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

[cardaway]

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

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.

 

[kdibattista]

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.

Thanks mom

 

[kdibattista]

P.S. I can think of worse things

 

[golfgal]

I think the most we got back combined state/federal was about $5000, we usually get back about $1000 but that is as close to break even as we can get. If we have them take out one more deduction worth, we end up paying in so the $1000 spread over the 24 pay periods DH has is about $40/paycheck and not really worth adjusting to knock down.

This year I think we will be getting back quite a bit because we bought DS a trombone and with the education deductions we get in MN the trombone, lessons, tuition, etc. will give us a healthy state refund.

 

[keepinitreal]

Well, my husband is a CPA, although he doesn't work in public accounting now. He definitely falls in to the category of never wanting to give the government an interest free loan. He tries extremely hard to break even every year. I think the most we have ever gotten back is maybe $500, and a couple of times we have actually had to pay a few hundred dollars. His dream is to break perfectly even.

Smart man!

 

[phorsenuf]

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.

We don't care....

 

[keepinitreal]

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.

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!!

 

[kdibattista]

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!!

For anyone interested, here's the address:

Knowitall Residence
123 Highhorse Lane
We're Perfect, PA 12345

 

[kdibattista]

Oh yeah... I'm sure you don't carry any credit card balances either, right

 

[Crankyshank]

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!!

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.

 

[kdibattista]

Thanks Jenn

 

[cardaway]

Thanks mom

You're welcome. Too bad you choose to ignore the good advice.

 

[CheshireVal]

Back on topic:

When I was single, the most I got back was $500. This year is the first year I'll be filing married (jointly), and even though my husband is in school and only working a part-time minimum wage job... I don't think we'll be getting anything back at all.

 

[cardaway]

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.

Sorry you feel that way Jenn.

Frankly I these threads are getting out of hand. If people want private threads maybe they should ask the WM's if it's something they could make happen.

As far as the topic, this isn't one of those topics where you need to know details, bad idea no matter what. If you don't get burned, you were just lucky.

 

[kdibattista]

Sorry you feel that way Jenn, especially since you're thread of this type has had many "unwelcome" visitors.

Frankly I these threads are getting out of hand. If people want private threads maybe they should ask the WM's if it's something they could make happen.

As far as the topic, this isn't one of those topics where you need to know details, bad idea no matter what. If you don't get burned, you were just lucky.

Then maybe you should not read them... just a thought

 

[Crankyshank]

I'm not sorry I feel this way at all. I'm sorry that people have to jump in and assume that just because I get a few thousand back every year I don't know how to manage my money so I'm relying on the government. Would you rather people even out their taxes through the year and get into credit card debt they can't get out of. Personally I'd rather have those who give the government the free loan and use the payback as their extra cash to buy wants as opposed to getting themselves over their heads.

My brother has to pay in thousands of dollars every year because the amount of overtime he makes doesn't get taxed properly and it affects his tax bracket. I don't understand how I am being frivolous and silly because I deliberately have more taken out of our paychecks to avoid the same situation. Especially considering I consulted a CPA who has worked for the IRS in the past before making this decision.

These threads are not getting out of hand. The OP specifically requested not having specific comments. That is far different from the status quo threads here where they ask for advice and flip out because they are actually getting it because they really just wanted pixie dust but didn't ask for it specifically.

 

[cardaway]

Then maybe you should not read them... just a thought

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

I'm far from the only one giving an opposite opinion on this matter, but I can take it if I'm the only to get heat for it.

 

[ead79]

As people who rent and do not have enough to deduct to be more than the standard deduction (at least I don’t think we do, LOL), we file a 1040EZ. The most we’ve gotten back was just $400-$500. I doubt we’ll ever get a big refund unless we do when we buy a house or have to start paying DH’s student loans back.

 

[kdibattista]

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

I'm far from the only one giving an opposite opinion on this matter, but I can take it if I'm the only to get heat for it.

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

 

[cardaway]

I'm not sorry I feel this way at all. I'm sorry that people have to jump in and assume that just because I get a few thousand back every year I don't know how to manage my money so I'm relying on the government. Would you rather people even out their taxes through the year and get into credit card debt they can't get out of. Personally I'd rather have those who give the government the free loan and use the payback as their extra cash to buy wants as opposed to getting themselves over their heads.

First of Jenn, I am sorry. I've always respected your opinion and take it seriously when you speak out.

It was my take that this isn't making sure you error on the side of getting back rather than paying out. Much mrore than that, paying lots more as savings account. How is it a good idea to separate yourself from money all year that you could need in a crisis?

I did the same thing until our income was a given BTW, but you bet I got away from it when I could. Way too risky.