Claim 0 on W-4. Still owe taxes. WTF?

[Rct851]

I'm always down for a good cry about taxes lol. It's nice to hear other people are in the same boat(sorry), it is so frustrating reading "what are you buying with your tax return" threads.

Obviously commented cause I claim 0 and still owe 3-4K the past few years.

Such a pain in the ass. Next purchase for me is a house, the almost 12k I've paid at filing the last three years would go a loooong way to naming that happen.

I am single, no kids, 27 and a decent income. I am exactly the person that would do my part fueling the economy if I was able to hang on to more of my money. Ok cry is over, back to work.

 

[Blackness03]

I owe $2200 I think. I'm pissed. I did the free turbotax thing online and that's what it came out to. I'm going to a real tax place next week to let them do it as a last resort in hopes I'm doing it wrong.

 

[Riddick]

I'd say you and your wife make a lot of money combined. My wife and I are both active duty so only about half of our income is taxed. We have two kids and claim 0 and we ended up getting 8300 back. Im guessing its because we have 2 kids and pay a pretty good amount into daycare.

Like others have said just have your employer take out more money, or take a pay cut so your in a lower tax bracket.... Jk obviously

 

[Rct851]

I'd say you and your wife make a lot of money combined. My wife and I are both active duty so only about half of our income is taxed. We have two kids and claim 0 and we ended up getting 8300 back. Im guessing its because we have 2 kids and pay a pretty good amount into daycare.

Like others have said just have your employer take out more money, or take a pay cut so your in a lower tax bracket.... Jk obviously

This is the part I truly don't understand. Don't get me wrong, I wish the best for you and hope you get every dime back. I just don't understand the tax brakes for having kids. It's like I'm being punished for being responsible and not getting some chick preggers.

 

[Grabber]

This is the part I truly don't understand. Don't get me wrong, I wish the best for you and hope you get every dime back. I just don't understand the tax brakes for having kids. It's like I'm being punished for being responsible and not getting some chick preggers.

I agree with this.

Having a kid is a choice. Having a place to live and even having a job to live is not a choice, unless you like living as a homeless person. I feel people that have kids are rewarded and those that do not are penalized even more, despite making "more" money.

My wife and I bust our asses, pay a lot in student loans, mortgage, mortgage insurance and over $16,000 in JUST federal taxes and have to shell out several more thousand. Now, to avoid this, we are reducing our checks and taking a $250 per month loss on income so we don't owe in 2017.

In Chicago, our income is nothing special and hardly considered middle class (125K combined)

 

[Riddick]

This is the part I truly don't understand. Don't get me wrong, I wish the best for you and hope you get every dime back. I just don't understand the tax brakes for having kids. It's like I'm being punished for being responsible and not getting some chick preggers.

There is more to it than just tax breaks. I think it's roughly around 1k per child you get back but I could be wrong. I think we received so much back because only half our income is taxed. On top of that we own 2 houses, one is a rental. Based off our taxable income alone it looks like we don't make enough money to survive. However, military does not tax bah(housing) or money for food (bas).

Kids definitely help but like I said when you factor in all of your interest you pay in mortgages and deduct daycare costs your return really starts to add up.

I do agree with you though, when I was single I would only get a few hundred back every year. Married with children definitely get way more for whatever reason though.

 

[Branhammer]

I'd say you and your wife make a lot of money combined. My wife and I are both active duty so only about half of our income is taxed. We have two kids and claim 0 and we ended up getting 8300 back. Im guessing its because we have 2 kids and pay a pretty good amount into daycare.

Like others have said just have your employer take out more money, or take a pay cut so your in a lower tax bracket.... Jk obviously

I miss that perk of being AD. Being an ANG ART is awesome, but the downside is that my income is all taxable.

This is the part I truly don't understand. Don't get me wrong, I wish the best for you and hope you get every dime back. I just don't understand the tax brakes for having kids. It's like I'm being punished for being responsible and not getting some chick preggers.

My wife and I were bitching about this non-stop while doing our taxes. "Oh you're responsible and successful? More taxes for you to pay then!"

I have to agree that there shouldn't be tax breaks for having kids. If anything, people with kids should be paying more IMO to pay for their kids education. I have no kids to contribute to said need for education, so why am I paying more in taxes?

But this isn't an attack on parents. I personally think there should be a flat tax and don't think there should be ANY tax breaks. If you have kids, you better be able to afford them without tax credits, if you want to donate to charity it's out of the kindness of your heart because you're still paying your fair share of taxes, etc. Of course then everyone from the IRS to H&R Block to charitable organizations would be fighting to stop a flat tax from happening.

