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Old 04-14-2012, 05:07 PM   #1
monster
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Oh Noes!

We has to send a check with the State Tax Return for the first time in 11 years!

Fortunately, it's less than the Federal Tax Refund. So we're not out of pocket overall. But we probably couldn't even go out to dinner on the difference.

Of course that's what we aim for, but this is probably the closest to 0 we've ever been.

Next year, they've lowered the income boundary for property tax credit by nearly $40K -which loses us a $1,000 tax credit

UK tax is so much easier to deal with. Higher. But easier.
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Old 04-14-2012, 05:11 PM   #2
DanaC
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Most of my jobs I've payed my tax through PAYE. Much prefer that. Comes out before I get the wage check.
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Old 04-14-2012, 05:24 PM   #3
monster
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right. and it's all done.

Here, they take out money for tax (which you estimate using various worksheets/whatever), but at the end of the year, you have to do a reckoning and compare what you owe with what you paid. And it generally isn't a simple reckoning. There are simple versions available, but most people end up paying more if they use them. And you get penalized if you paid (withheld) below a certain threshhold.
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Old 04-14-2012, 05:32 PM   #4
monster
I hear them call the tide
 
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...for example, this year we opted to claim local sales tax rather than local income tax on our Federal Return, because we bought a new car, so got a bigger tax break that way because we have proof we paid wadges of local sales tax. Last year we got credit for installing an energy efficient patio door, and because there was some weird "making-work-pay" credit. neither of thos apply this year. Last year we paid $9 for online (out-of-state) purchases, this year $29, but better than the default $50.....
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Old 04-14-2012, 07:27 PM   #5
ZenGum
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Makes you fond of the old "one thirde of all thine croppes" days, eh?
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Old 04-14-2012, 07:28 PM   #6
monster
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yebbut I'd tax their e usage......
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