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Bridgetown Botanicals Shop: Bridgetown Botanicals

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InvisibleLayYouIn
Taurus
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Registered: 09/28/06
Posts: 4,402
Loc: Organ
Getting My Tax Money Back
    #7929728 - 01/25/08 01:03 PM (16 years, 7 days ago)

how can i get more money back from them? last year i claimed claimed only 1. i worked three jobs and have only gotten one W2 form. i live with my dad, dont pay rent.

i know people that make the same amount as me that are getting a whole lot more back and i want to know how.

how do i?


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InvisibleVeritas
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Registered: 04/15/05
Posts: 11,089
Re: Getting My Tax Money Back [Re: LayYouIn]
    #7929812 - 01/25/08 01:24 PM (16 years, 7 days ago)

If they earn the same amount as you do & are getting bigger refunds, either they:

1.  Owe less
2.  Had more withheld from their pay

It's as simple as that.  Perhaps they are contributing to IRA's & reducing their taxable income, perhaps they have tax credits to which you are not entitled.  Perhaps you are making mistakes on your tax returns. :shrug:

I don't recommend having more withheld, as it amounts to giving the government an interest free loan.  Many people make the mistake of over-withholding, and then act thrilled when they get their big refund the next year.  If they had put that $ in an online savings account, they could have earned 5% on it all year.  :crazy:


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