Say what??????

[wvjules]

I just did a quick run through of my taxes based on my last check stub. The days of large refunds are gone. I no longer qualify for EIC so my refund is only about $500. (Atleast I don't have to pay, right?) So I move on to state taxes. According to TurboTax. I owe the great state of Maryland almost $1000!!!!!!!!! Somehow I think I get back all, or most, of my WV taxes paid so that will help out. I think I'll wait until April 15 to file MD taxes.

 

[Faerie]

Thank goodness for no state income tax.

 

[Makdyn]

last year was first year without EIC.

 

[kejoda]

Were hoping for a bigger one this year since Bryan arrivied. At least hoping we don't have to pay state this year

Tim's last paystub had all his hours from 2007 but the paycheck was added to this years pay. Haven't heard if that is wrong yet, still waiting to hear back from the payroll dept.

 

[Kathi OD]

I will owe the state of NJ everything I get back from the feds and then some. I mail my money to them on 4/15. I figure I get 2 more days interest that way - not much, but better for me than for them.

 

[Kathi OD]

Were hoping for a bigger one this year since Bryan arrivied. At least hoping we don't have to pay state this year

Tim's last paystub had all his hours from 2007 but the paycheck was added to this years pay. Haven't heard if that is wrong yet, still waiting to hear back from the payroll dept.

It goes by the date on the check, not when you work. So if he got the check for those 2007 hours after Jan. 1, it counts for 2008's taxes, not 2007.
You should make out better with the addition of your little one! All of our are now grown and oman! talk about a rude awakening!

 

[shirleyb]

I just did a quick run through of my taxes based on my last check stub. The days of large refunds are gone. I no longer qualify for EIC so my refund is only about $500. (Atleast I don't have to pay, right?) So I move on to state taxes. According to TurboTax. I owe the great state of Maryland almost $1000!!!!!!!!! Somehow I think I get back all, or most, of my WV taxes paid so that will help out. I think I'll wait until April 15 to file MD taxes.

Congratulations, that must mean you're making more money!

I remember though, one year when we OWED $3500 what a shocker that was. Ouch.

 

[Lintasare]

I do low income tax preparation through the local CC so I am waiting for my W-2s and my 1099-INTs before I figure out mine.

A friend of mine works for the Federal government and they don't take out state taxes from their pay so basically whatever he gets back from his federal return goes to pay the state.

 

[kejoda]

It goes by the date on the check, not when you work. So if he got the check for those 2007 hours after Jan. 1, it counts for 2008's taxes, not 2007.
You should make out better with the addition of your little one! All of our are now grown and oman! talk about a rude awakening!

I had no idea. Thanks Kathy. Just seems to me that you should pay the taxes in the year you earned it but thats government for you.

 

[Dr Pepsi]

I'm assuming you moved states during the year.

I'd just say to be very careful. I moved states one year and the tax software I was using was counting my entire year's income for BOTH states. I'm honestly not sure how it happened. I double checked and everything was entered correctly. I ended up doing my state return via paper.

 

[AllyandJack]

Will they use your other state taxes to off-set the amount owed? I would have passed out.

I have to pay an AMT, but I still end up getting some back when it's all said and done. Ah, well.

 

[va32h]

No state income tax here (God Bless Texas!)

But, I have a side job for which I receive a 1099, no witholding and that's gonna hurt.

 

[sweet angel]

I'm pretty scared. I was on unemployment for 6 months without having taxes withheld because I would've have been able to pay my bills. The remaining 6 months salary may not cover, but I'm hopeful that it's not TOO bad. I file as head of household, and I have a son...

 

[Aimeedyan]

I can't imagine this year being any worse than last year. We owed $4k last year - completely unexpected.

We've been making quarterly payments this year so I HOPE and pray that we break even. I've been stocking away $ into ING just in case we get hit, but I'd rather break even and go on.

Thank goodness we don't have to mess with state, though. And we have a great acct to help us decode things.

 

[Cheshire Figment]

I just did a quick run through of my taxes based on my last check stub. The days of large refunds are gone. I no longer qualify for EIC so my refund is only about $500. (At least I don't have to pay, right?) So I move on to state taxes. According to TurboTax. I owe the great state of Maryland almost $1000!!!!!!!!! Somehow I think I get back all, or most, of my WV taxes paid so that will help out. I think I'll wait until April 15 to file MD taxes.

If you changed states during the year I would suggest that you get professional help; even if it is just going to a place like Jackson Hewitt. Unless you really now what you are doing, a split-state return can be very complicated.

Will they use your other state taxes to off-set the amount owed? I would have passed out.

I have to pay an AMT, but I still end up getting some back when it's all said and done. Ah, well.

Two parts to you -

Each state stands on its own. However, if you owe one state and are due a refund from the other, it is best to file for the refund as soon as possible to have the cash on hand to pay the one which is owed.

Are you aware that Congress did pass a temporary repair for the AMT. However, many of the tax programs have not yet updated their software, and IRS will not process returns that have any of five forms which are affected by AMT until after February 11th, which is when they expect their systems to be tested and ready.

 

[wvjules]

If you changed states during the year I would suggest that you get professional help; even if it is just going to a place like Jackson Hewitt. Unless you really now what you are doing, a split-state return can be very complicated.

Two parts to you -

Each state stands on its own. However, if you owe one state and are due a refund from the other, it is best to file for the refund as soon as possible to have the cash on hand to pay the one which is owed.

Oh, I'm getting professional help. I usually do them on my own but since there are two states involved this time, my mother is going to do them. (She's an accountant.)

Congratulations, that must mean you're making more money!
[quote/]

Yes I'm making more money now but the cost of living here kinda takes the joy out of that. lol

I'll be happy if I break even this year with income taxes.

 

[wvjules]

If you changed states during the year I would suggest that you get professional help; even if it is just going to a place like Jackson Hewitt. Unless you really now what you are doing, a split-state return can be very complicated.

Two parts to you -

Each state stands on its own. However, if you owe one state and are due a refund from the other, it is best to file for the refund as soon as possible to have the cash on hand to pay the one which is owed.

Oh, I'm getting professional help. I usually do them on my own but since there are two states involved this time, my mother is going to do them. (She's an accountant.)

Congratulations, that must mean you're making more money!
[quote/]

Yes I'm making more money now but the cost of living here kinda takes the joy out of that. lol

I'll be happy if I break even this year with income taxes.

 

[CheshireVal]

I did some figuring, too, and we're going to owe Federal about $2400 this year. We owed $1800 last year, so we adjusted our withholdings to 0, and now we owe more.

I can't figure out what's going on, other than the fact that we're married, both work, and don't have kids. We are not rich, though. In fact, we are kind of struggling-- even more so now that we're trying to figure out how to pay this!!

 

[jen0610]

If you changed states during the year I would suggest that you get professional help; even if it is just going to a place like Jackson Hewitt. Unless you really now what you are doing, a split-state return can be very complicated.

Been there, done that. The first year we were married, I had 3 different state taxes to do. DH was stationed in NY, I was still in IN working. Once he got quarters, I went to NY and worked. Army transfered us to AL in Oct and once there, I went to work. So for the year 1992, I had to file IN, NY, and AL state taxes. And we had always just done our taxes on our own, but I took one look at the forms - credit for this, percentage of that - and we took everything to H&R Block. Left the headaches to them.

 

[grinningghost]

Nothing is worse than the Hell on Earth of New York State taxes. My husband's federal and state deductions were absolutely horrendous this year, and we'll be lucky if we don't have to pay more, much less get a halfway decent refund.

Only 23 years until retirement and the option of getting out of this tax obsessed state.