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Offline BEG

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Taxes
« on: April 12, 2012, 04:12:41 PM »
I just filed our taxes (Fed and stupid ass CA).  After I received the confirmation I was going though all of our mail (it has piled up) and shredding and tossing crap.  AFTER I filed (and it was acepted with in the hour) I found a 1099 misc from a side job my husband did and a 1099-S from the sale of our house.  The 1099-S wont affect anything because I already had the figures on the tax return, I just hadn't checked the 1099-S form box.  You can't write off a loss of a sale of a house anyway, we lost just over $121k. :puke: My mom had mailed them to us in a bubble envelope with some magazines and stuff that had come to her house and I just never opened it.  I could kick myself. 

BUT with the new 1099 misc it will add an addition $4k to our taxes and now I have to file an amended return.  You can't electronically file it either, you have to mail it in.  I'm so pissed at myself.

I am all exhausted now.  I also filed my son's returns (both Federal and Ohio).  Little turd is getting back almost $5k. 
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Offline Chris_

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Re: Taxes
« Reply #1 on: April 12, 2012, 04:14:34 PM »
Oof.  Ouch. :(
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Offline Wineslob

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Re: Taxes
« Reply #2 on: April 12, 2012, 04:14:49 PM »
Probably getting back just over 1k.



 :-)
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Offline Zeus

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Re: Taxes
« Reply #3 on: April 12, 2012, 04:19:15 PM »
Getting an Income Tax refund just means you floated an no interest loan to Uncle Sam.
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Offline obumazombie

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Re: Taxes
« Reply #4 on: April 12, 2012, 04:23:34 PM »
We need a continuum with Taxes on one end, and Texas on the other.
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Offline BEG

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Re: Taxes
« Reply #5 on: April 12, 2012, 04:26:12 PM »
Anyone want to guess how much we paid in total Fed taxes? 
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Offline obumazombie

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Re: Taxes
« Reply #6 on: April 12, 2012, 04:27:17 PM »
Quote from: BEG on April 12, 2012, 04:26:12 PM
Anyone want to guess how much we paid in total Fed taxes? 
If you paid anything close to what we did, it was over $30k.
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Offline DLR Pyro

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Re: Taxes
« Reply #7 on: April 12, 2012, 04:27:25 PM »
Quote from: Zeus on April 12, 2012, 04:19:15 PM
Getting an Income Tax refund just means you floated an no interest loan to Uncle Sam.
yeah, it amazes me every year a guy I work with is so pleased with the refund he gets back.  I told him it is because he is paying too much in his check but he doesn't seem to care.  he likes getting a "gift" from the govt every year.

btw, I have to write out checks totalling 4,300 for Fed and state due to some stock the wife and I sold this year to buy my daughter a car.  I'm waiting for the last possible moment before parting with the $$$.  Wish I could pay them in pennies....
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Offline Splashdown

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Re: Taxes
« Reply #8 on: April 12, 2012, 04:31:07 PM »
Quote from: BEG on April 12, 2012, 04:26:12 PM
Anyone want to guess how much we paid in total Fed taxes? 

According to 0'Bama, nowhere close to your "fair share."  :panic:
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Offline Zeus

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Re: Taxes
« Reply #9 on: April 12, 2012, 04:39:48 PM »
Quote from: DLR Pyro on April 12, 2012, 04:27:25 PM
yeah, it amazes me every year a guy I work with is so pleased with the refund he gets back.  I told him it is because he is paying too much in his check but he doesn't seem to care.  he likes getting a "gift" from the govt every year.

btw, I have to write out checks totalling 4,300 for Fed and state due to some stock the wife and I sold this year to buy my daughter a car.  I'm waiting for the last possible moment before parting with the $$$.  Wish I could pay them in pennies....

capital gains taxes for 2011 are all over the board. If you do this and sell that then the rate is XX but if you do that and sell this the rate is XX, or if you are like me and roll capital gains over into perpetuity. My estate can pay the bill  :yahoo:
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Offline Chris_

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Re: Taxes
« Reply #10 on: April 12, 2012, 04:40:49 PM »
Quote from: Splashdown on April 12, 2012, 04:31:07 PM
According to 0'Bama, nowhere close to your "fair share."  :panic:
I doubt the Obamas ever paid $120k in taxes.  Hell, I don't even think they paid that much for a home that was appraised at $300k.  Tony Rezko probably did their taxes for them in addition to dabbling in a little real estate.
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Offline rich_t

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Re: Taxes
« Reply #11 on: April 12, 2012, 04:46:47 PM »
Quote from: Zeus on April 12, 2012, 04:19:15 PM
Getting an Income Tax refund just means you floated an no interest loan to Uncle Sam.

We had to pay an additional $3k this year (over what was withheld).  Next year that amount will incur a penalty so we had to adjust our W-4s accordingly.

I would rather owe an extra few hundred each year at tax time than get back a huge refund.  I don't care to give the idiotic government an interest free loan.
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Offline BEG

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Re: Taxes
« Reply #12 on: April 12, 2012, 05:27:15 PM »
Quote from: obumazombie on April 12, 2012, 04:27:17 PM
If you paid anything close to what we did, it was over $30k.

