csun2004

Less then 48 hrs to fork out $$$ that we O

JediMindTricks

i have it set to pay tomorrow....

Pure Adrenaline

iTrader: (2)

I was being cheap and did the AL state tax on my own. To my horror, the calculations yielded a payment owed to the state for $296. I took out my checkbook with disgust, when I realized that I can run the calculations using TurboTax Online before paying to file it. I had already done my federal tax using their services at no charge and it was easy to do.

Turns out, I was actually owed 39 bucks. I paid $35 for their state tax services, but it really saved me from wasting $300. Woot!

Bottom line, I was pretty much even on state tax, and got back just under 2 grand from Uncle Sam. Now I'm just waiting for the $600 rebate check.

gr8ness97

iTrader: (5)

I get back 97 from the Feds, 120 from State and the 300 stimulus

Never Summer

I paid $15 in taxes to the state and feds combined for 2007, needless to say I didn't file taxes...

Will Y.

Got the final #s; sent checks for $3650 and 700 yesterday...

taz98spin

Ouch....

subinf

A shit ton, at least 7k

stogie1020

For those if you getting money back, what are your plans for it?


I am boring, dumped it all (minus a small bit) into brokerage account....

soopa

i think i'm going to puke.

GIBSON6594

Yea, left a check with the accountant this morning, bye bye money

iTimmy

you too, eh? I've tried not to think about it because it just upsets me, but now I have no choice but to face the music. The single largest check I've ever written is being written to the IRS today normally I would take a picture to remember it, but this is one of those things I don't want to remember

synth19

Well, just did my personal taxes yesterday. Luckily, I'm getting back 5k combined from federal/state. But by the time I get it back in May, I'll have to pay my first installment of property tax (about $4500).

pinky_ttc

I think I'm going to cry (and puke).....

Between state and fed together - we owe $100

2006 came back to haunt us and we may possibly owe $12,000+.

tiguy99

Almost done with my TT. I should get back about 2K from uncle Sam and maybe 200ish state....we'll see after the final "deductions"

jlukja

Just sent the checks this morning.

TS_eXpeed

I thought I was going to get a return

...yet I owe $39*.** dollars.

korrupted

cry me a river, i paid an additional $4600 to the gov't last week.

mrsteve

iTrader: (1)

Settle down. He's 17 and probably makes $8 an hour.

godfather2

man, looks like i've lucked out compared to many of you. received $1130 a month ago in returns and am set to get the $600 stimulus

iTimmy

I just got back from the dreadful trip to the post office, $83,xxx federal and $45,xxx state, gone and no stimulus package, fuck my life

paz840

iTrader: (2)

+1

GIBSON6594

dude, blow me

We should all be so "lucky"

GIBSON6594

not necessarily

JediMindTricks

dude, aren't you like a millionaire?


yea, life sucks.

BubbaMarkTL

what does a 26 year old do for a living to get into that sort of tax burden?? conservatively, to owe that much on your income, you must be making around 500,000 dollars a year?

iTimmy

I sold my business earlier this year, I'm thankful the bulk of what I had to pay was capital gains on unearned income and is taxed at a much lower rate then earned income. We(my accountant, business planner and financial planner) made an estimation around when I sold the business and paid a lot then, I paid just under $200k in combined income tax this year, it's upsetting to know that others have it much worse and for some reason the Government can't seem to make ends meet.

Fortunately/unfortunately what I've invested in is flourishing and I have one prime commercial lot left to sell so 2008 may be even worse.

synth19

don't get depressed iTimmy, you'll get $600 back and life will be golden.

mrsteve

iTrader: (1)

He's WAY over the $75k cut off for the $600 rebate.

iTimmy

No rebate for this jew

TS_eXpeed

I've heard of 30K range and a little higher....but 130K!?!

SupaRookie

I got back $90 from federal, but I'm paying $20 for state. LOL...

EmuMessenger

I am sorta getting screwed all around. While I am getting a near $25k refund, after big losses last year, my adjusted gross became $77k and change, screwing me out of the full stimulus check!

iTimmy

^^^ You should still be eligible for a partial stimulus package, phase out begins at $75k, if you're single and have no kids you will get $500 if you have an AGI of $77k. The formula uses is: the credit is reduced by multiplying the amount of AGI over $75,000 by 5%

JediMindTricks

i'll trade you my $600 for your refund.

EmuMessenger

haha. I hear ya. Last year was an up and down year for sure. Had to sell the S2k and the M35x.

I hope to rebound this year! Still have the 2004 Aviator and my a/c seats!

youngTL

I don't know how all you guys have to pay.

I made 26k last year, getting back $3700 because I still had tuition credit carryover from 2 years ago, lol. This year I'll be making 52k because I started the year with a real job (only worked August - Dec last year with this job).

I even get money back for employment insurance overpayments based on my income. My work just takes off a slight bit more than they should for taxes, so everyone who works here seems to always get a slight rebate unless they have super huge investment/capital gains or something.

GIBSON6594

Because some of us are in higher tax brackets and don't pay as much up front.

youngTL

Why don't you pay as much up front? It doesn't make sense to me why someone would take home their entire gross paycheque or more than they should, and then have to pay at the end of the year. Wouldn't it save you the emotional distress just to pay more every month and not have to owe?

tiguy99

0
got 2567 Fed
401 State

Home business 1099 income + full time W2 income FTW