Taxes are done.

[PhoenixOrion]

Originally posted by: Slew Foot

Originally posted by: PhoenixOrion

Originally posted by: Jeff7
I can't even do mine, and I'd like to get my "refund" back - I haven't gotten my W2's yet.

Originally posted by: Whoozyerdaddy

Originally posted by: PhoenixOrion
What's there to gloat? you don't have money coming back

That's what he's gloating about. He didn't give Uncle Sam an interest free loan.

Yes he did. But it wasn't enough, so he has to pay even more now.

Bingo!

Every time a tax payer still has to pay more taxes on top of what was withheld from them throughout the year, regardless of what was their withholding allowance, more than likely could have done better with their tax preparation (deductions, tack on that capital/investment loss especially with the 2007 stock market, write up depreciation of a property, loss on a profit-motive hobby, open up an IRA before April 2008, etc.) to lower taxable income so that they always recoup some of their money back come year-end settlement. Think about it for a second.

Explain this "hobby loss" thing to em for a second. Can I deduct the money I spent on video games and baseball cards?

Check with your tax advisor and with the IRS (or at least read up their publications). You just might be able to

 

[SoundTheSurrender]

You can still file taxes this late?

 

[Blain]

Originally posted by: SoundTheSurrender
You can still file taxes this late?

Yes you can Mike. Without filing any extensions, you have until April 15th.

 

[Engineer]

Originally posted by: Zenmervolt

Originally posted by: new2AMD
Do people really buy into that interest free loan to the gov't? A refund is a refund. If you pay taxes and they give you money back how is that a bad thing? I for one would like my pay to be a few bucks less a month and get a nice check at the end of the year to do what I want with. As opposed to spreading that out over the year and not really noticing it.

So, basically, you're saying that you're too incompetent to put that money into a savings account and need the government to hold onto it for you so that you don't spend it immediately.

If someone is too stupid to be able to save money over the course of the year then I suppose it can be helpful to just have it taken away by the government and given back in a lump sum at the end of the year. Of course, in that case, the person is probably still too stupid to save that money and they will likely just spend it all anyway thus negating any benefit to the enforced saving over the course of the year.

ZV

I mentioned it earlier in this thead, but nearly every bank (especially online) offers automatic deposits. Set them and treat them as a "bill" that you have to pay every month. Budget them and watch your account, not Uncle George's, grow.