Tax Return

Ok, this is deffinately a bad day.

I did my taxes last night.... I am not happy. A little background information. I am 16 years old and living with my parents. They can claim me. So when I do my taxes I have to subtract $5000 from my income. I go to high school and work after school, so I only made like $6,800 total.

$6,800-5,000=$1,800

The total return that I am getting is $32!!!!!!!!!!!!

Thanks for listening.

Looks like the GP isnt getting the new hood.

That's about all I ever got back when I was a student.

It wasn't until I bought a house that I started getting big returns. Every year I add another exemption or two, and I still get a return.

At least you don't have to pay...

when i was in high school i had to pay 12 bucks one year! I was .

I have to pay close to $500. And I'm a darn student!! I filed something wrong on my W2 form and I am not happy at all.

When I was in college my buddies claimed there was some way that they would get all of their taxes back because they were students.

My mom did my taxes for me during that time, and I always owed money. I figured she was doing something wrong. Not sure what was going on. Maybe their parents were not claiming them as dependents and mine was?

I don't know. Either way, I used to have to pay too. It sucks.

Got my taxes done. I don't have to pay. But I didn't get quite enough to do what I originally planned. But I did order my fiberglass saddlebags

My tax guy and I screwed up on my 02 taxes. I had 2 W-2's, but he claims he only got one of them. Last year the good old IRS sent me a letter saying that they wanted their money, so last year the IRS kept about 2400 of my return, thinking we weren't going to get anything at all we ended up with about $800.
Kind of a good news/bad news type of thing.
I need to get all of our stuff together and send it to my tax guy so we can get that going.

So i guess this is pretty normal for a 16 year old. I was hoping that I messed up or something.

Well, maybe I can save up enough to get the hood in a few months.

Yea, don't expect much now. When get your house and kids, you can then start rakin in the dough!

This year...we are getting close to $5k, next year, we'll have a new baby, so we will get back even more. A buddy of mine got back 8K this year....

When I was in high school my parents claimed me as a dependent and I still got over $300 back. And when I was a college student I got all my taxes I paid that year back... right down to the penny. ANd that happened for a couple of years. Last year I screwed my taxes up and got only $600 back.... This year I got over $6k.... I love kids! lol.

Taxes were fast this year! I used Tax Cut and filed about 2 weeks ago I think. I got my Federal Return deposited to my checking account today. Should have my state return soon. So nice not doing my taxes at the last minute again.

I'm 21, still living at home while going to college. I got back $143. Last year I owed about $20. It all depends on how you have your paycheck setup for tax deductions and the like. If you set it up wrong, you're either getting money back or paying the IRS later. If you set it up perfectly, you and the Gov't should be even. Think of it this way: You don't get anything back, you had the money throughout the year and larger paychecks compared to those who paid the government too much.

As for school expenses and deductions, if you spend for school over what your financial aid is (if you get any), any of that is deductable: books, gas, housing, you get the idea. My sister gets back $300+ every year just based on books she's bought and keeping the receipts.