im 17 and only gettin 170 bucks back from 1900 bucks they took out for taxes last year

i made 12 grand last year and wondering why most of my friends are gettin 2-5 times more money back than me but only made like 5

and im also a full time high school student

 

what did you claim?

 

This is going to get moved.

I spent 70k last year and I'm 19 and a college student. Beat that!!

 

It's not about how much you make, but instead how much you had taken out and what you claimed on your w-2 for deductions. Different income levels puts you into different brackets also. Have somebody go over your tax return and make sure it's right, but if Uncle Sam says you only get $170.00 back, then that's the way it is.

 

Your getting 170 back from 1900 lost and your complaining ????? I wish for those days.

And the reason you 5k friends are getting more back than you could a be a number of things.

First theres a big difference b/n 5k and 12k, and that difference is called tax brackets.

Second the goven't could have taken more from the paychecks then from you.

Uncle Sam didn't take enough from me weekly so I owe. No big deal, I had a higher paycheck the whole year.

 

I will trade your 170.00 for the *****.00 that i owe on the 15th

 

Your friends gave the government an interest-free loan on THEIR money. You are the smarter one--you only loaned them $170! Don't fall into the trap of over-gifting to the government. They use your $$$ and then return some of it. If you had the $170 in an interest-paying account, you would have 'made' $$$, albeit only a little.

A theory I have read say's if you can estimate at the beginning of the year so that you OWE something less than $500, you are ahead of the 'game'(official theft!)

Big returns seem 'nice' but think about it---you are letting someone else use YOUR money--FOR FREE!

Dan

 

lightingrods exactly right. Your friends had taxes deducted but probably didnt earn enough to get taxed period so the govt gave it all back. It works like that esp if you only work the summer i remember.

And cyntaxx, your a wack job man, 70k in? already? I have so many friends in the late 20's killing themselves with the debt they got when they were younger, most of it school loans but still. Good luck with taht and enjoy while you can.

 

***** Welcome to Tax Chat *****

 

the thing is that im 17 and not legal to vote work 40 plus hours a week and go to school 5 days a week from 7am to 230pm

i under stand when im 18, which i am now,but last year i wasn't and can't even vote the bastards out of office or anything

i work my *** off and i get alot taken away from me unlike alot of other people i know got like all their stuff back and don't work their *** off

 

Welcome to the grown up world of taxes. Now is a good time to look at tax defered investments. Start now to begin saving. Once it starts to grow it will grow quickly.

 

Welcome to the real world of gov't !!!

What you were before? A Democrat !!!

What you are when you wake the F up? A Republican !!!

It's all about YOUR money !!!

HEH HEH HEH

/flame suit on!

 

DAMN RIGHT!

/flamesuit on as well

 

Alot of states theres a cap on how much you can make and get it all back. I think it was 6k a year in Wisconsin. So if you make less then 6k, you get all your taxes back. I got lucky this year, I made about 15k this year, and am still getting ~400 back, and I claimed something like 2-3 on my W2.

It gets easier when you are claimed as a dependant as well..

Ya take the good with the bad. Just think, you payed for a sliver of that bunker buster bomb that blew that F'er up over there in Iraq.. If you got it all back, you can't really say that(except the interest they got off of it)

 

It is NOT and IT is NEVER NOT about how much you get back... IT is about HOW MUCH you pay... it always is about how much you pay and it will always be about how much you pay... How much did you pay to the government....considering that the amount I am paying to them is astronomical (to me).. the numbers listed so far seem pretty darned small.... I will be writing my check and giving to the Postmaster on the 15th and not a minute before I have to...
At least I can tell myself that part of my money went to support the troops... wish I could say where I want my money to go when I paid it in, it would be Dept of Defense....

Dana