My tax refund is just about what I owe in past taxes

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  • Dominic49
    E30 Fanatic
    • Feb 2007
    • 1373

    #31
    Originally posted by NitroRustlerDriver
    If I made significantly more, then I can see this logic. But when I only make enough to gain $200 in interest from a savings account opened with the money I would be paying the government, it's just a mute point. I would then have to pay taxes on that interest and still likely owe the government more taxes.

    And this all assumes I actually follow through with putting money aside in an account, which is honestly the hardest part sometimes.

    I'll take my $1200 bonus at the beginning of the year thank you.
    But thats the thing, it tales almost 0 extra effort. After changing your deductions on your w4, Set up a high interest savings account and direct deposit 35% of your check or whatever your past 3 years effective tax rate was plus 5% and watch the money grow. At tax time transfer the money to checking and write the check

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    • z31maniac
      I waste 90% of my day here and all I got was this stupid title
      • Dec 2007
      • 17566

      #32
      Originally posted by redsubdivisions
      Having kids isn't always something that is planned, a majority of pregnancies are unplanned. But like everyone else said...why should the children have to suffer? I paid my taxes into the system, I am getting back what I deserve. I don't give a fuck what people think about it, either.
      People who are even halfway responsible can EASILY prevent an "unplanned" pregnancy.

      Originally posted by Dominic49
      Set up a high interest savings account
      Any ideas on where this is? I haven't seen anything I would call "high-interest."
      Need parts now? Need them cheap? steve@blunttech.com
      Chief Sales Officer, Midwest Division—Blunt Tech Industries

      www.gutenparts.com
      One stop shopping for NEW, USED and EURO PARTS!

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      • slammin.e28
        שמע ישראל
        • May 2010
        • 12054

        #33
        Originally posted by z31maniac
        People who are even halfway responsible can EASILY prevent an "unplanned" pregnancy.



        Any ideas on where this is? I haven't seen anything I would call "high-interest."
        Anything above .1% these days.
        1974.5 Jensen Healey : 2003 330i/5

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        • ForcedFirebird
          R3V OG
          • Feb 2007
          • 8300

          #34
          Originally posted by z31maniac
          People who are even halfway responsible can EASILY prevent an "unplanned" pregnancy.
          The only solution to that is abstinence. Only one of our 4 children were "unplanned" but he was just a year earlier than expected. Apparently birth control was only 99.9% effective.


          If your horse is so high, and you thnk we need to cut gov't spending, take a voluntary pay cut.
          john@m20guru.com
          Links:
          Transaction feedback: Here, here and here. Thanks :D

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          • chrisesteschiro
            Grease Monkey
            • Jul 2007
            • 361

            #35
            Owe 20 K, on taxes (have the cash to pay it) and drive an E30 :(

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            • InuFaye
              R3VLimited
              • May 2010
              • 2221

              #36
              Originally posted by slammin.e28guy
              Haven't done mine yet. Looking at my W2, I'm gonna owe owe owe. I've never gotten shit back from the Fed or State. Fuck Taxes, I pay every year and my roads still fuckin' suck.
              Getting 4k back.

              FEELS GOOD MANG.
              1986 Plymouth Horizon. Base.

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              • z31maniac
                I waste 90% of my day here and all I got was this stupid title
                • Dec 2007
                • 17566

                #37
                Originally posted by ForcedFirebird
                If your horse is so high, and you thnk we need to cut gov't spending, take a voluntary pay cut.
                You're a genius.

                If I was paid less, I would pay less taxes, which would be less support for your kiddos.
                Need parts now? Need them cheap? steve@blunttech.com
                Chief Sales Officer, Midwest Division—Blunt Tech Industries

                www.gutenparts.com
                One stop shopping for NEW, USED and EURO PARTS!

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                • ForcedFirebird
                  R3V OG
                  • Feb 2007
                  • 8300

                  #38
                  Originally posted by z31maniac
                  You're a genius.

