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Re: Tax refund
[Re: Stacey]
#3471503
08/24/21 09:24 PM
08/24/21 09:24 PM
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Joined: Aug 2003
Posts: 42,784 UR 6
top cat
Freak of Nature
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Freak of Nature
Joined: Aug 2003
Posts: 42,784
UR 6
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E-file and problem solved. That's why l pay to have it done
LUCK:::; When presistence, dedication, perspiration and preparation meet up with opportunity!!! - - - - - - - -A government big enough to give you everything you want, is big enough to take everything you have. Thomas Jeferson - - - - - - - -
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Re: Tax refund
[Re: top cat]
#3471519
08/24/21 09:38 PM
08/24/21 09:38 PM
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Joined: Mar 2012
Posts: 2,477 Mississippi
riflenut
10 point
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10 point
Joined: Mar 2012
Posts: 2,477
Mississippi
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E-file and problem solved. That's why l pay to have it done Not exactly. My CPA e-filed about 5/10 and I’m still waiting.
"The democracy will cease to exist when you take away from those who are willing to work and give to those who would not." Thomas Jefferson
"I ask, who are the militia? They consist of now of the whole people, except a few public officers." George Mason
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Re: Tax refund
[Re: Darrylcom]
#3471598
08/25/21 06:22 AM
08/25/21 06:22 AM
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Joined: Jun 2014
Posts: 4,455 Jasper Al
eclipse829
10 point
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10 point
Joined: Jun 2014
Posts: 4,455
Jasper Al
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What is a tax refund? Seriously guys if you are getting refunds you paid too much in and they held your money all year and you could have made gains on that extra money in the market. Don’t let the government make extra on you. Owing a few hundred at the end of the year is way better than getting a $3k refund. You leave those Government savings plan folks alone. If they figure it out, it will literally kill the retail sales of the 3 T's come spring. Tattoos Tires TV's
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Re: Tax refund
[Re: Blessed 1]
#3471599
08/25/21 06:23 AM
08/25/21 06:23 AM
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Joined: Feb 2011
Posts: 3,747 RBC, AL
Drake322
10 point
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10 point
Joined: Feb 2011
Posts: 3,747
RBC, AL
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We are still waiting the State return This.
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Re: Tax refund
[Re: Blessed 1]
#3472346
08/26/21 07:36 AM
08/26/21 07:36 AM
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Joined: Apr 2013
Posts: 4,675 Alabama
Rmart30
10 point
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10 point
Joined: Apr 2013
Posts: 4,675
Alabama
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We are still waiting the State return This just on personal income or any business type income and write offs? Reason asking is the state is doing a ton of audits this year on small biz owners and those with "extra" income and deductions. They wont submit a refund if they have you down for a audit.
Ethical behavior is doing the right thing when no one else is watching - even when doing the wrong thing is legal. Aldo Leopold .. (except when it comes to trailer tags)
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Re: Tax refund
[Re: Darrylcom]
#3472426
08/26/21 09:19 AM
08/26/21 09:19 AM
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Joined: Dec 2004
Posts: 19,013 .
ford150man
Old Mossy Horns
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Old Mossy Horns
Joined: Dec 2004
Posts: 19,013
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What is a tax refund? Seriously guys if you are getting refunds you paid too much in and they held your money all year and you could have made gains on that extra money in the market. Don’t let the government make extra on you. Owing a few hundred at the end of the year is way better than getting a $3k refund. That’s not always the case. I work on salary plus commission and get paid a small check three weeks a month then get my commission the other week. Because of this, the government views this large check as a bonus so they hit me at a much higher tax rate. I already claim 9 dependents on my check to try and get the max in pay, then claim the actual amount at tax time. I’ve talked to several CPAs to see if there is anything I can do and they all say the same thing, no. I guess I could try and figure my yearly tax bill, which is difficult to do because my pay fluctuates so much, then once I hit it, just tell my company to stop taking taxes out of my check. Pretty big gamble though. It’s been this way for the last 15 years and I’m used to it.
If voting made any difference, they wouldn’t let us do it.-Mark Twain
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Re: Tax refund
[Re: ford150man]
#3472499
08/26/21 11:18 AM
08/26/21 11:18 AM
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Joined: Jul 2015
Posts: 1,862 Alabaster, AL
Darrylcom
8 point
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8 point
Joined: Jul 2015
Posts: 1,862
Alabaster, AL
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What is a tax refund? Seriously guys if you are getting refunds you paid too much in and they held your money all year and you could have made gains on that extra money in the market. Don’t let the government make extra on you. Owing a few hundred at the end of the year is way better than getting a $3k refund. That’s not always the case. I work on salary plus commission and get paid a small check three weeks a month then get my commission the other week. Because of this, the government views this large check as a bonus so they hit me at a much higher tax rate. I already claim 9 dependents on my check to try and get the max in pay, then claim the actual amount at tax time. I’ve talked to several CPAs to see if there is anything I can do and they all say the same thing, no. I guess I could try and figure my yearly tax bill, which is difficult to do because my pay fluctuates so much, then once I hit it, just tell my company to stop taking taxes out of my check. Pretty big gamble though. It’s been this way for the last 15 years and I’m used to it. Your taxes go up that week not because the gov thinks it’s a bonus but let’s say the small checks are $500 each and the big one is $10k. You are taxed 3 weeks like you make $26k a year and the last week you are taxes like you make $520k. That is why you get a refund because at the end of the year you are taxed on your true income. One solution is to ask your employer to treat the 4th check as a bi weekly or monthly payroll. Our payroll company does this for us. Be careful going to monthly for that check you might end up owing. Safer to try biweekly for a while first.
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