ChiefsPlanet
Page 5 of 7 1234 5 67
Show 80 post(s) from this thread on one page

ChiefsPlanet (https://chiefsplanet.com/BB/index.php)
-   Nzoner's Game Room (https://chiefsplanet.com/BB/forumdisplay.php?f=1)
-   -   Life Income Taxes (https://chiefsplanet.com/BB/showthread.php?t=200402)

Skip Towne 01-15-2009 08:36 PM
The cheapest and easiest way to check your score is to ask your banker. If you ave a loan with him, he'll know your score.

boogblaster 01-15-2009 08:52 PM
Ole-Growler should get back some decent monies ... 0 for the boog tho ...

stlchiefs 01-15-2009 09:01 PM
Quote:
Originally Posted by Simplex3 (Post 5395149)
I've always thought it was strange that I have to make quarterly payments to the government based on what I *think* I'll earn this year, and if I screw up and don't pay enough soon enough I get slapped with fines. However, if I over pay they never seem to return the favor.
My wife just started as an independent contractor in '08 and I'm thinking the same thing as I was calculating a payment the other day. Underpay and you're screwed, overpay and the government keeps it and is happy. FOCK!

wutamess 01-15-2009 09:20 PM
Quote:
Originally Posted by kepp (Post 5394788)
Turbo Tax will do just as good and cost about $200 less. Unless your taxes are really complex or something.
Very...
Rental property income/expenses, short term stock gains and losses (mostly losses), and started a new business last year (more expenses).

Don't know what's deductable and what is. Will leave it to the tax man.

beach tribe 01-15-2009 09:23 PM
Quote:
Originally Posted by Lono (Post 5393982)
Wife and I both got our W-2's today. Getting $5001 back, not too shabby. Can finally pay the old lady's Trailblazer off. Anyone else got their's done yet?
I'm gonna have to pay about that much.

petegz28 01-15-2009 09:25 PM
I don't remember the last time I had a refund. The Fed refund we got last year was just enough to pay our State.

beach tribe 01-15-2009 09:25 PM
Quote:
Originally Posted by stlchiefs (Post 5395344)
My wife just started as an independent contractor in '08 and I'm thinking the same thing as I was calculating a payment the other day. Underpay and you're screwed, overpay and the government keeps it and is happy. FOCK!
No true. I did my takes with Turbo tax last year. Paid in over 5gs. About 2 months later got acheck from them. Over paid by $600.

007 01-15-2009 09:28 PM
Quote:
Originally Posted by petegz28 (Post 5395390)
I don't remember the last time I had a refund. The Fed refund we got last year was just enough to pay our State.
That means you are doing it right.

petegz28 01-15-2009 09:29 PM
Quote:
Originally Posted by Guru (Post 5395403)
That means you are doing it right.
I guess...My target is to not owe or be owed so yea.....


This year though should be interesting with the way the stock market clobbered me.

007 01-15-2009 09:33 PM
Quote:
Originally Posted by petegz28 (Post 5395406)
I guess...My target is to not owe or be owed so yea.....


This year though should be interesting with the way the stock market clobbered me.
We have ours figured out to do exactly what yours does. Refund from Federal literally pays what we owe to State. Maximum take home pay every check.

And yes, we invest wisely and diversify.

petegz28 01-15-2009 09:35 PM
Quote:
Originally Posted by Guru (Post 5395416)
We have ours figured out to do exactly what yours does. Refund from Federal literally pays what we owe to State. Maximum take home pay every check.

And yes, we invest wisely and diversify.
Last year was the first year we had a refund in several years. Usually it's $3k at least out the door. But, I would rather owe them than them owe us.

Fritz88 01-15-2009 09:40 PM
**** taxes.

BWillie 01-15-2009 09:41 PM
Quote:
Originally Posted by CrazyPhuD (Post 5394091)
Nah you want to owe the government as much as possible without owing fees. Why? Just like when you get a refund back from the government you gave them an interest free loan. When you owe the government money you're getting and interest free loan from the government. If you take that money and put it in something that makes money you make out ahead. This of course depends upon a person being able to manage their finances, but really you want to owe money.
Great point. Maybe you can help me out with something. What is the most you can opt for the government NOT to take out of your check? Can you keep the whole thing? And pay at the end of the year?

Hell, if that is the case, at the VERY LEAST I can put my money in a CD that would have been withholding anyways and get something out of it. I think I claim "0" or "2", whichever one that takes more out of your check each time.

For a guy making $45,000 to $55,000, what would be the difference from what I'm withholding now, and the least amount I could withhold?

Saulbadguy 01-15-2009 10:08 PM
I owe around 2 grand.

007 01-15-2009 10:41 PM
Quote:
Originally Posted by BWillie007 (Post 5395430)
Great point. Maybe you can help me out with something. What is the most you can opt for the government NOT to take out of your check? Can you keep the whole thing? And pay at the end of the year?

Hell, if that is the case, at the VERY LEAST I can put my money in a CD that would have been withholding anyways and get something out of it. I think I claim "0" or "2", whichever one that takes more out of your check each time.

For a guy making $45,000 to $55,000, what would be the difference from what I'm withholding now, and the least amount I could withhold?
Get a financial advisor and they will look at everything and tell you exactly what you should claim on your withholdings.


All times are GMT -6. The time now is 02:06 AM.
Page 5 of 7 1234 5 67
Show 80 post(s) from this thread on one page

Powered by vBulletin® Version 3.8.8
Copyright ©2000 - 2025, vBulletin Solutions, Inc.