What are you doing with your "tax return" this year?

[PikachuWarrior]

So far, I'm paying down my CC debt to get those out of the way. What about you all?

[hoobs88]

I am going to purchase some gear for my guitar...

Zoom R8 Digital 8 Track Recorder

Boss eBand JS-10 amp

[majors]

I payed lasts months rent (and the rest of Decembers rent)! First of the year is crap for me and money due to the fact my contract is for 11 months and I have a forced 30 day "cool down" period. But I did get my refund from the fed in only 8 days!

[Bernie]

Buy some hookers and drugs!

[Nando]

Buy some hookers and drugs!

Hookers with drugs!

[Nazi NecroPhile]

I'll put it in the bank with my other money.  Fun, eh?

[jeffhlewis]

What refund? Doing freelance work always results in me owing Uncle Sam every year. Last year was especially painful; hoping I can come close to breaking even this year.

[roflmao]

What refund? Doing freelance work always results in me owing Uncle Sam every year. Last year was especially painful; hoping I can come close to breaking even this year.

I'm in the same boat. :/

[Nando]

What refund? Doing freelance work always results in me owing Uncle Sam every year. Last year was especially painful; hoping I can come close to breaking even this year.

I'm in the same boat. :/

are you guys donating and maximizing your deductions through out the year? That's about the only thing left for most people to do. Corporations have it nice with all their deductions and what not.

[JoshTurboTrollX]

Most to the bank.  But some will be used for downpayment and maybe a bit towards a new washer & dryer.


Wooo!!  No new games for me however...... (That's what MGC is for!)

[bob]

probably paying my tax guy to organize my mess and file.
doubt any new games will come of it.

[psychobear]

Give it to the baby's mom for a new car.. Tired of being her personal driver.

[jeffhlewis]

are you guys donating and maximizing your deductions through out the year? That's about the only thing left for most people to do. Corporations have it nice with all their deductions and what not.

Let's just put it this way - my tax lady earns her paycheck, haha. Asset depreciation and real estate capital expenditures are your best friend at tax time.

[ElSeven]

i'm going to Coachella with mine, can't wait! 

[420GOAT]

buying vw busses to sell and profit, then repeat, and send my TE to thesteve.

[VenomMacbeth]

I may finally break down & get a Turbo Express...

[RoyVegas]

buying vw busses to sell and profit, then repeat, and send my TE to thesteve.

Only split windows I hope.

[bartre]

putting 2/3 of it towards my car, saving the rest, maybe buy myself 1 game, just because i did it so early.

[CGQuarterly]

Well, apparently the fact that I have zero deductions on my W4 (meaning that they take the maximum amount out of my paycheck), combined with the fact that a large portion of my income comes from performance bonuses and overtime pay, both of which are taxed at a much higher rate (damn near 50% - I had $650 in overtime pay in my last paycheck.  About $375 ended up in my pocket), AND the fact that I bought a house last year and therefore have mortgage interest to write off, STILL wasn't enough to ensure that I wouldn't owe even more money at the end of the year. 

This is what happens when you have two incomes and no kids, and are up in a higher tax bracket. 

So the real question is, what will the federal government do with their tax bonus from me?

Chris

[BlueBMW]

I plan to pay off a CC and pay for a mortgage refinance.  Yay...

[Bernie]

Well, gonna get a couple hundred from Jimilee, and she is doing whatever with the rest.  I may picks up some PCE goodness with the money....no, correction..  I will pick up some PCE goodness. 

[BigusSchmuck]

Pay for my wife's father's funeral. Assuming of course, I even get a tax return this year.

[tggodfrey]

Use mine to may my mortgage down.  Hoping to pay off house in less than 2 years.

[TheClash603]

I thought tax rates were going up and we wouldn't get much back anymore?  Or is that next year?

Gotta do mine still, guess I will find out.

[Nazi NecroPhile]

I thought tax rates were going up and we wouldn't get much back anymore?  Or is that next year?

The tax rate change started at the first of this year.

