I sent mine off in Feburary, then they mailed them back with a big note that said "Hey dumbass, you forgot to sign them.

So I signed them and sent them back again late March. So, now I'm just waiting for them to deposit my 3200 to my account.

I've been doing e-filing for so long, never even thought of signing a paper return.

 

That's what a CPA is for. Took me a short 30 minutes with my CPA and $130, I was done back in Feb. Keep all records and forms needed throughtout the year and it's a breeze.

That's because you make to much money ha

You're techinically doing it the correct way. If you get a large refund your basically giving the government an interest free loan. Why not save that money throughout the year and put it towards 401k (lowers your taxable income), IRA (tax deductible) or a Roth (non-taxable) etc.

If you're paying to much at the end of the year you're getting to much back throughout the year.

Of course their is no one right way that's why there is options for every person, but that is a good general rule of thumb.

 

Or... I bought a house and that's where 3000 of mine is coming from.

 

Well, the wife and I claim 9 on our our W-4s... With the money the goverment would be taking every paycheck we invest throughout the year... We both do our 5k Roth IRAs and i am at 10% currently on my 401k, since my wife is a teacher she gets a petition with a non-match 401k, so we invest it ourselves elsewhere... I have every deduciton available, and we pay less than ~12% taxes a year, so i am doing pretty good, at least IMO...

 

I got more or less what you got Derek, but was expecting for something along the lines of what Lee got.

That's a problem I wish I had!!
I did realize how freaking screwy the tax bracket system is. I need to come up with some more creative deductions!




That's actually the smartest way of doing it, but it requires a lot of work. You know you can claim M-99 if you wanted to.

 

Jules, the only way you can beat the system is if you do the 330 deal, and fill out form 2555. But..........................ya gotta stay gone for 330 out of 365. I know lots of people that live in Thailand, or Mexico to keep their 330 going. I've got my 330 in a few times, but I like to come back every few months, and yahoo! Ya know.....you get in a good gig, make good money......................but if you're single, with no dependants, ya don't get any breaks at all. It's almost sickening to realize how much goea out every pay.. One think you might want to think about, move to a state that doesn't have state income tax. That's what I'm considering, plus, I'm getting sick of the shitty weather in the northeast.

 

All the cool people are here in Texas

 

haha and louisiana

 

Yup, I've gotten close to the 330 before but never actually done it or ever claimed it. I have quite a few shipmates who live abroad, it's a tempting idea but I haven't bought into the idea just yet. When I got out of college I 'officially' lived in Florida for about 3 years because of their income tax laws, it was great! However, I had to "move" when I bought my first house in california back in 2004. Was alot harder to claim I lived in one state when I had a mortgage from a residential property in another!

There's actually a few more ways to beat the system, not sure if you've ever watched the documentary "America: Freedom to Fascism" by Aaron Russo, but it's a really really good documentary about how income taxes are illegal. It's on youtube for those that are interested but it's not for the light of heart.

 

For awhile my parents have kept theirs right under getting or paying $100. This year after some great tax bracket changes, they owe around 2k.
Mine usually stays where i get back bout 250. This year im gettin back 800 cause my income has dropped 16k from a job change. Man i miss them big pay checks :-(