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Old 01-15-2009, 02:13 PM  
Lono Lono is offline
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Income Taxes
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?
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Old 01-16-2009, 03:49 PM   #91
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Originally Posted by Stewie View Post
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.
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Old 01-17-2009, 10:38 PM   #92
BigMeatballDave BigMeatballDave is offline
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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...
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Old 01-28-2009, 04:12 PM   #93
CrazyPhuD CrazyPhuD is offline
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....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
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Old 01-28-2009, 04:20 PM   #94
R&GHomer R&GHomer is offline
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I haven't gotten mine yet, but Mrs Homer had hers filed on the 15th. Should get our refund Friday.
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Old 01-28-2009, 04:35 PM   #95
Stewie Stewie is online now
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Quote:
Originally Posted by CrazyPhuD View Post
....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.
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Old 01-28-2009, 04:44 PM   #96
The Franchise The Franchise is offline
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Quote:
Originally Posted by CrazyPhuD View Post
....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.
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Old 01-28-2009, 04:45 PM   #97
Chief Henry Chief Henry is offline
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Quote:
Originally Posted by Stewie View Post
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.
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Old 01-28-2009, 06:44 PM   #98
KChiefsQT KChiefsQT is offline
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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!!
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Old 01-28-2009, 06:47 PM   #99
The Franchise The Franchise is offline
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Originally Posted by KChiefsQT View Post
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?
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Old 01-28-2009, 06:55 PM   #100
KChiefsQT KChiefsQT is offline
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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.
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Old 01-28-2009, 06:57 PM   #101
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Originally Posted by KChiefsQT View Post
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?
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Old 01-28-2009, 07:00 PM   #102
KChiefsQT KChiefsQT is offline
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Originally Posted by pestilenceaf23 View Post
How much do you owe if you don't mind me asking?
a lil under $1,000.
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