Taxes

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OSH's avatar

OSH

Kosh B'Gosh

4,145 posts
Feb 16, 2013 6:10 PM
Who's got them done?

This is the earliest I've ever done mine. But, thankful they are done. If it weren't for a couple 1099-MISC, the wife and I would've gotten a nice return. Oh well. We did barely end up on the positive end this year. Still making peanuts though.

Just refreshing to get them out of the way now.
Feb 16, 2013 6:10pm
Ironman92's avatar

Ironman92

Administrator

49,363 posts
Feb 16, 2013 6:57 PM
We deposited our returns into the back about a week ago.
Feb 16, 2013 6:57pm
Midstate01's avatar

Midstate01

Senior Member

14,766 posts
Feb 16, 2013 7:00 PM
State was deposited thursday and federal should be in any day. Getting nearly 6 grand total.
Feb 16, 2013 7:00pm
SportsAndLady's avatar

SportsAndLady

Senior Member

35,632 posts
Feb 16, 2013 7:13 PM
I have to get a freakin Illinois id before I can get mine...$40 to the state...Illinois is the worst.
Feb 16, 2013 7:13pm
GoChiefs's avatar

GoChiefs

Resident Maniac

16,754 posts
Feb 16, 2013 7:26 PM
My whole $68 from federal has been deposited. Still waiting on the $103 from the state.
Feb 16, 2013 7:26pm
GoChiefs's avatar

GoChiefs

Resident Maniac

16,754 posts
Feb 16, 2013 7:35 PM
ccrunner609;1390431 wrote:5,300 fed for me
I file exempt a lot during the year. I want mine on my paycheck, not at the end of the year.
Feb 16, 2013 7:35pm
LJ's avatar

LJ

Senior Member

16,351 posts
Feb 16, 2013 7:41 PM
ccrunner609;1390431 wrote:5,300 fed for me

Congrats on being horrible with your finances
Feb 16, 2013 7:41pm
Trueblue23's avatar

Trueblue23

BASEDgod

7,463 posts
Feb 16, 2013 7:44 PM
I actually got $1900 back, which is cool. After last year's shitty return, I elected to have more taken out each week. Pretty much like a savings account.
Feb 16, 2013 7:44pm
Crimson and Gray Hair's avatar

Crimson and Gray Hair

Senior Member

384 posts
Feb 16, 2013 7:52 PM
Wish I could deal with it sooner. Between my business and my wife's we often need to file an extension.

I never get money back. I plan my quarterly estimates for the least I can legally pay and just need to be sure my wallet's fat this time of year to pay anything due and fund the retirement accounts. I'd rather not give the money to the IRS in advance.
Feb 16, 2013 7:52pm
LJ's avatar

LJ

Senior Member

16,351 posts
Feb 16, 2013 7:52 PM
Trueblue23;1390440 wrote:I actually got $1900 back, which is cool. After last year's shitty return, I elected to have more taken out each week. Pretty much like a savings account.
Or you could get a real savings account, earn interest, and have money available to you in case of emergencies.

Tax returns are savings accounts for people who can't handle their money.
Feb 16, 2013 7:52pm
M

MontyBrunswick

Feb 16, 2013 7:55 PM
I did mine the last week of January. Already got my return back. $200 or so.
Feb 16, 2013 7:55pm
Crimson and Gray Hair's avatar

Crimson and Gray Hair

Senior Member

384 posts
Feb 16, 2013 8:00 PM
LJ;1390452 wrote:Or you could get a real savings account, earn interest, and have money available to you in case of emergencies.

Tax returns are savings accounts for people who can't handle their money.
Savings accounts get you nothing in today's climate - might as well use your mattress.

Planning for a refund instead just works better for many people. If you can't get your hands on the money then you can't use it for short term urgencies that may occur through the year and still have it coming after filing. I understand why many do it that way. Most of my employees have extra withdrawn from each pay just for that purpose.
Feb 16, 2013 8:00pm
M

MontyBrunswick

Feb 16, 2013 8:04 PM
Crimson and Gray Hair;1390460 wrote:Savings accounts get you nothing in today's climate
wrong
Crimson and Gray Hair;1390460 wrote:Most of my employees have extra withdrawn from each pay just for that purpose.

Most of your employees are idiots, then.
Feb 16, 2013 8:04pm
LJ's avatar

LJ

Senior Member

16,351 posts
Feb 16, 2013 8:08 PM
Crimson and Gray Hair;1390460 wrote:Savings accounts get you nothing in today's climate - might as well use your mattress.

Planning for a refund instead just works better for many people. If you can't get your hands on the money then you can't use it for short term urgencies that may occur through the year and still have it coming after filing. I understand why many do it that way. Most of my employees have extra withdrawn from each pay just for that purpose.

You get about $150 with an Ally account on $1900. Last I checked, that's >$0.


