tax stuff NFR

FearNoEvil · 01-31-2002, 09:11 PM

Ok here is my question.. my parents are going to claim me on there taxes so i don't get all my money back, i would get 900 dollars but since my parents are claiming me i only get 370 is it so unfair to ask my parents to pay they difference if they're getting a 2,000 tax credit because they're claiming me.. my parents don't pay for my school, car, insurance, gas, or anything,... they just give me food, and a place to live...... i kind of want my 900 dollars.. Is it unfair to ask them to pay the difference?

Jim · 01-31-2002, 09:13 PM

Yep! :shocked:

Jim

SeanD · 01-31-2002, 09:19 PM

If they give you food and a place to live then you are a legal dependant. If you in school then you can get other tax deductions like hope lifetime learning credit. Your parents more than pay the difference by giving you food and a place to live. My parents stopped claiming me when i was 18, but only because i moved out. Think of how much food and lodging for a year cost in the dorms.

FearNoEvil · 01-31-2002, 09:23 PM

heres my thing, my brother also lives at home and they dont claim him., so he gets all his money back, i feel so should i

Wish You Were Here · 01-31-2002, 09:24 PM

Unfair.

Bob Barthlow · 01-31-2002, 09:24 PM

Prime, I guess you're over 18, and in college right, where are you going to get room & board for $530.00 a year.

Jim · 01-31-2002, 09:35 PM

Prime,
First life lesson...life isn't fair. But not to sound to judgemental...what are the honest reasons between how you two are being treated...won't affect my answer that yes they have every right but am just curious. I am the same as you Rapid...out at 18 and payin rent and buyin food...thank goodness I could hunt and fish!

Jim

SeanD · 01-31-2002, 09:37 PM

no kiddin Robert, I pay my own way through school and live with roomies because its cheap, and $530 rent is for just two months.

FearNoEvil · 01-31-2002, 09:46 PM

jim i think i understand your question... my brother doesnt go to school and i do, we get the same things i don't get anything extra.......

ry · 01-31-2002, 09:46 PM

sounds like your sitting pretty sweet. i'd just keep quiet and not make waves. but i can't speek from experience, i was in the army at 18.

periwinkle · 01-31-2002, 10:19 PM

They are '*******' right to do that...They have given you love, encouragement, a life and on and on....God, another unappreciative teen mentality!!!! For a measley $600 that you would just pis- away... Grow up!!

STGRule · 01-31-2002, 10:33 PM

Okay, how about a calm reason. Your parents are able to claim you after the age of 18 because you go to school. They can't claim your brother as he isn't. To deny your parents the opportunity to defray the cost of your upkeep (roof, food, electricity, natural gas or oil, water, laundry, shampoo, soap, toilet paper, clothes?, health insurance?, garbage service, phone, etc.) is something you should think hard and long about. When you are providing all of these things for yourself, you will look back and think about how cheaply you used to live. I don't think your parents are getting rich by getting back $1.45 a day for your living expenses.

[ 01-31-2002, 11:35 PM: Message edited by: STGRule ]

FearNoEvil · 01-31-2002, 10:43 PM

if my parents didnt claim me i could get aid from the government for college though. they make to much so i am unable to get it..so shouldn;t they try and help me with school.. i am going to a community college they cant help me with school yet spend 5000 on funiture when the stuff we have is just fine

FearNoEvil · 01-31-2002, 10:46 PM

hey peri what the.. how about my parents help me with school.. i mean come on.. they're getting all this tax break..i just feel if they're not going to help me with school that they shouldn;'t claim me so i can AFFORD TO PAY MY TUITION.. i know money doesnt grow on trees but i would like my 400 dollars back, and that is what i make about monthy working parttime

[ 01-31-2002, 11:46 PM: Message edited by: PrimeEvil ]

STGRule · 01-31-2002, 10:53 PM

Actually you couldn't get government help unless you could prove that you had lived on your own, supporting yourself, for years before you applied for aid. Since the schooling you are receiving is of no use to anybody but you, why should your parents pay for it? Besides, anything you earn on your own is likely to make you a better person. You'll appreciate what you've got because you did it all on your own.

Deepslayer · 02-01-2002, 12:22 AM

I am sure that if you call Doctor Laura, she will tell you what a selfish ingrate you are. Then she would tell you to move out if you think you can do better. I know that's what I would tell everyone of my ten kids.
,Ed

Seefood Man · 02-01-2002, 03:55 AM

Oh for Christ sakes

What an owed society we live in. I'll tell you something, you can get your tax refund by moving out and standing on YOUR OWN TWO FEET!!!!! When living with mommy and Daddy, you give them the consideration and respect they deserve. When they were washing your your @ss, for all those years, did they ever ask you for anything,,,DOUBT IT! I am so sick of hearing kids say It's mine, you owe me!, me!, me!, me!
IT'S YOURS WHEN THE BILLS COME TO YOUR HOUSE Now I can see where the Prime Evil comes from

finclipped · 02-01-2002, 05:35 AM

Prime evil, if its that unfair, its time to leave the house. It isn't any easier when you are on your own, especially when you are starting out.

