It's that time of year, TAX RETURN TIME!

[El Jefe]

For the past 2-3 years I have started a thread about what people were going to spend their tax return on. While greeted with some hostility, most people actually enjoyed the threads. I don't know how much I will get back, but I have some big plans for it!

I am going to try to pay a grand or so on my wifes car (We owe 3k). I am going to try and slide as much as I can at my wife's student loans (only owe 11k). Outside of those two debts, we don't have anything else luckily, because I pay out of pocket for school (ouch).

My next step depending on how much I get back would be to put at least another grand into our house fund. I live on James street, and I have designated our house fund as "Operation James Street Freedom". I would like to put some money into my IRA, currently it has none. Give my wife a little extra walking around money.

I think the last thing I would like to do is give some money to our Deacon fund at my church. This is a fund that is given by church members and distributed to the needs of the church and community if need be by the Deacon board. This fund has helped a lot of people in very bad spots, and it's my duty to help out my fellow man. Our church also houses the food pantry for our community, and we received emails saying the food pantry is direly low, they have served more families this month than ever before. So I would love to take a hundred or so and buy some food to donate.

What dreams do you guys have? I know most of the people here will probably pay down bills, but its fun to dream anyways.

inb4youareanidiotfornotinvestingit

[Buehler445]

I shouldn't pay as much as I did last year, but any tax savings I'm going to use to purchase lube for next year.

But if you're going to put it towards debt, I wouldn't split it up, I would put the entire portion that you are putting towards debt in the single liability with the highest interest rate.

Best of luck bud.

[Three7s]

I can't even remember the last time I got a return. As usual, I owe once again. :huh:

[Ceej]

All tax "refundage" will be going towards a Vegas fund for September.

[Carlota69]

1) payoff credit card
2) payoff knee surgery
3) pay for personal training for a number of months
And if possible
4) go on a trip to Sedona or something reasonable like that.

[Rasputin]

Am hopeful to get a nice return this year. I have struggle all year just too keep up with bills. Hope no one can garnish any of it uhg. I want to pay off as much as I can of the trailer I'm buying. It's nice enough & cheap enough that once it's paid off just something I won't have to worry about other than lot rent. I sure like buying my own place rather than paying rent and never get anywhere in order to save money.

I'd like to fix this place up much nicer and redo the front and back porches.

I'd like to get a Playstation 3 so I can get Madden 2014 with Geno Smith as the QB of the Chiefs. My daughter will have other plans :doh!:

[mr. tegu]

We are just going to buy furniture. We bought a pretty big house (2,300 sq ft for the fiance and I), and there are still basically three rooms that are completely empty.

My uncle is a shareholder with Nebraska Furniture Mart (Berkshire technically I think) and every year in Omaha they have a shareholders only sale and things are dirt cheap. Most furniture is about 50% off of what you would pay in the store on a daily basis.

[SAUTO]

LOL, yeah right

[Dunerdr]

Pay off 1,189 on a credit card, then pay a year ahead on car insurance(because im about to be forced out of my job to stay in school). Then fix the transmission on my quad.any extra money is for my AR build.

[loochy]

house principle

[loochy]

any extra money is for my AR build.

cant do that

bad person

ban

murder

hey hey hey ho ho ho

[Bweb]

Man...12 posts in and I am the first with,

Going to spend it all on "Hookers and Blow"

[El Jefe]

house principle

I wish I owned a house, because it would be nice to pay towards something.

[loochy]

I wish I owned a house, because it would be nice to pay towards something.

yeah but it also sucks that you know you'll be paying like $150,000 more than your actual house costs because of interest

[El Jefe]

yeah but it also sucks that you know you'll be paying like $150,000 more than your actual house costs because of interest

True. It still sucks renting though, that money goes straight down the drain.

[2112]

I try and break even, why would you want the government holding your money and making interest on it when you can already have it?

[okoye35chiefs]

don't get a huge return.

i always wanted to keep even with the government, don't want them to use me as a savings account and I dont' want to owe....stay right in the middle with a small return..

I have been audited the last two years so this year I can't wait to get the LETTER...

[loochy]

I try and break even, why would you want the government holding your money and making interest on it when you can already have it?

because sometimes it can be really difficult to accurately calculate how much tax you will owe

and I definitely want to make sure I don't have to pay at the end of the year - that's a kick in the nuts for sure.

also it's nice to give yourself a little present at the end of the year.

[okoye35chiefs]

I try and break even, why would you want the government holding your money and making interest on it when you can already have it?

I'm with you here... I stay even and pick up a couple hundred from st and fed.

[Strongside]

I made a lot of charitable donations and worked a lot of pro-bono hours this year. As well as paying in much more than my bracket dictates...I'm hopeful for a solid return. If so...it's high time to buy my girl a ring. We've been together 11 years in June. High School sweethearts. We've both been putting off engagement until we were financially stable, so it's not just my fault, lol.

[okoye35chiefs]

I made a lot of charitable donations and worked a lot of pro-bono hours this year. As well as paying in much more than my bracket dictates...I'm hopeful for a solid return. If so...it's high time to buy my girl a ring. We've been together 11 years in June. High School sweethearts. We've both been putting off engagement until we were financially stable, so it's not just my fault, lol.

good for you!

[El Jefe]

because sometimes it can be really difficult to accurately calculate how much tax you will owe

and I definitely want to make sure I don't have to pay at the end of the year - that's a kick in the nuts for sure.

also it's nice to give yourself a little present at the end of the year.

Exactly.

