Hi all,
New Leaf owner here. Got my Blue Ocean about a week ago. Love it so far.
Now, for the question... I am REALLY confused about the tax credit. I did a search here and I see 2 different opinions. So wanted to see what is the actual fact.
How is the $5000 credit applied?
Some are saying you have to OWE money to GA State when doing your taxes and then apply the credit so you owe $0.
Some say it doesn't matter if you owe or they owe, you still apply the credit... ???
So lets say my annual liability is $4000. As of current, at tax time, I usually get a refund of about $1000.
How does it actually work? Do I need to change my withholding to a high number like 13 to have almost no GA taxes taken out and owe at year end and then apply the $5000?
Or would I continue as I do today and apply $4000 credit (liability $4k) and get $4000 total refund from scenario above ($4k liability).
So confused. If you have already done your 2013 GA taxes and have gotten a refund or what not, please explain how you did it.
New Leaf owner here. Got my Blue Ocean about a week ago. Love it so far.
Now, for the question... I am REALLY confused about the tax credit. I did a search here and I see 2 different opinions. So wanted to see what is the actual fact.
How is the $5000 credit applied?
Some are saying you have to OWE money to GA State when doing your taxes and then apply the credit so you owe $0.
Some say it doesn't matter if you owe or they owe, you still apply the credit... ???
So lets say my annual liability is $4000. As of current, at tax time, I usually get a refund of about $1000.
How does it actually work? Do I need to change my withholding to a high number like 13 to have almost no GA taxes taken out and owe at year end and then apply the $5000?
Or would I continue as I do today and apply $4000 credit (liability $4k) and get $4000 total refund from scenario above ($4k liability).
So confused. If you have already done your 2013 GA taxes and have gotten a refund or what not, please explain how you did it.