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Old 01-29-2005, 01:18 AM   #21
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As the Qshark said, What is this re-thing? re-fund?
I have been self employed for over 12 year. It's been a long time since I have gotten a return. Seems like they always want more.
For those of you getting one.............enjoy.
After all, it is your money, not theirs.
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Old 01-29-2005, 04:55 AM   #22
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this is my first time ever doing taxes. im not looking forward . its probably going to drown all of the small amount of money thats in my bank acount. i figure if you cant drive you shouldn't have to file taxes
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Old 01-29-2005, 09:20 AM   #23
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After all, it is your money, not theirs.
I don't know about that, I'm getting a little over twice what I put in, due to the additional child tax credits, which is refundable.
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Old 01-31-2005, 04:29 PM   #24
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I didn't get EIC (missed it by about $2000), but I'm in a single income household, so there wasn't much to tax to begin with.
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Old 01-31-2005, 04:47 PM   #25
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I am self-employed and I pay taxes quarterly, and I would prefer to pay out exactly what I owe, rather than use the US Gov. as a savings account. I almost always owe more than I pay during the year, because every year I seem to make just a little bit more. The more I make the poorer I get!!

Self-employment taxes are huge - the price I pay to be at home with the kids.... Oh joy.
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Old 01-31-2005, 05:05 PM   #26
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Originally Posted by TankGirl
...every year I seem to make just a little bit more.
well congrats.... I think? You don't sound to happy about what sounds like success.
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Old 01-31-2005, 05:14 PM   #27
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It IS success! I am in demand but I'm overextended, meaning I am having to get up earlier and stay up later to get my work done, then I never seem to have enough money to pay the tax man. I have a very good accountant whom I could not live without, though, and he finds all kinds of deductions for me.

Once the twins go to school (Sept. '06, but whose counting? ) I will be better able to handle the load.
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Old 01-31-2005, 05:25 PM   #28
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My wife got her w-2 last week I think, but I'm waiting to make sure we have everything we need to file. I'm a little confused about one thing though. After we got our loan(for our house) we only made one payment to this one bank before the loan was sold to another bank. The payment was for something like $480.07(something like that...) and I got something in the mail from that bank saying we paid just over $490 in interest. How could we have paid that much interest when we didn't even pay them that much money in total?
I'm sure I'm like a lot of you, looking forward to a refund but have more things to do with the money than we'll have money for. Where do I start? Driveway, lawn, dishwasher etc, etc... There's also a few fun things I'd like, like a metal detector, a new digital camera, and an antenna for the roof...
we've been fortunate the past few years. We've gotten back more than my wife paid in taxes the entire year. But I wont complain about that.
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Old 01-31-2005, 07:14 PM   #29
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<BEGIN RANT>

Since I just filed and for the 4th year in a row have to pay in (and I'm still paying 03 and 04) I'm going to blow off some steam.

EICs:

Get real, when you get a tax credit that results in you getting back more than you paid in, it's UNEARNED INCOME (read welfare). People with chidren place more of a burden on government programs than people without children, yet are expected to pay for the programs people with children use? Every time I turn around, I'm getting nailed for a fee or local option tax to pay for schools I don't use, and I hear the people who do use them whining about tuition and other fees they have to pay.

Interest Deductions:

Ludicrous. I rent a house, my rent pays all my landlords expenses. Mortage, interest and property taxes, not to mention maintenance. I have no less expenses in renting than someone buying a home, and my renters insurance is more than a home owners policy would cost me on the same on the same property. The only difference is I don't get the benefit of equity and appreciation. Why in hell should a home owner be allowed a deduction for interest on their mortage without a corresponding, in kind deduction for non-owners?

Business Deductions:

OK, many are legit. many are not. My landlord drives a (extremely gawdy looking) Escalade, loves to tell me how he got to write it off in one year as a business expense, and the tax code that allowed him to do it is supposed to be for companies writing off legitimate business vehicles, not for some fat cat to drive around in a "look at me ain't I grand" POS. I HAVE to have a vehicle to get to work and back and other required aspects of living, but I'm not allowed to write off anything on my rather humble vehicle.

Conclusion:

I see people STRUGGLING everyday trying to get by, they aren't living in mansions, they aren't driving status symbols, they're just trying to earn a living and do their best. If anyone on the planet needs a break it's them. Instead they end up paying for things that other people get the benefit of.

With the exception of the EIC, most deductions and credits are aimed at people who aren't poor, but seem to have no problems making the guy who mows their lawn or cleans their office pay an 8% sales tax just so their snotty little kids can have a new swimming pool at a school where the working poor can't go to because they can't afford to live in the district they're forced to pay for.

I got in an argument once with an idiot complaining about paying too much in taxes and blaming it on the poor and the welfare they receive. He makes about twice as much as I do, but the bottom line was, he actually paid less than I did if you think of it in terms of a percentage of our gross income. If he's burdened by those taxes, what about the people who have to make up for the tax welfare he receives?

</END OF RANT>

Now I'm going to get flamed like a ball park frank .....
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Old 01-31-2005, 07:55 PM   #30
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I don't think you'll get flamed, but I'm watching all the same. I certainly understand your frustration, but your mixing your taxes, federal income taxes are completely seperate from state income taxes and sales taxes. FWIW, there is nothing wrong with the eic, where people get over is that it is refundable. If it were a non refundable credit, it would be more fair. In addition to some of the things you've mentioned...you take a fairly big hit for being married. Had my wife and I seperated or divorved prior to July 1st of last year and not lived with each other at all for the rest of the year, we would have gotten more than triple our joint return between the two of us.
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