And in direct contrast to every one else on this board, after hearing for years "get an education" when it came down to paying the tuition, books and room & board, I don't think they wanted to help. I was right. Take what you can get.

Everthing will come together, just get your degree.

Pilar · 02-01-2002, 06:19 AM

Hey PM your folks are probably wondering when you will lose the ungrateful teen attitude. As a parent of a teen I think about it every day.

Going to school is not easy but the benefits are obvious. Bite your lip and do good in school. Help your folks out and thank them for the help they are giving you. Right now I'm the dumbest person my daughter knows and getting dumber every day. She often does not even thank me when I do something for her. Ungrateful ... I guess the age has alot to do with it.

Thanks for letting me see the other side of it. Graduate dude and be somebody your parents can be proud of.

BuKuBass · 02-01-2002, 06:53 AM

I had a Sociology Prof.who argued that because of hormonal influences and developement within the brain, teenagers could be considered insane. After watching the PBS show "Secret Life of the Brain" this past Tuesday night, it turns out that he was right!
Pilar: When I left home at age 17, I thought my father was the dumbest man in the world. When I returned four years later, I was amazed by how much he had learned." Mark Twian.

Hoosier Daddy · 02-01-2002, 07:06 AM

You can ask, and they can say "No". And then you can move out, and spend way more than 530.00 on your own. Your choice.
[img]graemlins/idea.gif[/img]

TundraIII · 02-01-2002, 07:52 AM

Hey looks like your startin to come around a bit :tongue: Youve been beat up enough I suppose.
I know how expensive school is. Lost a good paying job last year, now making half of
what I was and working longer hours, plus going to school two nights a week. Had to buy two
textbooks for my class and the bill was 200 bucks. This course is just a prerequisite for the
course I actually want to take! Which means next term, more books and a lighter wallet.
I'd rather spend the money on new gear but you have to force yourself to look at the bigger
picture. Hope your starting to see it too. Good luck

[ 02-01-2002, 11:07 AM: Message edited by: TundraIII ]

ry · 02-01-2002, 07:58 AM

my advice is for you to visit "goarmy.com"---you can do 2,3,or 4 year stints and when you get out the government will foot the bill for your college. otherwise you can stay with mommy and daddy and live by there rules. your 18 grow up and act like a man. you are in control of your life now and you have to make your own decisions.

Trick · 02-01-2002, 09:13 AM

I have three boys 2-9 and I know how they live in the moment and forget what you told them three minutes ago. I remember growing up and having the same feelings as Prime. I moved out two months after I graduated and I remember being mad that my parents claimed me that year even though I only spent a partial year there. I look back now and laugh at how petty my problems were back then.

The curve balls that life will throw you later will make your problems now seem insignificant in comparison. There are many people suffering in this state right now because of a unemployment rate topping 7% and they are wondering what's going to happen to them when their benefits run out. My wife was laid off a couple months before Christmas and let me tell you, it isn't fun deciding what you need to give up to keep a roof over your head. Fortunatly she found another full time job. It only pays half of what she used to make, but I'm thankful none the less.

Some of you guys need to lighten up on Prime and remember back to the selfish ideas and acts you had when you were young. He'll get over it, move on, look back and thank his parents for taking care of him someday.

Go fishin' Prime and you'll forget all your problems. :smile:

FearNoEvil · 02-01-2002, 09:24 AM

hey tundra and everyone else i get what you're saying and all that i just kinda wanted my month of work back for school and all that i mean i make crap for money.. the way i see it is.. if they want to claim me for next year that fine but why cant they just give me a little kick back on my taxes to help me out a little i am not trying to be selfish or anything like that.. ok wait
maybe i am a little i dont know..

the only problem is no one on this board is looking at it from my side..... or thats what i think at this time in my life.

BuKuBass · 02-01-2002, 09:36 AM

PrimeEvil; "at this time in my life" is the key. I didn't appreciate what my folks were telling me when I was your age either. I thot, "They've never dealt with what I have to in this day and at my age." But PE, there are universal truths [see my previous post re. Mark Twain"]. So hang in there dude; it will get alot better for you.

brshooter · 02-01-2002, 09:44 AM

Hey Prime,
I won't jump all over you on this one. I hope you are getting the point. If you want a good laugh, just print a copy of this thread, seal it in an envelope, and open it in about 20 years. You will have a completely different view of the whole situatiion.

Hoosier Daddy · 02-01-2002, 09:54 AM

Geez, guys. Brshooter, gotta agree with you.

I'm not going to say your a damned teenager, etc. None of us know anything more about your situation than what you have told us. That's why I said what I did. It's "fair" for you to ask, and it's just as fair for them to say NO WAY.

FearNoEvil · 02-01-2002, 12:37 PM

thank you chnookie,
i was just trying to get some opinions and a few people flipped out oh well... i get all the points and what not..

guess i wont ask

Casey

Sadie-Lynne · 02-01-2002, 01:07 PM

PrimeEvil I feel that if you live at home and get room and board your parents should be claiming you on their taxes. Being a parent that has raised two children can tell you that it cost alot to have another mouth to feed hot water to wash clothes and bath. Just love your parent and dont make a big deal out of this one. They desire it and some day you will also. You will also understand where most of us are coming from and that will be in just a few years when your out on your own. It is good to see that you don't just run with your own ideas but try to get advise. Be open to the advice and thumbs up to you for asking.

