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Can we all just flip a finger at the IRS????
Topic Started: Apr 14 2008, 08:56 PM (709 Views)
jillincolorado
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Just finished our taxes (yes, we always wait until the night before) and we OWE big time.

We took out some of our 401K money and it hurt us. Yeowch...................

<_<


J. O. Y.

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Buryinghill1
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The more we make, the more they take. Why the h*ll should we bother working. :angry:
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Lawndart
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Shoot, we pay every year. I'd rather pay 4 months after I earned the money, then let the IRS use it for over a year, then refund it to me with no interest !

The thing I hate most about being self-employed is the paperwork. :psycho:

OTOH, its a gorgeous day here, and I'll be riding while everyone else has to wait till the weekend, or at least after work :P
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buryinghill2
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jillintexas
Apr 14 2008, 07:56 PM
Just finished our taxes (yes, we always wait until the night before) and we OWE big time.

We took out some of our 401K money and it hurt us. Yeowch...................

<_<


J. O. Y.


I feel your pain. I sold mutual funds to build my new house. Owed big time! :argh:
This year should be back to normal.
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DairyQueen2049
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Feeling the burn here too. :sigh:
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Reynard Ridge
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My husband told me how much we paid and I almost had a cow. Unbelievable. :no: The interesting thing, from our perspective, is that since he has his own corporation, the more money we pay in taxes, the less money he has to employ people: If we paid less in taxes, he could contribute more jobs to the economy.
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OpticalIllusion
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I had to pay again this year. Really just drives me nuts. I work a guaranteed amount of overtime each week and because Im making so much over time they screw me at the end of each year. I swear Im the only person my age thats single that ever owes money. :angry:
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Jersey Fresh
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OpticalIllusion
Apr 15 2008, 05:07 AM
I had to pay again this year. Really just drives me nuts. I work a guaranteed amount of overtime each week and because Im making so much over time they screw me at the end of each year. I swear Im the only person my age thats single that ever owes money. :angry:

I'm part of that club. But someone explain to me how someone who is a full time student and makes less than $20k a year (grad stipend), claims 0 dependents on her W2 and has no investiments, retirement, etc., still OWES taxes?????

I still don't get how that works!
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Fenway
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Nope, OI. We both owed this year. :angry:
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headlesshorseman
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I figure we work January, February, March and UNTIL April 15th to PAY the IRS...After that it's all ours... :teehee: :teehee: :teehee:

SO Ladies....we are MAKING money for US after today...

NOW go out and spend it...

HH :clap:
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Trialbyfire
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OK, I'll be a bi%$# and rub it in that we're getting a big refund. :one:

Although I understand entirely that it's very bad...we overpaid. We *always* owe, but my dh went from being employed by a small company to being an owning partner to being employed by a small corporation to owning again as a partner in only 3 years....so we had a hard time estimating our tax obligation not knowing what his earnings would be for 2007. :brickwall:

Hopefully we know better now for 2008 and we'll break even - which is always our goal.

However.....shopping spree perhaps?? :P
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cindeye
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My goal in life is to pay more in taxes than Bill Gates and Warren Buffett combined.
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jn4jenny
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::crawls briefly out of bomb shelter:: DH and I are getting a very small refund. Like, less than $100. ::crawls back into the bomb shelter::

I would, however, like to flip my finger at the IRS for inviting people to e-file without telling many of them that they'll have to snail mail stuff ANYWAY until they've already PAID for the e-file. Thank goodness I figured that out before I e-filed this year. And thank goodness I own a postal scale so that I don't have to stand in line at the post office on April 15 (I can just print the labels out at home).

Even worse, next year I'm going to have to get a "real tax guy" instead of just using TurboTax and doing it at home. Eff you, IRS, for having a tax system so complex that many of us have to either pay hundreds of bucks to a tax guy or face a humongous ripoff tax bill that we didn't have to pay if we'd been able to understand the tax laws.
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3Bays
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:angry: :brickwall: :psycho: :soapbox: :mallet: :pissed: :argh: :censored: :bigwhoop: :bigwhoop: :duh:

I think I've used every NASTY emoticon available there...

I HATE THE IRS.

That said, we didn't owe this year...but next year? Ouch.

We've been using a CPA for quite a number of years as our situations have changed and shifted...grinches me that we feel we need that kind of help, but I figured at least that was SOME "protection" should we ever be audited...at least there was someone else involved.

I wonder what it was like BEFORE the implementation of taxes like this? CAN you imagine being able to KEEP YOUR OWN MONEY THAT YOU EARNED?????

Makes me wish it was 1888 again. :rolleyes:
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Smiles
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Jersey Fresh
Apr 15 2008, 05:29 AM
OpticalIllusion
Apr 15 2008, 05:07 AM
I had to pay again this year. Really just drives me nuts. I work a guaranteed amount of overtime each week and because Im making so much over time they screw me at the end of each year. I swear Im the only person my age thats single that ever owes money.  :angry:

I'm part of that club. But someone explain to me how someone who is a full time student and makes less than $20k a year (grad stipend), claims 0 dependents on her W2 and has no investiments, retirement, etc., still OWES taxes?????

I still don't get how that works!

You are doing your taxs wrong or who ever does them for you is doing them wrong... Because I'm in the same boat as you although I make more than 20K and I got all my taxs back from federal. Do you get 1098T form from your college? Do you also take the hope/lifetime credit on your taxs? If not you can have someone redue your taxs and send them in or your can wait till next year and have them go over the past 2 years of taxs and correct those and get the money that way. H&R block is the easyest/cheapest way to do that or if you know someone who does taxs...
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