Money It's that time of year, TAX RETURN TIME! - Page 10

El Jefe · 01-30-2013, 07:35 AM

For the past 2-3 years I have started a thread about what people were going to spend their tax return on. While greeted with some hostility, most people actually enjoyed the threads. I don't know how much I will get back, but I have some big plans for it!

I am going to try to pay a grand or so on my wifes car (We owe 3k). I am going to try and slide as much as I can at my wife's student loans (only owe 11k). Outside of those two debts, we don't have anything else luckily, because I pay out of pocket for school (ouch).

My next step depending on how much I get back would be to put at least another grand into our house fund. I live on James street, and I have designated our house fund as "Operation James Street Freedom". I would like to put some money into my IRA, currently it has none. Give my wife a little extra walking around money.

I think the last thing I would like to do is give some money to our Deacon fund at my church. This is a fund that is given by church members and distributed to the needs of the church and community if need be by the Deacon board. This fund has helped a lot of people in very bad spots, and it's my duty to help out my fellow man. Our church also houses the food pantry for our community, and we received emails saying the food pantry is direly low, they have served more families this month than ever before. So I would love to take a hundred or so and buy some food to donate.

What dreams do you guys have? I know most of the people here will probably pay down bills, but its fun to dream anyways.

inb4youareanidiotfornotinvestingit

**Buehler445** · 02-01-2013, 01:02 PM

Quote:

Originally Posted by ThaVirus

What's the difference, broskino?

Return = forms sent to IRS calculating total tax liability, payments and what you owe/refund.

Refund = overpayment to IRS.

**luv** · 02-01-2013, 01:06 PM

Paying off my car!

Dante84 · 02-01-2013, 01:36 PM

I'm getting 2K back!

My credit card will go to zero balance for the first time since college (I'm 26) and my school loan will be 100% paid off in a single day!!!!

4k left on the car then I'm in the black - FOR GOOD.

hometeam · 02-02-2013, 01:01 AM

Quote:

Originally Posted by hometeam

For the first year ever, I will receive a sizable return. Every penny save for maybe a hundred dollars will go to debt payoff. If everything pans out right, I will have only my mortgage left.

Did my taxes tonight.. getting back enough to do it. ($3953) Debt can suck it! Now to get this house sold~

Coach · 02-03-2013, 10:28 AM

Quote:

Originally Posted by Bwana

Not bad at all. A $199 refund from the feds and I owed the state $334. I can live with that.

That's not bad at all. Generally it's a refund from a federal and owe the state is about the norm these days, unless some people withheld more for the state taxes. I normally add in another $5 withholding for the state, so that way that my bill to the state is low, which is $66 that I owe. I'll be getting a nice refund from the federal.

JASONSAUTO · 02-03-2013, 10:30 AM

Quote:

Originally Posted by Buehler445

Next year I get to do that. Hooray!

Shit I've been doing that for a while. Sucks
Posted via Mobile Device

Coach · 02-03-2013, 10:32 AM

Quote:

Originally Posted by Buehler445

Return = forms sent to IRS calculating total tax liability, payments and what you owe/refund.

Refund = overpayment to IRS.

This.

**Bwana** · 02-03-2013, 10:38 AM

Quote:

Originally Posted by Coach

That's not bad at all. Generally it's a refund from a federal and owe the state is about the norm these days, unless some people withheld more for the state taxes. I normally add in another $5 withholding for the state, so that way that my bill to the state is low, which is $66 that I owe. I'll be getting a nice refund from the federal.

I hear ya. I went in and had the office manager take out an exta $20 a check so I won't have to deal with it next year. My tax lady also called and said there was a glitch in her program and I only owed $94 in state this year, so I expect a $240 refund on the excess state I sent in as well. We'll see how fast that happens.

Coach · 02-03-2013, 10:41 AM

Quote:

Originally Posted by Bwana

I hear ya. I went in and had the office manager take out an exta $20 a check so I won't have to deal with it next year. My tax lady also called and said there was a glitch in her program and I only owed $94 in state this year, so I expect a $240 refund on the excess state I sent in as well. We'll see how fast that happens.

Yeah, that's a good thing that you took out the extra $20 a check (I'm assuming both federal and state?), otherwise, the bill would have been fatal for you... lol.

JASONSAUTO · 02-03-2013, 10:41 AM

Quote:

Originally Posted by Buehler445

Depends on where you are. If you are paying in a bunch in tax, why should they get a huge break when you don't? That's why people are bitter.

Also I've seen returns that worthless ****ers make 14000 at some pile of shit job, have a kid, live with the parents and just be ****ing worthless altogether. IIRC they had <500 withheld and are due a refund of 5500. That's what pisses me off more than anything.

