The Conservative Cave
Current Events => General Discussion => Topic started by: jinxmchue on February 13, 2009, 02:15:36 PM
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We're getting back about $4,000, which will help pay hospital bills from my son's birth. How about you?
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Minimal refund, but that's because I'm careful about not overestimating.
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Minimal refund, but that's because I'm careful about not overestimating.
Same here.
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I take considerable care to ensure that I owe a little bit - usually around $1,000 or less, typically - on April 15th. I am not interested in giving the government an interest free loan out of the hard earned sweat of MY brow.
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Owe a small amount on State.
Getting back more than I like on Federal. I mis-calculated somewhere.
But with me being laid off, that refund might come in real handy for living expenses.
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No state tax, but for my meager income, I'm still having to pay in. Thank God, it's not a whole lot. I guess I need to find a good tax accountant.
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I'm getting almost $1700 back. The deduction for school tuition is what made it so high, I forgot to adjust my withholding to account for it.
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No state tax, but for my meager income, I'm still having to pay in. Thank God, it's not a whole lot. I guess I need to find a good tax accountant.
There's a guy a few of the sales guys here use. He's a little shady but he'll make sure you don't owe anything.
Note: I don't use him, I do them myself with TurboTax.
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I lot of folks are pleased when they get a big tax refund. What they fail to understand is that they gave the Fed a forced interest free loan on that money.
I try to get back as little as possible or even owe a small amount. I'd rather have the use of that money on a monthly basis instead of having the Fed give back part of what they stole from me at the end of the year.
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There's a guy a few of the sales guys here use. He's a little shady but he'll make sure you don't owe anything.
Note: I don't use him, I do them myself with TurboTax.
How long have you been using TurboTax? I've been using it for several years and I'm starting to dislike the GUI.
They seem to change it every year and it has, for me anyway, become more difficult to navigate over the years.
I'm thinking of trying TaxAct next year.
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I haven't filed 2007 yet. I have been waiting to see if my weird estranged daughter-in-law was going to pay me back the money I gave her. I've supported my Little Angel for all her years. My son (her father) does everything he can. My son did not try to claim my Little Angel when he filed. My daughter-in-law did.
I could screw her around big time. We are talking about $10,000. All I have to do is file and claim Little Angel. I have the right. She lived with me.
I can't do it. I cannot screw up her life. She is trying to be a good mother. My Little Angel loves her so much.
I hate myself.
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We're getting back about $4,000, which will help pay hospital bills from my son's birth. How about you?
You aren't "getting" squat. Giving you back your own money with zero % interest is not "Getting." It just means you used the US Govt. to create a non-interest bearing savings account.
The idea is to be as close to ZERO as possible for both State and Federal income tax "refunds."
And in California, they don't equivocate -- they will be stealing the taxpayer's money that is due back to them. Can you imagine going to a store and giving them a $20 for a $17.50 item and then not getting your change?
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I only made $4,075 taxable income this year. Don't owe the :bird: feebs a thing this year. Unfortunately I'm not getting anything back.
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I only made $4,075 taxable income this year. Don't owe the :bird: feebs a thing this year. Unfortunately I'm not getting anything back.
You haven't learned to work the system. Any Welfare Queen will tell you to contact a sibling, cousin, etc. and claim 2 of their kids to get the $5K EIC.
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Refund????
What's that?
It's something that comes to those who don't have to file/pay QUARTERLY, BC. I heard about something like that, a long time ago.
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You haven't learned to work the system. Any Welfare Queen will tell you to contact a sibling, cousin, etc. and claim 2 of their kids to get the $5K EIC.
That would be my sister and her POS husband. They're getting back $3,500 because they have a kid. They mooch of welfare like it's going out of style. Despite the fact they're both fairly healthy and capable, they made $800 dollars this year.
Of course, seeing as they're both druggies, I shouldn't be surprised.
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Last year my wifes ENTIRE salary went to pay taxes, along with a good chunk of mine.
Freakin' thieves.
And they say that the 13th and 14th amendments abolished slavery in the United States. Guess they never teach this in school.
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And they say that the 13th and 14th amendments abolished slavery in the United States. Guess they never teach this in school.
You speak as if the 16th amendment was validly passed.
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You aren't "getting" squat. Giving you back your own money with zero % interest is not "Getting." It just means you used the US Govt. to create a non-interest bearing savings account.
The idea is to be as close to ZERO as possible for both State and Federal income tax "refunds."
And in California, they don't equivocate -- they will be stealing the taxpayer's money that is due back to them. Can you imagine going to a store and giving them a $20 for a $17.50 item and then not getting your change?
