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02-02-2013, 02:53 PM
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#26
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Lifer
Join Date: Feb 2003
Location: ny
Posts: 12,871
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i may end up owing this year, not good!
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02-02-2013, 02:58 PM
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#27
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Elite Member
Join Date: Oct 1999
Location: Lexington, KY
Posts: 33,923
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Quote:
Originally Posted by Fritzo
No, we would have to decrease the number of dependents listed or something. After all of our deductions our effective tax rate hovers between 0% and 2%.
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401k and HSA are taken out PRE-TAX. If you put more in those, there will be less taxable income to tax so there would be less taken out.
__________________
University of Kentucky Wildcats!
Go Big Blue...Go Big Blue...Go Big Blue!!!
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02-02-2013, 03:01 PM
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#28
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Lifer
Join Date: Jun 2003
Posts: 22,272
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You gave uncle Sam an interest free loan! Better to get refund than to owe though. Ideal tax return is $0
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02-02-2013, 03:05 PM
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#29
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Elite Member
Join Date: Oct 1999
Location: Lexington, KY
Posts: 33,923
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Quote:
Originally Posted by Fenixgoon
You gave uncle Sam an interest free loan! Better to get refund than to owe though. Ideal tax return is $0
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True but at current interest rates, it matters little.
I looked at the money sweep on my IRA's yesterday and it was running at 0.01% for all levels of money from 0 to over $1,000,000.
__________________
University of Kentucky Wildcats!
Go Big Blue...Go Big Blue...Go Big Blue!!!
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02-02-2013, 03:06 PM
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#30
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Diamond Member
Join Date: Oct 1999
Posts: 4,621
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Quote:
Originally Posted by Fenixgoon
You gave uncle Sam an interest free loan! Better to get refund than to owe though. Ideal tax return is $0
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I keep mine at the max owed without a penalty. In my opinion, that's ideal.
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02-02-2013, 03:09 PM
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#31
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No Lifer
Join Date: Dec 2000
Location: Northern IL
Posts: 58,358
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Quote:
Originally Posted by dmcowen674
What county are you in? They've been salting like crazy here at the edge of Cook and Kane.
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I live in Dekalb county.
When i took my daughter into town for gymnastics (at 9) they had plowed but not salted. i just got back from picking her up and they had salted. the roads were clear.
well all but the 2 i live on lol they are nasty.
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Zombie Crew member! I WILL SURVIVE!
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02-02-2013, 03:19 PM
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#32
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Diamond Member
Join Date: Apr 2006
Posts: 4,827
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I dunno how I'd figure things out well enough to hit the zero refund or the "you owe but not enough for penalties" line. A large proportion of my income is bonuses and stock based so I don't know what that will be. Amt, income phaseouts of deductions, yadda yadda. It all seems way too complicated.
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schneiderguy is my bitch.
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02-02-2013, 03:23 PM
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#33
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Lifer
Join Date: Aug 2007
Location: In Memory
Posts: 14,969
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going to owe 5k this year. i don't even have any to give them lol. do they accept credit cards as a form of payment?
OP, congrats on the money. buy a new tv.
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goodbye
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02-02-2013, 03:26 PM
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#34
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Administrator
Discussion Club Moderator
Elite Member
Join Date: Oct 2000
Posts: 39,862
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Quote:
Originally Posted by Dirigible
I dunno how I'd figure things out well enough to hit the zero refund or the "you owe but not enough for penalties" line. A large proportion of my income is bonuses and stock based so I don't know what that will be. Amt, income phaseouts of deductions, yadda yadda. It all seems way too complicated.
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Without predictably income and expenses, it would require constant revision quarterly and you still will not make out at zero range of any unexpected difference shows up in the last quarter.
__________________
F15 Air Superiority Fighter - Never has one been lost in aerial combat (104 kills)
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02-02-2013, 03:29 PM
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#35
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Lifer
Join Date: Feb 2004
Posts: 22,576
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Quote:
Originally Posted by Engineer
Yes, it does.
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I knew I was setting myself up for exactly that 
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02-02-2013, 03:32 PM
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#36
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Lifer
Join Date: May 2003
Location: Canada
Posts: 20,651
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I can't wait to see how much I get back. First year of working shifts and having lot of variable pays. That tends to create good tax returns. Though I think there's still lot of variables and it could go the other way. I just hope I don't end up having to pay. That always sucks.
