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Guitar chord forum - chordie → Chordie's Chat Corner → THEY WANT THEIR (YOUR) MONEY!!!
Don't forget that today's the day to file your Federal taxes. Uncle Sam want's his money so send it in today. If he owes you money back you gotta send that paperwork in as well. Don't make HIM come after you.
NELA
I always try to end up with a $0 balance come tax day. I want to pay what I owe, and keep the rest working for me. I got $650 back this year, which is OK considering the checks I had to write the last three years.
I'll probably need to adjust my withholding again, though.
Well look at it another way, if ya don't file and pay they put ya in jail - free room and board, free healthcare, free legal representation, three square meals per day, free use of the exercise room - all paid for by those of us who do file and pay. anybody see a down side?
Wrote a check for just under $4K yesterday. I guess I should feel lucky to have a job and be able to contribute to those that won't.
Wrote a check for just under $4K yesterday. I guess I should feel lucky to have a job and be able to contribute to those that won't.
Ouch!!!
LOL! As the beneficiary of your largesse Topdown, may I be the first to thank you for your generosity! Be on the lookout for an e-mail that I have yet to write. Things have changed for summer plans.
I am retired I don't have to file but I did for over 40 years and complained about all the money that was taken out of my checks for SS that went to people who retired funny how things work out in life
Wrote a check for just under $4K yesterday. I guess I should feel lucky to have a job and be able to contribute to those that won't.
Yup. They took $3600 from me. I've heard it described like this:
If you owe, then you have had the extra money during the course of the year. If you get a refund, then the Gov't has had your money during the course of the year. It is better to owe because you can make your money work for you during the year rather than having the gov't use it. Something like that.
This is one area that makes being self employed hard.
first time in 4 yrs ill be getting something back.of course I got to claim my daughters coll, and new AC/Heater, and finally enough out of pocket med payments to claim. that sorta sucks though too.
Have any of ya'll ever thought that we ALL pay into Social Security and it's going broke. Have ya'll ever thought that NO ONE pay's into Walfare and it's got plenty of money. Kinda strange, ain't it.
NELA
topdown wrote:Wrote a check for just under $4K yesterday. I guess I should feel lucky to have a job and be able to contribute to those that won't.
Yup. They took $3600 from me. I've heard it described like this:
When we sold the business, we wrote a check for $18,000 and still ended up with a $70K tax liability. We did pretty well that year, but that still stung. Had the investment bankers not been a bunch of clowns, we could have cut about $10K out of that, but we ended up paying the short term gains rate rather than the long term gains rate. Thanks bankers, you clowns!
If you owe, then you have had the extra money during the course of the year. If you get a refund, then the Gov't has had your money during the course of the year. It is better to owe because you can make your money work for you during the year rather than having the gov't use it. Something like that.
That is basically how I look at it, and why I always try to set up for a $0 refund.
Jerome has it right,that was the way I did it when I was working. I also put money into Edward Jones funds and they did a real good job of investing for me. All taxpayers put their taxes into walefare the government makes us do it.
A Belated Happy Tax Day! to all,
Done in a timely manner thanks to the wonderful interweb.... just waiting for the eagle to regurgitate what little extra we fed it this past year. That bird has no sense of humor about going hungry.... many years ago I made the mistake of "underwitholding", got hit with $81k in penalties and interest for the error. Needless to say I am VERY VERY precise in my accounting.
Take Care;
Doug
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