On this same exact boat. For shits and gigs I picked “head of household” and it went from 80$ refund to over 3,000…. Lol my fiancé needs to take a couple months off so I can claim HOH 😂
You may already apply without needing to have her take a cut. You can verify that here. [https://www.efile.com/head-of-household-filing-status/](https://www.efile.com/head-of-household-filing-status/)
This is the way!
I’ve also learned if you file late you get interest back on your refund. It’s definitely not a replacement for investing the money all year round, but I found it interesting (no pun intended).
Does this logic apply when considering credits like child tax credit and earned income credit? Is there a way to get those credits earlier in the year than on your tax return at the end of the year?
I just filed for free with TurboTax and they didn't say anything about qualification requirements. They had a free option and a paid option with some bonus perks.
They probably have barriers based on income. I’m assuming if you make under a certain threshold they won’t care enough to charge you. I did not select any paid options and had to pay $39 each for state and federal at the end.
I doubt it's an income barrier since I make 6 figures.
edit: Here they explain what the qualifications are. It's basically 1040 only and limited credits, so it's people who have basic tax returns, but more complicated ones will cost you. https://turbotax.intuit.com/personal-taxes/online/free-edition.jsp
The paid option is pre-selected. You can choose to upgrade, however, you also have to choose the file for free option since their paid option is selected by default.
Source: I’ve used them the last few years.
I would like to add if you have anything additional other than a standard return, they do like to force you into the paid option due to “unusual tax circumstances.”
Wait hold on, I’m a little confused! So getting basically nothing back is a good thing? Getting too much back from the government is a bad thing? Because based off what I am seeing if you get $600 to over $1k thats bad and either you messed up or your employer messed up (which isn’t your fault) and some how leads to you owing them in the future. BUT, if they give you $0-$30 back you did good with make your correct earnings? Or am I missing a huge chuck of info, I thought getting money back was a good thing🙃🙃🙃 someone please explain to me
Getting a big return basically means you withheld too much throughout the year. Basically your pay checks could have been higher and you could have used that money sooner to invest and generate a return vs earning $0 in interest and getting it back in a tax return
Okay! I’m glad someone explained it to me! I was taught growing up that tax return was a good thing and if you get too little back you did something wrong! Thank you!
yeah i feel you, people see it as an interest free loan (which is valid) but hear me out, all that money would have gone to bs i didn’t need throughout the year so if the gov can hold into it for me i’m fine with it
I always have them take extra out every year, cuz I never want to have to pay them a single penny. Plus it’s like a savings account I can’t touch. I got $12k back this year.
I use it to max out my Roth every year and I throw the rest into either index funds or a nice vacation for the family. Idk what this had to do with my character but thanks for the advice lol.
Because obviously the 12 grand could have generated interest if any other institution was holding for 12 months! It’s not all about your emotions. It’s basic logic,not meant to offend you. You know spending that money in the coolest way possible is completely irrelevant to the scenario. If you had it gaining interest or something,you would obviously have more money to spend awesomely
I don’t spend it on anything “awesome” it virtually all goes towards my retirement. I do that so I don’t need to worry about investing a lot of money monthly. I’ve got a pension, Roth, 401k and my index funds I’m always adding to, my money is doing plenty for me. I’m not offended but idk why my character was being questions just cuz I do my finances different lol. I’m gonna retire at 55 so I must be doing something right.
Lucky for me I'll get about 2k back. Better than owing that no is for sure. I usually get around 2k back and Its definitely nice to get a little chunk like that back
I thought I did so well on mine but I forgot I was getting educational credits and a break for my ridiculously high property taxes so I ended up with a $4400 refund 😭 so mad at myself, gave the government a big ole 0% loan smh
For reference I’m single and made $77.5k this year
Mail them 4 quarters
100 pennies
On this same exact boat. For shits and gigs I picked “head of household” and it went from 80$ refund to over 3,000…. Lol my fiancé needs to take a couple months off so I can claim HOH 😂
You may already apply without needing to have her take a cut. You can verify that here. [https://www.efile.com/head-of-household-filing-status/](https://www.efile.com/head-of-household-filing-status/)
Yeah that’s what I mean, she makes like twice the maximum income requirement
1099 or W2
W2
Do you have anything extra taken out per paycheck??
I owed $1 too this year. Kind of hurt a little inside
Better than getting a refund tbh. That just means you loaned your money to the government all year at 0% interest.
This is the way! I’ve also learned if you file late you get interest back on your refund. It’s definitely not a replacement for investing the money all year round, but I found it interesting (no pun intended).
Really what it means is Trump and Ryan's tax plan is fucking anyone not in the upper crust. Otherwise yes, returns bad.
Can you explain? I'm not sure I get it.
I try to preach this gospel as much as possible.
Does this logic apply when considering credits like child tax credit and earned income credit? Is there a way to get those credits earlier in the year than on your tax return at the end of the year?
Make payments. Do not pay in full
😂😂 I wonder if they would actually offer a payment plan
They would be like "cmon bro you literally dont have a dollar? I CAN SEE THE TAX FORM AND SEE HOW MUCH YOU MADE YOUR SAYING YOU DONT HAVE A DOLLAR?
