Just Got My Tax Refund

[Dr. Detroit]

I'm assuming it will be penalties and interest again and just been collecting my statements in anticipation of filing. K-1's aren't due til March 15th.

I've made 3 Qtrly payments to the Feds but with income fluctuating so much every year it seems like I'm always behind.

Macroeconomic theory says we will have rising inflation due to all the tax refund checks and corresponding spending. Huge amounts will go to the cancer that is Sports gambling too I'm sure.

 

[Brainonska511]

Huge amounts will go to the cancer that is Sports gambling too I'm sure.

The widespread legalization of sports gambling was a mistake, especially when people can do this extremely addicting thing straight from the little rectangle in their pocket. What could go wrong?

 

[Charmonium]

Macroeconomic theory says we will have rising inflation due to all the tax refund checks and corresponding spending. Huge amounts will go to the cancer that is Sports gambling too I'm sure.

More specifically, you could say 'monetary theory,' but your point is still clear.

Since it's a yearly phenomenon, wouldn't expect it contribute in a major way to inflation. But as money gets deposited in banks and gets multiplied due to fractional reserve banking, you right - it will spawn the creation of "new" money.

On sports gambling - it really is something particularly insidious. If you're an addict of some sort, at least there are ways that you can insulate yourself from your habit/drug/etc of choice.

Don't go to the bar or liquor store. Stay away from "friends" that still use. But gambling - the only way to NOT be tempted is to ditch your phone and computer. And those things can be addictions all on their own. Of course you're still going to run into lotto kiosks and machines everywhere you turn.

I wonder what the success rate is for gamblers.

 

[iRONic]

I’m still considering not filing at all. The wife was adamant against it when I first brought it up, I think I'm breaking her down. Lol

The reason to withhold your taxes is not to cheat the government of much-needed funds. It is not even to cheat the crooks now running the country, satisfying as that may be. It is to expose the criminality of what is being done – and not done – with the money the state has a legal and moral obligation to collect and then to distribute, to serve all the people.


It’s time for Americans to withhold their taxes | Judith Levine | The Guardian

 

[Red Squirrel]

Got my T4 the other day which was the last paper I needed. Dropped everything at my accountant and everything is already done. Getting a $900 refund.

 

[nOOky]

We just signed our 2024 taxes and sent them off last week. The accountant kept filing extensions because she is so busy and can't find good help. The wife switched from an LLC to an S corp which didn't help, but saved a bunch.

 

[JM Aggie08]

I’m still considering not filing at all. The wife was adamant against it when I first brought it up, I think I'm breaking her down. Lol

The reason to withhold your taxes is not to cheat the government of much-needed funds. It is not even to cheat the crooks now running the country, satisfying as that may be. It is to expose the criminality of what is being done – and not done – with the money the state has a legal and moral obligation to collect and then to distribute, to serve all the people.


It’s time for Americans to withhold their taxes | Judith Levine | The Guardian

That's a bold strategy, Cotton.

 

[iRONic]

We’re absolutely gonna have to file this year. 🧐

Selling our final rental property this month since the oldest kid moved out in August.

 

[bbhaag]

We just signed our 2024 taxes and sent them off last week. The accountant kept filing extensions because she is so busy and can't find good help. The wife switched from an LLC to an S corp which didn't help, but saved a bunch.

LLC with Scorp is a must. You cannot have one without the other. She cannot drop her LLC designation if she wants Scorp. She needs to check with her accountant/CPA to make sure the paperwork was filled correctly.

 

[iRONic]

LLC with Scorp is a must. You cannot have one without the other. She cannot drop her LLC designation if she wants Scorp. She needs to check with her accountant/CPA to make sure the paperwork was filled correctly.

Really? I don't know what state they are in but I owned both an S Corp. and an LLC in Connecticut. I wasn't required to have an LLC with the S Corp.. They were two different businesses though…