamentally different beliefs. </p> https://boards.hellobee.com/topic/do-you-count-on-tax-money/page/3#post-1384820 Wed, 29 Jan 2014 14:26:55 +0000 bpcmarj 1384820@https://boards.hellobee.com/ <p>This is the last year that we will likely get a refund and now owe since DH is starting his own business this year. I have plans for it (but not all of it). Basically, I want to take a small part of our refund and go away somewhere for the night and go to ikea and get a couple of expedit shelves! </p> https://boards.hellobee.com/topic/do-you-count-on-tax-money/page/3#post-1384812 Wed, 29 Jan 2014 14:24:54 +0000 jedeve 1384812@https://boards.hellobee.com/ <p>@littlek: @Boogs: This article explains it: <a href="http://www.forbes.com/2010/05/03/how-much-government-makes-off-you-personal-finance-tax.html" rel="nofollow">http://www.forbes.com/2010/05/03/how-much-government-makes-off-you-personal-finance-tax.html</a> (although it is very anti-overwithholding).</p> <p>There are other benefits to the government as well. If everyone paid *everything* on April 15, it is more likely there would be problems with compliance, than if people automatically withheld. Some people would underbudget and come up short. Withholding helps prevent that by automatically withdrawing from paychecks. It also provides the government with a steady stream of income, rather than waiting on one lump sum. That helps forecast budget projections too.</p> <p>The government isn't *making* money on you, and it isn't *costing* you anything. But yes, they theoretically do come out a little ahead and you come out a little behind on what would happen if you invested and they borrowed instead. But to me, I got a $200 refund last year. I'm okay that I didn't make the $0.20 or whatever I would have off of that! </p> https://boards.hellobee.com/topic/do-you-count-on-tax-money/page/3#post-1384760 Wed, 29 Jan 2014 14:12:52 +0000 littlek 1384760@https://boards.hellobee.com/ <p>@Boogs: Let's agree to disagree. </p> https://boards.hellobee.com/topic/do-you-count-on-tax-money/page/3#post-1384752 Wed, 29 Jan 2014 14:11:08 +0000 Boogs 1384752@https://boards.hellobee.com/ <p>@littlek: I think every little bit helps. People don't want to give the government an interest free loan because they would prefer to make a couple extra bucks off interest themselves. But, I think every dollar does add up, even if it doesn't end up totaling billions of dollars. Just my personal thoughts anyway. </p> https://boards.hellobee.com/topic/do-you-count-on-tax-money/page/3#post-1384745 Wed, 29 Jan 2014 14:08:39 +0000 littlek 1384745@https://boards.hellobee.com/ <p>@Boogs: I don't think people overwithholding taxes is going to keep us from borrowing money from other countries. </p> https://boards.hellobee.com/topic/do-you-count-on-tax-money/page/3#post-1384743 Wed, 29 Jan 2014 14:08:24 +0000 deactivated_account 1384743@https://boards.hellobee.com/ <p>@Boogs: Neither will I! </p> https://boards.hellobee.com/topic/do-you-count-on-tax-money/page/3#post-1384741 Wed, 29 Jan 2014 14:07:53 +0000 littlek 1384741@https://boards.hellobee.com/ <p>@locavore_mama: When you file a return you need to decide what your filing status is, the options are as follows: single, head of household, MFS, MFJ, and Qualifying widower. You can NOT be head of household if you are married.