__________________
~Red Squirrel~
That if you confess with your mouth, "Jesus is Lord," and believe in your heart that God raised him from the dead, you will be saved. For it is with your heart that you believe and are justified, and it is with your mouth that you confess and are saved. Romans 10:9-10
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02-02-2013, 03:33 PM
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#37
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Diamond Member
Join Date: Feb 2001
Posts: 5,767
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Quote:
Originally Posted by Nintendesert
You're a dumbass.
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You're close ... he's a double dumb-ass. Those that get refunds (unless you make almost no money) AND brag about it are fools. They forget that the "refund" is actually monies that they have overpaid, that were due them ... and are being refunded at 0% interest.
I'm sure that I will get some flack on this ... but how do you argue with a moron? I guess it's like wrestling a greased pig ...
__________________
The mind is its own place, and in itself can make a heaven of hell, a hell of heaven.
First the parents take care of the children ... then the children take care of the parents.
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02-02-2013, 03:49 PM
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#38
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Lifer
Join Date: May 2003
Location: Canada
Posts: 20,651
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Quote:
Originally Posted by dud
You're close ... he's a double dumb-ass. Those that get refunds (unless you make almost no money) AND brag about it are fools. They forget that the "refund" is actually monies that they have overpaid, that were due them ... and are being refunded at 0% interest.
I'm sure that I will get some flack on this ... but how do you argue with a moron? I guess it's like wrestling a greased pig ...
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It's still better than having to dish out thousands of dollars that will be completely wasted instead of being used to buy something, thus stimulating the economy. Look at it as a savings plan.
__________________
~Red Squirrel~
That if you confess with your mouth, "Jesus is Lord," and believe in your heart that God raised him from the dead, you will be saved. For it is with your heart that you believe and are justified, and it is with your mouth that you confess and are saved. Romans 10:9-10
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02-02-2013, 03:50 PM
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#39
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Lifer
Join Date: Oct 2009
Location: S.C.
Posts: 16,035
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Quote:
Originally Posted by dud
You're close ... he's a double dumb-ass. Those that get refunds (unless you make almost no money) AND brag about it are fools. They forget that the "refund" is actually monies that they have overpaid, that were due them ... and are being refunded at 0% interest.
I'm sure that I will get some flack on this ... but how do you argue with a moron? I guess it's like wrestling a greased pig ...
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Actually, I should get about $30K back. I'll post a screenshot of the fed/state return deposits. My "problem" is that I started another business that was supposed to have ~$50K input before it started paying for itself, so I didn't stop my monthly deposits from my regular job. Didn't/hasn't worked out as planned and I've lost my ass (and then some) for 2012. I'm getting all of my deposits back and most likely EITC. Guess that makes me a different kind of dumb ass. 
But, hey, 12 people have jobs that may not otherwise and I'm a "job creator." Thanks for your tax contributions to my EITC.
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02-02-2013, 05:10 PM
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#40
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Lifer
Join Date: Jan 2001
Posts: 36,701
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Don't know what I'll get back. Probably not too awfully much though. I think it was about $200 last year.
Quote:
Originally Posted by Kaido
I've never understood that POV. According to statistics, most people are terrible are finances and would just spend whatever little extra would come in their paychecks every month anyway, so getting a mini-windfall every year seems like a way better option for the majority of Americans.
Plus it stimulates the economy because everyone goes out and buys giant flatscreen TV's 
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Imagine that you need to pay $1000 in rent every month. However, your landlord wants an extra $200/month, just because.
But, he'll then hand you back $2,400 every April, also just because.
Seems kind of odd, no?
In this particular case, it's not a terribly large sum of money, but that $1,200 could have been in your pocket, in your bank, or in investments, potentially earning interest. (Though with today's interest rates in safe savings and investment locations, that interest would probably buy you half of a postage stamp.  )
But that's where it comes from. The government is withholding an extra amount of money from many taxpayers for a year. Theoretically, they could use that for their own investments, such as in infrastructure upgrades to the country. Realistically, they'll do what they're most effective at doing: Wasting it on corrupt and useless projects. Just because.
But yes, most people are indeed terrible with finances - including the majority of elected officials.
And when they get that tax refund, I'm sure many treat it like it is commonly viewed: Free money from the government. No, it's just your own money, which they so kindly held onto for a year.
__________________
should have != should of
should have = should've
If we were better at documenting our lives,
future historians would be unemployed.
