Ok, tax year 2006 will be my first year as a single filer/not a dependent. To those with experience: How much time will it take to play around with my tax forms to find what my "magic" allowance number is vs. how much will I actually save by doing so?

3/27/2006 12:04:38 PM

You mean for setting up your withholdings for the coming year?

3/27/2006 12:22:56 PM

Quote :

"you guys do this every year and every year we make fun of you. you know that's YOUR money the government is giving back to you after you lent it to them INTEREST FREE all year, right?"

yep

i pretty much had mine on the money...i'm getting back like $25 federal, and owe about $10 state.

3/27/2006 12:49:08 PM

that's awesome. i need to work on mine. we are getting back around $730 total which is pretty close. i'd honestly prefer to pay them a bit rather than let them have mine.

3/27/2006 1:30:08 PM

^^^
Yes.

3/27/2006 1:34:58 PM

i owed about 200 total to federal/north carolina/st. louis/missouri

illinois gave me $4 back

3/27/2006 1:36:55 PM

I get
$5 state
$382 fed

3/27/2006 1:37:26 PM

Something like $373 fed, $29 state (worked in LA and GA in '05)

$123 of which will be used to pay H&R Block

so I'm gonna see $279 of it

3/27/2006 3:50:48 PM

~$2800 from federal
~$450 from state

with 2 exemptions

owe blackman and sloop $200

3/27/2006 5:50:45 PM

Quote :

"you guys do this every year and every year we make fun of you. you know that's YOUR money the government is giving back to you after you lent it to them INTEREST FREE all year, right?"

this was my first real job, this year i'll have a better idea of what withholdings i need to set.

3/27/2006 7:07:41 PM

I owed money once again. Turns out I was apparently set up to have 3 Exemptions all this time. Kind of wondered why I always had to pay each year--That's not happening again, as it's annoying to pay. I save up money all year for this purpose and I STILL don't like giving it up.

Paid over $500 Federal
$280 NC
Got a return of $12 for SC (Switched states)

3/27/2006 7:53:11 PM

24 from NC
111 from VA
500 from Feds

3/27/2006 8:08:09 PM

I'd say my estimations were genius. I get a $1 refund this year from the Fed.

4/1/2006 11:35:42 PM

fed - 800
state - 200

it was my first filing, ive had someone else handle it till now, i thought i won the lottery when i heard $800

4/1/2006 11:41:18 PM

I was fairly close. I'm getting back a total of about $225 between federal and state.

4/1/2006 11:42:29 PM

i get money back. wonder when i will get it though

4/2/2006 12:08:37 PM

can someone explain the withholding? How does that relate to the amount of taxes you pay?

4/2/2006 2:20:38 PM

anyone??

4/3/2006 10:33:23 PM

federal: 3300
state: 400

I have mad deductions for grad school and some other losses

but I'm thinking i probably will fix my witholdings and put it in my savings acct, which is already doing well, or maybe my 401k.

that way, they can't use my money to build bombs and kill innocent people and arrest people for smoking weed

how to adjust your withholdings
http://www.bankrate.com/brm/itax/tips/20010124a.asp

withholdings calculator
http://www.irs.gov/individuals/article/0,,id=96196,00.html

[Edited on April 3, 2006 at 11:22 PM. Reason : .]

4/3/2006 11:20:30 PM

haven't filed yet. probably will do it this weekend. Bf's mom is an accountant, and she can probably do a better job than H&R, seeing as how they decided that 7K in scholarships was taxable income

4/4/2006 12:07:12 AM

I WANT MY RETURN!

4/4/2006 5:42:21 PM

Feds - Paid $226
State - $39 Refund
Filed last week

4/4/2006 5:49:21 PM

I tried using that form and it didn't really help me out. When reading over the instructions of the paper, it seems that I should be claiming a "2" on my fed (single, and no one can claim me). However, after talking to my parent's tax person, and my HR rep at my new job (just started this week), they both say I should claim zero on fed and 1 on state. Will this pull out too much money and give me a big refund check? That's definitely not what I want. I want it to balance out as close to zero as possible.

If I'm just a single guy, renting a place, no kids, nothing like that, what should be on fed? 0 or 1?

6/7/2006 11:31:26 PM

this reminds me that i haven't gotten my NC return back yet. Anyone else not get thiers yet? Any idea off hand who to contact about it and how do go about doing so?

6/8/2006 12:31:56 AM

$67 return from the feds
$14 return from NC

6/8/2006 12:41:03 AM

^^ Check out https://dorprod.ncdor.state.nc.us/wheresmyrefund/selection.jsp

I've not gotten mine back either and I don't remember how much my refund was for

6/8/2006 1:07:04 AM

if you dont do taxes, and say around june 8th you decide you feel like doing taxes how do you go about doing so?

6/8/2006 3:06:36 AM

Quote :

"this reminds me that i haven't gotten my NC return back yet. Anyone else not get thiers yet? Any idea off hand who to contact about it and how do go about doing so?"

i haven't gotten mine either.....its kind of annoying

6/8/2006 7:21:31 AM

wow, i literally got my maryland tax return 2 days after i submitted it.

6/8/2006 7:29:53 AM

so any input on that question?

6/8/2006 7:45:35 AM

The best thing for you to do is end up owing the state of NC a little each year. They are notorious for being late with tax refunds. It took them about 90 days for me this year. I was starting to swear the mailbox up and down and threaten lawsuits every day when I checked the mail. They did throw in $0.18 in interest for being so late though. Thanks.

https://dorprod.ncdor.state.nc.us/wheresmyrefund/selection.jsp

[Edited on June 8, 2006 at 8:05 AM. Reason : link]

6/8/2006 8:03:44 AM