$4500 Tax Return!
#8
Tour de Franzia
iTrader: (6)
Join Date: Jun 2006
Location: Republic of Dallas
Posts: 29,085
Total Cats: 375
I forgot about returns...If my return is fat enough, I might have to just buy the begi kit. I can stomach dumping off that much ching-dow if its in the form of a tax return, not if its from paychecks.
I know I should put that on student loans...but I need some fun in my life...right?
I know I should put that on student loans...but I need some fun in my life...right?
#9
I forgot about returns...If my return is fat enough, I might have to just buy the begi kit. I can stomach dumping off that much ching-dow if its in the form of a tax return, not if its from paychecks.
I know I should put that on student loans...but I need some fun in my life...right?
I know I should put that on student loans...but I need some fun in my life...right?
#14
Supporting Vendor
iTrader: (33)
Join Date: Jul 2006
Location: atlanta-ish
Posts: 12,659
Total Cats: 134
Big tax return means you paid too much throughout the year.
There were several years I didn't pay a dime in Federal or State income tax throughout the year, and paid them in lump sum in April. I had my accounting software automatically deposit a percentage of my income into a savings account. I would then put this money in safe short term investments (short term cds & money market savings). The benefit is I get to keep the interest made from saving my tax money myself.
It's all pretty complicated. Certain taxes can be paid yearly, but other taxes have to be paid quarterly. I found it to be too much of a pain in the *** to continue doing it.
My 06 taxes will be tolerable, between being unable to work for 8 months, HUGE medical bills, and $6k in closing costs for my new house, I'm not expecting to have to pay much, if anything.
There were several years I didn't pay a dime in Federal or State income tax throughout the year, and paid them in lump sum in April. I had my accounting software automatically deposit a percentage of my income into a savings account. I would then put this money in safe short term investments (short term cds & money market savings). The benefit is I get to keep the interest made from saving my tax money myself.
It's all pretty complicated. Certain taxes can be paid yearly, but other taxes have to be paid quarterly. I found it to be too much of a pain in the *** to continue doing it.
My 06 taxes will be tolerable, between being unable to work for 8 months, HUGE medical bills, and $6k in closing costs for my new house, I'm not expecting to have to pay much, if anything.
#20
Tour de Franzia
iTrader: (6)
Join Date: Jun 2006
Location: Republic of Dallas
Posts: 29,085
Total Cats: 375
It sucks to live with student loan debt, and want a fast car.