soul2share -> RE: A bigger tax bite (12/19/2010 12:27:38 AM)
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I'm one of those folks the IRS hates. Not only do I have 0 dependents and the single withholding, I also have an extra $50 over the federal and state taxes (not applicable here in FL, they have no state income tax....one reason why I moved here!) withheld out of my paycheck each payday. I started this when GWB Sr was in office and they started fucking around with the tax laws. I don't necessarily do it for a refund, but I don't want to get the tax bill at the end of the year. I have averaged a refund of $1500 Federal, and $800 in whatever state I filed in. I probably won't get that big of one from the federal gov't this year because I only had an extra $50 a month held out due to the way we got paid. Plus, by the time I start my new job (WOOT!), I'll have gotten approximately 10 weeks of unemployment, and I didn't have any taxes withheld.....crap, I only get $275 a week for unemployment benefits.....considering that my basic living expenses total approx $1400 NOT including groceries, I can't afford to lose any of it to taxes. I'm hoping that the standard deduction will help even things out. But it's like found money at the beginning of the year, I use it to get the big ticket items that I normally couldn't afford. This year, it was the downpayment on a car, one year, it was a trip to Mexico.
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