Ticked bout my taxes....

Well, just checked "Whar's my refund?" and supposedly they deposited it yesterday and it should be there by the 19th. Nice. Still took them over 3 weeks though, when it was filed in January! I'm predicting a nice long wait for last minute filers this year.
 
[quote name='mtxbass1']Honest questions for you cheapest. How much money do you think we send to other countries? How much of your tax dollars do you think goes towards "giving away the farm?"[/QUOTE]
My answer to both is too much. Even giving one dollar away to a foreign country when we have sick and poor here who could better use our help is a travesty to me.
 
[quote name='nasum']Looks like my planning wasn't bad, $80 fed return and $3 state return![/QUOTE]
I got like 15x what you got back. You must suck at doing taxes! :D
[quote name='IAmTheCheapestGamer']My answer to both is too much. Even giving one dollar away to a foreign country when we have sick and poor here who could better use our help is a travesty to me.[/QUOTE]
Funny, I don't remember you being one of those people that supported stronger social safety nets and a more equitable health care system from your time in vs. Your screed on $500 toilet seats and "illegals" only reinforces that. But please correct me if I'm wrong.
 
hey it could be worse.. you could paid someone to do your taxes last year and then say your federal payments were going to state and have your taxes all fucked up like my stupid sob did

probally end up owning fed 1800 and state 600 again since taxes dont come out of my paychecks
 
I'm a firm believer that the US should have the same system for healthcare that the UK and Canada have, as opposed to people having to pay gouged healthcare premiums here only for those companies to deny coverage if you use the plan too much to try and get your money's worth out of it.
 
As an accounting major I love tax time. Sooo many people I know used to go pay over $100 to get their taxes done. Last year they started asking if I'd do them, I did 10 peoples and got $500. People are really intimidated by the tax forms and are scared that any small mistake will result in the IRS at their door. Such easy money.
 
[quote name='dohdough']Lucky for you because they can. A simple extention is enough, not to mention that you still have until April 15th. You're welcome!:D[/QUOTE]

Actually I believe taxes are due on April 17 this year due to some obscure federal holiday that falls on the w/e so they observe on a Monday
 
[quote name='dohdough']I got like 15x what you got back. You must suck at doing taxes! :D
[/QUOTE]

I get a decent amount back as well. I always claim 0 rather than 1 on my W2 though. I'm too lazy to do much with my money anyway, and with online savings rates being so low I don't mind not having that little extra money in my bank throughout the year.

Kind of nice to get a grand or two back each year to throw at debt etc. for someone like me who doesn't very actively manage their money. Plus it's some buffer to avoid paying tax on self employed income for some small consulting projects here and there etc. Just lowers my refund most years vs. having to hassle with quarterly payments etc.
 
[quote name='GuilewasNK']Has anyone been able to get a status on the IRS "where is my refund" site? It still says it can't find info for mine.[/QUOTE]

The IRS came out several days ago and said that they were having problems with that tool. I wouldn't expect it to work for a while.

Did you e-file?

I filed my taxes last Thursday 2/9 and got my refund direct deposited back today. My state taxes came in yesterday.
 
[quote name='mtxbass1']The IRS came out several days ago and said that they were having problems with that tool. I wouldn't expect it to work for a while.

Did you e-file?

I filed my taxes last Thursday 2/9 and got my refund direct deposited back today. My state taxes came in yesterday.[/QUOTE]


I e-filed via Turbo Tax on Feb 2nd. Got my state refund back, but not federal.
 
[quote name='GuilewasNK']Has anyone been able to get a status on the IRS "where is my refund" site? It still says it can't find info for mine.[/QUOTE]

Yup. They're just being slow as shit this year. Took a few weeks to get a status to appear.
 
One thing that always makes me laugh around tax time is how nuts some people go with splurging with their refunds. They act like it's free money they're getting back from the government, when in fact it's just money that was withheld from their paychecks in error and it's the gov't giving them back their OWN MONEY.

People buy huge TV's and cars n shit with this money, but what would they have done with this money if the gov't hadn't had ahold of it for the last year? Most likely they would've spent it on something very conservative, like paying their monthly bills with it.
 
