Just got done filing my 2006 Tax return

[j00fek]

Originally posted by: Kroze


$1300 woohoo!

 

[jhayx7]

Originally posted by: monk3y
I still haven't gotten my W-2 yet

Me either...

Last year I owed $22 in federal and got back $25 in state.

 

[CptObvious]

I got my W-2 yesterday and could really use the money ASAP, but my 1098-E for my student loans isn't available until the end of the month. :frown:

 

[BKLounger]

Originally posted by: Bateluer

Originally posted by: eos

Originally posted by: Cdubneeddeal

Originally posted by: LukFilm
Yet another ret... um, slow person who thinks that having a large tax refund is a good thing. :roll:

? I don't get it. If I fork out over $3000 in Federal, I hope to get back a good chunk of that.

People with more experience than you in money matters are suggesting that you talk with an accountant and adjust your withholding so at the end of the year, you get back very little. This way, your paychecks are larger ($1300/number of paychecks) and you could invest that money. You're going from claiming 0 to claiming 3 or whatever to increase the size of your paychecks. YOU should be able to invest the money the government would normally hold all year until you file.

This could be difficult to do if your paychecks fluctuate a bit. Mine do.

I filed last week and am looking forward to my $860 payback. Might be getting into model railroading.

The problem is that people don't invest that money. Since it only increases the size of their pay checks by a small amount, it merely turns into impulse spending money.

I am looking forward to a decent sized chunk of tax money back after I file. Seems almost everybody waits until the last limit to file their taxes.

Is anyone using any tax prep software, like Taxcut?

I did last year but this year I am doing everything by hand and have been reading the 1040 to see exactly what can and can't be claimed on taxes.

 

[Feldenak]

Got my 1098-E, waiting on my wife's and both of our W-2s before we can file.

 

[Philippine Mango]

A little late don't you think? Always follow the ned flanders routine and get it done the same year you're filing them for..

 

[49erinnc]

I filed last week and my Federal return is supposed to be direct-deposited on the 26th. Still no word on State though.

And I agree about enjoying the refund. I like getting a big check back in the spring. I use most of mine for home improvements that increase the value of my home. And what's left, I put into my Money Market. Occasionally, I'll splurge on something "fun" though. Gotta live a little...

 

[AMDMaddness]

I see it all as a forced savings for me. I'm getting back $2800 federal and $1400 state. I way overpaid, I Think I am going to adjust my W-4 info this year..

Pete

 

[jlmadyson]

Nice, was just going over my Federal yesterday, had some real issues there for a second. For some reason the H & R Block software wasn't calculating my child tax credit correctly. So I was thinking at first I would be paying in 775 or so, well after I went back and checked on why I was getting 0 child tax credit it switched it to a 2300 refund ftw.

 

[Feldenak]

Looks like we'll be getting back around $400 from the fed....dunno about the state.

 

[Insane3D]

As soon as I read the first post, I could already predict the interest free loan preachers....

:roll:

 

[Engineer]

Damnit, I can't file because my company has told me that they are giving me an overpayment for 401k (HCE crap) distribution in March and it "WILL COUNT" on 2006 taxes. I see no reason to file now and get a very small refund and then turn around and have to file a 1040X just to pay in April. I'll just wait to pay in April.

 

[jfall]

I'm going to end up owing around $1,000

 

[Gunslinger08]

Originally posted by: Insane3D
As soon as I read the first post, I could already predict the interest free loan preachers....

:roll:

I don't understand why everyone gets upset at them. Honestly, can you not budget your money well enought that you need the government to hold it for you? Put that $1300 in your savings account and earn 5+% on it. With an average balance of $650 over the year, that's $32.50 extra cash money.

 

[Squisher]

I hope it'll be better that $3400 I had to pay the Feds last year.

:thumbsdown:AMT:thumbsdown:

 

[Insane3D]

Originally posted by: joshsquall

Originally posted by: Insane3D
As soon as I read the first post, I could already predict the interest free loan preachers....

:roll:

I don't understand why everyone gets upset at them. Honestly, can you not budget your money well enought that you need the government to hold it for you? Put that $1300 in your savings account and earn 5+% on it. With an average balance of $650 over the year, that's $32.50 extra cash money.

Wow! $32.50!

This is has been beaten to death over and over. I guess what I really find it hard to understand is why you guys can't comprehend someone might do something different than you, and just accept it. No one can post a thread about getting anything other than a $1 refund without those posts starting...

It's like the repost/grammar nazi's...

 

[Gunslinger08]

Originally posted by: Insane3D

Originally posted by: joshsquall

Originally posted by: Insane3D
As soon as I read the first post, I could already predict the interest free loan preachers....

