Comments on: The Tax Return Spectrum http://www.nodebtplan.net/2009/02/19/the-tax-return-spectrum/#utm_source=rss&utm_medium=rss&utm_campaign=the-tax-return-spectrum A personal finance blog teaching you how to live debt free and use credit wisely. Fri, 10 Feb 2012 15:18:07 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Gumphttp://www.nodebtplan.net/2009/02/19/the-tax-return-spectrum/#comment-160630 Gump Mon, 11 Jul 2011 18:14:09 +0000 http://www.nodebtplan.net/?p=1959#comment-160630 This makes evertynihg so completely painless. This makes evertynihg so completely painless.

]]> By: Check Your Income Tax Refund on Your Smartphone | Truth Starshttp://www.nodebtplan.net/2009/02/19/the-tax-return-spectrum/#comment-134526 Check Your Income Tax Refund on Your Smartphone | Truth Stars Sat, 05 Mar 2011 03:54:11 +0000 http://www.nodebtplan.net/?p=1959#comment-134526 [...] I can’t show you what the next section of the app looks like showing the actual status of your refund because I haven’t filed my return yet. Shame on me, but I haven’t had enough time to double check my math and to make sure I didn’t miss any additional income or deductions. I’ve done the leg work to know I won’t be paying more into the system this year — we fell right where I wanted to on the Tax Return Spectrum. [...] [...] I can’t show you what the next section of the app looks like showing the actual status of your refund because I haven’t filed my return yet. Shame on me, but I haven’t had enough time to double check my math and to make sure I didn’t miss any additional income or deductions. I’ve done the leg work to know I won’t be paying more into the system this year — we fell right where I wanted to on the Tax Return Spectrum. [...]

]]> By: The Correlation Between Aggressive Driving and Aggressive Spending | Personal Finance Firewallhttp://www.nodebtplan.net/2009/02/19/the-tax-return-spectrum/#comment-12274 The Correlation Between Aggressive Driving and Aggressive Spending | Personal Finance Firewall Fri, 27 Feb 2009 14:43:24 +0000 http://www.nodebtplan.net/?p=1959#comment-12274 [...] the aggressive spender is able to save a little bit, possibly by putting away a portion of a tax return, and tries to invest those savings into stocks or another volatile market, the cool head that is [...] [...] the aggressive spender is able to save a little bit, possibly by putting away a portion of a tax return, and tries to invest those savings into stocks or another volatile market, the cool head that is [...]

]]> By: Kevinhttp://www.nodebtplan.net/2009/02/19/the-tax-return-spectrum/#comment-12063 Kevin Wed, 25 Feb 2009 14:36:37 +0000 http://www.nodebtplan.net/?p=1959#comment-12063 @Russell: Great analogy. And good plan -- split the extra money off into a savings account. @Russell: Great analogy. And good plan — split the extra money off into a savings account.

]]> By: Russell Fascendahttp://www.nodebtplan.net/2009/02/19/the-tax-return-spectrum/#comment-11887 Russell Fascenda Mon, 23 Feb 2009 23:03:43 +0000 http://www.nodebtplan.net/?p=1959#comment-11887 I agree the idea of the "refund" is silly, I try to explain it's not a refund of anything, it's "change" from your payment. How about if every time you went to McDonald's, they never gave you any change from your purchase. They just said we'll hold onto whatever you overpaid, and at the end of the year we'll give it all to you at once. If you need help saving, why not have your employer split your direct deposit into two accounts, one a savings account and another a checking account. Even if savings doesn't earn much these days, it's under your control. Now if you're really shrewd, reduce your withholding, save some of the excess take-home pay, and make a rough guess at your tax bill the first week of January. Send an estimated tax payment on January 15 to make up what you under-withheld so you'll have no penalty on the return. I agree the idea of the “refund” is silly, I try to explain it’s not a refund of anything, it’s “change” from your payment. How about if every time you went to McDonald’s, they never gave you any change from your purchase. They just said we’ll hold onto whatever you overpaid, and at the end of the year we’ll give it all to you at once.

If you need help saving, why not have your employer split your direct deposit into two accounts, one a savings account and another a checking account. Even if savings doesn’t earn much these days, it’s under your control.

Now if you’re really shrewd, reduce your withholding, save some of the excess take-home pay, and make a rough guess at your tax bill the first week of January. Send an estimated tax payment on January 15 to make up what you under-withheld so you’ll have no penalty on the return.

]]> By: Kevinhttp://www.nodebtplan.net/2009/02/19/the-tax-return-spectrum/#comment-11673 Kevin Sun, 22 Feb 2009 05:36:18 +0000 http://www.nodebtplan.net/?p=1959#comment-11673 @Budgets are Sexy: Wow I can't imagine having $6k land in my lap. There is a piece of me that wonders if our tax software is catching everything that a CPA would. Hmmm... @Scott: That is truly an odd situation out there in California. Hoping you aren't expecting a lot back! @crunchygeek: right back at you! I thought I was alone :) Software seems good enough for me when you go through all of the forms and whatnot. Could you figure the child tax credit into your taxes/W-4 forms up front and get more during the year? @Personal Finance Playbook: Well there's 3 of us then! @Alison: Again I would rather have a tiny refund than a big IOU from the government, but the closer to 0 the better. @Budgets are Sexy: Wow I can’t imagine having $6k land in my lap. There is a piece of me that wonders if our tax software is catching everything that a CPA would. Hmmm…

@Scott: That is truly an odd situation out there in California. Hoping you aren’t expecting a lot back!

@crunchygeek: right back at you! I thought I was alone :) Software seems good enough for me when you go through all of the forms and whatnot. Could you figure the child tax credit into your taxes/W-4 forms up front and get more during the year?

@Personal Finance Playbook: Well there’s 3 of us then!

@Alison: Again I would rather have a tiny refund than a big IOU from the government, but the closer to 0 the better.

]]> By: Alison@This Wasn't In The Planhttp://www.nodebtplan.net/2009/02/19/the-tax-return-spectrum/#comment-11566 Alison@This Wasn't In The Plan Sat, 21 Feb 2009 03:38:28 +0000 http://www.nodebtplan.net/?p=1959#comment-11566 After filing our taxes last year (and receiving a big refund), my husband filled out a new W-4 so less taxes were takes from each paycheck. This year's refund was considerably less, but still a refund, so he'll be filling out a new W-4. So yeah, we're not fans of the huge refund! After filing our taxes last year (and receiving a big refund), my husband filled out a new W-4 so less taxes were takes from each paycheck. This year’s refund was considerably less, but still a refund, so he’ll be filling out a new W-4. So yeah, we’re not fans of the huge refund!

]]> By: LALhttp://www.nodebtplan.net/2009/02/19/the-tax-return-spectrum/#comment-11523 LAL Fri, 20 Feb 2009 18:42:34 +0000 http://www.nodebtplan.net/?p=1959#comment-11523 I like owing, typically under $1k though. I like owing, typically under $1k though.

]]> By: The Personal Finance Playbookhttp://www.nodebtplan.net/2009/02/19/the-tax-return-spectrum/#comment-11497 The Personal Finance Playbook Fri, 20 Feb 2009 14:42:00 +0000 http://www.nodebtplan.net/?p=1959#comment-11497 I use TaxAct, too. I'm a little behind on filing this year, though. My goal is to get them filed this weekend. I use TaxAct, too. I’m a little behind on filing this year, though. My goal is to get them filed this weekend.

]]> By: Crunchygeekhttp://www.nodebtplan.net/2009/02/19/the-tax-return-spectrum/#comment-11488 Crunchygeek Fri, 20 Feb 2009 12:57:22 +0000 http://www.nodebtplan.net/?p=1959#comment-11488 I am so glad to see that someone else uses Tax Act. I have used it for at least 3 years now. I'm very satisfied with it. I have 6 kids, so I get a large refund due to the child tax credit. It is a nice bonus this time of year, but I wish I could get it throughout the year. I am so glad to see that someone else uses Tax Act. I have used it for at least 3 years now.

I’m very satisfied with it.

I have 6 kids, so I get a large refund due to the child tax credit. It is a nice bonus this time of year, but I wish I could get it throughout the year.

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