TAX Money - SuperiorMuscle.com

WonderWoman · #1 01-10-08, 08:16 AM

what are you guys doing with your tax return cash?

1. getting a laptop
2. booking my trip to the ARNOLD classic, if we can get it together, my friends that is
3. booking my trip to florida in March to go see my mom
4. buying a new camera and hopefully a flat screen

thats all for now, lol.

My bonus comes in March, so that will go into my daughter's bank account.

redback · #2 01-10-08, 08:20 AM

im buying a new rover

WonderWoman · #3 01-10-08, 08:21 AM

Quote:

Originally Posted by redback

im buying a new rover

sweet... as in car, right, lol. I got myself a new car for xmas.. it still has that new car scent mixed in with some tide that spilled in the back. grrrrrrrrr!

redback · #4 01-10-08, 08:22 AM

yeah i smashed the old one

WonderWoman · #5 01-10-08, 08:23 AM

Quote:

Originally Posted by redback

yeah i smashed the old one

cool.. I like the rovers but they are $$$. You gettiing a new one? GOOD Luck.

and post pics. I like the orange one...

rado · #6 01-10-08, 08:24 AM

I never get money...I always pay

rado · #7 01-10-08, 08:25 AM

Quote:

Originally Posted by WonderWoman

cool.. I like the rovers but they are $$$. You gettiing a new one? GOOD Luck.

and post pics. I like the orange one...

The Orange one is the Limited Edition...

WonderWoman · #8 01-10-08, 08:26 AM

Quote:

Originally Posted by rado

I never get money...I always pay

sorry to hear.. RADO. I always get money. You should get some next year with your deduction on the way. Last year I got about $6k back and my bonus last year was about 10k, lol. LAST year was a good year with the bonus, but that won't happen again this year and it all went towards the house, prolly 1/2 of that.

I will send you a box of tres leches.. for real

redback · #9 01-10-08, 08:29 AM

Quote:

Originally Posted by WonderWoman

cool.. I like the rovers but they are $$$. You gettiing a new one? GOOD Luck.

and post pics. I like the orange one...

Hey baby you should come for a ride in my jet sometime, i'll swing by your place saturday.

rado · #10 01-10-08, 08:31 AM

Quote:

Originally Posted by WonderWoman

sorry to hear.. RADO. I always get money. You should get some next year with your deduction on the way. Last year I got about $6k back and my bonus last year was about 10k, lol. LAST year was a good year with the bonus, but that won't happen again this year and it all went towards the house, prolly 1/2 of that.

I will send you a box of tres leches.. for real

I haven't got back money for a while...Even with a little one on the way, I have a business now, and amongst a few things....Once you get to a certain bracket, it's hard to get money back...

WonderWoman · #11 01-10-08, 08:33 AM

Quote:

Originally Posted by redback

Hey baby you should come for a ride in my jet sometime, i'll swing by your place saturday.

cool... I am free this weekend

gymratin · #12 01-10-08, 09:15 AM

redback swing by my house - we'll race jets!!

gymratin · #13 01-10-08, 09:20 AM

plan on taking a vacation in march with mine - maybe florida

NewbieChris · #14 01-10-08, 09:39 AM

Quote:

Originally Posted by rado

I haven't got back money for a while...

You have a shitty accountant.

rado · #15 01-10-08, 09:47 AM

Quote:

Originally Posted by NewbieChris

You have a shitty accountant.

Please explain...Since you tend to know WTF you're talking about...

Scrumhalf · #16 01-10-08, 09:56 AM

As long as you are not committing tax fraud, getting back money from the IRS at the end of the year is actually not the smartest thing to do, since it means that you are overpaying over the course of the year. A much better thing is to adjust your exemptions so that you are barely underpaying and have to pay a small amount at the end of the year, safely under the penalty limit which is a percentage of your tax liability. That would ensure that your money earns interest in your back account instead of Uncle Sam's...

rado · #17 01-10-08, 09:59 AM

Quote:

Originally Posted by Scrumhalf

As long as you are not committing tax fraud, getting back money from the IRS at the end of the year is actually not the smartest thing to do, since it means that you are overpaying over the course of the year. A much better thing is to adjust your exemptions so that you are barely underpaying and have to pay a small amount at the end of the year, safely under the penalty limit which is a percentage of your tax liability. That would ensure that your money earns interest in your back account instead of Uncle Sam's...

Someone has a brain around SM...thx...I have someone prepare my taxes(not a company)every year...I submit everything I have, and I always pay...Once you start making a certain amount of money, you always pay...But like mentioned on your post; legally claiming what you're suppose to.

rado · #18 01-10-08, 10:02 AM

And you're taxed depending on your bracket....Tax Brackets (Federal Income Tax Rates) 2000 through 2007

**redsquirrel** · #19 01-10-08, 11:32 AM

Quote:

Originally Posted by rado

And you're taxed depending on your bracket....Tax Brackets (Federal Income Tax Rates) 2000 through 2007

Even still- if you have enough deductions you can still get a return. Buying a house would be the smartest thing to do since you get to write off ALL of the interest, real estate taxes, etc. It sounds like you don't have a lot of deductions, or what you do have doesn't amount to a very high total.

My bonuses every month are taxed at 40%. If I claim exempt, they still take out 30%....just the way the IRS likes to play with me, I guess. I even claimed exempt for half the year last year, and we still got $6k back. This year, I didn't do exempt at all, and we should get back over $10k.

Since sonis just lost his job yesterday, doesn't look like we will be buying anything to speak of. Most of it will go in the bank.

WonderWoman · #20 01-10-08, 11:37 AM

Quote:

Originally Posted by redsquirrel

Since sonis just lost his job yesterday, doesn't look like we will be buying anything to speak of. Most of it will go in the bank.

sorry to hear about the loss on the job. Good luck with that.
My ex claims the house because we still have some debt together and he can use the extra money to pay for some of that, so I don't claim my property.

Its always nice to see some extra money this time of year.. the govt is a rip off. I was paying out an extra $400 a month on federal tax for a surcharge for having him and his daughter on my health plan.. because we weren't legally married, just partnered there is a tax they charge for it. GEEZ. So I will see that in my pocket come next pay day... SWEET

ROCKETW19 · #21 01-10-08, 11:44 AM

Quote:

Originally Posted by redsquirrel

Even still- if you have enough deductions you can still get a return. Buying a house would be the smartest thing to do since you get to write off ALL of the interest, real estate taxes, etc. It sounds like you don't have a lot of deductions, or what you do have doesn't amount to a very high total.

My bonuses every month are taxed at 40%. If I claim exempt, they still take out 30%....just the way the IRS likes to play with me, I guess. I even claimed exempt for half the year last year, and we still got $6k back. This year, I didn't do exempt at all, and we should get back over $10k.

Since sonis just lost his job yesterday, doesn't look like we will be buying anything to speak of. Most of it will go in the bank.

I agree 100% and am in the same boat even goin exempt I still always get 10K or so back.

ROCKILLER · #22 01-10-08, 07:30 PM

Quote:

Originally Posted by rado

The Orange one is the Limited Edition...

Why is that funny, the orange one is pimp.

I adjust mine so that I have about a thousand dollar cushion that I will get back so I'm sure I won't have to pay but I would rather get the money every 2 weeks than at the end.

NewbieChris · #23 01-10-08, 08:48 PM

Quote:

Originally Posted by rado

Please explain...Since you tend to know WTF you're talking about...

I wsa just trying to get a rise out of you...That was fun.