Paying Taxes SUCKS!

[BoyNextDoor]

By this I am in particular talking about income tax. April 15 is around the corner and the taxman cometh - the fucker.

I am seriously starting to think that those that pay income taxes should have more direct say in how they are spent, or at least in the allocation. I'd like to earmark my taxes for free college education to those who can make the grade, the Small Business Administration grants programs and U.S. Energy Department loan guarantees for renewable energy. None for war or so-called homeland security (and the tanks for cops programs).

 

[SolarHomo]

Just left my tax lady's office. She's fun; I write her a check; It's always done right. I get a blue folder and chuck it in a drawer and don't think about it until next year. It's no big deal.

 

[BoyNextDoor]

Just left my tax lady's office. She's fun; I write her a check; It's always done right. I get a blue folder and chuck it in a drawer and don't think about it until next year. It's no big deal.

No refund?

 

[someoneyouknow]

No refund?

Why would you want a refund? All you're doing is giving the government an interest free loan for a year.

It's one of the stupidest financial mistakes you can make, deliberately getting a refund.

 

[BoyNextDoor]

Why would you want a refund? All you're doing is giving the government an interest free loan for a year.

It's one of the stupidest financial mistakes you can make, deliberately getting a refund.

Do I know you?

 

[Killswitch]

I pay taxes 4 times a year. I pay A. Lot. Pretty healthy checks to the feds and state.

I couldn't care less where it goes.

I got a 255 dollar refund from the feds and a 247 refund from state for last year.

Pretty close I'd say.

 

[Killswitch]

Why would you want a refund? All you're doing is giving the government an interest free loan for a year.

It's one of the stupidest financial mistakes you can make, deliberately getting a refund.

On the other hand, most people would never save that money and it would blend in/disappear.

So for them it's a win in April.

 

[BoyNextDoor]

I care where it goes. Maybe those that pay more should have more say in that. Or maybe I am just disgruntled at the size of the check this year.

 

[SolarHomo]

No refund?

$2.5k. It's only money. I hate to pay and the government could certainly use the loan.

 

[Mr Noone]

Why would you want a refund? All you're doing is giving the government an interest free loan for a year.

It's one of the stupidest financial mistakes you can make, deliberately getting a refund.

Yeah, that forty dollars a week would really make a change in my lifestyle if I didn't let the gubmint keep it, interest free. In fact, I should dedicate that forty bucks in a special savings account where I could probably make ten cents in interest for the year. Maybe twelve.

 

[SolarHomo]

Yeah, that forty dollars a week would really make a change in my lifestyle if I didn't let the gubmint keep it, interest free. In fact, I should dedicate that forty bucks in a special savings account where I could probably make ten cents in interest for the year. Maybe twelve.

Start a scotch fund.

 

[Lord Pmann]

Filing taxes right now... yuck.

So boring. So confusing.

 

[BoyNextDoor]

Yeah - doing the taxes sucks too.

 

[krackheadkathy]

i must agree that shit sucks...here...let me bend over,,,heres some lube I know u wont use...ass hole...yes this all directed at the IRS/GOVERNMENT and any other m-ucker taking my shit without breaking their back like my old man does.....ok im off my pedestal

 

[Killswitch]

i must agree that shit sucks...here...let me bend over,,,heres some lube I know u wont use...ass hole...yes this all directed at the IRS/GOVERNMENT and any other m-ucker taking my shit without breaking their back like my old man does.....ok im off my pedestal

Doesn't that make it "his" shit?

 

[someoneyouknow]

Do I know you?

Does it matter? It's still valid advice. Ask any tax preparer or accountant and they will tell you deliberately getting a refund is bad financial planning.

Besides the point of giving an interest free loan, that's money which could be used for something else such as paying down the balance on a credit card, adding to a rainy day fund, put into a retirement account or used for general expenses.

It's your money, why not keep it for yourself?

 

[possum123]

If you get a refund you are doing something wrong.

 

[SolarHomo]

Does it matter? It's still valid advice. Ask any tax preparer or accountant and they will tell you deliberately getting a refund is bad financial planning.

Besides the point of giving an interest free loan, that's money which could be used for something else such as paying down the balance on a credit card, adding to a rainy day fund, put into a retirement account or used for general expenses.

It's your money, why not keep it for yourself?

They also want to sell you financial planning advice. The secret is to just make enough money in the first place. If your tax refund is going to make or break you, a career change may be in order.

