Average Tax Return

iVillage Member
Registered: 09-22-2003
Average Tax Return
14
Mon, 03-07-2005 - 9:08am

I heard on the news this morning that the average tax return is $2,436. Up 9% from last year.

Is your tax return below, higher or around the average? Are you getting a bigger return than last year?

I'm single, so I'm definitely getting less than the average. My Fed return was around $740, and my State was $179. I think I am up a couple of hundred from last year.

Pages

iVillage Member
Registered: 12-05-2004
Mon, 03-07-2005 - 12:55pm

Our Federal was 4121, and our state was 1303. I talked to DH about changing our withholdings to get more of that money in our paychecks, but he says that as we pay off our loans, we won't be able to count on the interest deductions anymore, so he wants to keep it the way it is and see what happens next tax time.

Pat

iVillage Member
Registered: 02-19-2004
Mon, 03-07-2005 - 12:57pm
I am way up over anything I have ever got back. But that is because I got divorced. My ex never had enough withdrawn from his check (our money was kept separate) and I always ended up paying for it at tax time. This year I got dd as a deduction, I was able to claim head of household, and I got a good portion of my childcare expenses tax free, and I also got a deduction for some money I had to pay my ex in the form of spousal support during our separation. I got $2,184 back on federal, I had to pay $1 for state.

Photobucket

iVillage Member
Registered: 09-21-2004
Mon, 03-07-2005 - 2:41pm
Mine was bigger than the avg and but our return last year was avg. Big difference in income the last couple years.
Avatar for mrslove2000
iVillage Member
Registered: 03-26-2003
Mon, 03-07-2005 - 7:43pm

DH and I are BELOW average. Last year we received $350. Since we both work we don't qualify for any extra credits for DD. (daycare, earned income credit, etc)We live in Texas and don't have state income taxes YIPPEE

Susan

<ahref="http://www.TickerFactory.com/debt/wJLmWvM/"><imgborder="0"src="http://tickers.TickerFactory.com/ezt/t/wJLmWvM/debt.png"></a>

Avatar for mquin73
iVillage Member
Registered: 03-27-2003
Tue, 03-08-2005 - 1:48pm
You do claim Child Care Expenses though, right?


signature 2008

Avatar for mquin73
iVillage Member
Registered: 03-27-2003
Tue, 03-08-2005 - 1:52pm
Our tax refund this year is more than what we normally get.


signature 2008

Avatar for mrslove2000
iVillage Member
Registered: 03-26-2003
Wed, 03-09-2005 - 9:11pm

We don't have child care expenses. Usually DH's schedule allows him to be home when DD gets home from school or my MIL watches her. So I'm glad we don't spend $$$ however, it would be nice to get a credit on our return.

Susan

<ahref="http://www.TickerFactory.com/debt/wJLmWvM/"><imgborder="0"src="http://tickers.TickerFactory.com/ezt/t/wJLmWvM/debt.png"></a>

iVillage Member
Registered: 11-13-2004
Wed, 03-09-2005 - 9:37pm
I received my refunds already. I got $3550 from federal and $90 from state. This is definately more than last year. But this year, I didn't make as much and had a few more deductions than last year, including a bad debt deduction because I lent my idiot ex money and he never paid it back after we broke up. Last year I only got about $2200 for federal and had to pay about $300 in to state! Definately a better year this year!
iVillage Member
Registered: 03-19-2004
Thu, 03-10-2005 - 3:09pm

Ours is a little over 4 times the average rate but I use it as a forced savings account. My dh claims "Zero- single status" so he has approx 33% of his salary taken out each week in taxes (FICA, state, medicare, federal). We use a good chunk of our return to pay our property taxes and homeowners insurance.

Our refund was less this year since we no longer get the child credit for our oldest child.

iVillage Member
Registered: 12-16-2004
Fri, 03-11-2005 - 11:36am
I've never EVER received a lot of money from the state, fed. etc. so this year I had to pay the state and I still can't figure out why and I only got backl ike 200$ something from the gov't. go figure! ugh!

Pages