WOOT I am getting a tax refund, how much are you getting and what are you going to buy? - Page 2

[ARCHIVED THREAD] - WOOT I am getting a tax refund, how much are you getting and what are you going to buy? (Page 2 of 2)

Posted: 1/15/2006 2:27:15 AM EDT

[#1]

Quoted:
Quoted:
Its better to "owe" the government at the end of the year then to let them have an interest free loan. I believe that every American should have to wright a check and know how much the government is screwing them. Might get a few more right thinking people out there.

Agreed. Thanks to witholding, most people fall into the "ignorance is bliss" category.

I also agree. I haven't gotten a refund in years. This year I owe about $80 federal and $20 state.

Whoever called a tax refund a "windfall" is wrong. It's YOUR MONEY.

Posted: 1/15/2006 2:30:00 AM EDT

[#2]

a SA mil-spec 1911 so i can have a good range gun and custom it up to my specs..

what should i do first??

Posted: 1/15/2006 2:49:27 AM EDT

[#3]

Between the wife and I we expect a refund of about $7K. I intentionally overpay as in previous years I've owed similar amounts. I'd much rather loan them money interest free than get smacked again with the sledgehammer and lose things I hold dear. I give them a huge buffer so if I screw something up it wont cut into my living expenses at all. Even a HUGE screwup and I'm relatively safe.

I'm buying a CMP garand and paying off bills with the rest!

Posted: 1/15/2006 3:18:01 AM EDT

[#4]

Wife filed ours on Saturday....We are getting back Just a shade under 7,000 Federal and State. Many people don't like our method of paying more than we need to throughout the year, but I have had to pay taxes in years past, and found that to be much, much worse. Much better to receive my money back,than to have to send a check to the Gov't. I am paying off my 1 and only credit card, and am going to use the rest for paying down bills. I am dedicated to becoming debt free, regardless of how long it takes.

Posted: 1/15/2006 3:25:38 AM EDT

[#5]

Yeouch - I can't imagine giving up $7000 of my money for 13 months that could be earning interest - hell, $7000 at 4% is going to net you around $250 or so.

Should be an interesting year for us - it will be the first time we use a long form instead of an EZ. 16 years we've been married and have never had enough deductions or large enough mortgage to justify anything but the standard deductions.

But this year we have moving expenses, mortgage, closing costs, college tuition deducts, wife has a home office, etc.

Posted: 1/15/2006 5:59:51 AM EDT

[#6]

I wish this country would have a tax revolt.

Posted: 1/15/2006 6:01:43 AM EDT

[#7]

Quoted:
I wish this country would have a tax revolt.

Be sure to call me if I'm late.

Posted: 1/15/2006 6:03:57 AM EDT

[#8]

I did an estimate and will get about a grand back. I'll pay my proprty taxes, get some things to round out my SHTF setups, put a few dollars in my rainy day fund, and finally get my concealled carry permit. Rich

Posted: 1/15/2006 6:05:18 AM EDT

[#9]

We complain but compared to other countries the amount of taxes we pay is significantly lower. Perhaps we get less in government programs but thats fine with me.

Posted: 1/15/2006 6:34:32 AM EDT

[#10]

Quoted:
We complain but compared to other countries the amount of taxes we pay is significantly lower. Perhaps we get less in government programs but thats fine with me.

If we ran our 'retirement' fund (that is attached) to taxes like Luxembourg does, I'd be all for it.

I'm friends with the guy who started Trisport (bicycle shop) in Echternach, Lux. He retired, and now his son runs the place.

EDIT: He's still a U.S. citizen, and his time in the US Army was applied to his Lux retirement. He was in the Army 3 years or so.

Posted: 1/15/2006 6:37:23 AM EDT

[#11]

Quoted:
Quoted:
We complain but compared to other countries the amount of taxes we pay is significantly lower. Perhaps we get less in government programs but thats fine with me.

If we ran our 'retirement' fund (that is attached) to taxes like Luxembourg does, I'd be all for it.