:smile:

On a mission · 02-01-2002, 02:19 PM

PM after all that info from everybody why don't you head out fishing, and good luck.

Lured In · 02-01-2002, 02:21 PM

Prime, one more thought for you as I used to be in your shoes, or close enough. Take what your your parents give you, thank them and forget about the 900 bucks. Rent and living expenses outstrip that in a matter of months as was mentioned earlier.

Tax Law 101: A tax deduction is not a tax refund. Your parents get to deduct $2000 from their income which reflects as less than $200 in their tax refund. So the government basically says it costs your parents around $2000 per year for them to take care of you and for that $2000 they spend on you, the get $200 back in tax refund. Now if you were on your own, you would spend more than $2000 just trying to put a roof over your head.

You think this is bad now, wait to find out how much money you give the government each year after you get out of school. Good luck and just focus on finishing school and making time to fish.

CAGEY · 02-01-2002, 02:28 PM

PrimeEvil,
No smart answers from me. Just this. If you are so upset with how you are being treated, then why don't you just move out. Iam sure you could find some high paying job to support yourself. I agree that we adults are sometimes very selfish and unconcerned about the younger generation. We don't give them enough, we don't see to it that they have a place to go and have fun, etc. I have to vote against you on this one.

Riff · 02-01-2002, 06:38 PM

Prime,
Ask,if you want to ask. That's the great part of experiencing who you are. But, I would weigh how important it is to you first. Any family with strong communication should be able to resolve the issue without conflict. Bye the way rent in this region is pretty steep. Good Luck!

-----Nature is the squarest opponent-----

Sea Nymph · 02-01-2002, 08:17 PM

i pretty much agree with "fincliped". if you think you are being treated unfair.... move out.

Alligator · 02-02-2002, 07:31 AM

Hey Prime,

If “Lured in” is correct about your parents getting a net savings of $200 in their taxes by claiming you as a dependent consider this. Confirm this with a tax accountant! Tell your parents if they allow you to claim yourself you will pay them $200 of the $900 bucks you will be refunded.

Both win situation, they get the $200 and you get an additional $700.

Again, I'm not an accountant so check it out.

My two cents
Les

scooby · 02-02-2002, 02:11 PM

Hey Prime - what Lured In stated may be true on "Planet Ignoramus" but down here, I don't think so.

First off you were talking about a credit not a deduction. Big Difference. Credits are Dollar for Dollar as they are a Credit against Taxes Due. A deduction is a deduction to arrive at taxable income, and the tax savings on a deduction is dependent upon the amount of tax you save from the deduction which would be your effective tax rate multiplied by the amount of the deduction. Lured assumed a 10% tax rate in is analogy,(but you were talking about a credit and therfore if it is a credit the savings would be $2k) which seems a little low to me when you consider for Oregon residents you have to figure the state taxes paid to get the effective tax rate. But he really has no idea what the tax savings are of a $2k deduct becuase we don't know what the effective tax rate is.

I am not sure what credit you are talking about for $2k, but to determine the effects (assuming you were talking about a deduct and not a credit) of a deduction one would need to run some calculations based on your income position and your parents income position. Were you referring to the personal exemption? Wich is $2,900 for the year 2001.

The diffence in taxes for you if claimed as a dependent on someone elses return is basically the personal exemption amount for that year, plus any credits available to them that are not available to you. Assuming your parents make more money than you and therefore are in a higher effective tax bracket, but are not to the point that personal exemptions are phased out, I would have to guess that on an overall basis more taxes are saved by them claiming you as a dependent.

Go to irs.gov and you can get tax tables, exemption amounts and credits.

Jennie@ifish · 02-02-2002, 03:26 PM

We should have one or two "Dear Abby" posts a week.
Kind of interesting!

Jen

Alligator · 02-02-2002, 07:48 PM

Great job Scooby,

I fell off my chair laughing when I read you reply. Complicated of course

Sorry Prime, but this seems to be the story of my life too. When ever I think I'm getting more money back than I first thought it usually turns out not the case.

Ask your folks if their accountant has looked at the best net return for your family and if they say yes then give them a hug and tell them thanks for being there for you. As for your brother he may be paying rent or giving some other type of compensation to offset your argument.

L

myco-mike · 02-02-2002, 09:10 PM

PM,
Just a thought. Start paying your parents rent.

Think about it. Next year you'll get the maximum refund and this year you will probably qualify for financial aid.

Or,how about a student loan?

Capin' Dan · 02-03-2002, 04:22 AM

PM my what a difference 20 years will make. Have you ask them to make up the difference. You might be surprised. If your parents are like most I'm sure they help out way more than $400 a year. That could be just two months food for a lot of teenagers.

Pilar. I'm twice as dumb as you are and getting dumber at twice the pace.

A special thanks to the Airforce for saving me about 40 K in college. Not my choice totally hers.