I just figured out how much I'll be getting back from Taxes...

[9877donna]

It's really,really sad too. I made less than $14,000 this year and I'm only getting back $8 from State and $251 from Federal.No wonder the Trustee wasn't interested in my tax return. That would not even be enough for his cut.
I need to start having my employer take out more each paycheck for Federal and State.But with the little bit I make I don't know if I can afford to do that.
Even last year I got back a little over $400.This is awful.
Donna

[BassBoy]

Keep it for yourself

What I would tell you donna is.....KEEP YOUR FRN's in your pocket. It's more use to you there.

[saucey]

Hi Donna! Sorry to hear that. Look on the bright side, at least you dont owe any money. If I ever hit it big I will keep you in mind!

[9877donna]

What I would tell you donna is.....KEEP YOUR FRN's in your pocket. It's more use to you there.

Yeah I think you right BassBoy.
Thanks.Donna

[9877donna]

Yes and I should be more appreciative of that too!

Hi Donna! Sorry to hear that. Look on the bright side, at least you dont owe any money. If I ever hit it big I will keep you in mind!

Hi saucey,Yes I should be more grateful that I was able to discharge quite a big amount of debt thru Bk.It's helped me out a great deal.I was just hoping for a little more than that for a tax return.
And saucey if I ever hit it big the first thing I'll do is let you know you have a windfall coming your way!
Thanks.
Donna
PS>I certainly hope one of us hit it soon!

[SinkingFast]

The Trustee is holding the Close of our BK until he sees our Income Tax returns for '06.

I did a quick, dirty run thru on Turbo Tax using the last paystubs of the year. Dunno why, but W-2's are always slightly different for some reason.

But anyway, if the first run through holds up, we'll get a whopping $36 back on the Federal.

I haven't run the State yet. Don't wanna have to change too many numbers if the W-2 is different from the final paystub.

[9877donna]

Oooh.That's not good!

The Trustee is holding the Close of our BK until he sees our Income Tax returns for '06.

I did a quick, dirty run thru on Turbo Tax using the last paystubs of the year. Dunno why, but W-2's are always slightly different for some reason.

But anyway, if the first run through holds up, we'll get a whopping $36 back on the Federal.

I haven't run the State yet. Don't wanna have to change too many numbers if the W-2 is different from the final paystub.

Gee SinkingFast that's worse than mine! Did you set your deductions up so that your tax return would be that low?Or is it always that low? How did it come out so low? Did you finnagle it so the Trustee would not want it?
Donna

[SinkingFast]

Gee SinkingFast that's worse than mine! Did you set your deductions up so that your tax return would be that low?Or is it always that low? How did it come out so low? Did you finnagle it so the Trustee would not want it?
Donna

Yepper!! Our attny told us to do it.

On the way in to our 341, I tried to give our attny Hubby's most current paystubs but the attny said he didn't need them. Then the Trustee said what he said about wanting to see our taxes in the Spring.

On the way out of the 341, the attny asked to look at Hubby's paystubs for a minute. Then the attny told us to up our Exemptions as high as we could.

Our attny pointed to the Federal Income tax being withheld and said, "You wanna get that as close to Zero as possible for the rest of the Year. Better for you to have it in your pocket now than to hand it over to the Trustee in the Spring."

We were actually shooting for a low refund. As low as possible. And it's looking like it worked.

[9877donna]

Boy was that 'Fixed'....

Yepper!! Our attny told us to do it.

On the way in to our 341, I tried to give our attny Hubby's most current paystubs but the attny said he didn't need them. Then the Trustee said what he said about wanting to see our taxes in the Spring.

On the way out of the 341, the attny asked to look at Hubby's paystubs for a minute. Then the attny told us to up our Exemptions as high as we could.

Our attny pointed to the Federal Income tax being withheld and said, "You wanna get that as close to Zero as possible for the rest of the Year. Better for you to have it in your pocket now than to hand it over to the Trustee in the Spring."

We were actually shooting for a low refund. As low as possible. And it's looking like it worked.

It sure did work SinkingFast! Congrats! Better more money in your pocket than the Trustees.
Dam your good!
Donna

[mia111]

hi, we figured my taxes out on internet and our refund is estimated to be $5,047
but at the 341 meeting the trustee said we could only keep $1,500,
but on the way out our lawyer told us if we needed more to let him know
and he could get us more for bills etc,
my question is how much more,and how do I go about letting
my attoney know we are going to need more than $1,500
should we tell him now,because my husband is the only one working with
three children,whom I homeschool and believe me we need more for bills,mortgage,school expenses,and we need a car because ours got repoed.So please don't think we just want more just for ourselves.
We filed jointly in Ohio,thanks all God bless


p.s. also how do you file in chapter 13, can you still go to places like hr block

[lrprn]

If you'd like to do what SF did, here's a link to the IRS Withholdings Calculation worksheet - http://www.irs.gov/pub/irs-pdf/p919.pdf . You can work some of that same "keep your money for your own use!" magic on your income for this year too!

[SinkingFast]

The IRS has a handy, dandy withholding calculator available online:

http://www.irs.gov/individuals/artic...=96196,00.html

You go thru, punch in some info, and it will tell you what you can anticipate in the way of refund or extra due. This way, you can adjust your tax scenario as needed thruout the year.

[lrprn]

Mia, I deleted the duplicate post to this one that you put under another thread in the Ch 13 forum. You will get better responses when there's just one post like this rather than two duplicate posts in two different forums. Just wanted you to know your other post didn't just disappear - I did it!

[mia111]

Iprn I understand about the post,thanks for letting me know
also to everyone else thanks for the witholding calucluator
I will have to use that this year,but it doeb't help me for 2006 taxes,thanks again

[lilgoose]

Hey All! Just a little bit from our past experience....we used to get back a pretty large sum for federal. Trustee also wanted our taxes this past year. Was told the same thing about the $1500...Atty said that under $2k, they don't normally take any due to the time involved and the amount not worth it. Told us to keep it as low as possible, but not to go too low from the previous years as this COULD pull up a red flag and cause even more problems such as fraud.....Just thought I would share what our atty informed us on...GOOD LUCK to all!!!