Got my tax return yesterday!

[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")

 

[DaWhim]

paying off debts.

 

[TraumaRN]

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]

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.

 

[HardcoreRobot]

paid 145, no biggie

 

[DurocShark]

Finally paying off the payday loans my wife took out in October.

:|

 

[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.

 

[pclstyle]

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]

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?

 

[HeroOfPellinor]

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]

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

 

[crownjules]

Getting $1220 back. All of it is going into ING.

 

[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

 

[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.

 

[GTaudiophile]

I owed the Feds $300 and the state owes me $300, so it evens out. I'm not changing anything in my budget.

 

[tfinch2]

I got back 200 exactly, and it went into my ING.

 

[RagingBITCH]

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.

 

[Tifababy]

Wasn't planning on using my tax refund for this, but I happened to purchase it the week after the refund was electronically deposited.

New Dartboard

 

[Albis]

buying a navi unit for the car

 

[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.

 

[b0mbrman]

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]

All of it went into savings, that will help cover the unpaid parts of the wife's and mine maternity/paternity leaves.

 

[pclstyle]

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]

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]

You didn't get a tax return. You got back what you overpaid to the government.