Also, 6 months in, your car breaks down, it's gonna cost $900 to fix.You claim 0 and you have to scrape by to eat, you claim that $1900 throughout the year, you pay to fix your car, still have money in your savings, don't have to worry about how you are going to eat.

Not to mention most people blow it on something stupid anyway. Like I said, its a savings account for people who can't handle their money.
Feb 16, 2013 8:08pm
F

fan_from_texas

Senior Member

2,693 posts
Feb 16, 2013 8:09 PM
Still waiting on certain family business LP forms before we can file. This is a battle every year.
Feb 16, 2013 8:09pm
S

sportchampps

Senior Member

7,361 posts
Feb 16, 2013 8:10 PM
Got mine done on the 2nd. I already got both refunds. Still waiting on the girl to do hers so we can pay for the honeymoon.
Feb 16, 2013 8:10pm
sleeper's avatar

sleeper

Legend

27,879 posts
Feb 16, 2013 8:19 PM
LJ;1390476 wrote:You get about $150 with an Ally account on $1900. Last I checked, that's >$0.


Also, 6 months in, your car breaks down, it's gonna cost $900 to fix.You claim 0 and you have to scrape by to eat, you claim that $1900 throughout the year, you pay to fix your car, still have money in your savings, don't have to worry about how you are going to eat.

Not to mention most people blow it on something stupid anyway. Like I said, its a savings account for people who can't handle their money.
What is Ally's interest rate? $150 on only $1,900?
Feb 16, 2013 8:19pm
Crimson and Gray Hair's avatar

Crimson and Gray Hair

Senior Member

384 posts
Feb 16, 2013 8:20 PM
LJ;1390476 wrote:You get about $150 with an Ally account on $1900. Last I checked, that's >$0.


Also, 6 months in, your car breaks down, it's gonna cost $900 to fix.You claim 0 and you have to scrape by to eat, you claim that $1900 throughout the year, you pay to fix your car, still have money in your savings, don't have to worry about how you are going to eat.

Not to mention most people blow it on something stupid anyway. Like I said, its a savings account for people who can't handle their money.
Sorry...you are absolutely right. Your logic is infallible! I just have no concept of matters relating to money management.
Thank you for the clarification.
Feb 16, 2013 8:20pm
LJ's avatar

LJ

Senior Member

16,351 posts
Feb 16, 2013 8:21 PM
sleeper;1390515 wrote:What is Ally's interest rate? $150 on only $1,900?
carried the 1 wrong, it was $30
Feb 16, 2013 8:21pm
LJ's avatar

LJ

Senior Member

16,351 posts
Feb 16, 2013 8:22 PM
Crimson and Gray Hair;1390517 wrote:Sorry...you are absolutely right. Your logic is infallible! I just have no concept of matters relating to money management.
Thank you for the clarification.
So you, as a business person, regularly give 0% interest loans?
Feb 16, 2013 8:22pm
sleeper's avatar

sleeper

Legend

27,879 posts
Feb 16, 2013 8:22 PM
LJ;1390519 wrote:carried the 1 wrong, it was $30
Try like $17. It's .9%. :laugh:

Still > $0
Feb 16, 2013 8:22pm
LJ's avatar

LJ

Senior Member

16,351 posts
Feb 16, 2013 8:22 PM
sleeper;1390521 wrote:Try like $17. It's .9%. :laugh:

Still > $0
They compound daily
Feb 16, 2013 8:22pm
sleeper's avatar

sleeper

Legend

27,879 posts
Feb 16, 2013 8:23 PM
LJ;1390522 wrote:They compound daily
Oh my bad, $17.34 :rolleyes:
Feb 16, 2013 8:23pm
Trueblue23's avatar

Trueblue23

BASEDgod

7,463 posts
Feb 16, 2013 8:26 PM
LJ;1390452 wrote:Or you could get a real savings account, earn interest, and have money available to you in case of emergencies.

Tax returns are savings accounts for people who can't handle their money.
Or you could blow me, how's that sound? I'll be sure to ask your permission before I do anything else finance related. I do in fact have a savings account, which does draw interest that I haven't touched since I opened the account 3 years ago. My modest tax return goes straight into my savings account, so your assumption that I'm some poor, tax check fiend is ignorant and assholish. Any other other financial suggestions there JP Morgan?
Feb 16, 2013 8:26pm
LJ's avatar

LJ

Senior Member

16,351 posts
Feb 16, 2013 8:27 PM
Trueblue23;1390524 wrote:Or you could blow me, how's that sound? I'll be sure to ask your permission before I do anything else finance related. I do in fact have a savings account, which does draw interest that I haven't touched since I opened the account 3 years ago. My modest tax return goes straight into my savings account, so your assumption that I'm some poor, tax check fiend is ignorant and assholish. Any other other financial suggestions there JP Morgan?
Yes, do you enjoy giving out 0% loans?
Feb 16, 2013 8:27pm