What are you going to do with your tax return money?

cental34 said:
Why is it that you pay more taxes?
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We don't have enough taxes withheld each year. I have the max withheld from my terp job, and Hubby has the max withheld from his military retirement, but he doesn't have anything withheld from his job because he is self-employed. He makes minimum estimated payments. But the total of all those does not equal what we actually owe each year. So we have to make additional payments each month. We have been doing that for about 12 years.

We could pay more taxes in advance but why should we? We don't pay them until they are due.

Many people do not realize that their "refund" is actually their money that they give the IRS as an interest free loan thru withholding. They could have kept that money in the bank instead and gained interest on it. Then they would have the "refund" money PLUS interest.

The whole IRS system is a rip-off.
 
Sabrina said:
He is very thrilled to hear this. He is waiting for you.

buffys1_shot5l.jpg
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Woo.. I dig him
 
Plenty wait til April month... Income Tax...
Our goal... when receives income tax goes toward to 1 debt *fly away* pay off..
 
If IRS didn't withhold too much money from your pay every month, you could have paid off your debt during the year. That way, you could have saved on the interest. See, the so-called "refund" system is a rip-off. You actually lose money that way.
 
Reba,

Remmy I'm from Canada.. ain't same USA system..

Every year April Income tax.. no change.

Your pay chq already automatic took your money (Fed tax, EI, C.P.P.) worry-free.. ain't same USA' system.. your own responible pay.. Canada don't.. *luckily* :D

Employer will receive T-4 from work.. and gathering RRSP/DPSP/GRRSP and much more) depends your investment.. and fill out the income tax... what you'll get refund back or pay tax. That is it..

O'le pure plain simple! :D
 
Reba said:
We don't have enough taxes withheld each year. I have the max withheld from my terp job, and Hubby has the max withheld from his military retirement, but he doesn't have anything withheld from his job because he is self-employed. He makes minimum estimated payments. But the total of all those does not equal what we actually owe each year. So we have to make additional payments each month. We have been doing that for about 12 years.

We could pay more taxes in advance but why should we? We don't pay them until they are due.

Many people do not realize that their "refund" is actually their money that they give the IRS as an interest free loan thru withholding. They could have kept that money in the bank instead and gained interest on it. Then they would have the "refund" money PLUS interest.



The whole IRS system is a rip-off.
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Well, as Benjamin Franklin was once quoted, "but in this world nothing can be said to be certain, except death and taxes."
 
GalaxyAngel said:
Reba,

Remmy I'm from Canada.. ain't same USA system..

Every year April Income tax.. no change.

Your pay chq already automatic took your money (Fed tax, EI, C.P.P.) worry-free.. ain't same USA' system.. your own responible pay.. Canada don't.. *luckily* :D

Employer will receive T-4 from work.. and gathering RRSP/DPSP/GRRSP and much more) depends your investment.. and fill out the income tax... what you'll get refund back or pay tax. That is it..

O'le pure plain simple! :D
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You are misunderstanding the situtation. Reba is self-employed, so she is responsible for paying her own taxes. A majority of us have taxes already taken out of our cheques every two weeks, and then we get W-4 forms in January. We file for our tax refunds in January to April. It's simple for us too.
 
kuifje75 said:
You are misunderstanding the situtation. Reba is self-employed, so she is responsible for paying her own taxes. A majority of us have taxes already taken out of our cheques every two weeks, and then we get W-4 forms in January. We file for our tax refunds in January to April. It's simple for us too.
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And after April :)
 
kuifje75 said:
Heh heh, April 15th is usual deadline for people to file for taxes, unless they request a time extension.
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Few years ago, they mailed it back to me. Something I forgot so I mailed it back in July.
 
kuifje75 said:
You are misunderstanding the situtation. Reba is self-employed, so she is responsible for paying her own taxes. A majority of us have taxes already taken out of our cheques every two weeks, and then we get W-4 forms in January. We file for our tax refunds in January to April. It's simple for us too.
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Ah... okay,
Even She didn't mentioned "self-employed" first place... ?
 
Reba said:
If IRS didn't withhold too much money from your pay every month, you could have paid off your debt during the year. That way, you could have saved on the interest. See, the so-called "refund" system is a rip-off. You actually lose money that way.
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how i do that? they always witheld too much of my taxes.
 
i will get income tax under from stepfather so i can save money for trip and pay some bills off
 
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