Offical huge tax return thread!
Really, the "fun" part about a tax return is the "surprise" you get when you find out what you are getting back. You can be smart and surprised by simply directing say 10-20% of your pay, to a direct deposit savings that you NEVER check, and then check it, be surprised, and have some fun.
True, but if you have very little will power and so many projects you need to remove shoes to count them, it helps to get a nice return at the end of the year and catch back up...
$5500ish Fed
$500ish State
All went to bills (one of those being towards the $5100 I paid for my salvage donor...
)
Mike
$5500ish Fed
$500ish State
All went to bills (one of those being towards the $5100 I paid for my salvage donor...
)Mike
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Thought we can see who is getting a nice check from uncle Sam, and what they will be doing with the money!!.
$4,280 fed
$820 state
I will be going to Las Vegas for a week at the end of March
saving $1,500
And getting my new exhaust, gauges, race radiator, sti 6 speed installed, and a tune from Ed at Eqtuning
$4,280 fed
$820 state
I will be going to Las Vegas for a week at the end of March
saving $1,500
And getting my new exhaust, gauges, race radiator, sti 6 speed installed, and a tune from Ed at Eqtuning
I second this.
Am I correct in remembering that you work for AT&T on their corporate sales side or something? I find it hard to believe that area would unionized...can you enlighten me?
Last edited by LxJLthr; Feb 18, 2010 at 12:34 PM.
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I warn against big returns, claim the most on my W4 that I can. I had a "good" tax person who ensured "getting the most out of your taxes" and I got ****ing audited heavily.
Reminds me of a roommate I had who said that, and then every year I would loan him part of my tax return so he could pay his "wtf I owe THAT much???" taxes till I learned how to not get a big return. Oh the irony. There are many ways to do it wrong. Doing it right means right in the middle (IMHO). Last year I think I paid $138.
Really, the "fun" part about a tax return is the "surprise" you get when you find out what you are getting back. You can be smart and surprised by simply directing say 10-20% of your pay, to a direct deposit savings that you NEVER check, and then check it, be surprised, and have some fun.
Really, the "fun" part about a tax return is the "surprise" you get when you find out what you are getting back. You can be smart and surprised by simply directing say 10-20% of your pay, to a direct deposit savings that you NEVER check, and then check it, be surprised, and have some fun.
And right now interest rates are abysmal. If you're getting $1500 back you're losing less than $15 in interest... IF you would have kept it in some medium yield liquid account. Most who would have kept that in their checking account are losing like three bucks year off that interest
It's really not a huge penalty to have a big return right now. Maybe once the gov't can no longer hold interest rates artificially low and they start skyrocketing...
Last edited by Concillian; Feb 18, 2010 at 12:46 PM.
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You're only fooling yourself if you think a large return is proof of a large paycheck.
You wanna affect tax reform??
Make every wage earner write a check every month to the gov't for taxes!!
You wanna affect tax reform??
Make every wage earner write a check every month to the gov't for taxes!!
Well, yeah, part of the planning for a small (or no) tax return is having the sense to budget properly in the other months. You have to pay the same amount either way. It's just easier to pay without thinking about it by having it deducted automatically, then get some money back later than it is to figure out the right amount, etc... Most people would **** that money away on a half a dozen extra trips to Starbucks or whatever a month instead of getting a lump they can do something real with. For those people who can't budget well, a large return is a self-control savings tool. (much like that weird-*** "keep the change" BS program from bofa. It's not actually doing anything anyone with self control and budgeting sense could do themselves, but a lot of people just can't do that)
And right now interest rates are abysmal. If you're getting $1500 back you're losing less than $15 in interest... IF you would have kept it in some medium yield liquid account. Most who would have kept that in their checking account are losing like three bucks year off that interest It's really not a huge penalty to have a big return right now. Maybe once the gov't can no longer hold interest rates artificially low and they start skyrocketing...
And right now interest rates are abysmal. If you're getting $1500 back you're losing less than $15 in interest... IF you would have kept it in some medium yield liquid account. Most who would have kept that in their checking account are losing like three bucks year off that interest
It's really not a huge penalty to have a big return right now. Maybe once the gov't can no longer hold interest rates artificially low and they start skyrocketing...
I'm definitely not like that, but a LOT of Americans are.
They'll **** through their money unless they get a lump sum, only then can they consider buying stuff like decent furniture, cars, home improvement, etc... For those kinds of people, a large return is better. It is admitting defeat for them, but it's true.
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Guess I'm broke, because you know how much I make. Next year I will go to you for my taxes... Get a oil change and taxes done at the same time it might be a great way to make some money!
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I got a very small return, I usually go for more in my pocket every week.
I really get jealous of all the guys I work with, since I am the only legal one. They get almost their whole paycheck, and a big return at the end of the year, usually 3-5 grand! They always laugh at me, but hey...what can I do
I really get jealous of all the guys I work with, since I am the only legal one. They get almost their whole paycheck, and a big return at the end of the year, usually 3-5 grand! They always laugh at me, but hey...what can I do
I'm definitely not like that, but a LOT of Americans are.
They'll **** through their money unless they get a lump sum, only then can they consider buying stuff like decent furniture, cars, home improvement, etc... For those kinds of people, a large return is better. It is admitting defeat for them, but it's true.
They'll **** through their money unless they get a lump sum, only then can they consider buying stuff like decent furniture, cars, home improvement, etc... For those kinds of people, a large return is better. It is admitting defeat for them, but it's true.
I was like that though. I lived in England for 2 years and the whole time I was gone, my sister was managing my money for me since it was easier than doing the whole exchange thing. When I got home and saw how much money I had, I went out and bought a car. She was not pleased, and basically I wasted all the money she saved for me. But those 3rd gear burnouts were wicked fun I must say.
Got my federal return, a couple K that I'm using to pay down credit debt, trying to get my credit score back above where it was when I bought my Subie. No sign of my state $$ yet and its been almost a month.