is it sad that i get super excited to do my taxes?

[brianmanahan]

Money in. Money out. Make money make more money for you.

+1, this refund is going into VTSAX and VTIAX

 

[PenguinPower]

But you already spent money on things and are happy your money comes back to pay for them?

I don't understand and cannot understand this mentality.

Same reason I get pissed at the tax return commercials that say well give you a loan on your tax refund and promise to do your taxes without one.

Chicken and egg. Shit in one hand piss out the other.

Money in. Money out. Make money make more money for you.

I already spent it? Don't remember saying that, and pretty sure I haven't. I do have my eye on those items and have some good deals lined up though.

I'm fairly certain that my current investments are well supporting my family's needs for the future, but I do appreciate your advice (without any knowledge of my current financial situation).

 

[Hayabusa Rider]

My situation is somewhat unpredictable so I have more withheld than strictly necessary. That means I get money, and that's worth anticipating.

 

[IAteYourMother]

I don't have witholdings, so it sucks.

 

[GTaudiophile]

You're happy because you are forced at "gun-point" to give the Feds an interest free loan? You are happy when they return a portion of what is yours and you have worked hard to earn? You are happy that they then (at best) spent it inefficiently and at worst spend it to start wars, smuggle drugs, eavesdrop on you (NSA), pay Big Pharma, Big Farm, Big Defense, etc. billions of Dollars to make your life more difficult? You like that?

 

[brianmanahan]

You're happy because you are forced at "gun-point" to give the Feds an interest free loan? You are happy when they return a portion of what is yours and you have worked hard to earn?

jeez gt, take it easy

i dont like it for the rebate, i just like the whole calculation process. i would be happiest if it came back with a 0$ rebate. hopefully when i get enough investments, that will be the case

You are happy that they then (at best) spent it inefficiently and at worst spend it to start wars, smuggle drugs, eavesdrop on you (NSA), pay Big Pharma, Big Farm, Big Defense, etc. billions of Dollars to make your life more difficult? You like that?

last time i checked

<------ P&N was thattaway :whiste:

 

[Fritzo]

That feeling of excitement fades as you get older, have to get an accountant because of all your forms, and you have to pay big money to sit in a stuffy office with a fat, sweaty guy for 2 hours.

 

[brianmanahan]

That feeling of excitement fades as you get older, have to get an accountant because of all your forms, and you have to pay big money to sit in a stuffy office with a fat, sweaty guy for 2 hours.

i used to use an accountant

then i realized i could do for 20$ or 40$ what she did for 300$

 

[gorcorps]

I was this year because I started a mortgage. Gonna get quite a bit back.

 

[jaedaliu]

i know

but i dont really have any way to adjust them to get the withholdings to be right

plus as my taxable dividend amounts go up every year, more of the tax surplus is used to pay the taxes for those

You can increase your withholding allowance by 1 per year until you zero out your surplus. Then as the amount you owe goes up because you're making so much in dividends, decrease your withholding allowance.

 

[DrPizza]

Yep ... congrats on the interest-free loan to Uncle Sam!

Exactly! You could have put that money into savings instead! And, let's say that you get a $2000 return. At current interest rates, you lost out on NINE WHOLE DOLLARS, sucker!

I have absolutely no idea what to expect on my return this year. Somewhere between owing $2000 and getting back $4000. I figure, "close enough, and not worth the bother to track it better during the year." Current effort = 0. Effort to get the return as close to 0 as possible would be much, much more.

 

[CPA]

When you do a mid-year and 3/4 year review, then a Dec 31 review using paystubs and itemized deduction estimations prior to getting anything in the mail, call me.

 

[Fritzo]

i used to use an accountant

then i realized i could do for 20$ or 40$ what she did for 300$

Our taxes are complex. I tried doing them myself in 2011 and they're still screwed up.

 

[dbk]

/rant on

This is what I don't understand and will never understand. So you got some extra cash, that you planned on this windfall, YOUR MONEY by the way that the government got to use in any means they see fit without interest, and already have it spent before it is even in your hands.

You don't get rich by spending money. Make every single person make quarterly payments so they see what they pay in taxes.

/rant off

This girl I know claims 0 on her w-4 so she can experience the joy of receiving a giant refund.. LOL. She also took out a 72 mo auto loan because the monthly was the smallest so that's the best option! :awe:

 

[Tweak155]

This girl I know claims 0 on her w-4 so she can experience the joy of receiving a giant refund.. LOL. She also took out a 72 mo auto loan because the monthly was the smallest so that's the best option! :awe:

Nothing wrong with that. Some people prefer different things. Just as long as she's aware she is paying more for it.

 

[Vdubchaos]

I'm a mechanic, general contractor and do EVERYTHING around the house. I don't remember last time I paid someone for anything.

But there is ONE thing I pay someone to do for me, that's my taxes (and I can probably do it myself as well).

OP, if it's something you enjoy/like to do, that's all that matters. Whatever floats that boat/makes you happy!

 

[Vdubchaos]

This girl I know claims 0 on her w-4 so she can experience the joy of receiving a giant refund.. LOL. She also took out a 72 mo auto loan because the monthly was the smallest so that's the best option! :awe:

I have 0 taxes withdrawn from my paycheck and still get a refund. If my wife didn't work it would be few thousand.

That's right, government pays me to work.

But of course all that will end when kids reach 18 and I'm sure I will pay back x10 over the years.

 

[soulcougher73]

I usually break even or withing like $100 total either way between state and fed.

 

[z1ggy]

Getting back $3600 this year. Down from about $3650 last year.

Get most of it back due to property/real estate taxes.

 

[Zargon]

This girl I know claims 0 on her w-4 so she can experience the joy of receiving a giant refund.. LOL. She also took out a 72 mo auto loan because the monthly was the smallest so that's the best option! :awe:

my brother does that.

its the only way him and wife wont spend everything all the time.

built in savings account

its sad, but I can see why he does it. no spending control. it pretty much always goes to buy something like an appliance or fix something that 'works' that he kept using because they are seemingly unable to save up to replace

it must suck to live like that though

 

[Anubis]

It's pretty sad when people get excited because they overpayed their taxes.

oh god not this shit again

ill prob get back somehwere between 1-2k, been that way for years.

i think my dad is getting back something like 80k this year

 

[IronWing]

oh god not this shit again

It's every year. Some years I'm tempted to throw it out here myself just to be an ass. With minimal effort we can probably get someone's forehead veins popping.

 

[HardcoreRobot]

do not like. usually end up owing, and am worried I am doing it wrong/missing something

 

[hclarkjr]

seriously it is the thing i look forward to most, from january to april

i usually get like 500$-1000$ back... that i promptly invest

is that all? i get over $2200 back and really look forward to it

 

[BurnItDwn]

500-1000 refund ... your withholding are already pretty good/close!

I look forward to getting mine done/over with. Whatever refund I get I will just apply to my mortgage. After 6 years of paying the mortgage and house dropping from like 180K to 100K and then slowly climbing back up (around 150k now)... I am finally starting to build some equity!