[El Jefe]

I made a lot of charitable donations and worked a lot of pro-bono hours this year. As well as paying in much more than my bracket dictates...I'm hopeful for a solid return. If so...it's high time to buy my girl a ring. We've been together 11 years in June. High School sweethearts. We've both been putting off engagement until we were financially stable, so it's not just my fault, lol.

Congrats!

[DaKCMan AP]

What a great thread!

It almost reminds me of this one from 3 weeks ago:

http://www.chiefsplanet.com/BB/showthread.php?t=268635

[bigjosh]

Putting a wood stove in my basement, I am tired of being molested by the oil company.

[El Jefe]

Putting a wood stove in my basement, I am tired of being molested by the oil company.

Great investment, well worth the cost.

[kepp]

don't get a huge return.

i always wanted to keep even with the government, don't want them to use me as a savings account and I dont' want to owe....stay right in the middle with a small return..

I have been audited the last two years so this year I can't wait to get the LETTER...

Audited two years in a row? What kind of red flags do you set off?

[Buehler445]

yeah but it also sucks that you know you'll be paying like $150,000 more than your actual house costs because of interest

Well, it depends on the size of the loan. I did some calculations on various size loans. And as of the rates a couple years ago, you could about count on paying double your principle on a 30 year amortization excluding any PMI. I can't remember if that included property tax or not, I don't think it did. Either way, it's good enough for a rule of thumb. Borrow 100K for 30 years, pay 200K total. So yeah, that's as good of a case for paying extra principle if there ever was one. And the hell of it is that interest rates are low!

don't get a huge return.

i always wanted to keep even with the government, don't want them to use me as a savings account and I dont' want to owe....stay right in the middle with a small return..

I have been audited the last two years so this year I can't wait to get the LETTER...

Mother fuck that! Is it a full audit or just asking to verify aspects of your return?

[cookster50]

Audited two years in a row? What kind of red flags do you set off?

Claimed his name was Saddam Hussein.

[loochy]

Audited two years in a row? What kind of red flags do you set off?

added dog as a dependent

[Buehler445]

I think they audit you once and then follow up the next year. Particularly if they find anything.

[okoye35chiefs]

the audit surrounds my stock options...

The IRS wants me to claim the option at full sale price like lets say 240 shares at $40.00.

Well it is an option so I only own $24.00 of that not all 40.00!!! So instead of $9,000 I only get $5760 which once taxes are taken it is more like $3000 if you are lucky... (just an example)

So I get this letter saying I owe like 50k and I about flip out...

With my tax guy being a MORON he never filed it all that accurate! WTF..

Needless to say it was a big pain in the ass and you are right... they will audit you a few times after the 1st one...

[SAUTO]

yeah but it also sucks that you know you'll be paying like $150,000 more than your actual house costs because of interest

dont finance for 30 years.

[rageeumr]

I sat down and ran some numbers recently, and based on recent trends in college costs, I should be saving between $900 and $1,400 a month if I want to pay for 100% of my kids college. So ya, tax return may end up in their 529 accounts.

[Buehler445]

the audit surrounds my stock options...

The IRS wants me to claim the option at full sale price like lets say 240 shares at $40.00.

Well it is an option so I only own $24.00 of that not all 40.00!!! So instead of $9,000 I only get $5760 which once taxes are taken it is more like $3000 if you are lucky... (just an example)

So I get this letter saying I owe like 50k and I about flip out...

With my tax guy being a MORON he never filed it all that accurate! WTF..

Needless to say it was a big pain in the ass and you are right... they will audit you a few times after the 1st one...

So do you have to file ammended returns with the correct information or what?

Who was your tax guy and why the fuck can he not do taxes?

[loochy]

dont finance for 30 years.

maybe you don't know how much my house cost on a 15

[Rain Man]

I looked at my paycheck today, and it it's interesting. About 35 percent of my gross went to taxes and another 17 went to my IRA, so I got home with less than half my gross pay.

[loochy]

I looked at my paycheck today, and it it's interesting. About 35 percent of my gross went to taxes and another 17 went to my IRA, so I got home with less than half my gross pay.

17 eh? Nice. How much do they match?

[Buehler445]

dont finance for 30 years.

Well, it depends. For people that are regular wage earners and the house is going to be their only major purchase in their lifetime and they are comfortable with the costs of money as long as they can make the payments, it isn't that bad of a deal.

You have to worry about ROI, most regular homeowners don't. And depending on life goals, that can be OK.

[SAUTO]

maybe you don't know how much my house cost on a 15

maybe it doesnt really matter. maybe you spent more than you could REALLY afford.

[Buehler445]

17 eh? Nice. How much do they you match?

Fixed.

[loochy]

maybe it doesnt really matter. maybe you spent more than you could REALLY afford.

How do you know what I can afford? I just don't enjoy paying interest.

[SAUTO]

Well, it depends. For people that are regular wage earners and the house is going to be their only major purchase in their lifetime and they are comfortable with the costs of money as long as they can make the payments, it isn't that bad of a deal.

You have to worry about ROI, most regular homeowners don't. And depending on life goals, that can be OK.

i didnt finance my house for 30 either.

i'm just saying if you want to bitch about the amount of interest paid on a home note shorten the note

[SAUTO]

How do you know what I can afford? I just don't enjoy paying interest.

i dont know what you could afford. again if you dont like paying interest finance it for a shorter period of time.


simple

[loochy]

i dont know what you could afford. again if you dont like paying interest finance it for a shorter period of time.


simple

oh you mean i should put 0 down on a new car and finance it for 5 years?

[DaKCMan AP]

I looked at my paycheck today, and it it's interesting. About 35 percent of my gross went to taxes and another 17 went to my IRA, so I got home with less than half my gross pay.

