Income Taxe time Whats everyone doing with the returns???

im trying to get the "discus" by solid surfboards. Their stuff is pretty neat. They re-use EPS and Polyurethan foam shapping scraps. I would get the treeless model.

http://solidsurfboards.flyingcart.com/index.php?p=detail&pid=189&cat_id=1

 

the downfalls of bar-tending and waiting tables i just paid 4 grand in taxes and still owe Va another 500 and some change the forefathers are rolling over in their graves

 

Just read that, it was ok. Not sure it told me anything that I didn't already know, except that apparently I'm a bit of a sucker for going to school and getting a job. My refunds are divided between savings, an IRA and a trip to CR in a few weeks.

 

You guys that think you shouldn't be getting any refund are confused, depending on the taxpayer. If you're single, live at home, and don't pay your own tuition - you shouldn't be getting huge returns. Someone like me who pays a mortgage, pays property taxes, recently sold a home, and pays tuition should be getting a return. Personal income withholdings are only one part of the equation. Try paying $10k in mortgage interest without getting any return back. Books like Rich Dad, Poor Dad are good reads but if they worked as well as they're intended to, everyone would be doing well financially.

 

I've been checking Craigslist just seeing whats out there. I probally won't be ready till around May. By then the prices will be up because of the nice weather - figures. As far as paying to much taxes up front - a friend of mine who supposedly understands the whole tax thing advised my wife and I to make some changes so we didn't pay too much up front. We wound up owing around $1600 bucks. Talk about a punch in the mouth. I'd rather know I'm getting something back than being in the hole. I understand we could have fine tuned it better but we just put it back to the way it was because we only got back around $1200.00 any way.

 

maybe buying a new board, or getting a new 3/2 and saving the rest

 

Saving it. I'm a cheap bastard! lol

(5 weddings this year..not counting my own)..gonna need that extra scratch!

 

no refund for me... quite the opposite

 

Same here and I have 2 kids and a mortgage.

 

all my 1099s unite! worst time of year, period...

 

I don't care what you guys do, just thought that some would find the advice helpful. You are clearly confused though if you think that having a mortgage has anything to do with it. And if you think that the fact that you recently sold property is going to give you a larger refund you are in for some serious diasappointment.

That said if I did get a refund I'd like to go back to mainland Mexico!

 

WTF are you talking about?? If you have a mortgage USUALLY your itemized deductions are HIGHER giving you a better chance at a refund.

 

Exactly! Basic guidelines are that you only need to withhold around 90 percent of the expected amount due. For the rich capitalists on this forum making $100K, $200K, $500K and and upwards, those withholdings retained in *your* name are a tidy bit of change that can be earning interest, dividends or capital gains .

 

Ok dude. I'm only 16 months away from my CPA, but I guess you have it figured out.

 

Then why tell people to collect unemployment in the "more surfing time thread" or what you would do.. hippppo

 

Usually people aren't proud of taking gov't handouts.... Just saying Matt. Taxes are necessary but the problem is how were spending it. Enough with that...I'm either going to blow my tax return on beer and food on my trip to costa or invest it and save up for college. Or maybe a ...lost rocket.

 

for those who are getting money

lets go back to what youre going to buy, instead of this arguing

 

Taking unemployment is an abuse if one has no intent of actively seeking employment and instead goes on a free ride. There are more than enough family breadwinners that depend upon the unemployment check to make ends meet in a serious way. Abusing the system drives up the cost for everyone. That is a form of free riding.