I'm friends with the guy who started Trisport (bicycle shop) in Echternach, Lux. He retired, and now his son runs the place.

EDIT: He's still a U.S. citizen, and his time in the US Army was applied to his Lux retirement. He was in the Army 3 years or so.

Damn what a concept. The more you put in the more you get out. Isnt that novel. Our system is ridiculous.

Posted: 1/15/2006 6:38:33 AM EDT

[#12]

Quoted:
We complain but compared to other countries the amount of taxes we pay is significantly lower. Perhaps we get less in government programs but thats fine with me.

What?! How can you say that! Dont you care about your fellow man?? Dont you think everyone in America should be provided with certain benefits? Doesnt it make sense that those who have a great excess should help out those who have nothing?

Posted: 1/15/2006 6:49:36 AM EDT

[#13]

If I don't have to pay maybe one of these.........

Posted: 1/15/2006 6:53:19 AM EDT

[#14]

Cool.

Is that yours?

How old is that?

Posted: 1/15/2006 6:56:19 AM EDT

[#15]

Quoted:
Quoted:
Quoted:
We complain but compared to other countries the amount of taxes we pay is significantly lower. Perhaps we get less in government programs but thats fine with me.

If we ran our 'retirement' fund (that is attached) to taxes like Luxembourg does, I'd be all for it.

I'm friends with the guy who started Trisport (bicycle shop) in Echternach, Lux. He retired, and now his son runs the place.

EDIT: He's still a U.S. citizen, and his time in the US Army was applied to his Lux retirement. He was in the Army 3 years or so.

Damn what a concept. The more you put in the more you get out. Isnt that novel. Our system is ridiculous.

No kidding.

Heck, they sent him a statement twice I year or so. Told me he now makes almost as much per month retired as he did while working.

He's good people - as is his entire family - I'm always happy to see good folks enjoy life.

Posted: 1/15/2006 6:59:20 AM EDT

[#16]

If and a big IF I get anything back, it's ALL going to pay off debt.

Posted: 1/15/2006 7:12:42 AM EDT

[#17]

Quoted:
Quoted:
Geez...I wish I was getting a refund. My accountant tells me I'm going to owe about $15k.

I believe your accountant should be terminated.

Owing $15k at tax time means he/she wasn't paying attention to your finances DURING the year.

I agree. If you owe 15K, you have a very poor accountant. I can't recall the number, but it was like 65% of people who call themselves "accountants" don't hold a degree in accounting.

It's worse in the design business. About 90% have failed at everything else; so they get a desktop computer some pirated software and are an instant artist or designer! I wish my profession would have some type of certification process. It makes my job hard.

Posted: 1/15/2006 7:26:14 AM EDT

[#18]

Quoted:
I wish my profession would have some type of certification process.

What's your profession? Just curious.

And FWIW, I'm an electrician.

The Delusional Texas Department of Licensing and Regulation]www.license.state.tx.us/electricians/elec.htm]Delusional Texas Department of Licensing and Regulation decided to go to a state-wide Journeyman's license.

Previously, you had to prove you worked 8K hours, and have a Master sign the form. then you applied to take the Journeyman's test.

When they implemented the State Journeyman's license, they grandfathered people in: all you had to do was get a Master to sign verifying 8K hours, and they GAVE you a license - no testing involved. The rumor was it cost about $500 to get a Master to sign a bogus form.

And I think they just recently stopped the grandfather BS.

Along with a state license, I also have a city license. When I went to renew it, the clerk (a friend) said there's a bunch of Journeyman out there that can't do squat. A bunch of contractors are raising a stink about it - as well they should. He admitted they've had backroom discussions that were along the lines of, 'Hey we really f*cked up!'

EDIT: just realized I'm writing about licensing in a tax refund thread.

Posted: 1/15/2006 7:27:33 AM EDT

[#19]

Quoted:
Cool.

Is that yours?

How old is that?

I wish I had one.

I'm guessing that in the very early 60's that my brother and I got them for Christmas.
Made a mark on me for life. Happiest kids in the world.