The Down Range Forum
Member Section => Down Range Cafe => Topic started by: Timothy on March 25, 2018, 07:26:51 PM
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Woot, woot!!!
Taxes done, owe the drunken uncle less than a Benjamin and gettin a few Bennies back from the boorish commies on Beacon Hill!
All in all, in the black for 2017!
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State refund came yesterday. Spent on bills today.
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First time in years I've gotten a refund, I'm liking it! Self employment usually doesn't include refunds...
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... I'll be 70 1/2 this year and the required minimum distributions on my IRAs start ... taking a voluntary 10% on the RMDs required a little effort getting the paperwork in place...I did learn that I can roll some qualified pre tax IRA money to a Roth (after paying the tax, naturally), but have to limit the amount so not to bump into the next tax bracket...you try to save what you can during your working years, and put away some retirement funds...for you younger guys, look into an after tax Roth if you are offered a payroll deduction, if they are still available, and not run into the tax problem when your income is reduced... so back to the quarterly payments.. :(
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Between personal, pay roll and Corp taxes... I gve them 7 figures. :'(
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I paid H&R Block to do my state and federal taxes for several years. I used to do my own until I found out I screwed them up. This year I had some gambling winnings to report which required extra time and (paper)work so it cost me more than ever to get them done. That's also the reason I have to pay city taxes for the first time in years. The city is nice enough not to tax my pension and social security, but any winnings above $600 are reported to the IRS by the state, and everyone wants a piece of the pie.
I used to have an extra $50 a month federal taxes withheld so I knew I would always get hundreds of dollars for a refund. I quit doing that and now I never know how big my refund will be, or if I'll even get one. I have to file city taxes myself. It only takes a few minutes to fill it out, but I still have some time until I have to do that and mail them in. I got $13 back from the state, and my federal refund was about half of what I paid H&R Block.
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Less than $100 from Uncle Sugar. Got that withholding figured about right. $600 from the State. Doing something wrong with that one.
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Less than $100 from Uncle Sugar. Got that withholding figured about right. $600 from the State. Doing something wrong with that one.
Several guys I work with will give MORE money out of their check than what the drunken uncle wants and hope for a larger refund!
Single income, no kids expecting about 6.5k back... It makes no sense!
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Several guys I work with will give MORE money out of their check than what the drunken uncle wants and hope for a larger refund!
Single income, no kids expecting about 6.5k back... It makes no sense!
The government hates that! When I did our church's payroll I had to remind employees that the plan of working for a big refund had two issues: 1. You are lending money to the government interest free and paying interest on your loans all year; and 2. If you play this game too much, there are penalties. The government has a rule that if you continually get a large refund, you will be fined. They hate having to give back money they shouldn't have received in the first place, especially when you are planning it that way.
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I liked getting a $400-$500 total refund from Uncle Sam and the state because I didn't have to worry about having enough money in the bank to pay my taxes. But I thought that was still too much of my money to not have all year. I'm going to leave it as is for now with zero extra taken out, but if I owe anything next year, I'll have enough extra taken out the following year to cover it from then on. A refund of $100 would be good. Then I would know most of my money would be in one of my accounts earning interest instead of the government having it. When I got refunds of around $900 I would sometimes use my refund to buy a new gun or something I wanted, but why wait for a refund next year when I can have the money this year?
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Several guys I work with will give MORE money out of their check than what the drunken uncle wants and hope for a larger refund!
Single income, no kids expecting about 6.5k back... It makes no sense!
Boy number 1 is a quality control engineer fro Chrysler. (I don't think he finds much in the way of quality) He grosses around 140K per, and gets 12-15K in refunds. I've tried to explain the issue to him. He thinks of it as a forced savings account. One of these days his ass will get bitten hard enough for him to listen. Maybe. Doubt it.
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I’ve told these guys the gov don’t care for that stuff but they say they can’t save money any other way!
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I’ve told these guys the gov don’t care for that stuff but they say they can’t save money any other way!
is it really that hard to set up a bank account that you have to physically go into the branch to withdraw funds from?
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is it really that hard to set up a bank account that you have to physically go into the branch to withdraw funds from?
Apparently it is... actually, I can do all my banking from my recliner including deposits! Take a pic of the check and click.
It’s about self control! They don’t have any.
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That is pretty sad.
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Apparently it is... actually, I can do all my banking from my recliner including deposits! Take a pic of the check and click.
It’s about self control! They don’t have any.
People don't send me checks very often, but I get cash back checks on one of my credit cards a few times a year. I have direct deposit on everything possible, and always have. I had direct deposit in the army too, and my money was always in the bank the day before payday. There were always a bunch of schmucks lined up around the block on payday waiting to cash their checks, while I already had cash in my pocket from the ATM. Those guys missed a lot of lunches while standing in line. If you saw me you'd know I haven't missed a lot of meals.
I have all of my monthly bills either charged to a credit card that I get interest on, or taken directly out of my checking or savings account. I can't remember what year I last wrote a check, but it's been a little while. The register in my checkbook has a little calendar on it for 2004, 2005 and 2006. I don't think I've balanced my checkbook in about 15 years. If I do write a check I go online and transfer some money from my savings to cover it, and I always know how much is in my account.
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People don't send me checks very often, but I get cash back checks on one of my credit cards a few times a year. I have direct deposit on everything possible, and always have. I had direct deposit in the army too, and my money was always in the bank the day before payday. There were always a bunch of schmucks lined up around the block on payday waiting to cash their checks, while I already had cash in my pocket from the ATM. Those guys missed a lot of lunches while standing in line. If you saw me you'd know I haven't missed a lot of meals.
I have all of my monthly bills either charged to a credit card that I get interest on, or taken directly out of my checking or savings account. I can't remember what year I last wrote a check, but it's been a little while. The register in my checkbook has a little calendar on it for 2004, 2005 and 2006. I don't think I've balanced my checkbook in about 15 years. If I do write a check I go online and transfer some money from my savings to cover it, and I always know how much is in my account.
About the only things I write checks for any more is church tithing and medical expenses (it is easier to show I've paid a bill when the idiots at our local hospital send duplicate bills). Everything else is done either via automatic monthly drafts or online by me. A box of check last me a long time.
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About the only things I write checks for any more is church tithing and medical expenses (it is easier to show I've paid a bill when the idiots at our local hospital send duplicate bills). Everything else is done either via automatic monthly drafts or online by me. A box of check last me a long time.
Ditto... medical last month alone was about a grand...
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See I do almost everything by check. It makes record keeping so much easier. Now building materials That are not account based are cc. Everything account based gets. Monthly check
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See I do almost everything by check. It makes record keeping so much easier. Now building materials That are not account based are cc. Everything account based gets. Monthly check
If I was in your business I’d do much the same.
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About the only things I write checks for any more is church tithing and medical expenses (it is easier to show I've paid a bill when the idiots at our local hospital send duplicate bills). Everything else is done either via automatic monthly drafts or online by me. A box of check last me a long time.
I don't even use checks for that. I don't go to church, and I pay my medical bills online if I haven't already paid at the doctor's office. My doctors all work in a medical group with the nearest hospital, which is about a mile from my house. I finally put their billing website in my shortcuts because I never pay at my primary doctor's office anymore and I get bills in the mail now. My medical records are online too and I get lab test results before my doctor has a chance to look at them and get hold of me.