Got my tax return yesterday!

pclstyle

Platinum Member
Apr 14, 2004
2,364
0
0
Guess those charities and other misc. writeoffs really paid off this year. Am I one of the few smiling?



If you're :) - what are you splurging on? (plasma tv, cpu upgrade, paying some bills, emigrant)

If you're :( - what are you cutting back on? (child's tuition, food, "guess that vacation has to wait till '09")
 

TraumaRN

Diamond Member
Jun 5, 2005
6,893
63
91
Mine hasn't come yet.....but when it does.....I'm spending it on this and the rest goes in the bank. considering my income level last year(~$10000) i was pleased with a just over $600 return. But I need the 2Gigs as I've found myself using lots of RAM heavy applications now and 1 Gig just doesnt cut it anymore, besides I'm sure I could get at least 70 bucks for my current RAM on FS/FT if i try hard enough
 

LuckyTaxi

Diamond Member
Dec 24, 2000
6,044
23
81
Paying off my mom $700 and a cellphone $400.
Then the rest is going into my ING direct account.
That means I'll be left with $1100! GRRR ... I wanted a new camera.
 

Descartes

Lifer
Oct 10, 1999
13,968
2
0
I'm not splurging on anything, because I don't treat my tax return as though it's free money; it's my money. I'm going to invest it like everything else.

I just got my state return, and it was ~10% of what my return said. I haven't received my federal yet.
 

pclstyle

Platinum Member
Apr 14, 2004
2,364
0
0
Originally posted by: Descartes
I'm not splurging on anything, because I don't treat my tax return as though it's free money; it's my money. I'm going to invest it like everything else.

I just got my state return, and it was ~10% of what my return said. I haven't received my federal yet.

Well, I look at them usually like a little extra something that I didn't factor into my bills, private investments, 401k, along with all those other misc. automated payments that nibble at your paycheck. So if it's a refund: when it comes, I see it as a little flex money that I wasn't completely aware of, is not necessary for my survival, and am thus a little more liberal about spending.
 

EagleKeeper

Discussion Club Moderator<br>Elite Member
Staff member
Oct 30, 2000
42,591
5
0
How did you get your tax return

Rejected by USPS or the IRS?

The returns are supposed to be sent by you to Uncle.

Poor choice of words?
 
Dec 27, 2001
11,272
1
0
Put it in the bank. It'll go towards a new roof in a couple months.

Oh, and I'm already declaring 9 state and federal exemptions so don't give me the speach about letting the government borrow my money.......we're single income with a mortgage and two kids and lots of charitable donations.......it's not my fault if the government thinks I shouldn't pay any taxes.
 

pclstyle

Platinum Member
Apr 14, 2004
2,364
0
0
Originally posted by: EagleKeeper
How did you get your tax return

Rejected by USPS or the IRS?

The returns are supposed to be sent by you to Uncle.

Poor choice of words?

solly :(
 

Kev

Lifer
Dec 17, 2001
16,367
4
81
I had to pay 150 to state and 450 to federal because of stupid poker taxes :(

Oh wait that means I had poker wins :)
 

pclstyle

Platinum Member
Apr 14, 2004
2,364
0
0
Originally posted by: Kev
I had to pay 150 to state and 450 to federal because of stupid poker taxes :(

Oh wait that means I had poker wins :)

what I didn't realize about online poker- they don't just tax you for the money you walk away from the table with- you're taxed for ALL of your winnings during the entire session. So you could have won 1500 but lost 2k, putting you 500 under- and you'd still be taxed for the full 1500.
 

GTaudiophile

Lifer
Oct 24, 2000
29,776
31
81
I owed the Feds $300 and the state owes me $300, so it evens out. I'm not changing anything in my budget.
 

RagingBITCH

Lifer
Sep 27, 2003
17,619
2
76
Got $1300 back. Originally earmarked about $150-200 for a DVD recorder but ended up just spending it. The rest went into my savings account.
 

crownjules

Diamond Member
Jul 7, 2005
4,858
0
76
Originally posted by: pclstyle
Originally posted by: Kev
I had to pay 150 to state and 450 to federal because of stupid poker taxes :(

Oh wait that means I had poker wins :)

what I didn't realize about online poker- they don't just tax you for the money you walk away from the table with- you're taxed for ALL of your winnings during the entire session. So you could have won 1500 but lost 2k, putting you 500 under- and you'd still be taxed for the full 1500.

Huh? How in the world does that work? I realize that taxes are on earned income, and so in your example situation you "earned" $1500 before losing it plus another $500. Is there a way in your taxes to report losses and have those count as a credit or something? Just interested in case at some point in the future my winnings become significant to actually report on taxes.
 

b0mbrman

Lifer
Jun 1, 2001
29,471
1
81
Originally posted by: pclstyle
Guess those charities and other misc. writeoffs really paid off this year. Am I one of the few smiling?



If you're :) - what are you splurging on? (plasma tv, cpu upgrade, paying some bills, emigrant)

If you're :( - what are you cutting back on? (child's tuition, food, "guess that vacation has to wait till '09")

[Insert comment here about interest-free loan to the government]

:) and straight to Vanguard...
 

Ramma2

Platinum Member
Jul 29, 2002
2,710
1
0
All of it went into savings, that will help cover the unpaid parts of the wife's and mine maternity/paternity leaves.
 

pclstyle

Platinum Member
Apr 14, 2004
2,364
0
0
Originally posted by: crownjules
Originally posted by: pclstyle
Originally posted by: Kev
I had to pay 150 to state and 450 to federal because of stupid poker taxes :(

Oh wait that means I had poker wins :)

what I didn't realize about online poker- they don't just tax you for the money you walk away from the table with- you're taxed for ALL of your winnings during the entire session. So you could have won 1500 but lost 2k, putting you 500 under- and you'd still be taxed for the full 1500.

Huh? How in the world does that work? I realize that taxes are on earned income, and so in your example situation you "earned" $1500 before losing it plus another $500. Is there a way in your taxes to report losses and have those count as a credit or something? Just interested in case at some point in the future my winnings become significant to actually report on taxes.

Well, that's how it worked for me at least. There was a sub-note about how you could "mention" your losses because of "reinvestment" and "recycling" of funds, but there was nothing solid IIRC. H&R Block didn't seem to be able to do anything about it either.

Fortunately for me, it wasn't 1500/2000, it was more like 700/580. But that was already enough of a turnoff for me, since it had been the now ex-girlfriend playing on my account, under my SS #, etc.
 

j00fek

Diamond Member
Dec 19, 2005
8,099
1
0
Originally posted by: DeathBUA
Mine hasn't come yet.....but when it does.....I'm spending it on this and the rest goes in the bank. considering my income level last year(~$10000) i was pleased with a just over $600 return. But I need the 2Gigs as I've found myself using lots of RAM heavy applications now and 1 Gig just doesnt cut it anymore, besides I'm sure I could get at least 70 bucks for my current RAM on FS/FT if i try hard enough

good ram :thumbsup:
 

Queasy

Moderator<br>Console Gaming
Aug 24, 2001
31,796
2
0
You didn't get a tax return. You got back what you overpaid to the government.