Members t3ch Posted January 28, 2008 Members Share Posted January 28, 2008 I get a $60 federal and $30 state return. It's gonna cost me $15 just to file a federal and $30 to file a state. I thought there was some big tax rebate thing going on this year? Link to comment Share on other sites More sharing options...
Members Thrashterpiece Posted January 28, 2008 Members Share Posted January 28, 2008 There is. Its seperate from your filed return. Supposedly you will just receive a check for whatever amount your entitiled to. Link to comment Share on other sites More sharing options...
Members rummy Posted January 28, 2008 Members Share Posted January 28, 2008 Damn, dude. That sucks! Link to comment Share on other sites More sharing options...
Members Jessz1 Posted January 28, 2008 Members Share Posted January 28, 2008 Either you don't let the goverment play with much of your money or??? I have a daughter now so I finally got a little break. 5200.00 back from federal and 500 state. They still kept close to 15 grand though. Grrrr...... Taxes blow! Link to comment Share on other sites More sharing options...
Members t3ch Posted January 28, 2008 Author Members Share Posted January 28, 2008 Damn, dude. That sucks! Yeah dude! I'm used to getting like $500 back every year. I kept seeing notices about "if you make under $26,500 you are not eligible for ___". I'm over that for once this year, so I guess it's because of the higher tax bracket. But I'm still broke and was needing a healthy return Link to comment Share on other sites More sharing options...
Members t3ch Posted January 28, 2008 Author Members Share Posted January 28, 2008 Either you don't let the goverment play with much of your money or??? I have a daughter now so I finally got a little break. 5200.00 back from federal and 500 state. They still kept close to 15 grand though. Grrrr...... Taxes blow! I have them take the standard amount out. I am single with no dependants or many write-off's though. Link to comment Share on other sites More sharing options...
Members Thunderbroom Posted January 28, 2008 Members Share Posted January 28, 2008 I get a $60 federal and $30 state return. It's gonna cost me $15 just to file a federal and $30 to file a state. I thought there was some big tax rebate thing going on this year? It sounds like you're having the right amount taken out which is a good thing. Getting refunds seems like a good deal until you realize that you've been giving the government an interest free loan all year. I struggle each year trying to figure the right withholding because I don't want to get a bunch back but have been getting back an average of $3k a year. I decided to try paying lower estimated taxes this year. I hope that I have it figured right and break even. Link to comment Share on other sites More sharing options...
Members Jessz1 Posted January 28, 2008 Members Share Posted January 28, 2008 It sounds like you're having the right amount taken out which is a good thing. Getting refunds seems like a good deal until you realize that you've been giving the government an interest free loan all year. I struggle each year trying to figure the right withholding because I don't want to get a bunch back but have been getting back an average of $3k a year. I decided to try paying lower estimated taxes this year. I hope that I have it figured right and break even. Yep, I changed my deductions cause I don't want them playing with so much next year. Before the kid I got about a grand back. I hate paying. Link to comment Share on other sites More sharing options...
Members t3ch Posted January 28, 2008 Author Members Share Posted January 28, 2008 It sounds like you're having the right amount taken out which is a good thing. Getting refunds seems like a good deal until you realize that you've been giving the government an interest free loan all year. I struggle each year trying to figure the right withholding because I don't want to get a bunch back but have been getting back an average of $3k a year. I decided to try paying lower estimated taxes this year. I hope that I have it figured right and break even. I like getting a nice cushy check though. It's like a forced yearly savings account, cause I know I'll blow it otherwise Link to comment Share on other sites More sharing options...
Members collinwho Posted January 28, 2008 Members Share Posted January 28, 2008 I like getting a nice cushy check though. It's like a forced yearly savings account, cause I know I'll blow it otherwise Yes, but if it were an actual savings account, you would be getting interest. This is more like stuffing some money in your mattress and then taking out once a year. It doesn't grow. It just sits there. Link to comment Share on other sites More sharing options...
Members ec437 Posted January 28, 2008 Members Share Posted January 28, 2008 Yes, but if it were an actual savings account, you would be getting interest. This is more like stuffing some money in your mattress and then taking out once a year. It doesn't grow. It just sits there. Actually, it just sits there, with someone else using it to pay interest on bonds that they sold before they sell more to give it back to you:poke: Link to comment Share on other sites More sharing options...
Members ezstep Posted January 28, 2008 Members Share Posted January 28, 2008 I like getting a nice cushy check though. It's like a forced yearly savings account, cause I know I'll blow it otherwise Like people don't blow it when they get the check? I am usually within $600, one way or the other. After paying all year, paying AGAIN at tax time is a pain, though. Link to comment Share on other sites More sharing options...
Members t3ch Posted January 28, 2008 Author Members Share Posted January 28, 2008 Like people don't blow it when they get the check? Nope. Every year I've gotten it I paid bills and dumped the rest into debt-payoff Link to comment Share on other sites More sharing options...
