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warrior 01-16-2009 03:49 PM
Quote:
Originally Posted by Stewie (Post 5395904)
Capital gains on stock investments are even more ****ed up. Everyone thinks it's a great deal you only pay 15% on gains but what they don't realize is there's no corresponding capital loss.

You make $1,000,000 on a flying stock you pay $150,000 in taxes.

You lose $1,000,000 on a crappy stock the max you can deduct is $3,000 per year. Yeah, that's fair.

Washington makes the rules and Washington sees that they are the winner every time... unless you're a bank who made stupid decisions. Then we'll just give you taxpayer dollars. It pisses me off.


F***ed up ain't it. :shake:

BigMeatballDave 01-17-2009 10:38 PM
I used Turbo Tax for the 1st time last night to do my taxes. 1700 fed, and 140 state. If you have never used Turbo Tax before, I HIGHLY recommend it. Piece of cake...

CrazyPhuD 01-28-2009 04:12 PM
ROFL....why you don't want to give the government an interest free loan....you never know when you're going to get it back!

http://blogs.abcnews.com/thenote/200...funds-now.html

R&GHomer 01-28-2009 04:20 PM
I haven't gotten mine yet, but Mrs Homer had hers filed on the 15th. Should get our refund Friday.

Stewie 01-28-2009 04:35 PM
Quote:
Originally Posted by CrazyPhuD (Post 5434942)
ROFL....why you don't want to give the government an interest free loan....you never know when you're going to get it back!

http://blogs.abcnews.com/thenote/200...funds-now.html
That's a state. It's ALWAYS worse for them to owe you, because of the exact predicament states find themselves in today. That is, a majority of states are expecting huge deficits. A little known secret: the Feds can print money, states can't. You'll always get your money (albeit at a probable lesser value) back from the Feds. The states are a dicey issue when things get bad.

The Franchise 01-28-2009 04:44 PM
Quote:
Originally Posted by CrazyPhuD (Post 5434942)
ROFL....why you don't want to give the government an interest free loan....you never know when you're going to get it back!

http://blogs.abcnews.com/thenote/200...funds-now.html
Heh. Figures this would happen the first year that I'm supposed to get money back.

Chief Henry 01-28-2009 04:45 PM
Quote:
Originally Posted by Stewie (Post 5395904)
Capital gains on stock investments are even more ****ed up. Everyone thinks it's a great deal you only pay 15% on gains but what they don't realize is there's no corresponding capital loss.

You make $1,000,000 on a flying stock you pay $150,000 in taxes.

You lose $1,000,000 on a crappy stock the max you can deduct is $3,000 per year. Yeah, that's fair.

Washington makes the rules and Washington sees that they are the winner every time... unless you're a bank who made stupid decisions. Then we'll just give you taxpayer dollars. It pisses me off.



Stewie you've nailed it right here.

KChiefsQT 01-28-2009 06:44 PM
I owe the IRS for '06!!! Just found out a few months ago.... F*%^ I don't know if I'll be getting any back... they may just swipe it all. :( Good thing I wasn't banking on a refund!!

The Franchise 01-28-2009 06:47 PM
Quote:
Originally Posted by KChiefsQT (Post 5435485)
I owe the IRS for '06!!! Just found out a few months ago.... F*%^ I don't know if I'll be getting any back... they may just swipe it all. :( Good thing I wasn't banking on a refund!!
How did you just find out now?

KChiefsQT 01-28-2009 06:55 PM
Quote:
Originally Posted by pestilenceaf23 (Post 5435500)
How did you just find out now?
They sent me a certified letter. I was in the midst of moving to Tx back then and although I did file my regular employment taxes for 2006, I forgot to file for my coaching job. I found out a few months back, figured I'd wait until I was ready to file this year and they can just take it from that.

The Franchise 01-28-2009 06:57 PM
Quote:
Originally Posted by KChiefsQT (Post 5435534)
They sent me a certified letter. I was in the midst of moving to Tx back then and although I did file my regular employment taxes for 2006, I forgot to file for my coaching job. I found out a few months back, figured I'd wait until I was ready to file this year and they can just take it from that.
How much do you owe if you don't mind me asking?

KChiefsQT 01-28-2009 07:00 PM
Quote:
Originally Posted by pestilenceaf23 (Post 5435548)
How much do you owe if you don't mind me asking?
a lil under $1,000.


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