 

[Lord Pmann]

For me it's really hard to tell how much I will get back. My deductions fluctuate a lot. I have my normal job, but I also get paid as a musician on the side. If I purchase a $6000 guitar unexpectedly, then my refund will be larger. I don't have withholding on my income from that. So, I would break even if I have no purchases. But, I always find some instrument that catches my eye.

It would be better to not get a refund. However, I would rather get money back than have to pay, even if it is an interest free loan.

 

[Never]

If you get a refund you are doing something wrong.

I get a refund because I don't make enough money. Which is to say that I agree I'm doing something wrong.

 

[Boxlicker101]

Yeah, that forty dollars a week would really make a change in my lifestyle if I didn't let the gubmint keep it, interest free. In fact, I should dedicate that forty bucks in a special savings account where I could probably make ten cents in interest for the year. Maybe twelve.

If course, that ten or twelve cents would be taxable income.

 

[Boxlicker101]

For me it's really hard to tell how much I will get back. My deductions fluctuate a lot. I have my normal job, but I also get paid as a musician on the side. If I purchase a $6000 guitar unexpectedly, then my refund will be larger. I don't have withholding on my income from that. So, I would break even if I have no purchases. But, I always find some instrument that catches my eye.

It would be better to not get a refund. However, I would rather get money back than have to pay, even if it is an interest free loan.

Ideally, you should have enough withheld that you need to pay a couple hundred bucks on April 15. If you have too little withheld, you might get stuck with a penalty.

 

[eyer]

As soon as word reached American shores of the infamous Stamp Act (Duties in American Colonies Act 1765; 5 George III, c. 12 : An act for granting and applying certain stamp duties, and other duties, in the British colonies and plantations in America, towards further defraying the expences of defending, protecting, and securing the same; and for amending such parts of the several acts of parliament relating to the trade and revenues of the said colonies and plantations, as direct the manner of determining and recovering the penalties and forfeitures therein mentioned.), the fuse for the American Revolution was lit...

...Parliament, realizing the severity of what it had done, repealed the Act less than a year after passing it (although to no avail).

One of the great champions of its repeal was William Pitt, whose stirring speech on January 14, 1766 is viewed as greatly influential on the Acts' actual repeal just two months later...

...here's the last three paragraphs from that legendary speech, and I've bolded the last clause of the last line so there's no mistaking that taxation without consent has always been considered, by many great minds, a crime against individual liberty.

The Americans have not acted in all things with prudence and temper. They have been wronged. They have been driven to madness by injustice. Will you punish them for the madness you have occasioned? Rather let prudence and temper come first from this side. I will undertake for America, that she will follow the example. There are two lines in a ballad of Prior's, of a man's behaviour to hsi wife, so applicable to you and your colonies, that I cannot help repeating them:-

"Be to her faults a little blind
Be to her virtues very kind."

Upon the whole, I will beg leave to tell the House what is really my opinion. It is, that the Stamp Act be repealed absolutely, totally, and immediately; that the reason for the repeal should be assigned, because it was founded on an erroneous principle. At the same time, let the sovereign authority of this country over the colonies be asserted in as strong terms as can be devised, and be made to extend every point of legislation whatsoever: that we may bind their trade, confine their manufactures, and exercise every power whatsoever - except that of taking money out of their pockets without their consent.

Individual liberty dictates that consent is, naturally, the sole right of each individual...

...social democracy dictates that every individual's natural right of consent is completely submissive to whatever the majority rules, and that force and punishment is just to make an individual submit to that majority.

Same old tyranny...

...same old rebellion..

BTW:

March 22 marks the 250th anniversary of passage of the Stamp Act.

 

[Lord Pmann]

Ideally, you should have enough withheld that you need to pay a couple hundred bucks on April 15. If you have too little withheld, you might get stuck with a penalty.

I claim zero dependents. I just happen to have a lot of deductions and I itemize everything because I am super cool like that. And sometimes the deductions are surprise deductions. For instance, last year at the end of November I took a business trip that was a $2k deduction, very last minute.

Again, I realize that the smartest thing to do is to break even at the end of the year with taxes. But I would rather get money back than have to pay. I don't have debt in any other manner, so it's not like it's killing me to not have those couple extra hundred bucks a month.

The good news is, I just finished my taxes. 5 hours later and 1 AM, I am done. Now to burn all these receipts.

 

[Never]

Same old tyranny...

...same old rebellion..

BTW:

March 22 marks the 250th anniversary of passage of the Stamp Act.

Do you think taxes should be voluntary?