Page 2 of 2 FirstFirst 12
Results 11 to 19 of 19
  1. #11  
    Ancient Fire Breather Retread's Avatar
    Join Date
    Dec 2011
    Location
    I came to Texas as soon as I could
    Posts
    16,599
    Quote Originally Posted by ralph wiggum View Post
    You have no idea how difficult this concept is hard to explain. Even to smart people. The former Mrs. Wiggum eventually figured it out.
    My wife is still that way. We paid $51 last year and I was tickled pink. I left all my tax percentages in place for this year just in case it didn’t work the way I believed it would and now we’re getting a $1600 plus refund. She’s tickled pink.
    Since I won’t pull my single shot RMDs until the fourth quarter I can adjust then to make 2019 come out damn near even.

    Of course the other bottom line is I need a “new money” bundle to get a 2.5% savings account and the $1600 is going to be seed money.
    It's not how old you are, it's how you got here.
    It's been a long road and not all of it was paved.
    . If you ain't havin' fun, it's your own damn fault
    Reply With Quote  
     

  2. #12  
    Festivus Moderator ralph wiggum's Avatar
    Join Date
    Apr 2004
    Location
    Springfield, USA
    Posts
    20,999
    Quote Originally Posted by Retread View Post
    My wife is still that way. We paid $51 last year and I was tickled pink. I left all my tax percentages in place for this year just in case it didn’t work the way I believed it would and now we’re getting a $1600 plus refund. She’s tickled pink.
    Since I won’t pull my single shot RMDs until the fourth quarter I can adjust then to make 2019 come out damn near even.

    Of course the other bottom line is I need a “new money” bundle to get a 2.5% savings account and the $1600 is going to be seed money.
    I guess the easiest way is to use this as an example. Would you rather have an extra $200 a month for January thru December, or get $2000 the following April? The extra $200/month makes far more sense.

    Still, some people don't get it.
    Voted hottest "chick" at CU - My hotness transcends gender
    Reply With Quote  
     

  3. #13  
    Ancient Fire Breather Retread's Avatar
    Join Date
    Dec 2011
    Location
    I came to Texas as soon as I could
    Posts
    16,599
    Quote Originally Posted by ralph wiggum View Post
    I guess the easiest way is to use this as an example. Would you rather have an extra $200 a month for January thru December, or get $2000 the following April? The extra $200/month makes far more sense.

    Still, some people don't get it.
    My wife is one of those who see a refund as something to be directed somewhere and a check to the infernal revinuers as excess tax. In 55 years I haven’t changed her mind.
    It's not how old you are, it's how you got here.
    It's been a long road and not all of it was paved.
    . If you ain't havin' fun, it's your own damn fault
    Reply With Quote  
     

  4. #14  
    Senior Member enslaved1's Avatar
    Join Date
    May 2008
    Location
    Dallas TX
    Posts
    1,766
    After finally reading Neal Boortz's book on it, I think the Fair Tax would be a great way to eliminate the whole debate, as long as We The People stay on the politicians (like we need to be anyway). It pulls too much power away from the feds, so I don't see it getting enacted, but maybe if enough people got behind it...

    https://fairtax.org/


    Quote Originally Posted by FlaGator View Post
    DUpipo, when you receive a refund it means you were overtaxed. When you owe it means you were undertaxed. Receiving a refund indicates that you allowed the government to use that much of your money interest-free. Expecting a refund is basically making a bad investment.

    In a perfect world, you wouldn't receive a refund.
    Yup, it's a difficult concept for way too many people, but tax refunds keep many people placated.
    Romans 6:18 You have been set free from sin and have become slaves to righteousness.

    Differences between Obama and God: God's plan to save us is actually written down for people to read. Rush Limbaugh.

    My blog: How Things Look From Here Politics, religion, random stuff, now on Wednesdays!
    Reply With Quote  
     

  5. #15  
    Senior Member
    Join Date
    Nov 2016
    Posts
    162
    Just think of the brouhaha that would follow IF tax were personally paid by each individual from each paycheck, rather than deducted so he never sees it!👹👎
    Reply With Quote  
     

  6. #16  
    Senior Member DumbAss Tanker's Avatar
    Join Date
    Jun 2002
    Location
    Missouri
    Posts
    5,317
    Well, I stopped itemizing a few years ago. It's a low-tax state here, and I'd paid my home down to well below the threshold where it would do it by itself, so I paid off everything at that point since there was no plus to paying any more interest. Past couple of years I worked part time for some nice cha-ching, one quarter in 2017 and two quarters into 2018, so I just had my retirement stuff heavily up their 'Optional withholding' amounts, which didn't fluctuate with the new guidelines, so I anticipate everything being nicely covered.

    I learned the hard way some 25+ years ago that taking up a new or additional job during the year means the new job treats you like that was your only job all year, and so taking the standard withholding amount will leave you thousands short at the end of the year, and so I've always had plenty of extra withheld to cover incidental income, random profitable dealios, or short-term gigs.
    Reply With Quote  
     

  7. #17  
    Power CUer FlaGator's Avatar
    Join Date
    Apr 2004
    Location
    The Swamps of N. Florida
    Posts
    26,732
    Quote Originally Posted by Freedomnut View Post
    Just think of the brouhaha that would follow IF tax were personally paid by each individual from each paycheck, rather than deducted so he never sees it!👹👎
    Chris Rock rightly points out, you don't pay taxes, they take taxes. It's a federal jack.
    Liberals! The real fascists.
    Reply With Quote  
     

  8. #18  
    Power CUer noonwitch's Avatar
    Join Date
    Oct 2008
    Location
    Warren, MI
    Posts
    19,625
    Quote Originally Posted by NJCardFan View Post
    I'm getting $9K back from the feds so I'm happy thanks to the $24K married standard deduction.
    I haven't filed yet, but I generally use the standard deduction because even before the current plan, it was more than my mortgage interest and other deductible expenses. This year the individual deduction is larger, so I am anticipating a larger refund than usual. I don't know how the state tax thing will figure in, though. MI is certainly not the highest in state income taxes, but we're not 0 like Florida.

    I always file om President's Day with HR Block. I always know I'll have the day off.
    Reply With Quote  
     

  9. #19  
    Ancient Fire Breather Retread's Avatar
    Join Date
    Dec 2011
    Location
    I came to Texas as soon as I could
    Posts
    16,599
    Quote Originally Posted by FlaGator View Post
    Chris Rock rightly points out, you don't pay taxes, they take taxes. It's a federal jack.
    There’s another hard fact in that as well. No company, business or store pays taxes. It’s just an item on their balance sheet in the expense column that is charged to customers.
    It's not how old you are, it's how you got here.
    It's been a long road and not all of it was paved.
    . If you ain't havin' fun, it's your own damn fault
    Reply With Quote  
     

Bookmarks
Bookmarks
Posting Permissions
  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •