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Old 02-22-2008, 03:39 PM   #1
anderj
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Default homebrew and tax RETURNS

for those of us who are lucky enough to get them, anybody blowing a stupid amount of money on some cool new gear?

Myself, I just ordered a barley crusher and weldless sightglass fittings for the HLT
total damage around 150, not so bad

-ander

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Old 02-22-2008, 03:40 PM   #2
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I need to get my drip tray and forward sealing faucets. Maybe another Better bottle as well...

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Old 02-22-2008, 03:52 PM   #3
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When my check comes, I'm going to deposit it into my high yield money market account at Resourcebankonline.com and then continue spending all kinds of obscene money building my single tier brewstand. I hope everyone owns Lowes and HD stock because I'm about to single handedly make it blow up.

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Old 02-22-2008, 04:15 PM   #4
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Quote:
Originally Posted by anderj
for those of us who are lucky enough to get them...
What do you mean by "lucky"????

Did you know the Govt's just giving you back your own money???

And you were such a nice citizen for not charging them interest...

The trick is to make that number as small as possible, getting back and/or paying in. Any overpayments could be put into an interest bearing account and you'd be better off.
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Old 02-22-2008, 04:19 PM   #5
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Ditto Bobby! I usually end up having to send in a couple small checks to state and Feds.

That said, I've been setting aside a few bucks. I'm thinking a pump and a mill.

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Old 02-22-2008, 04:25 PM   #6
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wow, that was a pretty brutal attack for getting a refund check. And I even claimed "0" for the last six or so paychecks in 2007 so I wouldn't be putting more money into my overpayment.

whatever, now I will have control over my crush and be able to easily see how much sparge water I have left and what temp it is

I have no kids, no wife, a pretty standard job until I am done cowering in the post-grad school rest, they take money out of my check and give it back later. Of course I see the benefit of taking that same amount and putting it in another account and I may do that in the future but this seems to work well for now.
Right now I live check to check and I could see myself raiding that cache when I get a little low on the funds.
-ander

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Old 02-22-2008, 04:38 PM   #7
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I like to think up creative ways to increase my tax return over what it would normally be. Lol... if I get one parking ticket in NYC thats $120 bucks, so this time of year i come up with a way to get back $120 in deductions

It involves a personal business and a well thought out schedule c.

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Old 02-22-2008, 04:40 PM   #8
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Up until I retired, I consistently got large refunds. I was doing max on the IRA, max on exemptions and max. on everything else that was recommended by a very good tax CPA. The structure of the tax law made it impossible to keep the withholding down to my "real" rate.

But, no refund for me this year. No wages either. There's some back-averaging in my future.

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Old 02-22-2008, 04:40 PM   #9
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Quote:
Originally Posted by Bobby_M
Sorry for the rant, I really do want to help people who don't realized the error in big refunds.
Just imagine the impact on the government and their related cost of funds if the majority of tax payers realized this and were capable of tax planning/adjusting their withholding & quarterly payments accordingly....There is an argument that burden, to some degree, would then shift to those of us who do.

Anywho...if you're getting a refund, enjoy!
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Old 02-22-2008, 04:54 PM   #10
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Quote:
Originally Posted by Bobby_M
Except my rant is limited to my pals here on HBT. I doubt it will become a widespread thing. Ander, I'm not attacking you man. I'm trying to show you the light.
I hear ya...it's a tough message to drive home with folks. Then again, there is a reason why club/vacation accounts exist at banks.
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