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Got my tax return yesterday!

P

pclstyle

Platinum Member
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")
 
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
 
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.
 
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.
 
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.
Click to expand...

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.
 
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?
 
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.
 
I had to pay 150 to state and 450 to federal because of stupid poker taxes 🙁

Oh wait that means I had poker wins 🙂
 
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 🙂
Click to expand...

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.
 
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.
 
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 🙂
Click to expand...

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.
Click to expand...

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.
 
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")
Click to expand...

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

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

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.
Click to expand...

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.
Click to expand...

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.
 
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
Click to expand...

good ram :thumbsup:
 
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