Taxes?

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guinnessman

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Anyone know about taxes? I made 52K for 2009 and i just came from HR Block and i'm getting $1400 federal and $450 from State. My buddy just called me and he said that he went to his CPA and he's getting $5000 back from Federal alone???? He made only 40K for 2009 lol.

What the hell am i missing?

Keep in mind that he is Single like me and has no kids like me. I rent apartment $800 month and he lives with his GRANDMOTHER still haha. I just don't see how he could get so much more then i got. He said that you ALWAYS get more when you go to a CPA versus HR Block etc. Can anyone explain?

Sorry bout this being a bit OT but i know many of you guys are MUCH more knowledgeable then myself and maybe you can give me some insight.:cool:
 
does he have his grandma as a dependent? lol, you never know........

i make $30K-ish, 24, single, living at home.............ive always gotten around $1,000 total, federal/state combined................ive always gone to HR
 
The number of exemptions you claim changes the amount of taxes withheld. That could be part of the difference.
I make in the ball park of the OP and get more than that back. I'm also a home owner.
 
I depends on dependents claimed and how much your employer over-paid to federal and state - which is relative to dependents claimed.

In a normal situation one would get nothing back and owe nothing. All your getting back is was was "accidentally" over-paid to the governments, its not technically based on how much you made.

Case in point, I made about 120k but I am getting nothing back.
 
could be the whole claiming 1 or 0 when you fill out your app...meaning getting more in your paycheck / getting less on you tax return.
 
i just had mine done, me and my wife just got back from my friends office, but i am head of household and my wife is a home maker, 2 kids, i only made 25k this year and i am getting back $7,089 i nearly :q:q:q:q myself in his office chair. i was all worried about buying my new 97 lsc that i was gonna end up dipping into rent money, :q:q:q:q me not no more time to party!!!!!!!!!!!!!!!!!!!!
 
Lol thanks guys. Just spoke to him he also goes to college so he said he had more deductions or some bs.

Also i don't get that much taxes taken out of my bi weekly checks, that could be why i didn't get that much back.
 
Our income is going to be over 6 figures for the first time but I have a feeling that my wife's job took out way less tax than mine did and I will get stuck with nothing. On top of that, I had a $4400 bonus that was added to my pay stub that I still haven't gotten, and no one has told me where it went yet. Until that is settled, I won't file. Next year might be worse, I am scheduled to make about $10,000 more this year than last but it is being cancelled out by my wife's student loans coming due.
 
Well lets see last year I made $10k and have roughly $26k in loan debt... so yes I will take that trade...
 
The tax is based upon what you have left over after all your deductions, lIke what you gave to a church, what you maybe donated to clothing drives, If you paid anything for your job, If you had to move for a job. Check what you with held if your claiming 1 or 0. You make more so you pay more different bracket I am sure. Get married, have some kids, Start a buisness any....then you can write off a car, a computer, internet service, electric, phone service, cell phone service, Pens paper
 
I bet your friend claimed his grandma as a dependent so made him head of household with a nice deduction that could be the only diffrence
 
jona571 said:
I bet your friend claimed his grandma as a dependent so made him head of household with a nice deduction that could be the only diffrence
Click to expand...

I don't know, because I've claimed the gf as a dependent before and she was only worth a grand. I should've kept her on the street corner.

However my child is worth 4k as a dependent.

An old lady wouldn't be worth the same as a kid, I don't think.
 
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