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How do people get large amounts for tax refunds?...
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You are currently reading a thread in /pol/ - Politically Incorrect

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How do people get large amounts for tax refunds? I have a decent job and the last 2 years I ended up owing rather than getting a couple thousand like others. Even when I did get money back the most I ever got was $300. What am I doing wrong?
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Woman detected.
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>>61036204
I'm not American, but I presume that tax refunds are based on tax write-offs and business expenses. Maybe you're not filing business expense properly.
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>>61036204
You're likely doing nothing wrong. We probably don't know enough about your personal situation to really comment accurately.

You want to receive as close to $0 as possible, preferably on the owing side versus being owed. You're basically giving the government an interest free loan if you're getting a tax refund.

Itemized deductions or other tax write-offs could potentially get you a refund, but for most people just claiming the standard deduction is going to come out ahead.
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>>61036611
Wrong. Its just something I never understood how some of my coworkers are expecting $1500+ with no wife,kids,property,etc.
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>>61037153

Shut up fuc boi
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>>61036204

You don't own real estate.
>mortgage interest tax deduction you fucktard
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>>61036204
Withholding exemptions, deductions. Google that shit. Also, it is better to owe. Otherwise you are just loaning the government money at zero interest all year.
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Set W4 to 0

Also, Sch A employee x
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>>61036204

People who get back a lot usually do because they don't take any deductions and pay the maximum amount of taxes out of their checks.

They essentially overpay out of every check and then get a large lump sum back on tax day because of it. Either that or they have a lot of legitimate deductions and file their taxes properly and get $$$$$ back (yeah fucking right lol)
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>>61036204
How many deductibles do you allow for?
The more you let get taken out of every pay directly equates to the more refund you get.
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>>61036204

ideally you don't want a large tax return, because that means the government has been holding your money interest free
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>being a fucboi and not claiming "1" on your W2

yeah you get a smaller refund but they only take 14% of your income off your paychecks

also, yes i am expecting a 700 dollar refund, and it's going to pay off some debt and the rest of it is going into a savings account
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Jesus Christ as someone who is becoming a tax accountant this whole thread is just making me depressed how many of you fuckers think taxes work.

Most people that get refunds get refunds because they overestimated their quarterly payments or they had too much withheld.

>write-offs and business expenses

This is absolutely retarded, you have to own a business in the first place to even be able to have these and marking down expenses just goes towards your gross income from that business, not really something that causes you to get a refund

>Itemized deductions or other tax write-offs could potentially get you a refund, but for most people just claiming the standard deduction is going to come out ahead

Nigga da faq? The only way you would ever take itemized deductions is if they were over the standard deduction, no one ever itemizes if their standard is higher. It's more beneficial to have itemized deductions higher but that also means you incurred costs in the first place to be itemized so it doesn't really help out too much especially with some limitations.

>mortgage interest tax deduction you fucktard

K
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I get all my taxes back because I work a low wage retail job and pay for school, so I qualify for education credits.

Upper middle class goyim pay taxes so I don't have to. Feels good man.
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>>61040020
Also a big thing is credits but most people don't apply for most credits unless they make a small amount of money and meet the other qualifications for them.
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>>61036204
Kids
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>>61036204
>not filing zero
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>>61036204
Getting a tax refund means you gave an interest free loan to the government. Not getting a sizeable return is a GOOD thing. It means you didn't pay too much earlier. Of course this is assuming you are getting the maximum deductions you can. It may also be possible your friends are getting more deductions than you.
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>>61036204
Refunds are advance loans from the government. Don't be fooled. Also, people who are able to get large deductions who aren't actually poor most likely wrote off all expenses as business-related, which is what I do in order to escape the 25% shit-tier bracket.
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>>61040020
I've been getting refunds working maybe four months out of the year since I was old enough to work. I only missed a refund last year 'cause some cheeky Jews thought it'd be funny to give me my inheritance on the last day of the year, so I had to claim it and owed money.
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>>61040020
You're also trying pretty hard there, guy: https://turbotax.intuit.com/tax-tools/tax-tips/Tax-Deductions-and-Credits/Employees-Can-Deduct-Workplace-Expenses/INF13505.html
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How fucked am I? I always get fucked and never get any money back and I pay in taxes what a full time mcburger makes a year.
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>>61042418
I am in the same boat you are. Make gross $77K/year and falling right into that shit-tier bracket. Good luck filing and itemizing.
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>>61042418
>>61042758
desu my accountant says you want to get as close to 0 bucks back as possible since that means you did not cock up and overpay
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>>61041849
Wow linking turbo tax and talking about measly employee deductions that are itemized, you sure showed me Mr. Tax expert.
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>>61020049
>not claiming 2 exemptions for net zero tax return
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>>61040813
this.