:roll:

I don't understand why everyone gets upset at them. Honestly, can you not budget your money well enought that you need the government to hold it for you? Put that $1300 in your savings account and earn 5+% on it. With an average balance of $650 over the year, that's $32.50 extra cash money.

Wow! $32.50!

This is has been beaten to death over and over. I guess what I really find it hard to understand is why you guys can't comprehend someone might do something different than you, and just accept it. No one can post a thread about getting anything other than a $1 refund without those posts starting...

It's like the repost/grammar nazi's...

I just don't understand why people would give up free money when it takes no more effort than changing a 1 or a 2 to a 3 or a 4 on your tax forms. $32.50 means a free tank of gas or a free week of lunches if you pack. You don't get wealthy by scoffing at free money.

 

[Engineer]

Originally posted by: Squisher
I hope it'll be better that $3400 I had to pay the Feds last year.

:thumbsdown:AMT:thumbsdown:

AMT sucks ass and if Congress doesn't get off their @ss and do something about it, it's going to grow from 3.5 million people paying AMT to over 26 million for 2007.

 

[Insane3D]

Originally posted by: joshsquall

I just don't understand why people would give up free money when it takes no more effort than changing a 1 or a 2 to a 3 or a 4 on your tax forms. $32.50 means a free tank of gas or a free week of lunches if you pack. You don't get wealthy by scoffing at free money.

I suppose if everyone just did everything like you, we would live in a Utopia...we can't have that now.

Duh!

If it bothers you, here's some advice...

Don't even click on the thread.

 

[Gunslinger08]

Originally posted by: Insane3D

Originally posted by: joshsquall

I just don't understand why people would give up free money when it takes no more effort than changing a 1 or a 2 to a 3 or a 4 on your tax forms. $32.50 means a free tank of gas or a free week of lunches if you pack. You don't get wealthy by scoffing at free money.

I suppose if everyone just did everything like you, we would live in a Utopia...we can't have that now.

Duh!

If it bothers you, here's some advice...

Don't even click on the thread.

You're doing a great job of not actually responding to anything I say, just attacking me for having an alternate view. Asshole list + 1.

 

[AgentJean]

Originally posted by: LukFilm
Yet another ret... um, slow person who thinks that having a large tax refund is a good thing. :roll:

People like that are a good reason why we need to do away with the paycheck withholdings.

They'd be hard press come April 15th, but then the people will know how big of a red wood tree the fed is trying to screw them with. :Q


I just hate the fact that the fed gets the overpayment intrest free, but I have to pay intrest if I'm short by a few bucks. :|

 

[Insane3D]

Originally posted by: joshsquall
You're doing a great job of not actually responding to anything I say, just attacking me for having an alternate view. Asshole list + 1.

Awww, that's sweet. As I said, this has been beaten to death, and I'm not going to derail this thread with endless back and forth posts trying to prove who is "right".

Why can't you just accept other people's financial decisions might not be the same as yours, and just accept it?

 

[Engineer]

Originally posted by: AgentJean


I just hate the fact that the fed gets the overpayment intrest free, but I have to pay intrest if I'm short by a few bucks. :|

That I agree with 100%. Why should I have to pay interest/penalties if something cause me to owe over a certain amount and yet they pay zero interest if they owe me a refund. It's time for a change! :Q

 

[Engineer]

Originally posted by: Insane3D

Originally posted by: joshsquall
You're doing a great job of not actually responding to anything I say, just attacking me for having an alternate view. Asshole list + 1.

Awww, that's sweet. As I said, this has been beaten to death, and I'm not going to derail this thread with endless back and forth posts trying to prove who is "right".

Why can't you just accept other people's financial decisions might not be the same as yours, and just accept it?

Why not let people throw out a perfectly good alternative view and accept it?

 

[Insane3D]

I'm not saying posing an alternative view is a problem...

My problem is how it's presented generally. Look at the first person, not joshsquall, who posted this view. The inferred that the poster was retarded and stupid because they preferred to get a refund.

I have no problem with presenting alternative views, and I think josh is generally right. My problem is the people who post it like these people are making a huge financial mistake, are stupid, have no idea how to manage their money..etc. It's basically a holier than thou approach. It seems so much on these forums people take their preferences and opinions and act like everyone who does something differently is just being stupid.

The other reason these posts drive me, *cough* insane *cough* , is because it usually ends up with a small group of people going back and forth over the same argument. This is why I wasn't replying in great detail to his posts because I didn't want this to turn into yet another one.

:beer: