How much are you getting back/or paying in taxes this year?

[cantthinkofanything]

However if you have credit card debt, then you are not giving an interest free loan to the government, you are paying capital one, or citibank, etc 10 percent for the privilege of loaning money to the government.

sure...but most people with credit card debt wouldn't be inclined to use that money to pay down their balance. GO's right...that money would have been wasted on something else.

[Dark Gable]

I'll have to pay a few G's.

[resistanze]

I'll be buying Air Jordans with my handout, tbh

U mad?

[Trill Clinton]

I'll be buying Air Jordans with my handout, tbh

U mad?

lolsmh

[Wild Cobra]

conservatives whining about the tax breaks middle class people get

Bull .

I'm not complaining about any tax break.

Do you know the difference between a deduction and a tax credit?

A tax credit is applied to the amount you paid in taxes. A deduction reduced your taxable income. A tax credit does not reduce your taxable income.

Tax credits allow people who had no money taken out of they paycheck, to get "other people's money," or get more money back than they paid in.

[Wild Cobra]

Pretty ing good tbh

Leech...

[kamikazi_player]

I thought this thread is about how much you're getting back/paying for taxes this year, not whine and about tax credits like a re ed republican.

Anyways I'm getting 1100, but I'm going to actually save it.

[DUNCANownsKOBE]

Tax credits allow people who had no money taken out of they paycheck, to get "other people's money," or get more money back than they paid in.

There are refundable and non-refundable tax credits. Child and dependent care tax credits (the ones you're ing about in this thread before you try to say you were complaining about something else) are non-refundable tax credits, so they can't be taken in excess of taxes due/amount withheld.

Now I guess everyone in this thread knows Glenn Beck teaches his viewers that child tax credits enable to people to get back more than they paid in.

[Sportcamper]

I make this statement every year -- unless you are getting money back due to credits (such as EIC), you should not be celebrating paying in too much all year and letting the government have your money interest free during the year while you pay in too much.

I agree with you…However in states like CA where they tax the heck out of you it is better to claim less deductions on the W2 form so you don’t have to write a check the CA Franchise Tax board…

I will give the Feds & State credit…This year they both applied my refund to my checking account in only four days…

[resistanze]

There are refundable and non-refundable tax credits. Child and dependent care tax credits (the ones you're ing about in this thread before you try to say you were complaining about something else) are non-refundable tax credits, so they can't be taken in excess of taxes due/amount withheld.

Now I guess everyone in this thread knows Glenn Beck teaches his viewers that child tax credits enable to people to get back more than they paid in.

You're trying to educate a man who asked how much a Canadian is taking out of his American pocket with his Canadian tax return. Good luck.

[Sportcamper]

There are refundable and non-refundable tax credits. Child and dependent care tax credits (the ones you're ing about in this thread before you try to say you were complaining about something else) are non-refundable tax credits, so they can't be taken in excess of taxes due/amount withheld

Responsible parents are the salt of the earth…If I were King…I would double the dependent deduction/credit like the Feds did in 2009…I would also implement a 10k tax credit for the purchase of a new American car and a 5k tax credit for the purchase of a new Harley Davidson motorcycle…

[DUNCANownsKOBE]

You're trying to educate a man who asked how much a Canadian is taking out of his American pocket with his Canadian tax return. Good luck.

It's a bad habit. I have a hard time passing up the opportunity to make fun of a tea bagger for some really ignorant and flat out false comment about how America's tax code works.

[resistanze]

It's a bad habit. I have a hard time passing up the opportunity to make fun of a tea bagger for some really ignorant and flat out false comment about how America's tax code works.

It's funny because the next post is going to be how you misconstrued what he said and then it's basically a game of tag.

[DUNCANownsKOBE]

It's funny because the next post is going to be how you misconstrued what he said and then it's basically a game of tag.

I tried to plan ahead for that with the (don't pretend to say you were whining about something else) part. When you take away the first way he planned on arguing semantics, it's always funny seeing how desparate his plan B is.

[DUNCANownsKOBE]

double post

[Wild Cobra]

There are refundable and non-refundable tax credits. Child and dependent care tax credits (the ones you're ing about in this thread before you try to say you were complaining about something else) are non-refundable tax credits, so they can't be taken in excess of taxes due/amount withheld.

Now I guess everyone in this thread knows Glenn Beck teaches his viewers that child tax credits enable to people to get back more than they paid in.

WTF are you talking about? Now I agree not all called "credits" add to your effective tax paid.

From the 1040A instructions:

Line 39
Additional Child Tax Credit
What Is the Additional Child Tax Credit?
This credit is for certain people who have at least one qualifying
child as defined in the instructions for line 6c. The additional
child tax credit may give you a refund even if you do not
owe any tax.

And we all know about earned income credit.

[Wild Cobra]

Earned income credit can be as much as $3,891 for 2012. ing outrageous.

[DUNCANownsKOBE]

the earned income credit is for dirt poor people so they don't lose money by working instead of being on welfare. It gives people incentive to work so people like you who complain about "takers!" should be a fan.

If you think being dirt poor and relying on the EITC is such an easy teet sucking lifestyle, you're welcome to try it.

[Wild Cobra]

the earned income credit is for dirt poor people so they don't lose money by working instead of being on welfare. It gives people incentive to work so people like you who complain about "takers!" should be a fan.

If you think being dirt poor and relying on the EITC is such an easy teet sucking lifestyle, you're welcome to try it.

First of all, EIC shouldn't exist.

That $3891 is for someone making as much as $22,300 adjusted gross. Now I agree it is difficult to have a decent life on that type of money, it just isn't right. The program doesn't distinguish by need or merit, but by the tax form. People who live in section 8 housing vs. someone paying the full rent out of their own pocket gets treated equally for example. Section 8 is already subsidizing the family with up to $26,400 annually.

As for thinking "such an easy teet sucking lifestyle..." Who's fault is it they they have children and don't make enough money?

Now before you go on with those who have lost a good job, keep in mind, I have always advocated out welfare system as being an insurance type measure. Not a lifestyle, except for the disabled and elderly.

Can't raise a family on your wages? Don't have kids!

[GoodOdor]

First of all, EIC shouldn't exist.

That $3891 is for someone making as much as $22,300 adjusted gross. Now I agree it is difficult to have a decent life on that type of money, it just isn't right. The program doesn't distinguish by need or merit, but by the tax form. People who live in section 8 housing vs. someone paying the full rent out of their own pocket gets treated equally for example. Section 8 is already subsidizing the family with up to $26,400 annually.

As for thinking "such an easy teet sucking lifestyle..." Who's fault is it they they have children and don't make enough money?

Now before you go on with those who have lost a good job, keep in mind, I have always advocated out welfare system as being an insurance type measure. Not a lifestyle, except for the disabled and elderly.

Can't raise a family on your wages? Don't have kids!

Your mother was dependent on welfare, remember? she definitely shouldn't have had you...

[spursncowboys]

Well, in honesty, I can't blame people who take advantage of what they are allowed. I want to see the system changed though, and let people know the money doesn't come out of thin air.

It kind of does

[Wild Cobra]

Your mother was dependent on welfare, remember? she definitely shouldn't have had you...

Liar.

She was never "dependent" on it. She took food stamps for a few months when my parents got divorced, then found employment. Used the safety net as intended.

End of story.

[Wild Cobra]

It kind of does

LOL...

OK, in some ways it does.

[Trainwreck2100]

Last year (2011) capital one filed what amounts a fraudulent 1099 on me for 2 gs. They did it December 31 and I wasn't the only one. So feel free to be mad them conservatives

[Spur|n|Austin]

Has anyone here ever been audited?