Last edited by Jeff7; 02-02-2013 at 11:20 PM.
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02-02-2013, 05:23 PM
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#41
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Administrator
Elite Member
Join Date: Mar 2001
Location: Western NY
Posts: 40,071
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Quote:
Originally Posted by dud
You're close ... he's a double dumb-ass. Those that get refunds (unless you make almost no money) AND brag about it are fools. They forget that the "refund" is actually monies that they have overpaid, that were due them ... and are being refunded at 0% interest.
I'm sure that I will get some flack on this ... but how do you argue with a moron? I guess it's like wrestling a greased pig ...
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I'm not sure who the "morons" are in this thread. Certainly not the OP, since *OBVIOUSLY* the OP is just trolling. Ya'll just done been trolled.
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02-02-2013, 05:38 PM
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#42
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Lifer
Join Date: Jul 2001
Posts: 28,500
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I tried the free fillable forms e-filing thing this year. Seems to have worked. I can't get too excited about the whole "loan to the government" thing when savings accounts are paying under 1% (Thank you Federal Reserve).
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02-02-2013, 05:42 PM
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#43
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No Lifer
Join Date: Dec 2000
Location: Northern IL
Posts: 58,358
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Quote:
Originally Posted by IronWing
I tried the free fillable forms e-filing thing this year. Seems to have worked. I can't get too excited about the whole "loan to the government" thing when savings accounts are paying under 1% (Thank you Federal Reserve).
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/this
most are paying roughly 1-3%. that is not a whole lot of interest on a few grand.
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Zombie Crew member! I WILL SURVIVE!
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02-02-2013, 05:48 PM
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#44
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Diamond Member
Join Date: Aug 2004
Location: North GA
Posts: 7,599
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No idea what I'll get back, hoping for 3k since I have a lot of stock write offs that have been piling up for a couple years. Probably get a couple hundred back from just working, so that's something at least. Gotta wait till brokerage firms send me the forms though, feb 14th..sigh.
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 ...  ...  ... 
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02-02-2013, 05:53 PM
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#45
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Administrator
Elite Member
Join Date: Aug 2001
Posts: 35,374
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As of right now I am getting back $1. Minimal free loan for the government from me.
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02-02-2013, 06:00 PM
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#46
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Lifer
Join Date: Aug 2000
Location: Belleville, MI
Posts: 20,501
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I'm just hoping I don't have to come up with $10K like I did last year. Also, mailing in estimated tax payments sucks too.
__________________
Quote:
Originally posted by: electron
Forget P&N, we need a new forum for this. I recommend naming it "Cuckoo's Nest"
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Grandkids holding some vermin.
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02-02-2013, 06:41 PM
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#47
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No Lifer
Join Date: Jul 2003
Location: Literbike, CA
Posts: 61,755
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Quote:
Originally Posted by amdhunter
FREE MONEY just for filing my taxes. I LOVE THE USA.
Who else is getting FREE MONEY? |
Actually, you have it backwards. You gave them free money over the course of the entire year and now they are giving the excess you paid back to you.
__________________
I've been on this forum for ten years now. I know they will never ever make me a mod while I'm alive. What I want is a key to the lifer bathroom... and a window.
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02-02-2013, 06:43 PM
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#48
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Administrator
Elite Member
Join Date: Mar 2001
Location: Western NY
Posts: 40,071
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Quote:
Originally Posted by JulesMaximus
Actually, you have it backwards. You gave them free money over the course of the entire year and now they are giving the excess you paid back to you.
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Ya'll got trolled.
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02-02-2013, 06:50 PM
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#49
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Diamond Member
Join Date: Jun 2000
Posts: 7,280
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Life is good right now. The government pays for my food, I live in sweet-ass subsidized housing, soon Ill have dirt cheap health insurance, and I even get a free phone with 250 min a month!. I barely work yet will be getting a nice return this year. Now if I can figure out a way to have the gov pay for my gas.
__________________
"Its me Bren gun"
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02-02-2013, 07:01 PM
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#50
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Lifer
Join Date: Sep 2003
Posts: 14,956
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Everyone calling the op an idiot knows this is a troll thread, right?
__________________
Quote:
Originally posted by: binister
i find preslove guilty of being awesome
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What is jesus's middle name?
Quote:
Originally Posted by Ns1
...I was in it for the mutton kebabs but found myself eating penis. It happens.
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