Damn... 35%?

After 401k contributions, taxes, medical, LTD & HSA contributions I only take home about 55% of my gross.... but 35% aren't to the government.

[Buehler445]

oh you mean i should put 0 down on a new car and finance it for 5 years?

Heh. Coincidentially, I got pretty close to doing this. I ended up putting 2,000 down on a 3 year note and the car was used, but still. I had enough for about half the cost of the car, and the interest rate was so low that it was going to cost me like $200 to hold on to the rest of the cash.

I probably could have got away with nothing down, but they would have had to re-run the application, so I just put 2,000 down. But hell yes I will maintain the ability to access my money for $200 in interest.

[Buehler445]

Damn... 35%?

After 401k contributions, taxes, medical, LTD & HSA contributions I only take home about 55% of my gross.... but 35% aren't to the government.

You have long term disability?

I'm quite a ways removed from the insurance industry, but why LTD? And why not STD with it? If you don't mind me asking. I'm not criticizing, just curious on the logic.

[DaKCMan AP]

You have long term disability?

I'm quite a ways removed from the insurance industry, but why LTD? And why not STD with it? If you don't mind me asking. I'm not criticizing, just curious on the logic.

The company provides STD to all employees. The LTD is an additional option.

[Buehler445]

The company provides STD to all employees. The LTD is an additional option.

Makes sense.

Perhaps I should be looking into that type of insurance since I'm much more likely to need it in my industry than the normal office job, but at this point, I can't justify the cost.

Are you thinking you are protecting yourself against the car wreck/cancer types of risks?

[SAUTO]

oh you mean i should put 0 down on a new car and finance it for 5 years?

i was thinking more like 7 years, and make sure you borrow some money to put some wheels on it too

[DaKCMan AP]

Makes sense.

Perhaps I should be looking into that type of insurance since I'm much more likely to need it in my industry than the normal office job, but at this point, I can't justify the cost.

Are you thinking you are protecting yourself against the car wreck/cancer types of risks?

Any type of long-term risk that would prevent me from working. I travel often, I live an active lifestyle, I sometimes work around large machinery and hazardous material. Anything can happen.

LTD @ 60% of my annual salary if I can't work anymore is worth the 0.4% of my gross salary that's deducted.

[loochy]

Heh. Coincidentially, I got pretty close to doing this. I ended up putting 2,000 down on a 3 year note and the car was used, but still. I had enough for about half the cost of the car, and the interest rate was so low that it was going to cost me like $200 to hold on to the rest of the cash.

I probably could have got away with nothing down, but they would have had to re-run the application, so I just put 2,000 down. But hell yes I will maintain the ability to access my money for $200 in interest.

Well yeah, if you can get a 0% interest deal or something close to that, do it.

You know what I meant.

[loochy]

i was thinking more like 7 years, and make sure you borrow some money to put some wheels on it too

http://victorstires.net/RIMS/CARROS/escalade_corleone.jpg

[Buehler445]

Well yeah, if you can get a 0% interest deal or something close to that, do it.

You know what I meant.

It was 2.0% money and not any special deal or anything. And it is probably a length of loan deal. My buddy looked into financing a car at 6 years instead of 3 and his rates were much higher. I don't remember how long he tied it up for but it wasn't 6.

I just thought it was funny that you were being sarcastic and I just did almost that.

[Buehler445]

http://victorstires.net/RIMS/CARROS/escalade_corleone.jpg

ROFL

[Buehler445]

Any type of long-term risk that would prevent me from working. I travel often, I live an active lifestyle, I sometimes work around large machinery and hazardous material. Anything can happen.

LTD @ 60% of my annual salary if I can't work anymore is worth the 0.4% of my gross salary that's deducted.

I may have to look into that some. Although it is really difficult to calculate what you need over the long term with inflation. I've got probably 40 more years of work left and I have a hard time calculating insurance that far out.

Maybe I'll just keep bought up on life insurance and have my wife throw me into a driveshaft if I can't work anymore.

[DaKCMan AP]

It was 2.0% money and not any special deal or anything. And it is probably a length of loan deal. My buddy looked into financing a car at 6 years instead of 3 and his rates were much higher. I don't remember how long he tied it up for but it wasn't 6.

I just thought it was funny that you were being sarcastic and I just did almost that.

Yeah - when I bought my car I put about half down and then financed 5yrs @ 4.24%. This was through the dealer and necessary to get something like $2500 in rebates. After a couple of months I went and refinanced 3yrs @ 1.99%.

Win.

[Buehler445]

Yeah - when I bought my car I put about half down and then financed 5yrs @ 4.24%. This was through the dealer and necessary to get something like $2500 in rebates. After a couple of months I went and refinanced 3yrs @ 1.99%.

Win.

Nice.

[DaKCMan AP]

I may have to look into that some. Although it is really difficult to calculate what you need over the long term with inflation. I've got probably 40 more years of work left and I have a hard time calculating insurance that far out.

Maybe I'll just keep bought up on life insurance and have my wife throw me into a driveshaft if I can't work anymore.

The 60% is just what's offered through our company LTD option. I'm single with no dependents and, at least right now, 60% of my salary is more than my annual expenses. Once I have a family, dependents, etc. it will all change.

[okoye35chiefs]

So do you have to file ammended returns with the correct information or what?

Who was your tax guy and why the **** can he not do taxes?

Yeah I am all set now and the tax guy gets shit on by the IRS because he is certified. Not for sure but I think IRS gets all over them after a certain amount of errors? If anyone knows I would love to know.. Anyways I fired him..

but just the back and forth with the irs is not something anyone should have to look forward to...

