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      02-06-2013, 06:03 PM   #23
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      02-06-2013, 11:58 PM   #24
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Originally Posted by badazzm View Post
That's because maybe you are an accountant? Most of the common people have little to no idea when it comes to tax time.
Finance. Everyone should be smarter about money. Honestly, most are just complete idiots and what makes them an idiot is that they think they are smart and what they do is right.
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      02-07-2013, 01:24 AM   #25
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Finance. Everyone should be smarter about money. Honestly, most are just complete idiots and what makes them an idiot is that they think they are smart and what they do is right.
Ok smart guy. I am CPA. Was talking about regular people.
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      02-07-2013, 09:18 AM   #26
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Question for you CPA's and smart tax folks. I'm active duty Army, so I feel that I have little to no control over my income. Is it even possible for me to adjust my withholding so that I do not get a refund and do not owe anything come tax time? I don't know of any method I could use to do so in the military... I usually always get a refund. Depending on deployed time, it can be a lot or not so much, but I don't remember a year since I started filing taxes that I haven't gotten a refund.
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      02-07-2013, 12:41 PM   #27
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Originally Posted by Templar View Post
Question for you CPA's and smart tax folks. I'm active duty Army, so I feel that I have little to no control over my income. Is it even possible for me to adjust my withholding so that I do not get a refund and do not owe anything come tax time? I don't know of any method I could use to do so in the military... I usually always get a refund. Depending on deployed time, it can be a lot or not so much, but I don't remember a year since I started filing taxes that I haven't gotten a refund.
Honestly I think its more of a question for the Army / HR within the army. While a CPA could help you calculate what should be withheld, we can't change the amount the Army withholds, that's up to them. All you could do is basically take it in to them and ask to reduce withholdings based on prior years and calculations.

Do you donate to charity and other things - is that what is driving the refund? Because they can't predict (nor will they) that.
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      02-07-2013, 01:26 PM   #28
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Quote:
Originally Posted by Joekerr View Post
Honestly I think its more of a question for the Army / HR within the army. While a CPA could help you calculate what should be withheld, we can't change the amount the Army withholds, that's up to them. All you could do is basically take it in to them and ask to reduce withholdings based on prior years and calculations.

Do you donate to charity and other things - is that what is driving the refund? Because they can't predict (nor will they) that.
I have on and off, but even in the years where I didn't donate, I still got a refund, just not quite as much.

You do give a good point, and I figured going to my HR and Finance folks would be the best course of action, but thought I'd ask in case anyone had any experience. Thanks!
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      02-07-2013, 03:56 PM   #29
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Is there a W4 form or its equivalent in the military? Just change the deductions, or add a fixed amount (your typical refund divided by # of pay periods, I assume 26) on top of it.
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      02-07-2013, 08:18 PM   #30
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Quote:
Originally Posted by Templar View Post
Question for you CPA's and smart tax folks. I'm active duty Army, so I feel that I have little to no control over my income. Is it even possible for me to adjust my withholding so that I do not get a refund and do not owe anything come tax time? I don't know of any method I could use to do so in the military... I usually always get a refund. Depending on deployed time, it can be a lot or not so much, but I don't remember a year since I started filing taxes that I haven't gotten a refund.
Sorry bro. Got no military clients so I have no idea if military even has a W-4. To get the perfect paycheck though, you need to figure out your tax for the year (dinkytown.com has a nice web tool) and divide it by # of paychecks you get. Then go to paycheckcity.com. Put your income in and keep increasing the federal deductions until you reach the amount you got earlier. For state, do the same. GL!

Last edited by badazzm; 02-07-2013 at 08:24 PM.
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      02-07-2013, 08:37 PM   #31
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Ok smart guy. I am CPA. Was talking about regular people.
Touchy? I wasn't even talking about you. In general, what I said is true and you should know what I mean if you're really a CPA.
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      02-07-2013, 10:13 PM   #32
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Touchy? I wasn't even talking about you. In general, what I said is true and you should know what I mean if you're really a CPA.
I know you are not talking about me. But the way you said it to OP about having no idea about the amount of refund he will get was stupid. I do taxes for people who make 7 figures for living. Even they have no idea what the number will be. OP is happy to get his car after he gets the refund and you come in telling him he is an idiot for not having any idea what his refund will be. Very classy.
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      02-07-2013, 11:07 PM   #33
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Originally Posted by badazzm View Post
I know you are not talking about me. But the way you said it to OP about having no idea about the amount of refund he will get was stupid. I do taxes for people who make 7 figures for living. Even they have no idea what the number will be. OP is happy to get his car after he gets the refund and you come in telling him he is an idiot for not having any idea what his refund will be. Very classy.
Rich doesn't mean smart.
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      02-08-2013, 01:46 AM   #34
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Rich doesn't mean smart.
Haha. U crack me up man. There is a reason they are rich and we are not.

Last edited by badazzm; 02-08-2013 at 02:04 AM.
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      02-08-2013, 08:20 AM   #35
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Haha. U crack me up man. There is a reason they are rich and we are not.
No shit. Wealthy people think differently. Worrying about taxes doesn't make them money. They pay someone for that. The more they think and worry about taxes the less time is spent making money. You would think someone in finance would know that, even give that as advice many times.....
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      02-08-2013, 01:41 PM   #36
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Originally Posted by MP0WER View Post
No shit. Wealthy people think differently. Worrying about taxes doesn't make them money. They pay someone for that. The more they think and worry about taxes the less time is spent making money. You would think someone in finance would know that, even give that as advice many times.....
You would be surprised how much they worry about their taxes. That's the only thing they worry about actually.
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      02-08-2013, 02:29 PM   #37
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You would be surprised how much they worry about their taxes. That's the only thing they worry about actually.
In that case, try taking their money, they won't even notice.
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      02-08-2013, 03:01 PM   #38
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In that case, try taking their money, they won't even notice.
They pay me enough already hoping to bring their taxes down! More would be ripping them off. Which is one thing we CPA's don't do, if you can believe that. Lol!
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