Well, how did you guys do this year? I just got back from the accountant and it looks like me and the wife are getting back about $5100! And, it's not because we are paying too much during the year. It's because of her student loans and because my company lost money this year (imagine that). Now I can pay the car off, get a lift and new tires on the FJ, pay of some medical debt (wife's surgery), take a trip to Michigan and still have money left over in the bank! Woot, Woot!!
I would have owed $200, so I made a last minute RRSP (registered retirement savings plan) contribution. Now I get a $200 refund, which is going into RRSP's as well.
I am dumping into RRSP's right now because Canada has a first time homebuyers plan that lets you take $25000 out of your RRSP to pay for the mortgage, which means you get all that money tax-free on your first home purchase. Pretty sweet deal... it's about $10k of "free" money. Best of all, both me and Wendy can do it.
Of course if housing prices start going up fast enough to offset what we will gain by saving longer, I will have to buy a house anyways, so I am trying to get in as much as I can while housing prices continue to fall.
I have to pay about $200 because I was (for all of 2008) a single working white guy who had as little withheld from my check as possible. And as everyone knows single, working, white guys get the shaft every time at tax time.
i still havnt filed. i'm waiting to see how this "partially buying" house thing works. my uncle and i have a meeting with his accountant to figure this out
my ex-girlfriend said "its car audio or me"
i've had tougher choices at a soda machine...
dBincognito wrote:How do you owe at the end of the year ?
Even when I had my own business I never had to pay ?
I always get back over $1000....I don't understand how people end up having to pay, if you paid in all year....
My girl's dad always has to pay in...and he always owes like $800....how is that ?
I have no dependents, no deductions, do not own a home yet, was not married, and had the minimum withheld from my check all year. I do not qualify for the earned income credit because I'm not between the ages of 25 - 65 and cannot claim any credits to offset my tax liability. I am a loan officer and tax accountant by trade, so I know I'm not missing anything.
But it's all good, When you get a refund, it's because you loaned the government money interest free for a year, and they are graciously paying you back.
Damn, I did pay more taxes this year than last year - I even have more loan. But still I have to pay ca $9000 now within August, that they claim me owing them from 2008... That will be hard, I guess.
I hate some of the Norwegian tax-rules, ofcourse I was hit by the worst of them....