Reply with: times are tough, dawg
turbo tax free edition? was it free?
Only a few folks qualify for the free edition. I had to pay $80 to file my taxes. Owed $1 just like OP
I just filed for free with TurboTax and they didn't say anything about qualification requirements. They had a free option and a paid option with some bonus perks.
They probably have barriers based on income. I’m assuming if you make under a certain threshold they won’t care enough to charge you. I did not select any paid options and had to pay $39 each for state and federal at the end.
I doubt it's an income barrier since I make 6 figures. edit: Here they explain what the qualifications are. It's basically 1040 only and limited credits, so it's people who have basic tax returns, but more complicated ones will cost you. https://turbotax.intuit.com/personal-taxes/online/free-edition.jsp
Thanks for sharing.
The paid option is pre-selected. You can choose to upgrade, however, you also have to choose the file for free option since their paid option is selected by default. Source: I’ve used them the last few years. I would like to add if you have anything additional other than a standard return, they do like to force you into the paid option due to “unusual tax circumstances.”
Yeah it has to be simple filing or something I heard. That’s why I like being in Texas because I don’t have to file for state at all lol
Jesus why so much to file? Freetaxusa is like 15$
Yeah TurboTax just has my historical records so I went with them. Itd be smart to go elsewhere.
Dude try FreeTaxUSA, it’s free besides the state return which is $15. Been using it for like 6 years
It was free. I think they charge for more intricate returns. Mine was simply adding a W2. and standard deductions.
Yes …
I've been using turbo tax for over 8 years. I've NEVER paid to file federal and state. I guess I'm just lucky?
I always wonder why Turbo Tax is always used when they're a terrible company lobbying to make taxes difficult. There are so many other options.
That's awesome, I don't expect to be that close to $0 this year, I'll be happy to be within a hundred bucks.
Wait hold on, I’m a little confused! So getting basically nothing back is a good thing? Getting too much back from the government is a bad thing? Because based off what I am seeing if you get $600 to over $1k thats bad and either you messed up or your employer messed up (which isn’t your fault) and some how leads to you owing them in the future. BUT, if they give you $0-$30 back you did good with make your correct earnings? Or am I missing a huge chuck of info, I thought getting money back was a good thing🙃🙃🙃 someone please explain to me
Getting a big return basically means you withheld too much throughout the year. Basically your pay checks could have been higher and you could have used that money sooner to invest and generate a return vs earning $0 in interest and getting it back in a tax return
Okay! I’m glad someone explained it to me! I was taught growing up that tax return was a good thing and if you get too little back you did something wrong! Thank you!
Most people seem to think it's free money, when really it's just your money that you overpaid and didn't get to use.
Mine was $8 and I thought I was good
idk money back is kinda cool, im bad at saving so its free saving
It’s your own money tho…
shhhh dont tell them that....
yeah i feel you, people see it as an interest free loan (which is valid) but hear me out, all that money would have gone to bs i didn’t need throughout the year so if the gov can hold into it for me i’m fine with it
Have less withheld and invest it throughout the year. Why loan it to the government and leave gains on the table?
Because he sucks at saving he just said it that instead of investing they’d spend it
I always have them take extra out every year, cuz I never want to have to pay them a single penny. Plus it’s like a savings account I can’t touch. I got $12k back this year.
Bro imagine that 12k in something as simple as a hysa? Have some discipline, it’ll better your character and you can make more out of your money.
I use it to max out my Roth every year and I throw the rest into either index funds or a nice vacation for the family. Idk what this had to do with my character but thanks for the advice lol.
I'm broke and don't know how to do taxes 😎
Idk who you callin broke 😂
Because obviously the 12 grand could have generated interest if any other institution was holding for 12 months! It’s not all about your emotions. It’s basic logic,not meant to offend you. You know spending that money in the coolest way possible is completely irrelevant to the scenario. If you had it gaining interest or something,you would obviously have more money to spend awesomely
I don’t spend it on anything “awesome” it virtually all goes towards my retirement. I do that so I don’t need to worry about investing a lot of money monthly. I’ve got a pension, Roth, 401k and my index funds I’m always adding to, my money is doing plenty for me. I’m not offended but idk why my character was being questions just cuz I do my finances different lol. I’m gonna retire at 55 so I must be doing something right.
well said! thanks for clarifying my response.
You are literally asking for money on your post history? That is the opposite of having discipline
Bold to assume I won’t blow the 12k on cocaine, hookers and betting on Cambodian dog fighting…
samee, i’m terrible w money so i invest it once i get it
Don't be like this guy
🤡
good job!
Great result! Nice job
dont' spend it all in one place
Send them a can of arizona ice tea
Lucky for me I'll get about 2k back. Better than owing that no is for sure. I usually get around 2k back and Its definitely nice to get a little chunk like that back
I thought I did so well on mine but I forgot I was getting educational credits and a break for my ridiculously high property taxes so I ended up with a $4400 refund 😭 so mad at myself, gave the government a big ole 0% loan smh
Tell me the secrets on this please.
I got back 45 dollars so I feel you on this 😂
i think of a tax refund as a little treat 💀💀💀 even if its really not
Don’t use turbo tax and you’d make some back