[Buehler445]

Yeah I am all set now and the tax guy gets shit on by the IRS because he is certified. Not for sure but I think IRS gets all over them after a certain amount of errors? If anyone knows I would love to know.. Anyways I fired him..

but just the back and forth with the irs is not something anyone should have to look forward to...

Yeah, they have an obligation to file taxes correctly and I don't know what is an acceptable error for preparers. I'm pretty sure it matters whether he is a CPA or just a certified tax preparer. Either way, he's feeling the pain too.

Your new guy should help you with the IRS. You'll get billed, but I'd let handle it.

[okoye35chiefs]

Yeah, they have an obligation to file taxes correctly and I don't know what is an acceptable error for preparers. I'm pretty sure it matters whether he is a CPA or just a certified tax preparer. Either way, he's feeling the pain too.

Your new guy should help you with the IRS. You'll get billed, but I'd let handle it.

thanks

[Rasputin]

Got my appointment with H&R Block today at noon. Am hoping for a good return I do need it.

[Mr. Flopnuts]

I shouldn't pay as much as I did last year, but any tax savings I'm going to use to purchase lube for next year.

But if you're going to put it towards debt, I wouldn't split it up, I would put the entire portion that you are putting towards debt in the single liability with the highest interest rate.

Best of luck bud.

Smart guy right here. Always pay off the highest interest first. All of it. No division. Less interest will equal more walking around money for your lady.

[Iowanian]

This is the time of year that I'm normally going to the bank to pay my tax deposits and watching people who haven't thought about working in years get their $6k "refund" counted out to them in front of me.

[Mr. Flopnuts]

The company provides STD to all employees.

With this economy believe me, we're all getting gonnasyphaherpaids.

[Mr. Flopnuts]

This is the time of year that I'm normally going to the bank to pay my tax deposits and watching people who haven't thought about working in years get their $6k "refund" counted out to them in front of me.

All for popping out babies! Tell me THAT'S not welfare. :shake:

[loochy]

All for popping out babies! Tell me THAT'S not welfare. :shake:

THEY HAVE A HARD LIFE THEY DESERVE IT OBAMA NO GUNS AND TIP WAITERS!

[Garcia Bronco]

I am always amused by people that don't adjust their taxes so they get no return (where applicable) because that just means you over paid all year and gave the government an interest free loan with nothing to secure said loan with....


Oh and for all the people that haven't noticed.

FICA tax went up roughly 4 percent 1/1/13.

[Rausch]

This is the time of year that I'm normally going to the bank to pay my tax deposits and watching people who haven't thought about working in years get their $6k "refund" counted out to them in front of me.

I keep waiting for the day I get my "you're broke here's your tax break" return...

[Mr. Flopnuts]

THEY HAVE A HARD LIFE THEY DESERVE IT OBAMA NO GUNS AND TIP WAITERS!

LOL You forgot free phones! TO DC!!!

[loochy]

I keep waiting for the day I get my "you're broke here's your tax break" return...

Why should you be rewarded for doing the right thing?

[loochy]

LOL You forgot free phones! TO DC!!!
ring ring ring obamaphone

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[mr. tegu]

We buy the H&R Block Deluxe computer program. It is really easy to use.

[Deberg_1990]

I plan on using alot of it to fund a summer vacation.

[mdchiefsfan]

This is the time of year that I'm normally going to the bank to pay my tax deposits and watching people who haven't thought about working in years get their $6k "refund" counted out to them in front of me.

Moar Babies!!!!!!

[mdchiefsfan]

I plan on using alot of it to fund a summer vacation.

same the rest is going into savings

[Mr. Flopnuts]

For those of you that make under something like 56k and file normal returns, don't pay for it. You don't need too. Check out irs.gov for sites that allow you to file for free.

[Rausch]

Why should you be rewarded for doing the right thing?

Sounds fair to me.

No illegitimate children this year = +1

No dependance on government funds/programs = +1

Worked. Was employed. Did not leach off others to make a living = +1

Those sound like good reasons to me to get a tax break.

I know - I'm a dreamer...

[Mr. Flopnuts]

Sounds fair to me.

No illegitimate children this year = +1

No dependance on government funds/programs = +1

Worked. Was employed. Did not leach off others to make a living = +1

Those sound like good reasons to me to get a tax break.

I know - I'm a dreamer...

Hey, thanks for subsidizing everyone who got preggers from fucking! Your tax money is going to them. Pyramid! You're at the bottom. ;)

[DaKCMan AP]

FICA tax went up roughly 4 percent 1/1/13.

2%

[loochy]

For those of you that make under something like 56k and file normal returns, don't pay for it. You don't need too. Check out irs.gov for sites that allow you to file for free.

I think even TurboTax lets you do it for free if you are under that amount - I think...

It used to when I made less than that.

Another free site is http://www.icanefile.org/

[loochy]

Hey, thanks for subsidizing everyone who got preggers from fucking! Your tax money is going to them. Pyramid! You're at the bottom. ;)

must work way to top of tax pyramid by working way to bottom of society

[Mr. Flopnuts]

I think even TurboTax lets you do it for free if you are under that amount - I think...

It used to when I made less than that.

Another free site is http://www.icanefile.org/

Married folks making a living wage won't qualify, but there's plenty of single fellas around, so it is worth posting.

[Rausch]

Pyramid! You're at the bottom. ;)

Yup.

Guess next year I need to work "harder"...

[SAUTO]

This is the time of year that I'm normally going to the bank to pay my tax deposits and watching people who haven't thought about working in years get their $6k "refund" counted out to them in front of me.

