tax refund and median

[hughewil]

when determining your median do you count your tax refund as income?

[newbie2]

when determining your median do you count your tax refund as income?

No. Make sure you are using gross income though and not net income.

[hughewil]

Thanks, I wasn't sure becuase the attorney told me my bonus would be used to determine if i was over median, but i didn't think to ask about the tax refund i recieved this year.

[newbie2]

Thanks, I wasn't sure becuase the attorney told me my bonus would be used to determine if i was over median, but i didn't think to ask about the tax refund i recieved this year.

Your bonus is income. Your income tax refund is money already accounted for in your gross income.

The only *catch* I can see to this would be a refund of money you actually didn't pay (child credits, etc.) Some people receive more money in their tax refund than they paid during the year. I'm not sure how that is accounted for. If that's the case with you, your attorney should know how that extra money plays out.

Good luck to you.

[hughewil]

Your bonus is income. Your income tax refund is money already accounted for in your gross income.

The only *catch* I can see to this would be a refund of money you actually didn't pay (child credits, etc.) Some people receive more money in their tax refund than they paid during the year. I'm not sure how that is accounted for. If that's the case with you, your attorney should know how that extra money plays out.

Good luck to you.

Thanks, my tax refund was less than what I paid in.

[Jovigirl22]

Our attorney said that our refund would ABSOLUTELY count in our district, and that he knew the district just to the north of us would not count it. It doesnt make any sense to me either, but he said there were only two trustees in this district and they were both pretty harsh.

[queenbeen]

My attorney did say that our tax refund would be counted on a monthly basis, meaning it would be divided my 12 and applied for the six months prior to filing.

[hughewil]

I don't like to hear that, doesn't seem right. Your median is determined by your gross and they want to add refund on taxes on top of that when taxes are taken from your gross.