[quote name='IAmTheCheapestGamer']One thing that always makes me laugh around tax time is how nuts some people go with splurging with their refunds. They act like it's free money they're getting back from the government, when in fact it's just money that was withheld from their paychecks in error and it's the gov't giving them back their OWN MONEY.

People buy huge TV's and cars n shit with this money, but what would they have done with this money if the gov't hadn't had ahold of it for the last year? Most likely they would've spent it on something very conservative, like paying their monthly bills with it.[/QUOTE]

Agreed. We're using it towards converting our heat from oil to gas. Money well spent IMO.
 
[quote name='IAmTheCheapestGamer']One thing that always makes me laugh around tax time is how nuts some people go with splurging with their refunds. They act like it's free money they're getting back from the government, when in fact it's just money that was withheld from their paychecks in error and it's the gov't giving them back their OWN MONEY.

People buy huge TV's and cars n shit with this money, but what would they have done with this money if the gov't hadn't had ahold of it for the last year? Most likely they would've spent it on something very conservative, like paying their monthly bills with it.[/QUOTE]

I prefer it as a 'slpurge'... by my math, getting my tax refund money with my paychecks makes a difference of $30-40 a check. When I get lil' bumps like that in my pay, I normally put 30-40% into savings and the rest toward random things- impulse game buying, anime preorders, junk food. Getting it as a big chunk results in more going into savings (50-60%), and the rest getting spent on something better than random junk. I bought a new mattress this year.
 
As I said, I'm not that active in managing my money--though I don't waste it either. I work a lot, so other than eating/drinking out I don't spend a ton of money on random stuff.

So I like getting the extra withheld and then I get a big chunk of change at once that I can just throw in my retirement accounts, or make a big extra payment on principle on my car loan (which will be gone when I get my refund this year) or student loans etc.

Like DuelLadyS, if I got it here and there in each paycheck it would just end up in savings, or spent, so it works out better for me to claim 0 and get more withheld. And gives the buffer for anything owed for non-taxed consulting income etc.
 
The fact that you want to buy a PS3 with your tax refund demonstrates the irrationality of your thinking (not an insult! Just speaking in economic terms).

We do mental accounting in which we treat different forms of income in different ways, even though rational economic theory says we should treat all income the same.

The "rational" thing to do would be to set your withholding so that you owe or are owed zero dollars at the end of the year.

Another strategy may be to set your withholding to zero so that you can save and invest your money in safe bonds, and then pay your taxes at the end of the year. This can be difficult to do for the undisciplined.

I must admit, that tax refund does feel like "free" money, though.
 
Anything that wasn't in your check on payday should be considered gone forever. If you get anything back from the state or local government, consider like winning a contest.

These entities can change the rules any time the whim strikes them. If you look upon the withheld funds as a loan to a reliable partner, you may be in for a dire disappointment.

If you don't like it, change how your employer handles your payroll taxes, but be prepared for what you need to pony up in April. Taking control of your life means also taking the responsibilities.
 
I paid mine last night through H&R Block online. Since I only worked 11 months last year I made about 10,000 less. Yet somehow my refund was double what it was last year...? Extra tax deduction of another kid, I guess.
 
[quote name='eldergamer']I paid mine last night through H&R Block online. Since I only worked 11 months last year I made about 10,000 less. Yet somehow my refund was double what it was last year...? Extra tax deduction of another kid, I guess.[/QUOTE]
The extra kid would add to your deductions and less income could put you at a lower marginal rate.

But the real question is what kind of work you do where you earn $10k a month and where can I get some of that sweet stuff.
 
[quote name='dohdough']The extra kid would add to your deductions and less income could put you at a lower marginal rate.

But the real question is what kind of work you do where you earn $10k a month and where can I get some of that sweet stuff.[/QUOTE]

I work as a medical technologist.

I guess I earn $4k-$5k per month I forgot about that extra $5,000 last year from a relative's passing.

Doing the taxes online was pretty easy and about 1/2 the cost of taking it into those H&R block kiosks you see set up in your grocery store or mall. (Which is what we usually do)
 
[quote name='eldergamer']I work as a medical technologist.