THIS, i just had a guy in here that said he was getting over 9k. he has worked all year doing home improvements. claimed he didnt make a dime...

[Mr. Flopnuts]

Yup.

Guess next year I need to work "harder"...

It irritates me because I watch people get these 6k checks while my developmentally disabled brother in law makes 18k a year and pays a few hundred dollars in federal taxes. Total horseshit.

[Rausch]

It irritates me because I watch people get these 6k checks while my developmentally disabled brother in law makes 18k a year and pays a few hundred dollars in federal taxes. Total horseshit.

I'm in complete agreement.

If he paid more would he really miss it?...

[Mr. Flopnuts]

I'm in complete agreement.

If he paid more would he really miss it?...

LOL

[Garcia Bronco]

2%

This is correct info, my bad...it went from 4.2 to 6.2.

[Nightfyre]

I am all about being a responsible saver and all that jazz. Just when I got 5 year financing at 1.9%, I took that in a snap. Plow that downpayment into my Roth where I can easily beat that rate and not have to pay taxes on the return and the dealership is practically giving me money at that point.

[GloryDayz]

I'm married, so just like my paycheck I won't see any of it. Now....this year I might demand some of it and go buy a huge fucking rifle just to piss-off the liberals. Maybe an AR. Maybe a 30-30 or 30-06!!!

[Rasputin]

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[Mr. Flopnuts]

How'd it go Tattoo? Are you going to be the proud new owner of a PS3? *crossing fingers

[Rasputin]

How'd it go Tattoo? Are you going to be the proud new owner of a PS3? *crossing fingers

I was pretty happy with the results even though it was about what I expected. Waited almost 45 min then another hour to get through it so two hours was a little lerve wracking. That is the longest it's ever taken to get it done just glad it's done. I may end up getting the PS3 but I got take care of some finance obligations first but I'm not as stressed now at least :thumb:

I will be a much happier camper in about two to three weeks :D

[Mr. Flopnuts]

I was pretty happy with the results even though it was about what I expected. Waited almost 45 min then another hour to get through it so two hours was a little lerve wracking. That is the longest it's ever taken to get it done just glad it's done. I may end up getting the PS3 but I got take care of some finance obligations first but I'm not as stressed now at least :thumb:

I will be a much happier camper in about two to three weeks :D

You work hard, brother. I want to see you have some of the things in life that make it fun. I definitely understand financial obligations first though. It keeps the roof over your head.

[BigCatDaddy]

I'm afraid I'll be cutting the IRS about a 10K check this year. Assholes!

[Rasputin]

You work hard, brother. I want to see you have some of the things in life that make it fun. I definitely understand financial obligations first though. It keeps the roof over your head.

On a side note on that I talked to a guy who is going to be taking CDL classes in Hays cost 285 & I may end up going take them classes with him. It's not something I want to do persay, but it maybe my best option going forward at least a few years. My biggest fear in change is after having back surgery two years ago is if my back can take sitting in a truck bouncing around. I was a route sales driver for 12 years and it took a toll on my back for sure but that was do to a bunch of repetive lifting. I'd like to get back on the road but not have to do the lifting.

Thanks again Mr. Flopnuts keeping us in your prayers and thoughts. It does mean a lot and is appreciated.

[TEX]

I'm afraid I'll be cutting the IRS about a 10K check this year. Assholes!

I hear ya! Tax RETURN??? LOL! What's that??? I always end up paying more and never get anything back - even after claiming "Single / 0." I keep hearing something about those "well off" (making $200K +) not paying their fair share but I'm certain that I pay well over mine.

[Buehler445]

On a side note on that I talked to a guy who is going to be taking CDL classes in Hays cost 285 & I may end up going take them classes with him. It's not something I want to do persay, but it maybe my best option going forward at least a few years. My biggest fear in change is after having back surgery two years ago is if my back can take sitting in a truck bouncing around. I was a route sales driver for 12 years and it took a toll on my back for sure but that was do to a bunch of repetive lifting. I'd like to get back on the road but not have to do the lifting.

Thanks again Mr. Flopnuts keeping us in your prayers and thoughts. It does mean a lot and is appreciated.

It all depends on your truck. You may be able to swing it if you get a decent truck.

[Bwana]

I go see my accountant tomorrow to see how badly I'm getting bent over.

http://freemarketlovingcommie.files.wordpress.com/2010/05/latex-gloves-296x405.jpg

[Nightfyre]

Last year, I got like 30 bucks back. I expect I will be cutting Uncle Sam a check this year.

[kcxiv]

pay off a cc bill then buy a good solid tv. no more cheap hd tv's for me. Samsung!

[Coach]

It irritates me because I watch people get these 6k checks while my developmentally disabled brother in law makes 18k a year and pays a few hundred dollars in federal taxes. Total horseshit.

Sounds like to me he doesn't withhold it much. Is he doing a single rate or a single or married, but withhold at a higher single rate?

[Garcia Bronco]

Sounds like to me he doesn't withhold it much. Is he doing a single rate or a single or married, but withhold at a higher single rate?

Yeah..those people getting "6k checks" are dumb asses.

[Mr. Flopnuts]

Sounds like to me he doesn't withhold it much. Is he doing a single rate or a single or married, but withhold at a higher single rate?

He's single and files basic. What I mean by pays a few hundred dollars a year, is while everyone runs around with their 6 grand checks when they've paid usually no more than 2k tops into the system, he gets $70 and pays in $700.

So, since he doesn't have kids he gets to watch everyone that already makes 4 times what he makes run around and spend the money he put into the system that they didn't.

[Mr. Flopnuts]

Yeah..those people getting "6k checks" are dumb asses.