[hoobs88]

I thought tax rates were going up and we wouldn't get much back anymore?  Or is that next year?

The tax rate change started at the first of this year.

You should have noticed your paycheck being $15-20 less each week since the beginning of the year.

[WingZeroKai]

Getting a new car...stupid real life ruining my gaming goodness.

[shabba]

Let's see...

Take the family out for a nice, big meal at some overpriced place, give the kids a small amount so they can squander it on soft drinks and bubble gum, buy several articles of furniture that are unneeded but necessary for my penis to ever see my wife's vagina again, pay down my credit cards, pay off some medical bills that have prevented me from getting a home (yes, they screwed us enough to be denied a mortgage) and, maybe, just maybe, buy myself a nice Duo-R or RX. But that last part is fantasy. I work hard so my wife can buy furniture and the kids can get sugar buzzed.

[420GOAT]

buying vw busses to sell and profit, then repeat, and send my TE to thesteve.

Only split windows I hope.

Hell no! those are waaayy overpriced.

[PunkCryborg]

put it in the bank and pay stuff of. hopefully I can get my debt down to just a mortgage then start the game scoops again

[tggodfrey]

I thought tax rates were going up and we wouldn't get much back anymore?  Or is that next year?

The tax rate change started at the first of this year.

You should have noticed your paycheck being $15-20 less each week since the beginning of the year.

Depends how much you make.  Mine is about 75.00 less per week (paid Biweekly).

[Nazi NecroPhile]

Depends how much you make.  Mine is about 75.00 less per week (paid Biweekly).

That works out to nearly $200k a year.  Nice!

[MotherGunner]

I'm buying a house, so I will need all the liquid assets I can get a hold of!

[tggodfrey]

Depends how much you make.  Mine is about 75.00 less per week (paid Biweekly).

That works out to nearly $200k a year.  Nice!

your math is a little off....not quite that high.

[Nazi NecroPhile]

your math is a little off....not quite that high.

The only payroll tax change was S.S. reverting to 6.2% from 4.2%, so the only difference in your paycheck should be the additional 2% being taken out.  $75 / 2% x 52 = $195,000.  

[tggodfrey]

Edit:  my ideas were all jumbled up so i cleaned this up.

Necro your not considering the SS ceiling being raised as well.  Depending on what one makes that can be a huge factor.  SS ceiling went from 106k to 110k.  Thats 4000.00 (accountable) I will be paying into SS.

Based on the 6.2/4.2 figures no considing the ceiling being raised I will be paying 58.00 into SS a week.  now factor the additional figure I will have to pay for raising the ceiling thats well over 75.00 a week average.

Now lets look at the Obama care so many people voted for.  Sounded good on paper right?

Heath care taxes went up due to the 1 million dollar tax to the health care companies the manufacture things like wheel chairs ect. (i forget the proper term).  Thats part of the trick down theory that Obama swears isnt happening.  There was also a Tax imposed on Pharmecuticals but I dont remember the details on it.  Who do you think will pay that tax?  thats is hitting our healthcare too, if yours isnt them maybe your lucky and your company absorbed it.  With as much as I get for healthcare, my company wont and i cant blame them.  May Lasik coverage alone makes it worth it so i shouldnt bitch.

Last year I paid over 30k in taxes......you can say i am highly against raising taxes and paying for someone elses healthcare.

Notice how he didnt raise the 17k figure you can put into your 401K pretax......

I am running out of ways to hide income.  Last year I created an S-Corp for I can claim 10-15k in losses for the first 3 years.  Eventually I am going to have to show profit and take it in the pooper.





Edit again:  I just did a realistic calc based on how many paychecks it takes to max out the SS ceiling and i am paying over 160.00 on average until I max out the ss withholdings.  This sucks even more.

[TheClash603]

Redistribution of wealth = society's gain!

Just check my payroll taxes and they went up as well, so now I feel as though I am accomplishing my civic duty.

[tggodfrey]

I cant wait to retire and become a burden on society.  With my luck we will adopt the Chineese method of dealign old people and i will be put on some moutain to die.