I guess I earn $4k-$5k per month I forgot about that extra $5,000 last year from a relative's passing.

Doing the taxes online was pretty easy and about 1/2 the cost of taking it into those H&R block kiosks you see set up in your grocery store or mall. (Which is what we usually do)[/QUOTE]
I thought you said you had me on ignore.;)

Sorry to hear about your loss though. My sincere condolences.
 
You are on ignore. but I can still choose to read each post on a case by case basis.

Which, are usually reminders of why you need to be on ignore.
 
[quote name='eldergamer']You are on ignore. but I can still choose to read each post on a case by case basis.

Which, are usually reminders of why you need to be on ignore.[/QUOTE]
Hahahaha...yeah...ok.:roll:

Thanks for telling me how the ignore feature works. I guess I just don't feel a need to censor myself from people, because I have a modicum of self-control.
 
[quote name='GuilewasNK']Finally got info on the IRS site. The said to expect my refund to be deposited on Feb 24th.[/QUOTE]

Same. Just checked my bank account and I have a pending transaction for $1,600+

That'll be a nice boost for my savings account
 
Just e-filed yesterday evening, and according to the schedule at the tax preparer's office, my refund should be deposited either on 03/01/12 or 03/02/12. We'll see if that pans out or not.
 
man the NO Earned work credit really hurts (seems last year 2010) was the last year they offered it..

after making 1600 bucks in payments to fed and 0 to state i owe



204 to fed (pushing the year to 1804)
444 to state (pushing the year to 444)

and i now have to make state payments

FED is 475
State is 111

meaning i need to come up with 1122 by tax time OUCH


I think that is still high

made 28742 total but then 6000 of that went out in gas. 2300 of that went out in insurance add 2500 for taxes and 1000 for car insurance knocks me down to 16000 and that is before bills :(
 
[quote name='gpgorbosjr']IRS kept estimating Feb 8th I'd get my check. Then the 7th they change it to 6 weeks after return accepted (2-3 more weeks).

I wanna buy a PS3 :([/QUOTE]

dude, I just had the state of michigan tell me I don't make enough money to qualify for my home and heating credit so I just got screwed out of 624 in my check and about 140 to my natural gas company. Talk about never getting something, ya know?
 
Have got all my refunds (state and federal) and just paid off my car loan and put the remaining $700 or so into savings.
 
[quote name='dmaul1114']Have got all my refunds (state and federal) and just paid off my car loan and put the remaining $700 or so into savings.[/QUOTE]Well done. :applause:
 
Got my refund in about 8 days. direct deposit.

After buying a new memory foam mattress and maybe paying off another credit card, it will probably just sit in the savings account generating interest.
 
[quote name='dmaul1114']Have got all my refunds (state and federal) and just paid off my car loan and put the remaining $700 or so into savings.[/QUOTE]
I remember the day I paid off my car. The relief of not having to pay out $400-500(I paid extra) every month was a great feeling.
 
[quote name='dohdough']I remember the day I paid off my car. The relief of not having to pay out $400-500(I paid extra) every month was a great feeling.[/QUOTE]

Indeed. Though my payment was $365 and I'll just start putting most of that toward my student loans.

But still nice!
 
It's called the Making Work Pay Credit, slidecage, not whatever the fuck you called it.

[quote name='dohdough']I remember the day I paid off my car. The relief of not having to pay out $400-500(I paid extra) every month was a great feeling.[/QUOTE]

We're planning on paying off the mortgage as quickly as possible so we can have the relief of not having to pay ~$1200/month. That's gonna be HUGE.
 
[quote name='Dead of Knight']It's called the Making Work Pay Credit, slidecage, not whatever the fuck you called it.[/quote]
LOLZ...gotta love slidecage...

We're planning on paying off the mortgage as quickly as possible so we can have the relief of not having to pay ~$1200/month. That's gonna be HUGE.
Click to expand...

[quote name='dmaul1114']Indeed. Though my payment was $365 and I'll just start putting most of that toward my student loans.

But still nice![/QUOTE]
Yeah...fuck paying interest am I right!:D
 
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