What did everyone else do with their tax return

[The Warden]

Its better to learn how to save money than avoid doing taxes for years on end

X2...I was taught from an early age to be careful with money. So, any tax refund I get, I treat as a windfall and immediately goes into savings. OTOH, courtesy of filling out a W-4 form wrong, I've owed money each of the last 6 years. I fixed it last year, so hopefully I'll get something resembling a refund back this year...but haven't filed yet; maybe I'll get started on it today or tomorrow...

 

[Saskredneck]

Will be going toward a set of interco boggers for my 4x4, and possibly some body panels. Tax returns are usually pretty good but with the amount taken off each payday it better be a damn good return. Being in a ****** tax bracket sucks but a couple thousand each tax season sure is nice.

 

[99' 444]

However what I got for free was a pissed off GF,

Girlfriends are never free, whether they're pissed off or not. Also, Remember that your tax return isn't free money the government is giving you, it's money you should have never paid them in the first place. Why in the hell would you want to wait 7 years to get your money back from them?????????? The government definitely has us trained well.

 

[C.J.]

If you are owed a refund and don't file within 3 years, you have no more refund. However, on the flip side, if you owe; you still owe and get hammered with 100% penalty.
And these are the same people who cracked down on car title loans!?!

My tax lady said I needed to change the amount I claim for deductions so I would get a refund. I owed less then $200. The way I see it, I played that hand exactly as I should have.

 

[The FNG]

I'm buying an 85 Mercedes 300D turbo diesel.

 

[79jasper]

What taxes?

 

[jonathan]

I am going to rebuild my front ends on the ford and maybe anew cab then a 14 foot aluminum boat and the most important thing is replacing two floors and 8 joists in my house. Also pay off some credit cards. Then try to save the rest for a rainy day

 

[m885]

Due to all the ice and snow this winter, I got to fix the things that an incompetent 'electrician' blew up when he put 240v through my 120v system... Furnace, fridge, freezer. Working on replacing the three TV's, Keurig, Xbox, and microwave that went up in sparks and smoke. Was supposed to be new suspension lift and tires/wheels for my DD.

 

[jwalterus]

built a replacement for my 10 year old computer
bought a new start cart, another argon tank for the mig, and a used horizontal bandsaw
put the rest in the safe under wife's control and finally quit the job I hated

 

[OLDBULL8]

Just got my State of Ohio refund. With all that, I'm gonna buy me a new snow shovel, wore two out already this winter and a pack of Smokers Choice large Cigars.

 

[riotwarrior]

The theory may sound nice, Al, but the practice is a bit different. Follow the advice, "don't screw with the tax boogey-man." The IRS has numerous penalties to help make you toe the line. At the least, they'll hit you with 'failure to file' and 'failure to pay', and then there is the interest on what you should have paid, on the assessed amount. Get a rather large sum in one shot? More like get a rather large shot at one time. Just remember when you go in for that shot that you have to provide your own Vaseline.

Guess, in US different that here in Canada.

I've done this twice, now having an EX wife who gets child support means she gets it all.

First time I did this it was near 7K return

Last time I did this, it was a tool to create a situation for which I can now move forward in court proving some issues.

Bottom line my ex received over 13,000 dollars this last time based on my technique and that was a 10 year filing period.

Had I been able to keep that $$$ I would be living in my OWN, home not rented home!

We have a much different system here so I know this works.

 

[yARIC008]

Last year I owed about $2500 because my payroll deductions were screwed up and I didn't know. I found out that if you owe that much at the end of the year they then add a $500 fee on to the amount you owe. That was real nice of them...

 

[G. Mann]

I'm working on a new business venture. I hope to get the contract to supply IRS and other government agencies Vaseline with Sand since I have acres of sand anyway.

I figure that since IRS is now the collection agency for Obamacare, I should be in a growth industry.

Perhaps, with a government grant, I can spend and lose more than Solandra.

Still looking for a Company Name.. but got the logo down already.. "We are not happy till you are not happy"

Suggestions?

 

[dunk]

I think the better question is what good, productive and beneficial use could I have done with the nearly $20k the IRS extorted from me with the threat of violence this year. Could have paid off some crippling debt and then had the flexibility to have been able to buy a lot of good and services which would help kick start the economy.

Your goal is not to have a big refund, that's just giving the government an interest free loan. File every year, don't mess with them they can ruin your life worse than any non government sanctioned criminal. Would be nice to pay them nothing and just pay at the end of the year so at least you can make that money work for you while you have it, but if you try that as someone else mentioned they'll force you to pay more for not paying them enough throughout the year. Goal should be net zero in either direction with the IRS at the end of the year, or owing them an amount small enough to avoid the extra taxes for not paying enough.

Anyhow, with the small refund I'll get this year I may do group 31s and new cables since I finally got around to putting in solid battery trays. Had two no starts this year around 0* to low single digits. I believe from loose and dirty cable connections, battery was moving around a bit in the rotted out tray and I think it was only trying to start on one. No good when it's that cold! Maybe figure out some filtration system as I'd like to do a light WMO blend when it warms up, would save me on fuel costs and of course fuel tax. ZF5 swap in the works too when I find a transmission, so throw it in the truck slush fund and it'll go toward one of those.

 

[IDIBRONCO]

I'm going to buy some injectors for my F250. Then I'm going to buy some new wheels and tires for a couple of atv's. Did I mention that I have too many toys?