used to only get a couple hundred at a time, then i got married and got a kid in my life and my tax returns came out at 3k+
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>>61037064
>thread
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>>61036204
>Tax accountant reporting in

What are you using for writ offs?
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>>61044259
>be single
>dont use public school system
>have to pay for public schools
>people with kids get free money even though they use more services
kill me please
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>>61043709
>tax expert
never said I was. I still get max refunds each year deal with it faggot :^)

cheap CPAs are all over the place nowadays so don't sit so high and mighty there.
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I sold my home this year and I'm expecting to pay a couple thousand in taxes this year. Hold me.
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>>61045986
>I still get max refunds each year

Lol

>cheap CPAs are all over the place nowadays so don't sit so high and mighty there

Nigger doing your own taxes is so easy and it's actually free, I can't believe you waste money to even do it.
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So what's a good company to get my taxes done at? I usually do it with some old lady but she's probably senile this year and might get my shit done wrong.
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>>61046451
>Nigger doing your own taxes is so easy and it's actually free, I can't believe you waste money to even do it

have fun when the IRS decides to fuck you over and perform an Audit, when you pay a CPA, they can defend you if that happens
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>>61046797
If your taxes are relatively simple than doing them yourself is the easiest, the IRS provides all the tax forms and instructions on their website for free. If you want someone else to do it though just look for cheap anyone, taxes for individuals are relatively easy.
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>>61046859
the IRS has been systematically underfunded for the past 5 years
they can't afford to audit unless they are sure of a big win, i seriously doubt anyone who posts on /r9k/ is cheating enough on their taxes to actually merit an audit
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>>61047003
Yeah it's just me and I don't claim any credits
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>>61046859
If you do them right and they do an audit then nothing will happen anyways dumbshit. You can "defend" yourself.
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If your company gives bonuses or your income comes in random bursts of cash you can end up paying too much in taxes due to the way withholding is calculated.

I'm going to get a decent amount back due to large company bonuses as well as the fact that I am going to claim some tuition expenses.
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>>61047109
Do you have any investments, own a business, or own a home? Once you start having those things it gets more complicated so it might just be easier to have someone else do it for you but if you basically just have to do taxes based off your job and that's it then its extremely simple, they provide all the instructions right on their website. Or if you want to waste $50 you can get something like turbo tax that will hold your hand through what you can figure out yourself.
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>>61047131


they did with me

i only make 5,000 last year before i was in an out of temp jobs, and said temp agency fired me because i showed up drunk to a job site multiple times

fuckers
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>>61040050

You stock my shit at walmart. Feels good man
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>>61047312
You got audited because you're a retarded drunk? What are you even talking about? Did you just not pay taxes?
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>>61036204

kids
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>>61047375

not audited, i just don't get anything back

didn't owe anything

and didn';t get anything back
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>>61036204
you need to own a home and have kids to actually get a refund
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>>61047439
Then why did you even talk about auditing. You didn't get anything back or owe anything more because your income was less than $6,500.
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>>61047623

because i keep losing jobs and relegated to part-time shit-pay jobs
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I'm a marine. I got 700 or so last year. How do I get more?
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>>61036204

Don't know how your system works, but I am terrible at saving. So, I've gotten the accountent lady at work to do so that I pay US $ 150 pr month to much in taxes.

When the yearly review comes up, I get US $ 1800 back from this.

We also get money back on interest on houses and such, so after splitting that with the wife (since we have a 50/50 household) I'm looking at maybe US $ 3k.

Oh, and everything here in Norway, for the normal tax-payer, is automatic and online. Since it's 2016 and all.
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>>61036204
>How do people get large amounts for tax refunds?
File your taxes as an illegal alien.
Claim 15 kids living in Mexico as dependents.
Collect your $30k check from Obama.

No joke, look it up.
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>>61047910
Can I do this? I am 100% American, lived here all my life, have resience here all my life. I am also a marine. Can I still pull it off?
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why do i keep getting fired?
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>>61036204
Reminder if you follow the 1040 instructions and take 2 exemptions this is what you're asking for.
Take 1 or none to defer gratification.
Thread replies: 63
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