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Tax Refund

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Old 03-10-2006, 10:11 AM
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Originally Posted by PsychoBen,Mar 10 2006, 01:53 PM
Almost 6 years ago, I bought my S exactly I week after I bought my condo. Holy income:debt ratio batman!
Yup.....Erin and I signed papers for our house, S2000 and Touareg all on the same day. My hand hurt.
Old 03-10-2006, 05:25 PM
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Originally Posted by Cubs2k,Mar 10 2006, 11:11 AM
Yup.....Erin and I signed papers for our house, S2000 and Touareg all on the same day. My hand hurt.
Talk about adding to your montly payments!
Old 03-10-2006, 05:27 PM
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I bought my S 1 week to the day I signed papers on my house.

Closing in on 3 years later I am on my 2nd house, but I still have the S.
Old 03-11-2006, 05:20 AM
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Since we have our house tax experts here, may I ask a tax question as well?

Last year my wife and I ended up owing 7K in taxes. Our accountant told us we need to make changes to our W-4's to fix the "problem". So, we made the changes he suggested. This year we still owe 5K and I don't know what we are doing wrong?

I have a feeling our W-4s are screwwed up. We don't have kids or any other dependant, what should our W-4s look like?

Thanks!

Old 03-11-2006, 05:33 AM
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Ashan did you collect any of those years? that could be killing your tax rate
Old 03-11-2006, 05:41 AM
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Originally Posted by Bass,Mar 11 2006, 09:33 AM
Ashan did you collect any of those years? that could be killing your tax rate
Collect unemployment? No.
Old 03-11-2006, 06:05 AM
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Originally Posted by mas,Mar 11 2006, 09:20 AM
Since we have our house tax experts here, may I ask a tax question as well?

Last year my wife and I ended up owing 7K in taxes. Our accountant told us we need to make changes to our W-4's to fix the "problem". So, we made the changes he suggested. This year we still owe 5K and I don't know what we are doing wrong?

I have a feeling our W-4s are screwwed up. We don't have kids or any other dependant, what should our W-4s look like?

Thanks!

Do you or your wife work part time? Either of you self-employed? Rent or own?

W-4

I think I claimed 2, but I'm a home owner and it is a BIG deduction. You may want to do the full worksheet.
Old 03-11-2006, 06:22 AM
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Originally Posted by Cubs2k,Mar 11 2006, 10:05 AM
Do you or your wife work part time? Either of you self-employed? Rent or own?

W-4

I think I claimed 2, but I'm a home owner and it is a BIG deduction. You may want to do the full worksheet.
Thanks! We both work full time and rent.

I will have a look at the worksheet again but if anyone else here is in a similar situation I would like to compare the W-4s.
Old 03-11-2006, 06:53 AM
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Ok, I "think" I got it, if not please let me know.

No deductions on both W-4s and then extra money (based on incomes) to be withheld each pay cycle from the highest paying job.
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