TAX TIME 2011

[GASPASSERDELUXE]

I just finished my taxes and e-filed them. Should have my refund NLT 10 Feb. Getting a refund, however not enought to by a new gun. Maybe some accesories or reloading supplies.

[tombogan03884]

Taxes ?
One word, AARGHH.

[alfsauve]

A pox on you and your ilk, GasPasser.

I haven't even begin to think about the tax "returns" I've got to file this year.

[GASPASSERDELUXE]

My refund was deposited in my acct this morning. Time to go shopping.

[twyacht]

Refund?... Refund?.... I have watched my mortgage deduction dwindle, my child deduction go from $1000 to $500, my marriage deduction phase away,...my itemized deductions having less and less of an impact on a "refund"....

I turbo tax, as I have for several years, and see the impact of my "deductions" making LESS of an impact on my bottom line...to the .gov't.

Hell, I'll probably owe this year, or God willing, break even,....I'm in the "evil" blue collar, and ever shrinking middle class, as I make too much to get away with it, and too little to reap the benefits....

I miss my 1040 EZ days, when a couple grand refund was the norm.........

Now? No reach around, No flowers, No kiss on the cheek,.........Just a BOHICA......

 

[Sponsor]

[jnevis]

We've tended to break even the last few years.  $1k to the Feds and a $1k refund from the state, only due to a deduction from being a volunteer EMT.

BUT... I should be OK with OT and per diem for the next couple business trips should be enough for a nice toy. Friend has an M9 and M9A1 he wants to get rid of.

[Timothy]

I just finished mine this evening.  I strive to a net zero on both Fed and State.  Getting a huge refund from the government is just silly!  You've given them YOUR money to use during the year in hopes that you'll get it back in April.

I'm paying 750 to the fed and getting 350 from the state but then I'm not paying any taxes on my unemployment so that's a win for me!

2012 will be a different story if I'm not working but I'd rather owe the IRS than have them owe me!

[alfsauve]

I too strive to owe the IRS.   Much better I hold it (even a 0.1% interest) than hope I get it back later.

But still, a pox on GasPasser for already having his done and submitted AND getting his refund.

Ran the numbers on my dad's estate last night.   Zero tax.   Good.   Now have to run the numbers on his income up until he died.  Then there's my tax return and then the kids will all come by and we'll run there's through.  I get 5 free federal filings with H&R Block's Tax Cut.  I guess it's worth the $60 they now charge for the software.

[billt]

Getting a huge refund from the government is just silly!  You've given them YOUR money to use during the year in hopes that you'll get it back in April. I'd rather owe the IRS than have them owe me!

While in theory your point cannot be argued, in practice it rarely works out that way. The fact is most people spend every dollar they make, when they make it. Few have any regular forced method of saving dicipline. I work with a lot of guys who fall into this type of category. They claim everything they can during the year, then most always are off and wind up owing money they didn't think they would owe.

For these people claiming zero, and having their withholding increased would help them at the end of the year. Most of these people might be inclined to save 1K or 2K in a lump sum. Or at least some of it. But if they are given it through the course of the year, most will just piss it away. I've also found these people who wind up owing at the end of the year, usually don't participate in the company 401-K plan either. It's always the same excuse.....They "Can't afford it". It's funny how these same people are all the ones running around with $500.00 I-Phones with every service on it known to mankind, and are driving some $40,000.00 leased car with through the roof lease payments.

[Tyler Durden]

jnevis wrote:

...only due to a deduction from being a volunteer EMT.

I have never heard of that before.  How does that work?