Author Topic: Tax Returns! What preps are YOU going to get with your money?  (Read 10735 times)

Offline EMichael

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Re: Tax Returns! What preps are YOU going to get with your money?
« Reply #30 on: March 01, 2010, 11:07:26 AM »
It is YOUR money.  The government simply confiscated TOO MUCH of it from YOUR paycheck.  The government will return the excess confiscated funds to you, but will not pay you any interest for the period they held YOUR money.

Given the time value of money, it is much better to have to pay money to the government on April 15th.  Think it through.

(Of course, the catch is you have to be disciplined enough to withhold the money on your own rather than have the government do it for you.)

Offline ModernSurvival

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Re: Tax Returns! What preps are YOU going to get with your money?
« Reply #31 on: March 01, 2010, 01:09:28 PM »
I will be writing a check to Ira Ramone Sancia this year on tax slavery day, but not a day sooner.


Offline idelphic

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Re: Tax Returns! What preps are YOU going to get with your money?
« Reply #32 on: March 01, 2010, 01:42:32 PM »
Have to start with repairs to the truck - If we get a return..  If there is anything left from that, pay off some debt.  Starting your own business is a challenge, Will be more of a challenge when you try to start another one as well.

Offline Blu

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Re: Tax Returns! What preps are YOU going to get with your money?
« Reply #33 on: March 01, 2010, 02:53:09 PM »
What ever size return we get will be added to the downpayment for our new homestead.  One step closer ;D

Offline Cool Blue

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Re: Tax Returns! What preps are YOU going to get with your money?
« Reply #34 on: March 01, 2010, 04:00:40 PM »
It is YOUR money.  The government simply confiscated TOO MUCH of it from YOUR paycheck.  The government will return the excess confiscated funds to you, but will not pay you any interest for the period they held YOUR money.

Given the time value of money, it is much better to have to pay money to the government on April 15th.  Think it through.

(Of course, the catch is you have to be disciplined enough to withhold the money on your own rather than have the government do it for you.)


I don't know about the US but here in Canada if you expect to get a refund you can actually submit a form to the government and they will take off less taxes.  That way instead of getting all the money back at the end of the tax year, you get less taken off each pay.

Offline javabrewer

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Re: Tax Returns! What preps are YOU going to get with your money?
« Reply #35 on: March 01, 2010, 05:58:51 PM »
I don't know about the US but here in Canada if you expect to get a refund you can actually submit a form to the government and they will take off less taxes.  That way instead of getting all the money back at the end of the tax year, you get less taken off each pay.

We have the same thing here called W-4 and You just give it to your employer usually.  You can estimate how many deductions you expect to take and reduce or increase that amount.  It's not perfect though because of variable incomes, benefit costs, or other tax code changes.

The first tax year in which I lived in Canada was really ugly.  I had to report income earned in both countries, did my. US taxes first and then the Canadian ones.  I had no deductions and got absolutely reamed by both.  There was the tax loss and then the fact that the dollar went down against the loonie by 15-20% just after I moved my signing bonus and expenses back to the US...

Offline Pathman

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Re: Tax Returns! What preps are YOU going to get with your money?
« Reply #36 on: March 01, 2010, 06:44:18 PM »
This will be the first year that I have to pay instead of getting a refund so no preps from that.

Offline mobilus

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Re: Tax Returns! What preps are YOU going to get with your money?
« Reply #37 on: March 01, 2010, 07:09:29 PM »
Once again, I am procrastinating in doing my taxes...I hate to write that check.  No refund for us.

Offline Mord

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Re: Tax Returns! What preps are YOU going to get with your money?
« Reply #38 on: March 02, 2010, 12:16:28 AM »
The return wasn't even in my account for 24 hours before it was headed out to pay down some debt.   :(

Offline sludgy_nixer

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Re: Tax Returns! What preps are YOU going to get with your money?
« Reply #39 on: March 04, 2010, 07:14:32 AM »
cocaine and hookers


jk. actually i'll be looking for an honest hunting rifle and food for said rifle.

Offline PAprepared

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Re: Tax Returns! What preps are YOU going to get with your money?
« Reply #40 on: March 04, 2010, 10:10:26 AM »
None. I owe the bastards $500.00 this year! >:(

Offline luke

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Re: Tax Returns! What preps are YOU going to get with your money?
« Reply #41 on: March 10, 2010, 04:45:08 AM »
I hope I get a large refund! At least a $1 refund so I don't have to pay interest and penalties for not making a final quarterly estimated payment. If I get one, it is going toward saving for future payments (mortgage, utilities, CC, etc) unless I find a way to earn income in the few months that remain between now and then. If so, it is going toward debt, get the evil monkeys off my back!

Offline Cool Blue

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Re: Tax Returns! What preps are YOU going to get with your money?
« Reply #42 on: March 10, 2010, 07:52:02 PM »
$2900 this year!  Gonna pay off one more credit card and free up $700 a month in payments that can go to paying off our last credit card!