Taxes!?!?

HomeLAN

New Member
Gonz said:
I believe the limit for getting back more than you paid in is around $90,000. After that, they rape you.

WTH are you talking about? I'm showing a bit less than that and getting raped.

If you're referring to the EIC, it phases completely out at $35,458 and in chunks leading up to that.
 

Gonz

molṑn labé
Staff member
so much for facetiousness.

Make 32k & get back more than you put in???? The EIC is run by the Gambinos.
 

greenfreak

New Member
Inky, I don't know about your situation but when Rusty was doing contract work, we got killed at tax time.

My accountant called me the night before last, between Rusty and I we're getting back about $6000. We're pretty happy. :D
 

Inkara1

Well-Known Member
greenfreak said:
Inky, I don't know about your situation but when Rusty was doing contract work, we got killed at tax time.
I made a grand total of $500 there. I'm showing a refund of $400-ish right now, so I think I have a little leeway.
 

Gonz

molṑn labé
Staff member
greenfreak said:
My accountant called me the night before last, between Rusty and I we're getting back about $6000. We're pretty happy. :D

Sweet. As nice as it is, getting a large refund, you really need to rearrange your W4s to bring home that $500./month instead of offering to the gov't as an interest free loan. Hell, $500/mo into a retirement account, would look really nice down the road.
 

greenfreak

New Member
I put about $500. in my 401k per month, as does Rusty. I actually claim 1 instead of 0 during the year like Rusty does.

He just got another 6k raise and a promotion last week and he now officially makes more money than I do. We've been pretty responsible with the money, paid off everything except my car and his school loan. After we get the return, our savings account will be back up to the balance it was before we put a down payment on the car and paid off my credit cards and school loan last year.

We're not taking a vacation this year so to celebrate our good fortune, we are looking into a purchase I've been putting off for three years. My first digital camera. :)
 

Inkara1

Well-Known Member
You looking into getting a digital SLR? Those are nice. I really thought about getting the Canon EOS Digital Rebel, but decided that for the way I use it and what I use it for, it's not worth quite that much money. So I looked for something with decent picture quality and the ability to fit in a picket. I'm pretty happy with my Sony Cybershot W1 so far.
 

Winky

Well-Known Member
A multi-multi-multi-millionare ( the Pa of one of my Kid's school friends) told my Son that tax free dollars are the best dollars....
 

greenfreak

New Member
Inkara1 said:
You looking into getting a digital SLR? Those are nice. I really thought about getting the Canon EOS Digital Rebel, but decided that for the way I use it and what I use it for, it's not worth quite that much money. So I looked for something with decent picture quality and the ability to fit in a picket. I'm pretty happy with my Sony Cybershot W1 so far.
I've heard great things about both cameras, the Canon and Sony. You hit on the most important factor to consider when buying a camera -- the way you use it and why. I look at it like computers, I wouldn't use the power that a $3500. laptop would buy me, so why bother? It's not that a "lesser" model isn't as good, it's as good as I want it to be.

Yes, a digital SLR is what we're going for. I want all the functionality I have now with my old one so that was a must. We were looking at the Nikon Coolpix which is highly rated and the price was right but you can't take the lens off the body. We looked into Minoltas and Canons also but settled on the Nikon D70. Rusty has a friend who got one for Christmas so we were able to play with his for a while, see what it can do. We're going today to a trusted camera store to try it out, look at lenses, filters and talk pricing. This store routinely gives us deals on equipment so we'll probably wind up buying through them. But we're waiting until the return is deposited next week.
 

Winky

Well-Known Member
Um not really what I was talkin' aboot.
All the things you listed are taxed one way or another
their gonna git ya git ya git ya git ya git cha...

Um like Corporations and 1031 exchanges and such.

Personal income (and W-2 income) is the devil.
 

HomeLAN

New Member
The earnings aren't (well, partially on the munis). What you're listing works, but not for the average bear.

My personal favorite is cap gains on a primary residence. Gotta love that '97 act.
 

Winky

Well-Known Member
Hell yeah that NEVER should have been taxed to begin
with.

The average bear should be screaming to get rid of the death tax permanently.

Having to get everything out of your name and into a trust before you shuffle off your mortal coil is such a pain. (unless you were smart enough to have it there to begin with heh heh)
 

Gonz

molṑn labé
Staff member
Winky said:
The average bear should be screaming to get rid of the death tax permanently.

While I firmy believe that this tax is nothing short of robbery, there is one man who shoud be taxed at 99%. Bill Gates. He thinks the death tax is a-okay.
 

Inkara1

Well-Known Member
I mailed my form in on 4/11 (using standard mail, not even certified) and my $410 refund got direct-deposited this morning.

I'm still waiting for my tax forms from DishNet USA.
 
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