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Preliminary Taxes

January 29th, 2011 at 08:10 pm

Well, I figured my taxes today and am really upset. It appears that I won't be getting refund. In fact I owe $46 to federal and $236 to state. I am really disappointed. Apparently once a child turns 17 you no longer get the child credit. And I apparently made so much money that I only got $400 for the EIC. I don't understand now I can make as much money as I do and I am always broke. I don't have any money in savings and I am struggling to pay my bills. In fact I haven't paid rent or power in a couple of months. My parents are paying it. I just don't get it. I don't live extravagently. I don't have all new things. I think I spend my money wisely lately. I just don't understand.

1 Responses to “Preliminary Taxes”

  1. creditcardfree Says:

    Paying the government is a good thing. If you get a refund, it simply means that you didn't loan the government any of your money!!

    Didn't you apply for the advanced earned income tax credit? If you were getting it throughout this past year, then it would be lower when you file. You might have also adjusted your withholding. I'm not sure if you did any of this...but I remember suggesting some changes, so that you could get more money in your paycheck.

    You might start tracking every penny of your spending to see where your money does go. At the end of the month or pay period, figure out what percentage of your net check is going to each type of item. It might bring some insight into where you spend your money and how much of your paycheck it is.

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