</p> <p><a href="http://www.irs.gov/publications/p17/ch02.html#en_US_2013_publink1000170792" rel="nofollow">http://www.irs.gov/publications/p17/ch02.html#en_US_2013_publink1000170792</a> </p> https://boards.hellobee.com/topic/do-you-count-on-tax-money/page/3#post-1384737 Wed, 29 Jan 2014 14:06:30 +0000 Boogs 1384737@https://boards.hellobee.com/ <p>@MrsMcD: Haha I never will! </p> https://boards.hellobee.com/topic/do-you-count-on-tax-money/page/3#post-1384733 Wed, 29 Jan 2014 14:05:53 +0000 Boogs 1384733@https://boards.hellobee.com/ <p>@littlek: Like you, I don't understand what is wrong with supporting our government. You scratch my back, I'll scratch yours... Isn't it better to lend them interest free money instead of them borrowing from other countries at crazy interest rates? </p> https://boards.hellobee.com/topic/do-you-count-on-tax-money/page/3#post-1384729 Wed, 29 Jan 2014 14:04:44 +0000 deactivated_account 1384729@https://boards.hellobee.com/ <p>@Boogs: If only I could bring myself to leave California and its glorious weather!!!!!! </p> https://boards.hellobee.com/topic/do-you-count-on-tax-money/page/3#post-1384728 Wed, 29 Jan 2014 14:04:12 +0000 regberadaisy 1384728@https://boards.hellobee.com/ <p>@littlek: so both people can be head of household? </p> https://boards.hellobee.com/topic/do-you-count-on-tax-money/page/3#post-1384723 Wed, 29 Jan 2014 14:03:21 +0000 littlek 1384723@https://boards.hellobee.com/ <p>@locavore_mama: married filing joint </p> https://boards.hellobee.com/topic/do-you-count-on-tax-money/page/3#post-1384722 Wed, 29 Jan 2014 14:03:04 +0000 Boogs 1384722@https://boards.hellobee.com/ <p>@locavore_mama: Married filing jointly? </p> https://boards.hellobee.com/topic/do-you-count-on-tax-money/page/3#post-1384719 Wed, 29 Jan 2014 14:02:54 +0000 littlek 1384719@https://boards.hellobee.com/ <p>@jedeve: I don't understand your comment. I don't see how overwithholding supports our government. </p> https://boards.hellobee.com/topic/do-you-count-on-tax-money/page/3#post-1384713 Wed, 29 Jan 2014 14:02:22 +0000 Boogs 1384713@https://boards.hellobee.com/ <p>@MrsMcD: It is! I'm on CA and I've thankfully never gotten an IOU. </p> https://boards.hellobee.com/topic/do-you-count-on-tax-money/page/2#post-1384710 Wed, 29 Jan 2014 14:01:11 +0000 Boogs 1384710@https://boards.hellobee.com/ <p>@plantains: My tax guy frequently talks about Roth IRAs, but that's one thing we've been bad about looking into. Anything you can tell me about them?</p> <p>@KT326: Haha, we doesn't either because we have some family members that owe so much every year. </p> https://boards.hellobee.com/topic/do-you-count-on-tax-money/page/2#post-1384705 Wed, 29 Jan 2014 14:00:43 +0000 regberadaisy 1384705@https://boards.hellobee.com/ <p>@littlek: what's MFJ? </p> https://boards.hellobee.com/topic/do-you-count-on-tax-money/page/2#post-1384703 Wed, 29 Jan 2014 14:00:36 +0000 littlek 1384703@https://boards.hellobee.com/ <p>@MrsMcD: the IOU has become more common lately due to state budget issues. </p> https://boards.hellobee.com/topic/do-you-count-on-tax-money/page/2#post-1384696 Wed, 29 Jan 2014 13:59:32 +0000 littlek 1384696@https://boards.hellobee.com/ <p>@locavore_mama: that doesn't make sense you can't be both MFJ and HoH. </p> https://boards.hellobee.com/topic/do-you-count-on-tax-money/page/2#post-1384694 Wed, 29 Jan 2014 13:59:25 +0000 deactivated_account 1384694@https://boards.hellobee.com/ <p>@Freckles: Maybe its just a California thing, but basically when California owes you money but it doesn't have the ability to pay you the money, the state sends you an "IOU." Literally, it mean California owes me money. It takes months or more to get. You can't just call California up on the phone and ask her for it. </p> <p>@Boogs: a great tax guy is worth his weight in gold! </p> <p>@Anagram: its so true that the tax refund is great if a person otherwise wouldn't have done anything wise with the money had they held on to it themselves throughout the year. </p> https://boards.hellobee.com/topic/do-you-count-on-tax-money/page/2#post-1384689 Wed, 29 Jan 2014 13:58:03 +0000 Mrs. Oatmeal 1384689@https://boards.hellobee.com/ <p>We hope that we get some back, and usually pick something that we would spend it on (replacing a window, buying a couch, etc). But if it doesn't happen, its not a problem, because its 'extra' money anyway. </p>