Taxes are done... phew.

[e30Matt]

Just finished up the good ol' 1040 for this year. Made a nice chunk of change, time to pay for that M50. :)

[bolognablake]

I made much more money than I did last year, didn't have enough taken out, and I have virtually no deductions.

I'm screwed. :(

[jbsjunk]

I made much more money than I did last year, didn't have enough taken out, and I have virtually no deductions.

I'm screwed. :(

Same here. Did mine a few days ago. Owed the Feds $40.

That put a damper on things. :( Gotta change my withholdings for this year.

[bolognablake]

Same here. Did mine a few days ago. Owed the Feds $40.

That put a damper on things. :( Gotta change my withholdings for this year.

I haven't gotten my W2 yet, so I won't know how bad it is for a few more days.

[2002maniac]

I still dont have my W2's :(

[jflip2002]

I claim single 0 all year long. So hopefully I'll get another pretty fat return. Enough to fund the remaining $1k left on our wedding coming up in September, and put the rest into the whip.

[mrsleeve]

I claim 0 + 10 on each side, that way I never have to pay. I take Unemployment 1-3 months a year an do so with no taxes pulled out and I still normaly get 1300-2k back.

edit I have nearly no deductions

[bolognablake]

I claim single 0 all year long. So hopefully I'll get another pretty fat return. Enough to fund the remaining $1k left on our wedding coming up in September, and put the rest into the whip.

Well, there's your problem.

:mrgreen:

[RobertK]

I hope you guys realize that getting a tax return is a BAD thing. Whatever you get back at the end of a tax year is what you were missing from your paycheck all year.

Nothing like lending your hard earned money to the Feds for a year and letting them pay it back to you at 0% interest at the end of the year. I purposely claim 2 on my W4 so I can break even or pay in a bit. Better off getting the full use of my money so I can put it in savings or my retirement and get paid interest.

Last year I broke $0 which was awesome. This year I will probably pay in $200-$300 but I'm preapred for it.

[Jand3rson]

We ended up getting something like $2500 back last year (having a kid makes a HUGE difference), which was a godsend, because we owed like $2700 from the year before, so it wiped out that tax debt, which was awesome. This year, my wife started her own in-home daycare, and almost everything in our house that the kids use is deductible, including my furniture, my new TV, everything. The tax preparer we talked to said that most daycare providers break even at tax time, if not a bit over. And that's not even including my income, and I should be getting a lot back.

[atomic]

Last year, even after all deductions and writing off everything in the world I could, I still wrote the IRS a check for 18K... And that was after my accountant got it down to that from 40K that I had it at.

[hugh jass]

Same here. Did mine a few days ago. Owed the Feds $40.

That put a damper on things. :( Gotta change my withholdings for this year.

Actually, thats pretty good. If you get a big refund, it means you loaned the government money for free the last year and they are paying you back. If you owe too much, they will penalize you for not paying enough during the year. You want to be as close to zero as possible at the end of the tax year.

[blunttech]

Actually, thats pretty good. If you get a big refund, it means you loaned the government money for free the last year and they are paying you back. If you owe too much, they will penalize you for not paying enough during the year. You want to be as close to zero as possible at the end of the tax year.

I WAS TALKING TO COPE AND IM GOING TO GET ONE OF THOSE RAPID refund tax loans so i can go on vacation and get some of the things i really want and deserve

[jflip2002]

I hope you guys realize that getting a tax return is a BAD thing. Whatever you get back at the end of a tax year is what you were missing from your paycheck all year.

Nothing like lending your hard earned money to the Feds for a year and letting them pay it back to you at 0% interest at the end of the year. I purposely claim 2 on my W4 so I can break even or pay in a bit. Better off getting the full use of my money so I can put it in savings or my retirement and get paid interest.

Last year I broke $0 which was awesome. This year I will probably pay in $200-$300 but I'm preapred for it.

I understand that. But my problem is I'm not responsible enough to put my money away lol. I tend to just spend the random $40-$50 on something stupid. Like if you saw my collection of protein powders, youd be amazed lol. All because I have a little extra cash. Id rather get 0% on my cash, but at least know that I will have a nice check at the beginning of each year.

[1991 318is]

Last year, even after all deductions and writing off everything in the world I could, I still wrote the IRS a check for 18K... And that was after my accountant got it down to that from 40K that I had it at.

In my family it is a back-handed insult meaning I paid more in taxes than you made last year. I'm holding my breath on Bush's stimulant package because I got to get paid!