Yeah, because having kids should mean people who don't, can subsidize them through child tax credits. Whatever though, they can all enjoy the welfare. He gets by.

[donkhater]

I get pissed if I owe or get refunded more than $500. My work bonus varies so much that's the best I can do to get within a window. If outside either way, I don't like it.

[Coach]

He's single and files basic. What I mean by pays a few hundred dollars a year, is while everyone runs around with their 6 grand checks when they've paid usually no more than 2k tops into the system, he gets $70 and pays in $700.

So, since he doesn't have kids he gets to watch everyone that already makes 4 times what he makes run around and spend the money he put into the system that they didn't.

Oh I understand that he was filing single and basic. What I was referring to was, if he can do his W-4 and withhold it at a single or married but withhold at a higher single rate, it will take a little bit more of his pay, but at the end, he would almost break even, if not, may get a small refund.

I typically go that route, and add in another $20 of extra withholding if I was single and no kids. Just my opinion.

[Coach]

Yeah..those people getting "6k checks" are dumb asses.

I was specifically talking about people who are single and has no kids in general.

[hometeam]

For the first year ever, I will receive a sizable return. Every penny save for maybe a hundred dollars will go to debt payoff. If everything pans out right, I will have only my mortgage left.

[ModSocks]

Yeah, because having kids should mean people who don't, can subsidize them through child tax credits. Whatever though, they can all enjoy the welfare. He gets by.

Wth does welfare have to do with a child tax credit?

"no, please IRS, keep your $1,000 deduction. That's for those welfare chumps..."

[GoHuge]

No refund for me......beauty of owning your own company. Just hoping to write off as much as I can. The two checks I had to stroke last year sucked fuckin ass. I've gotten a lot better at keeping track of things I can write off as this is year 3 now. I don't own a home because I don't know where I'm going to be in life in 5 years. Doing the renting a nice condo thing now. I don't need all the space of a house and without a family I don't really see the benefit. After interest and personal property tax the house is about a wash with the space and the sweet rental arrangement I have and I love the area I'm in. No maintenance, something breaks they come fix it, and I can give 30 days notice and I'm outta there penalty free. Suits my life for the present perfectly. For those getting a refund enjoy! If I can keep my tax bill from having a 2 in front of it I'll be pumped.

[LoneWolf]

Just totaled out my 2009 GMC Sierra with only two payments left before it was paid off. Any return we receive will be used to help pay off whatever new vehicle we decide to buy.

[ClevelandBronco]

People who don't know the difference between a tax return and a tax refund drive me crazy.

[markd2000]

I'm planning to cut a check to the IRS for about $20,000 in April and couldn't be happier. Why you ask? Well that $20k has been sitting in a tax-exempt bond fund that returned about $800 in tax free interest. It also appreciated about $600, which was a bonus. Now I could have been much more conservative and put it in a money market fund and earned about $200. So the point is, $200 or $1400 - that's money in my pocket. I always withhold the bare minimum needed to avoid getting an under-withholding penalty.

Bonus tax advise: Check out Form 8880. If you make below certain income thresholds, are not claimed as a dependent, born before Jan 1 1995, and not a student, then you can receive a tax credit up to $1000 for contributions up to $2000 to an IRA. That's as much as a 50% match by the government! Go for the Roth. Thats all.

[Jenson71]

People who don't know the difference between a tax return and a tax refund drive me crazy.

I GET REALLY EXCITED ABOUT MY TAX RETURN.

[BWillie]

I make quarterly payments..im already fuked

[ChiefGator]

I'm getting close to $4000 this year for the first time. I usually set my taxes pretty well, so my refunds are < $500. But, this year I got married and we are filing jointly.

Using it to pay off debts... Debt free in 2013.

[Buehler445]

I make quarterly payments..im already fuked

Next year I get to do that. Hooray!

[Omaha]

house principle

That will probably net you a solid 2% return after taxes.

[Garcia Bronco]

Yeah, because having kids should mean people who don't, can subsidize them through child tax credits. Whatever though, they can all enjoy the welfare. He gets by.

I am not even getting into that. They over paid by 6k. That's dumb.

[Mr. Flopnuts]

I am not even getting into that. They over paid by 6k. That's dumb.

I'm talking about people who didn't pay 6k in. At all. They still walk with those 6k checks with their child tax credits. I don't know shit about it, because I don't have kids. I do know people though who don't make 16k a year getting 6k IRS income tax returns because of all of their kids.

[Bwana]

I go see my accountant tomorrow to see how badly I'm getting bent over.



Not bad at all. A $199 refund from the feds and I owed the state $334. I can live with that.

[ModSocks]

I'm talking about people who didn't pay 6k in. At all. They still walk with those 6k checks with their child tax credits. I don't know shit about it, because I don't have kids. I do know people though who don't make 16k a year getting 6k IRS income tax returns because of all of their kids.

It has very little to do with the kids, and everything to do with the EITC. Child tax credit is capped at two kids iirc, so it doesn't matter if you have 2 or 10, you only get credit for two. The rest of that "6K" is from the EITC.....and you have to be working and putting in to get that too....

[Buehler445]

Not bad at all. A $199 refund from the feds and I owed the state $334. I can live with that.

Wanna trade?

[Buehler445]

It has very little to do with the kids, and everything to do with the EITC. Child tax credit is capped at two kids iirc, so it doesn't matter if you have 2 or 10, you only get credit for two. The rest of that "6K" is from the EITC.....and you have to be working and putting in to get that too....

You also have to make a whole lot of not a damn thing and have kids.