That's much easier said than done. Especially when we live in one state, and I work in another. We upped withholding to the point where we don't owe money to one state...but always end up owing to the other somehow. If it was always the same state, we could just increase withholding in that state and then claim another dependant...but it isn't. Last year, I thought we finally had it down about right and knew which state we'd owe...and it was backwards. We got a big refund from one state, and had to pay the one that I thought I had nailed down. :banghead: :banghead: :banghead: I'm ready to just let the feds borrow all that money for free because it's so much easier than trying to figure out what the :censored: the states are doing!
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$1100 from the fed and a $100 IOU from the wonderful state of Kalifornia.
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I lot of folks are pleased when they get a big tax refund. What they fail to understand is that they gave the Fed a forced interest free loan on that money.
I try to get back as little as possible or even owe a small amount. I'd rather have the use of that money on a monthly basis instead of having the Fed give back part of what they stole from me at the end of the year.
Maybe you fail to realize that a $5,000 lump sum is better then an extra $100 a week to some people.
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Maybe you fail to realize that a $5,000 lump sum is better then an extra $100 a week to some people.
You are correct. I fail to realize that.
Explain it to me.
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I will get back a few hundred dollars. My dad passed away last year. As POA, I had my name on his checking account, CD and money market account. I transferred money into my account for his bills, sitters and nursing home. I just hope I don't get audited. Going to file a return for him. He won't owe anything; I screwed up by not cashing in the CD at the end of the year rather than waiting till April of 09.
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$1100 from the fed and a $100 IOU from the wonderful state of Kalifornia.
Have you informed the state of Kalifornia that you'll be charging 13.99% interest?
I used to do crazy shitte like that until my accountant finally told me to stop or get someone else to do my stuff.
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You are correct. I fail to realize that.
Explain it to me.
A $5,000 lump sum is better then an extra $100 a week to some people.
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A $5,000 lump sum is better then an extra $100 a week to some people.
So you said.
I was hoping you would explain the "why"
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So you said.
I was hoping you would explain the "why"
For me it is personal preference, a nice little bonus at the end of the year.
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For me it is personal preference, a nice little bonus at the end of the year.
Bonus?
Not in my book. You made a forced intersest free loan.
You merely got back a portion of your slave wages.
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Bonus?
Not in my book. You made a forced intersest free loan.
You merely got back a portion of your slave wages.
It's not forced if I set up my deductions that way - as I said for ME it is a personal preference. You are, of course, free to do as you please.
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It's not forced if I set up my deductions that way - as I said for ME it is a personal preference. You are, of course, free to do as you please.
Of course it is a forced payment.
You don't have a choice. You either pay taxes or go to prison for failure to do so (unless you are an Obama cabinet selectee)
The best you can do, is mitigate the amount you are forced to pay via goverment approved deductions.
But your income tax payments are NOT voluntary.
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I got $400 back from the federal government and I owe the state of Arizona a whopping $37. :whatever:
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Of course it is a forced payment.
You don't have a choice. You either pay taxes or go to prison for failure to do so (unless you are an Obama cabinet selectee)
The best you can do, is mitigate the amount you are forced to pay via goverment approved deductions.
But your income tax payments are NOT voluntary.
Are you normal or do you have some kind of staff in white coats that follow you around??
Of course PAYING taxes is forced, what is not forced - and by the way what we were talking about - is how you recover or don't recover any tax payments that are over your normal "fair share." Again I choose to pay in just that little bit extra that you call a: "interest free loan," and I call a "little bonus." If it makes you feel better I'll call it a self-paid bonus in the future.
My point is simply that just because some people get some back does not necessarily make them misinformed, stupid, or crazy.
Again you can do as you please, and so can I.
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Are you normal or do you have some kind of staff in white coats that follow you around??
Of course PAYING taxes is forced, what is not forced - and by the way what we were talking about - is how you recover or don't recover any tax payments that are over your normal "fair share." Again I choose to pay in just that little bit extra that you call a: "interest free loan," and I call a "little bonus." If it makes you feel better I'll call it a self-paid bonus in the future.
My point is simply that just because some people get some back does not necessarily make them misinformed, stupid, or crazy.
Again you can do as you please, and so can I.
I beg your pardon, but where did I call them misinformed, stupid, or crazy? (hint: I didn't)
I was merely expressing an opinion, just as you are now.
I don't mind disagreement RC, but I won't tolerate you or anyone else accusing me of that which I have not said.
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I beg your pardon, but where did I call them misinformed, stupid, or crazy? (hint: I didn't)
I was merely expressing an opinion, just as you are now.
I don't mind disagreement RC, but I won't tolerate you or anyone else accusing me of that which I have not said.
You stated clearly that people fail to realize what you see as a forced zero interest loan. I simply stated an alternate opinion. Sorry if my language is too strong for you but when you use a blanket statement you must expect someone may take exception being covered by it.
Have a good night...
