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Home > Have no clue how our tax refund is so big...

Have no clue how our tax refund is so big...

March 17th, 2009 at 10:57 pm

So I thought after our GIANT tax refund we got last year that I managed to adjust my withholdings so that I would get just a very small refund (like $200 or something) as like a pillow to make sure I didn't owe.

We went to do our taxes today. Last year we went to stupid H & R Block and paid like $250 or some INSANE amount to get them done. I do NOT trust myself to do my own taxes, NO WAY, so I have to pay someone to do it. Just not that much. My friend referred me to a place and I went there and it was only $60 : ) Plus the tax lady was just awesome.

Well, with state and federal we're getting back like $4100!! AHHHH!! I really thought we'd get like $500 back tops and almost fell out of my chair when she told us how much we were getting back. I would have rather had the money throughout the year and have no idea how we're getting so much back. I asked her if she was sure and she said yes and went over everything with me.

So I guess I'll be able to get current on bills, pay the little piddly cc's off that we owe a few hundred or whatever on, AND once again have the $1000 emergency fund. So yay!

Posted in Uncategorized | 5 Comments »

5 Responses to “Have no clue how our tax refund is so big...”

  1. Broken Arrow Says:
    March 17th, 2009 at 11:03 pm 1237331016
    1237331016

    Hehehe, and let that be a lesson to you, young lady. Big Grin

  2. creditcardfree Says:
    March 18th, 2009 at 12:15 am 1237335355
    1237335355

    Was most of it state or federal? How many are you claiming on your W4's? Could the tax lady give you an idea of how much to have withheld, so eliminate the large refund? Also, do a run through on the tax calculator on irs.gov. I can't get ours lower either...child tax credit and high state taxes. We got $1900 back between state and federal.

  3. nomorecredit Says:
    March 18th, 2009 at 12:17 am 1237335421
    1237335421

    What's that lesson, when I'm in trouble the gov't will give me money to fix things?? Big Grin

  4. disneysteve Says:
    March 18th, 2009 at 01:47 am 1237340844
    1237340844

    Same thing happened to us. I will discuss it with our accountant after tax season. I think what happened is that normally we have a fair amount of capital gains to pay taxes on and this year, of course, there was very little in that department.

    Accountant also said that too much is being withheld by the state, so we need to adjust that.

  5. Broken Arrow Says:
    March 18th, 2009 at 12:32 pm 1237379559
    1237379559

    Haha, just teasing. I kind of wish I had that problem though. I had to pay the government back $85. I know that's a good thing, but it sure didn't feel like it when I was writing the check to pay it off....

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