Try over four times that. I highly doubt my husband made four times what you made.
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Offline BEG

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Re: Taxes
« Reply #13 on: April 12, 2012, 05:40:58 PM »
Oh and the reason my son is getting that much back is because we paid his college off. We can't claim it because we "make too much money". The college debt was in his name so I wrote it off on his taxes. You only get a percentage of the total amount paid (a percentage of what he made at his job) but I'll be damned if I'm not going to take the credit for him.

DUmmies that cry about the "rich" paying their fair share also need to know that you lose deductions as you make more money too. If one of them were standing in front of me right now I would punch them in the face, then kick them between the legs for good measure.
« Last Edit: April 12, 2012, 05:48:27 PM by BEG »
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Offline DLR Pyro

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Re: Taxes
« Reply #14 on: April 12, 2012, 06:32:22 PM »
Quote from: BEG on April 12, 2012, 05:40:58 PM

DUmmies that cry about the "rich" paying their fair share also need to know that you lose deductions as you make more money too. If one of them were standing in front of me right now I would punch them in the face, then kick them between the legs for good measure.
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Offline BlueStateSaint

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Re: Taxes
« Reply #15 on: April 12, 2012, 06:38:05 PM »
Quote from: DLR Pyro on April 12, 2012, 06:32:22 PM
^5.  I like a woman with spunk.

Same here, and I also H5ed you, BEG. :-*
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Offline NHSparky

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Re: Taxes
« Reply #16 on: April 13, 2012, 09:26:50 AM »
Quote from: BEG on April 12, 2012, 04:26:12 PM
Anyone want to guess how much we paid in total Fed taxes? 

No thanks.  I paid enough all by my widdle lonesome.

The only reason I got anything back was because of the mortgage interest.  Unfortunately, until I have dependents, I am stuck giving Unca Obammy an interest-free loan every year.
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Offline NHSparky

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Re: Taxes
« Reply #17 on: April 13, 2012, 09:29:37 AM »
Quote from: BEG on April 12, 2012, 05:40:58 PM
Oh and the reason my son is getting that much back is because we paid his college off. We can't claim it because we "make too much money". The college debt was in his name so I wrote it off on his taxes. You only get a percentage of the total amount paid (a percentage of what he made at his job) but I'll be damned if I'm not going to take the credit for him.

DUmmies that cry about the "rich" paying their fair share also need to know that you lose deductions as you make more money too. If one of them were standing in front of me right now I would punch them in the face, then kick them between the legs for good measure.

Tell me about it--when I was married and living in CA, before the economy turned to warm runny shit, we made enough to the point where even putting into an IRA for the ex wouldn't have knocked our AGI down any.

And a few years back, I made enough to where that "gimme" that Nancy Pelosi bragged about didn't apply to me, even being married/separate.
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Offline Karin

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Re: Taxes
« Reply #18 on: April 13, 2012, 02:00:42 PM »
I'm too depressed to comment on this subject.  I'm going to go look at LOLcats.  



They're talking dirty in there!   :panic:
« Last Edit: April 13, 2012, 02:03:24 PM by Karin »
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Offline Gina

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Re: Taxes
« Reply #19 on: April 13, 2012, 03:11:54 PM »
Quote from: Karin on April 13, 2012, 02:00:42 PM
I'm too depressed to comment on this subject.  I'm going to go look at LOLcats.  



They're talking dirty in there!   :panic:

I know  :panic:
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Offline Ralph Wiggum

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Re: Re: Taxes
« Reply #20 on: April 13, 2012, 03:30:22 PM »
Only one amended return?  I had to go back five years and file hundreds of corporate returns (obviously for work) because of an adverse IRS ruling that affected them all.  All sorts of different states for real estate LLC's.  That was quite the challenge.

It happens all the time for personal taxes, BEG.  Don't be too down on yourself.
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Offline Gina

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Re: Taxes
« Reply #21 on: April 16, 2012, 10:23:56 AM »
I am thinking we will get back some money........................fingers crossed!
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Offline Eupher

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Re: Taxes
« Reply #22 on: April 16, 2012, 11:37:02 AM »
BEG, I hate to rain on your parade, but what you and your husband paid in federal taxes last year won't even pay for 40 minutes' worth of operating Air Force One.

I'm sure Barry would appreciate the extra cash to get just a wee bit closer to an hour -- that would cover one of his dozens of Dem fund raisers that he's attended.   :whatever:
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Offline obumazombie

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Re: Taxes
« Reply #23 on: April 16, 2012, 11:39:59 AM »
Quote from: Eupher on April 16, 2012, 11:37:02 AM
BEG, I hate to rain on your parade, but what you and your husband paid in federal taxes last year won't even pay for 40 minutes' worth of operating Air Force One.

I'm sure Barry would appreciate the extra cash to get just a wee bit closer to an hour -- that would cover one of his dozens of Dem fund raisers that he's attended.   :whatever:
They're "Fun" raisers. The fundraising is a bonus.
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Offline Eupher

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Re: Taxes
« Reply #24 on: April 16, 2012, 11:40:36 AM »
Quote from: obumazombie on April 16, 2012, 11:39:59 AM
They're "Fun" raisers. The fundraising is a bonus.

But of course.  :thatsright:
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