We are a single income family w/2 kids, I claim 2 exemptions for federal & state. We used an accountant for a few years then switched to turbotax and have been pleased for the last 5-6 yrs. My question is that we usually end up with a refund of ~$5K Federal and ~$500 state (MA). I like the idea of getting a refund every Feb as we don't save much during the year (other than 15% for retirement). We're not cash poor during the year so I don't exactly 'need' that money month to month, but based on my personal history, I figured I'd simply spend it if I had it during the year.
Taking all of my tuition carryforwards in one fell swoop this year and expecting a fairly juicy refund balance as a result. All simple stuff though... I have this excellent tax planning concept that involves multiple prof corps but I don't make enough yet to make it worth doing. But when I'm a baller, oh man am I going to fleece them damn government types. Artisan Fan would be proud.
I interned at a small firm this season, saw some pretty crazy results. One return got 12k back when they made 30k and only paid 3k in taxes during the year. Over 1/4th of their income was from tax credits/refunds, no new house either.
everything fixed. I paid nothing throughout the year and i get a tiny return anyway, I even convinced the HR department to refund taxes they took out this year because I forgot to tick the checkbox for 0% witholdings. Tax evasion to the max
Big refund this year, the first in many years. Of course that's only because we selected to defer paying taxes on a Rollover IRA to Roth IRA conversion, so we've got that to look forward to for the next two years.
We're married with no kids, we rent our apartment, and we live in San Francisco. We're basically fucked when it comes to taxes.