Members walkerci Posted January 28, 2008 Members Share Posted January 28, 2008 Don't feel bad. I just wrote a check for $5,500 for Tax Year 2006!:mad: I hope it's just a couple of bucks for 2007. And no, I don't get a rebate either.:mad: Link to comment Share on other sites More sharing options...
Members collinwho Posted January 28, 2008 Members Share Posted January 28, 2008 I'm not too worried about the $10 in interest an extra $400 in a savings account would accrue. I don't save, right now all of my extra money goes to paying off my credit lines. No point in saving when I have two large loans at 8% and 12%; THATS a waste of money. Its even worse this way, because that is $400 that you wouldn't have been paying 12% on if you had gotten it in the first place. Link to comment Share on other sites More sharing options...
Members RSBro Posted January 28, 2008 Members Share Posted January 28, 2008 Love me some tax season... :cry: Link to comment Share on other sites More sharing options...
Members PaulyWally Posted January 28, 2008 Members Share Posted January 28, 2008 Its even worse this way, because that is $400 that you wouldn't have been paying 12% on if you had gotten it in the first place. +400 (dollars) $400 (an extra $33 a month) would save you almost $100 in interest on a 12% loan over the course of a year. Link to comment Share on other sites More sharing options...
Members i_wanna_les_paul Posted January 28, 2008 Members Share Posted January 28, 2008 Its even worse this way, because that is $400 that you wouldn't have been paying 12% on if you had gotten it in the first place. While I agree with the basic principle, the problem that a lot of people would have with the $400 being added into their yearly income is that $400 over the course of 12 months would be $33 each month. That's an extra eating-out meal each month - or a half tank of gas. It's often difficult to imagine that $33 extra each month adding up to $400 at the end of the year. To make it apply the way you and others describe requires a change of mindset - which many people could use in many more ways regarding their finances. $.02 Link to comment Share on other sites More sharing options...
Members Bassius Posted January 28, 2008 Members Share Posted January 28, 2008 sucks ass but still better than OWING! Link to comment Share on other sites More sharing options...
Members Goofball Jones Posted January 28, 2008 Members Share Posted January 28, 2008 Don't feel bad. I just wrote a check for $5,500 for Tax Year 2006! :mad: I hope it's just a couple of bucks for 2007. And no, I don't get a rebate either. :mad: Lol! That's what you get for being so successful! PWNED! At least, that's what I tell myself to justify my laziness. Link to comment Share on other sites More sharing options...
Members RSBro Posted January 28, 2008 Members Share Posted January 28, 2008 Lol! That's what you get for being so successful! PWNED! At least, that's what I tell myself to justify my laziness. And that's why every year, large and successful companies either outright move, or further their efforts to leave the US... US economy = pnwed!! Link to comment Share on other sites More sharing options...
Members Goofball Jones Posted January 28, 2008 Members Share Posted January 28, 2008 And that's why every year, large and successful companies either outright move, or further their efforts to leave the US... US economy = pnwed!! Which is why I'm looking to move to Iceland. I mean, if they would take in an asshole like Bobby Fischer, then they'd certainly take me! Link to comment Share on other sites More sharing options...
Members RSBro Posted January 28, 2008 Members Share Posted January 28, 2008 Which is why I'm looking to move to Iceland. I mean, if they would take in an asshole like Bobby Fischer, then they'd certainly take me! Personally, I think the whole system is going to collapse or something in my lifetime of the next 50-60 years. There's an estimated 30M non-filers each year, and the number is already going to grow when people understand how backed up and disorganized the Service already is. We've talked to a few ex employees who left within a month b/c it was like a living hell it's so unorganized and even the managers and supervisors don't know what's going on to help people. Link to comment Share on other sites More sharing options...
Members t3ch Posted January 28, 2008 Author Members Share Posted January 28, 2008 While I agree with the basic principle, the problem that a lot of people would have with the $400 being added into their yearly income is that $400 over the course of 12 months would be $33 each month. That's an extra eating-out meal each month - or a half tank of gas. It's often difficult to imagine that $33 extra each month adding up to $400 at the end of the year. To make it apply the way you and others describe requires a change of mindset - which many people could use in many more ways regarding their finances. $.02 At least you understand my point I'm getting better at managing my finances and shifting to that mindset though. Link to comment Share on other sites More sharing options...
Members xOriginalNinjax Posted January 28, 2008 Members Share Posted January 28, 2008 I haven't even gotten my W2's yet..... I realized that I'm getting jipped BAD by my current job, just by looking at my check (for once). They direct deposit, so I typically don't pay attention...but I'm getting 33% taken out every 2 weeks of each check...which is about $200 a check...it's pretty stupid, and with all my current bills, it's making things real hard on me to pay stuff off...let alone eat, or pay for gas to GET to work... Link to comment Share on other sites More sharing options...
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