Naive Tax Question
- Thread starter FrenchLicker
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A girl I worked with 6 years ago was 19 with 2 kids. Yes, that's a thing that happened. She was hot too so...
But I digress. She walks in one day and tells us she's getting $6000 back on her taxes. I pay her so I know what's she's making and it's like $23,000 a year. She's probably only paying like $2,000 into the system every year. So we tell her that there's no way that's happening. You can't get back more than you put in.
And of course we were wrong. At the time I was making 50k a year. $6000 cash was 4 pay checks for me. I was raging. That's 2 months of work at my salary that got handed her for what? Because she made a bad decision... TWICE.
She of course bought a big screen tv, her baby daddy a PS3, some subs for her car... you know. She was a nice girl but she was definitely hood.
But I digress. She walks in one day and tells us she's getting $6000 back on her taxes. I pay her so I know what's she's making and it's like $23,000 a year. She's probably only paying like $2,000 into the system every year. So we tell her that there's no way that's happening. You can't get back more than you put in.
And of course we were wrong. At the time I was making 50k a year. $6000 cash was 4 pay checks for me. I was raging. That's 2 months of work at my salary that got handed her for what? Because she made a bad decision... TWICE.
She of course bought a big screen tv, her baby daddy a PS3, some subs for her car... you know. She was a nice girl but she was definitely hood.
I believe my ex and her husband get back every penny and then some they have 5 kids between them. I'd say they get 7-10k back a year. I doubt highly they put in that much. I know roughly what they make.
When I was with my ex and we had the house it was best for her single 2 kids making less than me to claim my son and the house. We got way more back than if I did. I was making 2x what she was. This was 8-10 year ago though.
When I was with my ex and we had the house it was best for her single 2 kids making less than me to claim my son and the house. We got way more back than if I did. I was making 2x what she was. This was 8-10 year ago though.
I'm still failing to see how you can get back MORE than you put in... The credits go towards your tax liabilities, don't they? They're not just additional amounts added towards your refund. Unless I'm missing something, it would seem that the limit that you could get back is the amount you paid in taxes if your credits bring you to the point where your Adjusted Gross Income leaves you with 0 tax liability, and then you would get all your paid taxes back.
On a serious note, my fiancé and I have talked about having a "spiritual wedding" and not getting married in the eye of the law. Our future kids would likely be able to get medicaid because of single mom, along with all the other benefits. It just goes to show how the system is so fucking broken that people stay unmarried just to cheat the system.
Yeah, I know about that one because I got it too, just figured the credits typically reduce your tax liability. Guess I'll be taking a closer look at how these credits work when I do my taxes.
EIC has been around long before Obama. My daughter is 20 years old and I was getting back almost $5k per year and I was only making $12hr first few years she was around. People that dont work sell their kids SS #'s to other people who are making minimum wage, because they will get a shit ton more per kid back. Thats also been going on for years.
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