Tax Man gets stiffed!!!

[Ivan Lendl]

Haha i just did my taxes, and at first i did the EZ form being im a low life student, and i ended up owing 800 bucks. So i re did them using the regular PITA 1040, and now those bastards owe me 320 bucks!!!

 

[chillHayze]

The lazy bastards get taxed more. lol

That is quite a difference - Well done!

 

[El Pistolero]

Haha i just did my taxes, and at first i did the EZ form being im a low life student, and i ended up owing 800 bucks. So i re did them using the regular PITA 1040, and now those bastards owe me 320 bucks!!!

I guess you didn't read the fine print about the new alternative minimum tax. If I read it correctly you're supposed to add the two numbers together, so just write uncle sam a check for $1120...in fact he'd really appreciate it if you'd just round up to $1500.

 

[Baron von BeeGee]

I did mine last night and I owe the feds ~$1100, but the state owes me ~$500. Sweet. Still have to calculate my W-4's for this year, though

 

[Ivan Lendl]

I did mine last night and I owe the feds ~$1100, but the state owes me ~$500. Sweet. Still have to calculate my W-4's for this year, though

lol...the state owes me 2 dollars...i want my 2 dollars! (better off dead anyone?)

 

[BlightyBrewer]

Man, I feel sorry for all you in the US! It would tweak my swede if I had to do all that form-filling every year. Thank the Houses of Parliament for Pay As You Earn...did I really say that!!

 

[El Pistolero]

Thank the Houses of Parliament for Pay As You Earn...did I really say that!!

Oh, we have to pay as we earn (most of us anyway)...then we have to fill out tons of paperwork to prove that we paid enough! Kind of the worst of both worlds.

 

[Glibbidy]

I got to stiff the man as well. I tell ya having two kids, and a stay at home mom certainly reduces the tax burden.

Here's what I'm picking up with some of my tax refund!

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=4453387583

 

[RichBrewer]

I got to stiff the man as well. I tell ya having two kids, and a stay at home mom certainly reduces the tax burden.

Here's what I'm picking up with some of my tax refund!

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=4453387583

Man that's a heck of a deal!

 

[Dude]

Not that I enjoy giving the government a tax free loan every year (one of those battles with my wife I'd rather choose to ignore), but our refund did indeed pay for my Beer gun, and a pretty good chunk of my brew rig. :rockin:

 

[ian]

I got to stiff the man as well. I tell ya having two kids, and a stay at home mom certainly reduces the tax burden.

Here Here, Glib. Same sitch, turns out Uncle Sam has been earning a good bit of interest on my money by how much we're getting back!

 

[user 574]

Printing out my taxes as I type. Much like the Baron I owe the feds 1k more and get $400 from the state . In the end, it sucks though..

 

[Baron von BeeGee]

Printing out my taxes as I type. Much like the Baron I owe the feds 1k more and get $400 from the state . In the end, it sucks though..

My philosophy, along the lines that Dude was alluding to, is that I'd rather break exactly even (has that ever happened?), or owe a bit, preferably <$1k, which is where I'm sitting. Getting a ton back ain't good in my book, but I'm a compulsive investor of money I'm not using whereas many people would spend it.

Now last year I really screwed up (2004 taxes). I got married and let's just say that instead of stiffing the taxman, the taxman got a stiffy.

Edit...just checked my wedding band and I got married in 2002. In any case, I screwed up somewhere along the line.

 

[Chairman Cheyco]

I'm getting 4K back this year. I usually get good ones because I work overseas. Feels good to take from Uncle Milton (Candian equivalent of uncle Sam.)

 

[MrBulldogg]

I'm getting 4K back this year.

Beware of the goon squad, er, IRS audit team. My accountant sez to avoid breaking the 4K return mark on Fed tax since that apparently sets off a whole bunch of red flags and increase your risk of getting audited significantly.

