well, I know I am neither rich or very rich..
)
I wanted a couple hundred dollars refund.. that is what I am used to! so
you didn't get way too much withheld but you don't have to send a check
either!
) guess I did need some tweaking. of course next year it will
be very different with Sofia here, rigth? and to think we were
considering buying the house we live in, remember? that would have made
everything a lot more complicated!
Taria wrote:
I don't know a lot about why with holding amounts might change.
The number to compare is how much taxes you pay in total
rather than the amount that you get back or pay by April 15.
You can tweak your withholding so you are paying enough not to
get a bill. Getting a big refund means you had too much withheld
and having to pay means you didn't have enough with held.
We actually paid a little less taxes this year compared to
last with the new tax cuts.
What 'rich' or 'very rich' means is different depending on
which politician is talking. 
Taria
Dr. Quilter wrote:
Obviously I know nothing about taxes. Just got a shock when I did the
calculations for 2003 and noticed for the first time we owe a big
chunk (at least for us, since in the past we always got a couple
hundred bucks back). Remember we rent, we don't get too much interest
from savings accounts, and we have no other income besides 2 postdoc
salaries. This is the second time we filed jointly.
I noticed that a lot less was taken from our paychecks than in 2002,
especially for DH. Any hint as to why? We both changed our status to
married in Jan of 2003 (we couldn't claim married until we were
'residents for tax purposes' and able to use the regular 1040 instead
of the 1040NR which has nothing to do with being legal residents but
with being in the US longer than 5 years, it has been more than that,
but we hadn't done it - I think I had, but it never crossed DH's mind
he might change his status, he just does not think about those mundane
facts), and we only have one allowance each. Do you guys know if
changing from single - married implies less is taken every month?
Or do you think it might be related to the new tax laws? I did notice
the amount I took home went up at some point, while the total salary
had not increased at that time.. I was happy since I was taking more
home, and did not question why at the time (I guess in the long run it
is better to owe since you've had the money all along, right? But
getting a check back sure is nice!).
Here I was, naively thinking that since taxes had gone down with Bush
(or so the ads keep repeating, although I know most benefits are for
the very rich) and there was no marriage penalty anymore we'd get a
nice check back!
Do you think I should see someone so they can take a look at my
numbers? Like an HR Block person? They say the can definitely save you
some money, right? The thing is, our taxes are so simple I am not sure
they can help us so paying a fee might not be worth it.. unless there
is something I am completely missing and it might make a huge
difference - remember Sofia was born this year so I cannot claim her!
--
Dr. Quilter
Ambassador of Extraordinary Aliens
http://community.webshots.com/user/mvignali
(take the dog out before replying)