so its nearing tax return time again....
Jan 29, 2011, 06:39 AM
#17
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i have pretty much the same mods(TBE, intake, tune) and with my return Ill be getting UR upper IC pipe, Tein springs and alignment, and tints. all under$600, so the rest of my money that I get will sit nice and pretty in my account!!
Whats a Tax Return. I'm usually lucky to get 20 bucks
Feb 1, 2011, 07:13 AM
#23
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Feb 1, 2011, 01:48 PM
#25
If you're being refunded (or having to pay) more than half a regular paycheck (40 hours) - you're doing it wrong.
All things being equal, it's better to owe than get a refund. If you're having trouble saving and (for the love of Pete!) using the tax "refund" as a way to set money aside - seek help from a financial advisor.
Anyone may arrange his affairs so that his taxes shall be as low as possible; he is not bound to choose that pattern which best pays the treasury. There is not even a patriotic duty to increase one's taxes. Over and over again the Courts have said that there is nothing sinister in so arranging affairs as to keep taxes as low as possible. Everyone does it, rich and poor alike and all do right, for nobody owes any public duty to pay more than the law demands. - Judge Learned Hand (US District Court)
All things being equal, it's better to owe than get a refund. If you're having trouble saving and (for the love of Pete!) using the tax "refund" as a way to set money aside - seek help from a financial advisor.
Anyone may arrange his affairs so that his taxes shall be as low as possible; he is not bound to choose that pattern which best pays the treasury. There is not even a patriotic duty to increase one's taxes. Over and over again the Courts have said that there is nothing sinister in so arranging affairs as to keep taxes as low as possible. Everyone does it, rich and poor alike and all do right, for nobody owes any public duty to pay more than the law demands. - Judge Learned Hand (US District Court)
Negligence
The IRS will assess a penalty of 20 percent of your overdue tax liability if you underestimate what you owe as a result of negligence or blatant disregard of IRS tax regulations, or if you significantly understate the amount of tax due (by at least 10 percent, or at least $5,000, whichever is less). This penalty is not designed to punish taxpayers for making understandable errors but to discourage blatant disregard or carelessness.
The IRS will assess a penalty of 20 percent of your overdue tax liability if you underestimate what you owe as a result of negligence or blatant disregard of IRS tax regulations, or if you significantly understate the amount of tax due (by at least 10 percent, or at least $5,000, whichever is less). This penalty is not designed to punish taxpayers for making understandable errors but to discourage blatant disregard or carelessness.
I believe there is also a penalty for underpaying too many years in a row.
Feb 2, 2011, 09:33 PM
#26
Feb 3, 2011, 01:01 PM
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sheet.... im using half of my return to pay some of my credit card debt... then im buying swift springs...
i was gonna get some rotas, but with the way things are in the casino business and the economy i gotta save the rest! lol
i was gonna get some rotas, but with the way things are in the casino business and the economy i gotta save the rest! lol
Feb 4, 2011, 02:28 AM
#29
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I'm combining mine with a portion of my savings and buying a R-6.
OP- I say get your trans, tcase, and diff fluids changed if you haven't already and put that money aside for if a clutch or something else goes bad.
OP- I say get your trans, tcase, and diff fluids changed if you haven't already and put that money aside for if a clutch or something else goes bad.
Feb 4, 2011, 08:00 AM
#30
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Paying my insurance deductible after a dumb 18 year old girl in a Hummer came into my lane during a left turn and dented my quarter panel. It's my word against her's and both her parents are police and she was Miss Teen USA for our state last year so I'm not holding my breath for getting her insurance to pay.