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We are getting almost $8000.00 back. I know we should have less withheld but we have two issues...
1. I am not very fiscally responsible. Our refunds go into investment accounts, if I had to withhold that much from paychecks it would never happen.
2. Three years ago we tried withholding the minimum amount and ended up being $5000.00 short at tax time. I never ever ever want to have to come up with $5000.00 that quickly again.
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You stated clearly that people fail to realize what you see as a forced zero interest loan. I simply stated an alternate opinion. Sorry if my language is too strong for you but when you use a blanket statement you must expect someone may take exception being covered by it.
Have a good night...
What I posted in that regard is an undisupted FACT.
Any Federal refund is what I said it was.
But I never called those that get one, misinformed, stupid, or crazy.
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What I posted in that regard is an undisupted FACT.
Any Federal refund is what I said it was.
But I never called those that get one, misinformed, stupid, or crazy.
You don't pay attention well do you?
I am disputing your undisputed fact.
If I choose to take the zero interest loan then it is by definition not forced, so it is not what you say it is.
And again sorry for my choice of words. Will that be enough for you or would you like me to say it again in the next post?
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You don't pay attention well do you?
I am disputing your undisputed fact.
If I choose to take the zero interest loan then it is by definition not forced, so it is not what you say it is.
And again sorry for my choice of words. Will that be enough for you or would you like me to say it again in the next post?
You are ok with giving your money to the government, in the hope that you migjt get some of it back?
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I will be getting 26,429 back.
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Is that in pennies?
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I will be getting 26,429 back.
Well it's more like 264.29 I was just stirring things up a little bit. :tongue:
I am on the bubble of being able to itemize, still working on it.
There have been a few years when I owed the IRS money due to some self employment stuff and not being able to pay my taxes on time. You just never know who is going to send you a 1099. :-)
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I have sent in a butt load of money and I will probably still owe some more when my accountant gets done. No state taxes though.
KC
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No state taxes though.
KC
God bless Texas.
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We are getting almost $8000.00 back. I know we should have less withheld but we have two issues...
1. I am not very fiscally responsible. Our refunds go into investment accounts, if I had to withhold that much from paychecks it would never happen.
2. Three years ago we tried withholding the minimum amount and ended up being $5000.00 short at tax time. I never ever ever want to have to come up with $5000.00 that quickly again.
Have you ever thought about taking 1/2 or more of that overpayment and buying stocks on a monthly basis. You can buy many blue chip stocks direct thru the company without going thru a broker with out any fees charged. I used to do that with Exxon; I think companies like Coke and Johnson & Johnson offer that type of plan also. You can sell your stock at any time and incur no cost selling either. Dollar cost averaging is a much better alternative than dumping all of it in stocks at one time.
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Have you ever thought about taking 1/2 or more of that overpayment and buying stocks on a monthly basis. You can buy many blue chip stocks direct thru the company without going thru a broker with out any fees charged. I used to do that with Exxon; I think companies like Coke and Johnson & Johnson offer that type of plan also. You can sell your stock at any time and incur no cost selling either. Dollar cost averaging is a much better alternative than dumping all of it in stocks at one time.
We also have part of hubby's paycheck taken out before we get it and we have automatic withdraws from our bank accounts buying diversified stuff (stocks, oil shares, gold). The tax refund goes into an IRA.
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How long have you been using TurboTax? I've been using it for several years and I'm starting to dislike the GUI.
They seem to change it every year and it has, for me anyway, become more difficult to navigate over the years.
I'm thinking of trying TaxAct next year.
For 10 or 12 years. I've never had any problems with it.
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You stated clearly that people fail to realize what you see as a forced zero interest loan. I simply stated an alternate opinion. Sorry if my language is too strong for you but when you use a blanket statement you must expect someone may take exception being covered by it.
Have a good night...
Ir isn't a forced zero interest loan -- just a zero interest loan. Just take 20 or 50 bucks each paycheck and throw it into a drawer. Or, as I do, open an interest-bearing savings account and transfer money every paycheck there.
But that does take financial discipline.
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Ir isn't a forced zero interest loan -- just a zero interest loan. Just take 20 or 50 bucks each paycheck and throw it into a drawer. Or, as I do, open an interest-bearing savings account and transfer money every paycheck there.
But that does take financial discipline.
Most savings accounts for small amounts charge a fee, on top of paying less then 1%. In some cases you are better off with the money in the drawer! :-)
I'm lucky to have a post tax savings account through work, last year the rate closed at 3.8%
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Most savings accounts for small amounts charge a fee, on top of paying less then 1%. In some cases you are better off with the money in the drawer! :-)
I'm lucky to have a post tax savings account through work, last year the rate closed at 3.8%
You can get the fees waived -- but the % can be small. But better for you to get a little than the gummit get it all.