1st Tax Refund with 1st Born

RB's Titan · 01-13-2006, 08:00 PM

Holy cow I just did my taxes...yeah yeah not bad at all just a few W2's and 1099's. However what the shocker was after usually getting a average standard return for the wife and I to split I hit the ceiling for what turbo tax says I get back this year. Man fellas that was a true shocker having a wife who quit work after 2 months in 2005 and then having a baby really made a huge difference.

Any of you other new dad's find this pleasant surprise in your first year?

Treebasher · 01-13-2006, 08:53 PM

All that I have heard is that it is a bigger break/better deal(in most cases) than having both parents working...

Did you play around to see what it would be like if you would have had two kids in one year? I guess that's significant. GB your wife if you did...

RB's Titan · 01-13-2006, 09:01 PM

I guess what I'll do this year is change my with holding from 0 and claim 1.

Two kids wow...not sure about that one yet still got one crawling...maybe in 3 years...just before my mid life crisis and my 350Z or Skyline purchase...yeeee haww!

TYTAIN · 01-14-2006, 12:03 PM

Good deal, get everything that's due to you.

Demondw3 · 01-15-2006, 07:19 AM

I have yet to do my taxes. My sugar momma was outta work for six months(first pregnancy problems) she made about what Uncle Sam pays me for a year. When we first bought our house we owed and now with the little one here I think we should get a good return. We are usually on the bad end of the tax stick everyone says you'll get a lot back, well that never happens for us so I will see. 2006 taxes will suck cause she will be back to making those sugar momma wages for working all year. I guess no S/C for me.

jerm · 01-17-2006, 04:25 PM

If you can qualify for EIC and the additional child tax credit, then ya kids make a big difference on taxes. But if your income is too much, then you really don't see too much cash back.

buzzkillwill · 01-20-2006, 07:36 AM

I haven't done mine yet, but I'm excited...

I have two jobs now, and one of them is working as an an independent contractor. So I can get some pretty decent write-off's, at least I hope I can. We'll see....

titanQ · 01-20-2006, 08:00 AM

Just filed mine, getting $1400. FYI, each dependent credits you with $3200 automatically

RB's Titan · 01-20-2006, 08:18 AM

Quote:

Originally Posted by titanQ

Just filed mine, getting $1400. FYI, each dependent credits you with $3200 automatically

Yeah been paying to much in for Uncle sam to hold. The 3200 makes perfect sense as that is the increase I saw over that's years refund.

Me thinks I should have more kids...

Titano24's · 01-20-2006, 09:02 AM

I need to start making babies haha, after paying over 15k in fed taxes for '05 I want some back haha

buzzkillwill · 01-20-2006, 09:27 AM

Quote:

Originally Posted by Titano24's

I need to start making babies haha, after paying over 15k in fed taxes for '05 I want some back haha

Yeah, you need some write-offs, and there's cheaper things than kids, although probably not as fun.

Titano24's · 01-20-2006, 09:40 AM

Quote:

Originally Posted by buzzkillwill

Yeah, you need some write-offs, and there's cheaper things than kids, although probably not as fun.

yea its always fun to try hehe

i can't wait to see what i get back this year............most likely not alot, i loved it when i could write off school tuition