Tax time

[Duck Butter]

Does anyone feel like they are getting screwed this year? I keep trying to itemize and find everything we can use for deductions, and trying married filing joint, single, etc and just keep coming back with either having to pay in or getting a very small return. Last year we got a good bit back, what gives?

[ckinchen]

It is impossible for me (or anyone) to say without knowing the changes in your income, deductions, expemptions you claim, withholdings this year compared to last and other activity compared to last year. Obviously you would not want to post all of that on here outside of a pm.

[Armand16]

compare the taxes withheld and deductions from this year to last year.. If they are they same then your return should be the same as well

[Duck Butter]

I am going to compare last years to this year and see what the heck is happening thanks

[Montauk17]

First year I ever had to pay....not getting a penny back. Owed over 1,500 bucks....makes me sick like I didn't pay them bastards enough. They are nothing more than professional thugs.

[mequain]

Originally Posted by Montauk17

First year I ever had to pay....not getting a penny back. Owed over 1,500 bucks....makes me sick like I didn't pay them bastards enough. They are nothing more than professional thugs.

Same here, I wanted to go postal after filing this year.....

["W"]

thats why I wait till April 1st before I even think about doing taxes.....its like getting your azz hot waxed

[alphaman]

Originally Posted by "W"

thats why I wait till April 1st before I even think about doing taxes.....its like getting your azz hot waxed

Lol

sent from my Galaxy NOTE II

[swamp snorkler]

I got more back than ever this year without itemizing, Thank You Obama!


#inbeforeyougavethegovernmentaloan








































































J/K on the Obama part.

["W"]

Originally Posted by swamp snorkler

I got more back than ever this year without itemizing, Thank You Obama!


#inbeforeyougavethegovernmentaloan








































































J/K on the Obama part.

For real??? I always itemizing like a mother.......Thats why it takes me so long to do taxes....

[swamp snorkler]

Originally Posted by "W"

For real??? I always itemizing like a mother.......Thats why it takes me so long to do taxes....

Not enough deductions, I would have needed about $2,200 more and I didn't have that in deductions, believe me my tax prepper has a long list of deductions to look at and knows how much you bend it before Uncle Sam takes a look at it. This is my last year going to her though, I can do short form myself or get my mom to do it.

[Armand16]

Originally Posted by swamp snorkler

Not enough deductions, I would have needed about $2,200 more and I didn't have that in deductions, believe me my tax prepper has a long list of deductions to look at and knows how much you bend it before Uncle Sam takes a look at it. This is my last year going to her though, I can do short form myself or get my mom to do it.

Does anyone know what dollar amount or ratio triggers this red flag?

[Duck Butter]

Originally Posted by Armand16

Does anyone know what dollar amount or ratio triggers this red flag?

I made a mistake (an honest mistake) on my taxes one year and I am not a big baller by any means and they came after me. Long story short: fell from treestand, broke pelvis, owed $40k in medical bills due to no insurance at the time because I thought paying for health insurance was crazy for someone my age. I was able to settle for $10k and never thought anything of it. This was in 2006 I believe. Everything going fine until 2010, I got a letter from IRS stating I owed $8k in back taxes and penalties. The reason was that the $30k was taxable and I didn't report it, didn't know to report it, after all I had just paid $10k outta pocket for being stupid in a treestand. When I got that letter, it was like someone shot my dog. Let me be the first to tell you that the IRS does not play games. There was nothing I could do to try and settle or get them to drop the penalties. Don't frick with the IRS!

[ckinchen]

When the government takes back your deductions because you are "to fortunate" you tend to get really upset. The tax code especially the earned income credit is a form of welfare. If you want the budget to be balanced, remove the earned income credit.

[Reggoh]

Originally Posted by ckinchen

When the government takes back your deductions because you are "to fortunate" you tend to get really upset. The tax code especially the earned income credit is a form of welfare. If you want the budget to be balanced, remove the earned income credit.

AMEN!! And they should take away the Child Tax Credit for people that are on Government support also... Why should they get a $1000 tax credit if the Government is taking care of their children??

[simplepeddler]

For what I pay in taxes I should have several federal workers cutting my grass once a week

[fishinpox]

Originally Posted by simplepeddler

For what I pay in taxes I should have several federal workers cutting my grass once a week

X2 ... Should be driving several f250's lol AT least

[simplepeddler]

any "forgiven" debt is taxable.
There is a corporate trend to forgive blue collar theft. The courts usually give a person probation, then they pay the company back 7 bucks a month for eternity.............BUT if you let it go, do not file charges, can prove they stole (usually get a confession for no charges) THEN you turn them over to the IRS..........yep stolen money is taxable.

[Duck Butter]

Originally Posted by simplepeddler

any "forgiven" debt is taxable.
There is a corporate trend to forgive blue collar theft. The courts usually give a person probation, then they pay the company back 7 bucks a month for eternity.............BUT if you let it go, do not file charges, can prove they stole (usually get a confession for no charges) THEN you turn them over to the IRS..........yep stolen money is taxable.

Yep, I learned that the hard way. Goes for credit card debt, student loans, etc.

[RickLafayette]

If you think this year is bad, wait until next year (2014). That's when the big Obamacare taxes kick in. You'll be taking home a lot less money, for some, as much as 20%. My biggest fear is the collapse of the economy. I used to laugh when I would hear people talking about a day when insurrection would take over this country. I'm not laughing any more. I'm collecting ammo.