I made pretty much the same as last year. I didn’t change any other info on my forms or with my job’s bookkeeper. I’m still single with no dependents. I hope there’s no chance that I’ll owe the gov’t. Last year I got a $2000 refund.
Probably, though of course the tax code changes a little every year.
Also note that if you’re getting refunds that large, that’s actually a bad thing: It means that you were giving the government a sizable loan, interest-free. You should probably see about adjusting the amount of your withholding.
Sounds like you’ll get another big refund if your earnings and withholdings are about the same. For 2010 you won’t be able to add property tax to the standard deduction so that will ding you a bit if you pay property tax and don’t itemize deductions.
The amount of witholdings and subsequent refund are a matter of personal preference…the amount of short-term interest you would have earned on an average of $1000 is negligible. The important thing is what you do with the refund…save it vs. spend it.
Huh? Property tax is still deductible if you itemize.
standard deduction takers lose the additional property tax deduction for 2010