[The Franchise]

It has very little to do with the kids, and everything to do with the EITC. Child tax credit is capped at two kids iirc, so it doesn't matter if you have 2 or 10, you only get credit for two. The rest of that "6K" is from the EITC.....and you have to be working and putting in to get that too....

We have 3 kids and got a $3000 tax credit last year. I've never heard anything about it being capped at 2 kids.

[Bwana]

Wanna trade?


Back in the auto broker days, I paid everything at the end of the year. Some of those tax bills were enough to drop a guy dead in his tracks. No more of that crap.

[ModSocks]

You also have to make a whole lot of not a damn thing and have kids.

Well, the program was obviously made for those on the lower income bracket. A husband and wife with 1 child can make up to $40k a year and still be eligible. 40k may not be a lot between 2 people, but they are certainly "putting in".

Lets say you have a married couple with one child. Dad works as much as he can and is pulling in 30K a year while mom is in school.

That family will likely pull in a 6K + Refund or more.

That's no reason to be bitter at them.

[ModSocks]

We have 3 kids and got a $3000 tax credit last year. I've never heard anything about it being capped at 2 kids.

I could be wrong, but i think it's a 2013 thing.

[Buehler445]

Well, the program was obviously made for those on the lower income bracket. A husband and wife with 1 child can make up to $40k a year and still be eligible. 40k may not be a lot between 2 people, but they are certainly "putting in".

Lets say you have a married couple with one child. Dad works as much as he can and is pulling in 30K a year while mom is in school.

That family will likely pull in a 6K + Refund or more.

That's no reason to be bitter at them.

Depends on where you are. If you are paying in a bunch in tax, why should they get a huge break when you don't? That's why people are bitter.

Also I've seen returns that worthless fuckers make 14000 at some pile of shit job, have a kid, live with the parents and just be fucking worthless altogether. IIRC they had <500 withheld and are due a refund of 5500. That's what pisses me off more than anything.

[ModSocks]

I could be wrong, but i think it's a 2013 thing.

Nevermind. I'm wrong. I must've mis-read something. I'll shut up now.

[ThaVirus]

People who don't know the difference between a tax return and a tax refund drive me crazy.

What's the difference, broskino?

[Buehler445]

What's the difference, broskino?

Return = forms sent to IRS calculating total tax liability, payments and what you owe/refund.

Refund = overpayment to IRS.

[luv]

Paying off my car!

[Dante84]

I'm getting 2K back!

My credit card will go to zero balance for the first time since college (I'm 26) and my school loan will be 100% paid off in a single day!!!!

4k left on the car then I'm in the black - FOR GOOD.

:toast:

[hometeam]

For the first year ever, I will receive a sizable return. Every penny save for maybe a hundred dollars will go to debt payoff. If everything pans out right, I will have only my mortgage left.

Did my taxes tonight.. getting back enough to do it. ($3953) Debt can suck it! Now to get this house sold~

[Coach]

Not bad at all. A $199 refund from the feds and I owed the state $334. I can live with that.

That's not bad at all. Generally it's a refund from a federal and owe the state is about the norm these days, unless some people withheld more for the state taxes. I normally add in another $5 withholding for the state, so that way that my bill to the state is low, which is $66 that I owe. I'll be getting a nice refund from the federal.

[SAUTO]

Next year I get to do that. Hooray!

Shit I've been doing that for a while. Sucks
Posted via Mobile Device

[Coach]

Return = forms sent to IRS calculating total tax liability, payments and what you owe/refund.

Refund = overpayment to IRS.

This.

[Bwana]

That's not bad at all. Generally it's a refund from a federal and owe the state is about the norm these days, unless some people withheld more for the state taxes. I normally add in another $5 withholding for the state, so that way that my bill to the state is low, which is $66 that I owe. I'll be getting a nice refund from the federal.

I hear ya. I went in and had the office manager take out an exta $20 a check so I won't have to deal with it next year. My tax lady also called and said there was a glitch in her program and I only owed $94 in state this year, so I expect a $240 refund on the excess state I sent in as well. We'll see how fast that happens.

[Coach]

I hear ya. I went in and had the office manager take out an exta $20 a check so I won't have to deal with it next year. My tax lady also called and said there was a glitch in her program and I only owed $94 in state this year, so I expect a $240 refund on the excess state I sent in as well. We'll see how fast that happens.

Yeah, that's a good thing that you took out the extra $20 a check (I'm assuming both federal and state?), otherwise, the bill would have been fatal for you... lol.

[SAUTO]

Depends on where you are. If you are paying in a bunch in tax, why should they get a huge break when you don't? That's why people are bitter.

Also I've seen returns that worthless fuckers make 14000 at some pile of shit job, have a kid, live with the parents and just be fucking worthless altogether. IIRC they had <500 withheld and are due a refund of 5500. That's what pisses me off more than anything.
This. I'm paying that money to them
Posted via Mobile Device

[Bwana]

Yeah, that's a good thing that you took out the extra $20 a check (I'm assuming both federal and state?), otherwise, the bill would have been fatal for you... lol.

LMAO

Exactly

[RedDread]

Got back $666 federal, maybe they're trying to tell me something...

[lewdog]

Still waiting on a Special K form before I can officially file but based on turbotax I will be getting 5k! Must be because of making decent money but only working 7 months since I graduated in May, meaning I paid a lot of taxes but ended up in a much lower tax bracket. Plus I had some deductions for that money I paid for school. Anyway, pretty jacked about it!

Probably pay a little extra on my student loan, put some extra in my Roth IRA and get my girl a ring!