This. I'm paying that money to them
Posted via Mobile Device

**Bwana** · 02-03-2013, 10:42 AM

Quote:

Originally Posted by Coach

Yeah, that's a good thing that you took out the extra $20 a check (I'm assuming both federal and state?), otherwise, the bill would have been fatal for you... lol.

Exactly

RedDread · 02-03-2013, 11:24 AM

Got back $666 federal, maybe they're trying to tell me something...

lewdog · 02-17-2013, 07:53 PM

Still waiting on a Special K form before I can officially file but based on turbotax I will be getting 5k! Must be because of making decent money but only working 7 months since I graduated in May, meaning I paid a lot of taxes but ended up in a much lower tax bracket. Plus I had some deductions for that money I paid for school. Anyway, pretty jacked about it!

Probably pay a little extra on my student loan, put some extra in my Roth IRA and get my girl a ring!

El Jefe · 02-17-2013, 08:14 PM

Quote:

Originally Posted by lewdog

Still waiting on a Special K form before I can officially file but based on turbotax I will be getting 5k! Must be because of making decent money but only working 7 months since I graduated in May, meaning I paid a lot of taxes but ended up in a much lower tax bracket. Plus I had some deductions for that money I paid for school. Anyway, pretty jacked about it!

Probably pay a little extra on my student loan, put some extra in my Roth IRA and get my girl a ring!

Sweet sack, that's freaking awesome brother!

**Buehler445** · 02-17-2013, 09:34 PM

Quote:

Originally Posted by lewdog

Still waiting on a Special K form before I can officially file but based on turbotax I will be getting 5k! Must be because of making decent money but only working 7 months since I graduated in May, meaning I paid a lot of taxes but ended up in a much lower tax bracket. Plus I had some deductions for that money I paid for school. Anyway, pretty jacked about it!

Probably pay a little extra on my student loan, put some extra in my Roth IRA and get my girl a ring!

K-1?

Don't get too hot to trot. K-1 is a form that has to report income. You're income may be higher.

01-30-2013, 07:35 AM
El Jefe Don't tread on me. Join Date: Nov 2006 Location: Where the peaches grow Casino cash: $136369	It's that time of year, TAX RETURN TIME! For the past 2-3 years I have started a thread about what people were going to spend their tax return on. While greeted with some hostility, most people actually enjoyed the threads. I don't know how much I will get back, but I have some big plans for it! I am going to try to pay a grand or so on my wifes car (We owe 3k). I am going to try and slide as much as I can at my wife's student loans (only owe 11k). Outside of those two debts, we don't have anything else luckily, because I pay out of pocket for school (ouch). My next step depending on how much I get back would be to put at least another grand into our house fund. I live on James street, and I have designated our house fund as "Operation James Street Freedom". I would like to put some money into my IRA, currently it has none. Give my wife a little extra walking around money. I think the last thing I would like to do is give some money to our Deacon fund at my church. This is a fund that is given by church members and distributed to the needs of the church and community if need be by the Deacon board. This fund has helped a lot of people in very bad spots, and it's my duty to help out my fellow man. Our church also houses the food pantry for our community, and we received emails saying the food pantry is direly low, they have served more families this month than ever before. So I would love to take a hundred or so and buy some food to donate. What dreams do you guys have? I know most of the people here will probably pay down bills, but its fun to dream anyways. inb4youareanidiotfornotinvestingit
Posts: 7,535

02-01-2013, 01:06 PM	#137
luv Mortal Luv Join Date: Dec 2004 Location: Springfield, MO Casino cash: $974036	Paying off my car! __________________ It's never too late to become the person you were meant to be.
Posts: 58,019

02-01-2013, 01:36 PM	#138
Dante84 Tossed Salad & Scrambled Eggs Join Date: Jan 2009 Location: ATX & OPKS Casino cash: $97745	I'm getting 2K back! My credit card will go to zero balance for the first time since college (I'm 26) and my school loan will be 100% paid off in a single day!!!! 4k left on the car then I'm in the black - FOR GOOD. __________________ From: ***, Scott Sent: Tuesday, August 31st, 2010 8:50 AM To: Hamilton, Brandon Subject:** RE: AC in Weight Room Brandon - gum wrapper and ball of hair on player staircase for two days now... scott
Posts: 7,544

02-03-2013, 11:24 AM	#147
RedDread Veteran Join Date: Nov 2003 Location: Back in KC Casino cash: $191	Got back $666 federal, maybe they're trying to tell me something...
Posts: 3,785

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