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Old 03-02-2005, 01:48 AM   #1
teiva-boy
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Default Taxes suck

I have had a tough year working on paying off all my debt. Most of this is from moving from Hawaii to Seattle, then back to Hawaii, and now to San Diego. So for this past year, I decided to not contribute to any retirement plans, and concentrate on my debt which BTW is under $1200 at this point. Only another couple months to go

But in doing my taxes, I paid Uncle Sam over $10k, and also paid California over $3k this past year.

What do I get? About $400 or so back from the Fed's and I owe $13 to CA.

I just don't get it sometimes..

Oh well, at least I'm not in the hole, and am coming up ahead

Next year will be better. If I just had contributed about $3k in an IRA/ROTH I could have been getting back about $1200 in Federal money. Unfortunately, I can't come up with that kind of cash so quickly before April 15th.
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Old 03-02-2005, 02:01 AM   #2
wolf8314
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I think youre looking at tax returns the wrong way. If you think about it, it really is better to owe than it is to pay. When you get a refund really all that means is that the government has kepted your money all year interest free, whereas if you owe, you have basically rcvd a loan from the government interest free.

If you want to lower your taxes, move out of The Republic of California
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Old 03-02-2005, 02:03 AM   #3
wyn525i
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At first, I thought the title was Texas Sucks
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Old 03-02-2005, 02:06 AM   #4
scaryfastskier
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yea dude, **** texas! oh.... uhm... **** taxes too! especially taxes in texas! bitches!

grant - agrees its best to owe a very small amount
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Old 03-02-2005, 02:15 AM   #5
wolf8314
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You know what they say about texas.........steers and queers.

Hahaha great movie
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Old 03-02-2005, 02:54 AM   #6
ErikAnderson
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i dont know about Texas, but Taxes rock! i got 1001 back in taxes this year.
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Old 03-02-2005, 03:23 AM   #7
fuzzycuffs
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Never count on a return. If you get one, consider yourself lucky.

I might send this to PP when I say the reason why you get taxed so much federally is because the current government is not at all fiscally conservative, and it takes a lot to fund a war... even if the funding doesn't go to armor on humvees or anything.

/flamesuit on
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Old 03-02-2005, 04:36 AM   #8
wolf8314
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IBBushsucksandNeoconzwilldestroytheworld
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Old 03-02-2005, 10:06 AM   #9
teiva-boy
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Quote:
Originally Posted by wolf8314
I think youre looking at tax returns the wrong way. If you think about it, it really is better to owe than it is to pay. When you get a refund really all that means is that the government has kepted your money all year interest free, whereas if you owe, you have basically rcvd a loan from the government interest free.
I've never really looked at it that way... What would you suggest to accomplish this, with paying as little as possible at the end of the year (possibly balancing out?) Single Male, no deductions currently, not a home owner.


Quote:
If you want to lower your taxes, move out of The Republic of California
Believe me CA was not my first choice in moving to. But I'm happy with my life here and make a good living (minus taxes of course )
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Old 03-02-2005, 11:46 PM   #10
wolf8314
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Quote:
Originally Posted by teiva-boy
I've never really looked at it that way... What would you suggest to accomplish this, with paying as little as possible at the end of the year (possibly balancing out?) Single Male, no deductions currently, not a home owner.



Believe me CA was not my first choice in moving to. But I'm happy with my life here and make a good living (minus taxes of course )
Im same as you, but have 1 deduction. I still get a refund, but it isnt as much as it was when I claimed 0. We also may be in different tax brackets.

Most people dont look at tax returns the way I stated, they think of it as free money, and thats simply not the case. Its actually your own money that you shouldve rcvd throughout the year, but the government has kepted it interest free. Kinda pisses you off when you think about it.
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