Income Tax Refunds or Income Tax Bills

So, it's an easy question. Do you have a tax refund coming or are you burdened with an income tax bill? Fortunately for me, like always, I ended up with an income tax refund. Ended up paying off a $50 loan that I borrowed from my mom to get my taxes done and for a pair of new pants that I needed.

The rest? Well, I purchased a few Blu-ray movies for myself and I have about $250 slipped away until I find out how much my new prescription eyewear is going to cost. Unfortunately, because my eyesight has been getting worse, and due to the high astigmatism in my eyes, I cannot wear contacts. Hopefully, Sears Optical has some decent stylish frames for their "2 Pair for $100" deal. I'm expecting the total bill to be, at least, $150. I'm hoping it's not going to be for more than that.

I had a refund this year because I had 10% taken out for taxes. However, I owe the IRS from past years so that is where my refund will go.

Strangely enough, after I my standard deduction and my exeemption I still paid $500 in taxes but my taxable income was only $5,000. How little do you have to make to be under the poverty level and not owe taxes?

Ouch, that hurts. I know that I only received about $4000 to $5000 in unemployment but I ended up getting back $382 from my Federal Returns.

Because I couldn't live on unemployment benefits last year, I didn't have them take out federal taxes. Therefore, I owe them $63! I can't believe it was so low. I also owe the state $127, but I always owe the state a little bit. I had unemployment take out the state taxes all year because I knew it would be a problem.

It's the first time in a long time I've had no big federal refund to catch up on bills, and it's the worst time for that to happen. I hate that they tax unemployment benefits - kick you when you're down. Last time I was unemployed years ago, I owed $1,300, so I'm lucky to only owe $63 this time.

I got so little in UI each week I didn't have any taxes withheld. I am still in touch with my mother's best friend who owns an H&R Block company across the state from me. She has been kind enough to do my taxes every year for some time now. I will only owe the state $14.

I've always had them take out a little more by claiming "0" on my tax forms. That way, I don't end up with any tax liability and I get everything back.