 

[Baron von BeeGee]

Beware of the goon squad, er, IRS audit team. My accountant sez to avoid breaking the 4K return mark on Fed tax since that apparently sets off a whole bunch of red flags and increase your risk of getting audited significantly.

In the Chairman's case 4K is really about US$600, so he should be safe.

 

[user 574]

My philosophy, along the lines that Dude was alluding to, is that I'd rather break exactly even (has that ever happened?), or owe a bit, preferably <$1k, which is where I'm sitting. Getting a ton back ain't good in my book, but I'm a compulsive investor of money I'm not using whereas many people would spend it.

Agreed on trying to come out about even. I usually am pretty close but last year I received an inheritance that complicated things where I wasn't sure where the heck I stood. Made for fun taxes this year as well.

 

[Baron von BeeGee]

Agreed on trying to come out about even. I usually am pretty close but last year I received an inheritance that complicated things where I wasn't sure where the heck I stood. Made for fun taxes this year as well.

I had one of those screw me up for two years while the estate was executed. It ain't fun, especially when you're not on good terms with the executor.

 

[El Pistolero]

last year I received an inheritance that complicated things

My tax guy told me that an inheritance wasn't taxable as long as you didn't declare it.

 

[user 574]

My tax guy told me that an inheritance wasn't taxable as long as you didn't declare it.

As a whole is true that its not taxable up to some amount I believe (I didn't hit that amount). It was the 8-10 months of funds in probate where the estate was making $ that got taxed. Even though its not in your hands yet the interest/gains are someone's tax liability once that's all figured out. Bastards think of everything don't they!

 

[Baron von BeeGee]

BTW, if there are any stocks in that inheritance I recommend you create a spreadsheet or table with all the stocks and the average price the stock traded at on the day of death (not the day the executor hands them over to you). You'll need this to figure your basis later when you sell them.

 

[user 574]

Funny you say that on stocks. I was actually looking forward to that from my dad. He worked for Standard Oil -> Amoco and had a lot of stock that converted over to British Petroleum when they bought Amoco. Did very well however the executor sold it all . I'd have rather had that stock; maybe it was written that way; dunno. So, no stock issue to deal with.

 

[Baron von BeeGee]

I think it's pretty much up to the executor, unfortunately. There may not have been a good way to split it, or they may have needed some proceeds for expenses related to executing the estate. Bummer.

 

[homebrewer_99]

Did you ever notice when you read "The IRS" it actually says "THEIRS"?

 

[El Pistolero]

I think it's pretty much up to the executor, unfortunately. There may not have been a good way to split it, or they may have needed some proceeds for expenses related to executing the estate. Bummer.

Listen, you guys are just making it way to complicated. Nothing is taxable, as long as you don't declare it. It's that whole "Don't ask, don't tell" thing...it's like the 38th amendment or something.

 

[Baron von BeeGee]

Listen, you guys are just making it way to complicated. Nothing is taxable, as long as you don't declare it. It's that whole "Don't ask, don't tell" thing...it's like the 38th amendment or something.

Did you know they passed out concert tickets at work last year, and they showed up as taxable income??? Bastages.

 

[user 574]

Listen, you guys are just making it way to complicated. Nothing is taxable, as long as you don't declare it. It's that whole "Don't ask, don't tell" thing...it's like the 38th amendment or something.

I was 99% sure I caught your initial humor of "if you don't declare it". Your humor is clever Obe Wan; sometimes I just choose to ignore it .

 

[SwAMi75]

We adjusted our W4's last year to free up more money for IRA's, but we still got a lot back this year. Kinda makes me nervous, becuase all that money's already in the house!

 

[Chairman Cheyco]

Did you know they passed out concert tickets at work last year, and they showed up as taxable income??? Bastages.

That sucks, my frequent-flyer miles are all a taxable benefit too...

 

[Walker]

I think I might have the record for Money Owed.

I owe the feds about $2300.
I owe the state of NC about $3200.
I get a whopping $300 refunded from the state of CA.

I hope to win all of this back in Vegas this weekend.