                  If I was paid less, I would pay less taxes, which would be less support for your kiddos.
                  Exactly, it's a win-win. See, I don't need your tax money, but do benefit and use my tax savings properly for the benefit as a whole. You are grouping all parents in the same bubble and think they are getting "hand-outs" while, yes, some are. You see we could easily afford children 15yrs ago when we started having them, but then the wife's income was severed due to the economy and other people living beyond their means. And, instead of hand outs, I stepped up to the plate and started a second business (yes crazy in a recession, right?) and are creating jobs while MY (and employees) tax dollars go to YOUR paycheck.
                  john@m20guru.com
                  Links:
                  Transaction feedback: Here, here and here. Thanks :D

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                  • cale
                    R3VLimited
                    • Oct 2005
                    • 2331

                    #39
                    Originally posted by Farbin Kaiber
                    They give you tax refunds and free healthcare in Americas Hat?
                    Indeed they do! How about down there in Canada's toilet ;)

                    Comment

                    • z31maniac
                      I waste 90% of my day here and all I got was this stupid title
                      • Dec 2007
                      • 17566

                      #40
                      Originally posted by ForcedFirebird
                      You are grouping all parents in the same bubble and think they are getting "hand-outs" while, yes, some are.
                      It's interesting that YOU aren't getting a hand-out, only others are.

                      ;)
                      Need parts now? Need them cheap? steve@blunttech.com
                      Chief Sales Officer, Midwest Division—Blunt Tech Industries

                      www.gutenparts.com
                      One stop shopping for NEW, USED and EURO PARTS!

                      Comment

                      • ForcedFirebird
                        R3V OG
                        • Feb 2007
                        • 8300

                        #41
                        Originally posted by z31maniac
                        It's interesting that YOU aren't getting a hand-out, only others are.

                        ;)
                        Not talking a break on taxes. People who have, enjoy, and are raising responsible children are clouded by those who have them for financial reasons or because they are ignorant.

                        You are pulling double standards. You don't mind your taxes going to schools to help the kids, but don't want others to get a tax break in turn helping those same kids.
                        john@m20guru.com
                        Links:
                        Transaction feedback: Here, here and here. Thanks :D

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                        • Vedubin01
                          R3V Elite
                          • Jun 2006
                          • 5852

                          #42
                          The IRS sent my Tax Return back AGAIN...

                          ...because of my response to the question: "List All of Your Dependents"

                          I replied -

                          -20 million illegal immigrants.
                          -3 million crack heads.
                          -42 million unemployable people on food stamps.
                          -2 million criminals in over 243 prisons.
                          -535 fools in the U.S.. House and Senate.

                          Apparently this was not an acceptable answer.
                          Build your own dreams, or someone else will hire you to build theirs!

                          Your signature picture has been removed since it contained the Photobucket "upgrade your account" image.

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                          • e30prideTN
                            E30 Addict
                            • Apr 2006
                            • 442

                            #43
                            ^ haha, that's awesome. Nicely (& honestly) put.

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                            • Court M3
                              R3V OG
                              • Jan 2004
                              • 6713

                              #44
                              Originally posted by Ryan Stewart
                              I owe about $300 for fed and get $55 back from state. That is basically how I like it. A refund is just overpayment for most people. Id rather give them as little as possible all year long (just enough to not get the underpayment penalty) and then pay at the end of the year.
                              This and put that money saved into my IRA.
                              Continuous For Sale Thread
                              323i s50

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                              • freeride53
                                R3V OG
                                • Jul 2007
                                • 11972

                                #45
                                My last tax return was like a cool g'.
                                Now that I'm in school year-round, and rowing D2, I have no funkin' time.
                                :(

                                1991 BMW 318i (Old Shell RIP, Now Being Re-shelled & Reborn)
                                1983 Peugeot 505 STI
                                1992 Volvo 240 Wagon
                                2009 Toyota 4Runner SR5 Sport 4WD

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