[El Jefe]

Still waiting on a Special K form before I can officially file but based on turbotax I will be getting 5k! Must be because of making decent money but only working 7 months since I graduated in May, meaning I paid a lot of taxes but ended up in a much lower tax bracket. Plus I had some deductions for that money I paid for school. Anyway, pretty jacked about it!

Probably pay a little extra on my student loan, put some extra in my Roth IRA and get my girl a ring!

Sweet sack, that's freaking awesome brother!

[Buehler445]

Still waiting on a Special K form before I can officially file but based on turbotax I will be getting 5k! Must be because of making decent money but only working 7 months since I graduated in May, meaning I paid a lot of taxes but ended up in a much lower tax bracket. Plus I had some deductions for that money I paid for school. Anyway, pretty jacked about it!

Probably pay a little extra on my student loan, put some extra in my Roth IRA and get my girl a ring!

K-1?

Don't get too hot to trot. K-1 is a form that has to report income. You're income may be higher.

[lewdog]

K-1?

Don't get too hot to trot. K-1 is a form that has to report income. You're income may be higher.

Yea, but it isn't as much as most K-1's. Will only add about 1k to my income as it was a small gift trust I cashed out of.

[Rasputin]

It's my money and I want it now!

[Prison Bitch]

Give my wife a little extra walking around money.


In our family, that's called "an essential item".

[Rasputin]

http://i1228.photobucket.com/albums/ee449/Ghostgem102/Tim%20Roth%20gifs/Timrothwaiting.gif

[Rasputin]

http://i6.photobucket.com/albums/y232/LLSamSam/Gif%20Folder/tumblr_lqo4k7WOyf1qguvft.gif

[Rasputin]

Well it's been 20 days from when I filed my taxes. This is bullshit I know they said it could take up to 21 days but come on really it really has to take that long? Fuck me I want my money to pay my outstanding debts with and everyday I have to wait just makes me more stress about it.


fucking IRS FUCK YOU IT's MY Money and I want it now!


/rant

I want to be in a better mood come this time tomorrow this is ridiculous. I feel like my life is on hold untill I get that return and get things straitened out. Tired of being stress.

[loochy]

Well it's been 20 days from when I filed my taxes. This is bullshit I know they said it could take up to 21 days but come on really it really has to take that long? Fuck me I want my money to pay my outstanding debts with and everyday I have to wait just makes me more stress about it.


fucking IRS FUCK YOU IT's MY Money and I want it now!


/rant

I want to be in a better mood come this time tomorrow this is ridiculous. I feel like my life is on hold untill I get that return and get things straitened out. Tired of being stress.

? I got mine in 5 days.

[The Franchise]

I'm going to have to adjust my shit because the wife and I got back $11,000.

[bobbymitch]

Since I don't have anything taken out for the state or the Feds, I got to pay $1,600 to DC and owed MO zippo! My ETR is below Romney's, so alls good.

[Buehler445]

Well it's been 20 days from when I filed my taxes. This is bullshit I know they said it could take up to 21 days but come on really it really has to take that long? Fuck me I want my money to pay my outstanding debts with and everyday I have to wait just makes me more stress about it.


fucking IRS FUCK YOU IT's MY Money and I want it now!


/rant

I want to be in a better mood come this time tomorrow this is ridiculous. I feel like my life is on hold untill I get that return and get things straitened out. Tired of being stress.

Wouldn't get in a hurry. IRS=fucked up this year.

They still haven't released the form for DPAD yet.

[RedDread]

Anyone else having to wait a long time for their MO return? It's only a few bucks for me but it's annoying. I got my federal back in like 5 days and its been over 20 for state now.

[Rasputin]

WTF?!?WTF?!?WTF?!?WTF?!?WTF?!WTF?!?WHAT THE ****?!?


I just got off the phone with a lady from I.R.S. trying to find out when I'm getting my money. She said I am being "under review" & that I will get a letter in the mail and it could take 45 days.

WTF?!? I don't understand why at all I'd be under review. I keep everything simple as I can.

Has anyone ever been "under review"?

****

my

life

Clown Smile (death warmed over)

I was counting on this money to get my feet underneath me.

[Jewish Rabbi]

I got mine today, if that helps you any.

[loochy]

WTF?!?WTF?!?WTF?!?WTF?!?WTF?!WTF?!?WHAT THE ****?!?


I just got off the phone with a lady from I.R.S. trying to find out when I'm getting my money. She said I am being "under review" & that I will get a letter in the mail and it could take 45 days.

WTF?!? I don't understand why at all I'd be under review. I keep everything simple as I can.

Has anyone ever been "under review"?

****

my

life

Clown Smile (death warmed over)

I was counting on this money to get my feet underneath me.

because they sometimes just pick random people to review or audit

[Rasputin]

because they sometimes just pick random people to review or audit

Well she sounded like I was at fault for something I'd have no clue what so ever for? I'm freaked out because I was counting on that money to get me or closer to sollid ground to stand on this year. I am fucking screwed to pay my debt and was going put half down for my trailer house and not worry about how I'm going pay for it. fuck my life and now this news about fucking Alex Smith fuck my my life.

[loochy]

Well she sounded like I was at fault for something I'd have no clue what so ever for? I'm freaked out because I was counting on that money to get me or closer to sollid ground to stand on this year. I am fucking screwed to pay my debt and was going put half down for my trailer house and not worry about how I'm going pay for it. fuck my life and now this news about fucking Alex Smith fuck my my life.

Chill man. Sometimes it's random and sometimes there is some sort of condition that triggers a deeper review. You'll probably still get your money. Just chillax...it'll be OK.

[cookster50]

Filed this past weekend, got MO return deposited today. Take that RedDead!!! No clue when I'll get Fed.