Inspired by tax return thread... let's talk $$

[mom23boys]

I really could care less if someone gets money back or has to pay.

For us we get around $6,000 back. Now I would love to have that money every month. But I can't. The reason is my DH makes great money on commissions. They are taxed at 40%. His regular paycheck there are no taxes taken out even with that we get back a great amount. We have three kids, student loans and mortgage interest. So our taxable income is alot lower and is not taxed at 40%.

So while I would love to have an extra $500 or so every month I can't.

 

[cardaway]

So, you never did answer my question... have you ever had a credit card balance and did not pay in full? Just curious...

That was a question? Looked like another slam. After that poop picture it was hard to tell. Other than speaking my mind when it isn't wanted, I am trying to be respectful.

Need more clarification first anyway, what does CC balance have to do with tax returns?

 

[phorsenuf]

Chances are, if soembody posts a thread with that kind of request, they know there is a problem.

I think it is actually more of they know someone will cause it to be a problem, not that it is a problem.

 

[Crankyshank]

No hard feelings honestly.
It's just a sore subject for me because I would love to have more money during the year (especially with my now outrageously disgusting utility bills) I'm not crazy but I can't risk getting spanked come April. As soon as DH's overtime gets regulated I plan to make adjustments.

 

[kdibattista]

That was a question? Looked like another slam. After that poop picture it was hard to tell. Other than speaking my mind when it isn't wanted, I am trying to be respectful.

Need more clarification first anyway, what does CC balance have to do with tax returns?

I'm sorry... you misunderstood. The "poop" picture was suppose to be something that could have been worse that I spent my money on. Guess humor is not my thing

Anyway, I'm trying to make a point that with what little interest I would be getting from putting my money in a savings account could easily be compared to money you throw away in interest having a credit card balance, no?

No slams... I'm just trying to lighten things up

 

[cardaway]

Anyway, I'm trying to make a point that with what little interest I would be getting from putting my money in a savings account could easily be compared to money you throw away in interest having a credit card balance, no?

IMO it's not about getting the little bit of interest, because I agree that the little bit of savings acount interest isn't worth the risk of not breaking even and having to pay.

IMO it's all about not haivng access to the money in case you need it. The key is being liquid and nobody is getting their money back from Uncle Sam mid year if things go wrong. At that point interest does come into play again, with most people paying interest to somebody.

And since everybody suffers when people are in debt over their head, I am concerned.

 

[keepinitreal]

it's a sad day when the people who don't know jack about someone's family and financial situation decide to make assumptions that they just don't know how to control their spending habits when they should just mind their own business since it was specifically stated it wasn't welcome.

PS: Whats Jacks last name? I might know him!

 

[JudicialTyranny]

Sorry, call it a flame if you want, but that's one of the most silly things anybody could do with their money. It would be irresponsible not to say so.

Yeah, really. There are so many other options - like opening a mutual fund account at Vanguard or wherever - they almost all have plans for an automatic withdrawl.

 

[Disney-Kim]

My goodness I actually agree with Cardaway on this one. I'm looking for tax free loans from all you big refunders. PM me and I'll tell ya where to send the check. Its a sad day when adults can't control their spending habits so the look to the "government" to help them with their spending. Scary!!

why....why does every post about money have to be so judgemental. The OP asked what the biggest return you have ever had...NOT...your opinion on tax returns/gov loans etc.

Please lets keep this about the original topic. not a debate.

 

[kdibattista]

IMO it's not about getting the little bit of interest, because I agree that the little bit of savings acount interest isn't worth the risk of not breaking even and having to pay.

IMO it's all about not haivng access to the money in case you need it. The key is being liquid and nobody is getting their money back from Uncle Sam mid year if things go wrong. At that point interest does come into play again, with most people paying interest to somebody.

And since everybody suffers when people are in debt over their head, I am concerned.

So, I guess I got my answer. And... even though I do not carry a credit card balance, I would not presume you to irresponsible if you do. That's the point.

 

[kdibattista]

We really need the debate board back

 

[disneysteve]

One year for some reason (don't remember what had changed in our circumstances) we got back nearly $6,000. While that was a unexpected surprise, I went straight to the office the next morning and changed my withholding so it would never happen again.

 

[phorsenuf]

why....why does every post about money have to be so judgemental. The OP asked what the biggest return you have ever had...NOT...your opinion on tax returns/gov loans etc.

Please lets keep this about the original topic. not a debate.

Why? Because of all the holier-than-thou people here. It's impossible to have a decent conversation on these boards anymore. Somebody always has to ruin things. It's been really getting bad lately.
The OP asked a question and things were going nicely and then wham. Why people can't keep their noses out of it is beyond me.

I hardly come to these boards anymore and this is precisely why.

 

[cats7494]

The most was $3,000. We average less than that though.
(PS - I love getting a tax refund, am not fiscally irresponsible, and honestly don't care about other people's opinions, thanks)

 

[cardaway]

So, I guess I got my answer. And... even though I do not carry a credit card balance, I would not presume you to irresponsible if you do. That's the point.

Hopefully I successfully explained why I responded. I do believe this is something that could have bad results for the American economy and something I would support the IRS puting a stop to since there is are costs involved. Having said more than I ever thought I would (thought I would be ignored) I'll bow out.

Thanks for letting give my side of things.

 

[cardaway]

Why? Because of all the holier-than-thou people here. It's impossible to have a decent conversation on these boards anymore. Somebody always has to ruin things. It's been really getting bad lately.
The OP asked a question and things were going nicely and then wham. Why people can't keep their noses out of it is beyond me.

I hardly come to these boards anymore and this is precisely why.

So you have never posted anything that disagreed with OP?

Great example of a holier-than-thou post by the way.

 

[CheshireVal]

Why? Because of all the holier-than-thou people here. It's impossible to have a decent conversation on these boards anymore. Somebody always has to ruin things. It's been really getting bad lately.
The OP asked a question and things were going nicely and then wham. Why people can't keep their noses out of it is beyond me.

I hardly come to these boards anymore and this is precisely why.

I kind of feel the same way about this board. I used to spend tons of time here, but it seems like every thread turns into ridiculous petty arguments-- people being jerks just for the sake of it.

I find myself posting here less and less these days.

 

[phorsenuf]

So you have never posted anything that disagreed with OP?

Great example of a holier-than-thou post by the way.

I never said that. What I was talking about was the OP said this:

Oh yeah... please no flames for "giving the government an interest free loan".

Yet, some people just couldn't resist having to say something anyways and ruining a perfectly good conversation.

Now had she asked for opinions on the whole thing than that would be a different story.

 

[phorsenuf]

I kind of feel the same way about this board. I used to spend tons of time here, but it seems like every thread turns into ridiculous petty arguments-- people being jerks just for the sake of it.

QUOTE]

Amen! Even the newbies see it and mention it.

OK...done hijacking the thread.

 

[Feralpeg]

I think it's all in how you look at it. I would say you must have had a very very good year if you ended up oweing that much in taxes!!

Our highest refund has been around $3000 or so. Last year was the worst year in that I swiched companies and in the process unintentionally changed my withholding by too much. We owed $5000 or so. Have fixed that for this year.

Prior to retiring, I was in a high paying position. I claimed 0 deductions. I did this intentionally so that I would get a large return back. We used this money to take vacations. I know some people think this is a bad idea. To each their own. It was my money and my decision.

Last year was unusual. Because I retired from my company, I had to take a certain amount of money from a stock plan. It ended up costing me a lot because I sold a great deal of stock. This year, I will not owe anything. I will also not get anything back because I am living off the money from the stock I sold last year.