 

[MG0h3]

I owe $2200 I think. I'm pissed. I did the free turbotax thing online and that's what it came out to. I'm going to a real tax place next week to let them do it as a last resort in hopes I'm doing it wrong.

I did this like 10 yrs ago. Then used the return I paid 400 bucks for (couple rentals so mine is more involved) and turbo tax works great. In fact, going through the guided turbo tax was damn near page for page as I flipped through the return I paid for. Tim Geitner uses it!

Just remember, when your tax guy does hinky crap, you are not relieved of responsibility as you sign it as true and correct.

 

[STAMPEDE3]

The whole tax code sucks.
I hate these ****ers more and more every day.

Add up all the taxes you pay,
Fed, state, sales tax, fuel tax, property tax, registration fees, etc....
Mine comes out to 53% of my pay check going to the government in some way shape or form.
Someone tell me that this is fair to my face.

 

[BrunotheBoxer]

This is the part I truly don't understand. Don't get me wrong, I wish the best for you and hope you get every dime back. I just don't understand the tax brakes for having kids. It's like I'm being punished for being responsible and not getting some chick preggers.

Wait till you buy a house and start paying for all the little ****ers to attend school.

 

[ViperRed91GT]

Interest free $1500 loan.. I don't see the problem? Before paying extra each month I'd put it into savings. Any percentage is better than 0

 

[Branhammer]

The whole tax code sucks.
I hate these ****ers more and more every day.

Add up all the taxes you pay,
Fed, state, sales tax, fuel tax, property tax, registration fees, etc....
Mine comes out to 53% of my pay check going to the government in some way shape or form.
Someone tell me that this is fair to my face.

This. The next time I hear some liberal tell me that it's okay because "I can afford to pay more" I swear I'm going to shit directly into their oxygen-wasting mouth.

 

[STAMPEDE3]

This. The next time I hear some liberal tell me that it's okay because "I can afford to pay more" I swear I'm going to shit directly into their oxygen-wasting mouth.

I want to go more extreme but it would get ugly for a little while.

2 options,

1. Everyone go to HR next Monday and change to exempt and tell them to not take taxes out any more.

2. Next Monday everyone just quit your job and go apply for all the free shit.

Extreme yes. Maybe even crazy but other than some total type of revolt I don't see shit happening.

One thing is for sure,
They can't arrest us all, they have no room and can't afford it any longer if they did.

Just make sure you can protect yourself and your stuff.

 

[black4vcobra]

If you guys want to bitch about taxes as they relate to presidential candidates, run this calculator for yourself and see how each candidate would affect you're take home pay. http://www.vox.com/policy-and-politics/2016/3/25/11293258/tax-plan-calculator-2016

Comrade Sanders would have my already kinda poor ass paying $7600 more in federal income taxes each year...

 

[oldmodman]

Since I am now fully retired my taxes will be dropping.

This year I expect to pay only 42K :cryying:

I need to start a new business so I can expense everything and lose money too.

 

[Branhammer]

If you guys want to bitch about taxes as they relate to presidential candidates, run this calculator for yourself and see how each candidate would affect you're take home pay. http://www.vox.com/policy-and-politics/2016/3/25/11293258/tax-plan-calculator-2016

Comrade Sanders would have my already kinda poor ass paying $7600 more in federal income taxes each year...

According to that, my wife and I would be paying $12,000 more, yet on that same article, it says that the rates would not go up that much for the middle class. WTF is their definition of middle class?

 

[STAMPEDE3]

Dude, if you make 106k a year you are in the top 10%.
It doesn't take much to go up from there.
Over 100k you are considered rich by government standards.

 

[13COBRA]

If you guys want to bitch about taxes as they relate to presidential candidates, run this calculator for yourself and see how each candidate would affect you're take home pay. http://www.vox.com/policy-and-politics/2016/3/25/11293258/tax-plan-calculator-2016

Comrade Sanders would have my already kinda poor ass paying $7600 more in federal income taxes each year...

Shit, I would pay out $12k more by myself. I need to get married and have 4 kids pronto.

 

[Branhammer]

Dude, if you make 106k a year you are in the top 10%.
It doesn't take much to go up from there.
Over 100k you are considered rich by government standards.

If that's the case, then the economy is truly rigged. Not that I didn't already know that. I know one thing, we need to start investing in property or something...

 

[NC85]

Add me to the list of withholding 0 at single and owing too.

All I have is my house and Goodwill deductions. Old lady works a good job too, and I'm not about to go kid swimming in the snatch for $1,000.00 that will still be 2k too short at the end of the year.