Exciting boredom post here

[SwampDawg]

Yesterday my tax refund of $1300 got posted to my checking account. A couple of hours later my dentist said he had to replace one of my caps. Guess how much the bill is going to be.

 

[horshack.sixpack]

What is this tax refund of which you speak?

 

[jack daniels dog]

What is this tax refund of which you speak?

Quit bragging man....

 

[The Peeper]

He's referring to the "$1300 interest free loan" that he provided the IRS this year that was finally returned and put back into his checking account where it already would have been had he had the proper deduction adjustments. I'm not judging, mine was just a net $400 this year

 

[PineGroveBully]

It’s funny you say that, I haven’t heard it put that way since my tax classes. She said the best tax return outcome was to owe about $1000 each year as it meant the US Treasury had given you a $1000 interest free loan.

 

[GloryDawg]

It’s funny you say that, I haven’t heard it put that way since my tax classes. She said the best tax return outcome was to owe about $1000 each year as it meant the US Treasury had given you a $1000 interest free loan.

I think the best is being as close to zero as possible.

 

[DoggieDaddy13]

I got a fat refund because.... Winning with DJT!

However, it's already been spent on plumbing, home repair, and a meaningless vanity project to keep up with the Jones. C'est la vie.

 

[horshack.sixpack]

I actually overpay occasionally. I always try to end up even. It's just surprising how often I get it wrong, and never in my favor...

ETA: surprising isn't the right word; depressing

 

[horshack.sixpack]

yeah, I just always screw mine up in the IRS's favor and not mine

 

[PineGroveBully]

I think it all depends on if the taxpayer has the wherewithal to pay the grand in the spring without putting a strain on their finances. Sadly for most folks that isn’t the case, even for those with good jobs. In those cases you are probably correct.

 

[archdog]

I got a fat refund because.... Winning with DJT!

However, it's already been spent on plumbing, home repair, and a meaningless vanity project to keep up with the Jones. C'est la vie.

If you were really winning, you would owe taxes due to the vastly more money you made through windfall bonuses and such that exceed the deduction tables ability to adjust properly.
If you got money back, it means either you did not deduct the proper amount or you made less money than you were set up to make.
#winningatfailing
#nooffenseitsjustmath

 

[archdog]

I got a fat refund because.... Winning with DJT!

However, it's already been spent on plumbing, home repair, and a meaningless vanity project to keep up with the Jones. C'est la vie.

I personally like owing an additional 30 grand above my additional quarterly taxes, because of how bad *** of a year I had. That is winning.

 

[johnson86-1]

He's referring to the "$1300 interest free loan" that he provided the IRS this year that was finally returned and put back into his checking account where it already would have been had he had the proper deduction adjustments. I'm not judging, mine was just a net $400 this year

So that $1300 loan, so say an average of about $650 over the course of hte year, would have netted about $9.75 in a high interest checking account paying 1.5% (which I think is roughly what the rate has been for the last year). So say another $10.91 with the interest from Jan. 1 through end of May. $21 is not nothing, but not worth getting bent out of shape over.

 

[WilCoDawg]

Cue the usual suspects to educate us all on how it isn’t really “our” money in the first place.

 

[DoggieDaddy13]

I'm sorry you haven't discovered how to win yet, Archdog. You play by your rules. I'll play by mine.

"That makes me smart." - DJT

 

[OneParticularHarbor]

Yesterday my tax refund of $1300 got posted to my checking account. A couple of hours later my dentist said he had to replace one of my caps. Guess how much the bill is going to be.

About tree-fitty?

 

[stateu1]

I personally like owing an additional 30 grand above my additional quarterly taxes, because of how bad *** of a year I had. That is winning.

I guess the down voters don't understand that if this is the case, you SHOULD have the money to pay the tax. Gees.

 

[Leeshouldveflanked]

I personally like owing an additional 30 grand above my additional quarterly taxes, because of how bad *** of a year I had. That is winning.

I wonder how many Flat Screen TV’s you bought for the Stay Safe at Home crowd this year?

 

[fishwater99]

I owe every year, and it's on purpose. Luckily this year it's only $3,000 extra and I got a free extension to pay this year.

 

[Beretta.sixpack]

i got some back this year and all hell broke loose....

Yesterday my tax refund of $1300 got posted to my checking account. A couple of hours later my dentist said he had to replace one of my caps. Guess how much the bill is going to be.

I got $1200 back total State and Feds combined.....first time ive had a refund in years....but not enough to cover

Since March 15:
Tankless Hot water heater went out ($2500)
Refrigerator died ($1200 for a new one)
Microwave shot fire out ($500 for the new one)
TV in bedroom (had a spare in attic)
Pool Pump ($575 installed myself)

My son broke his collar bone riding a 4 wheeler....17'd up the 4 wheeler too....

2020 can suck it

 

[jethreauxdawg]

Yikes that sucks

But what kind of microwave costs $500?

 

[Beretta.sixpack]

500 with trim kit....but man there are microwaves out there up to 1500....crazy

 

[Go Budaw]

500 with trim kit....but man there are microwaves out there up to 1500....crazy

I just had to pay $130 for a simple bump-out kit for our OTR microwave for the vent to extend past our new cabinets. Its literally a 3 sided steel stamping bent to shim it out another 3 inches....couldn’t cost more than $20 to make. And at our old house, I had to get a plastic trim piece for an in-cabinet microwave....for $80. The microwave game is rigged as hell.

 

[BiscuitEater]

I owe every year, and it's on purpose. Luckily this year it's only $3,000 extra and I got a free extension to pay this year.

Owing about $1000 seems to be rough limit before penalties kick in ...

IRS code

Generally, most taxpayers will avoid this penalty if they either owe less than $1,000 in tax after subtracting their withholding and refundable credits, or if they paid withholding and estimated tax of at least 90% of the tax for the current year or 100% of the tax shown on the return for the prior year, whichever is smaller.

 

[pDigital32Dawg]

You sure there’s not a bigger electrical problem hiding in the walls?

 

[stateu1]

Owing about $1000 seems to be rough limit before penalties kick in ...

IRS code

Generally, most taxpayers will avoid this penalty if they either owe less than $1,000 in tax after subtracting their withholding and refundable credits, or if they paid withholding and estimated tax of at least 90% of the tax for the current year or 100% of the tax shown on the return for the prior year, whichever is smaller.

This usually the case if you get annual raises.

 

[Beretta.sixpack]

I do question that....in fact, would like an opinion...

You sure there’s not a bigger electrical problem hiding in the walls?

Here is the question: Hot water heater is gas....TV was 10 yo....have 4 others that are fine....microwave 15 yo built in...Pool pump 15 years old...Fridge was 11 years old and issue wasn't electrical as far as I know....

I told my wife that i wondered if it had to do with bad lightening storms....we were in Kentucky on family farm for 30 days during shutdown....while we were gone, our power went out once a week for 3 weeks due to bad bad storms....i have no clue, but with the luck ive had with all this, it makes me wonder....i do know that most of the items going down have lived longer than the life expectancy