GenVibe - Community for Pontiac Vibe Enthusiasts

Anybody else waiting on their $$$? I've got $5 large comin'...and it's been burning a hole in my pocket for awhile now.BTW: No, I will not be putting it down on a new car (though I really do like the new Sonata SE).

OH NO you're not!! Ours won't start coming out 'til JULY (thanks, governator!) and I filed my taxes IN JANUARY!!! I need new tires all around!! I'm trying not to go too far, hoping these last 'til then...

Did my taxes 2 weeks ago; State arrived yesterday and waiting on Federal.

What is this "refund" of which you speak?

Quote, originally posted by ponta2147 »What is this "refund" of which you speak? Guess you made too much last year.

Quote, originally posted by ponta2147 »What is this "refund" of which you speak? hahahahahaahah!!!!! i was just about to say...i did my own taxes last 4 years. got money back. then this year, did exactly the same thing, THIS YEAR I 0WE!!!! did my taxes 3 weeks ago. but since i'm not getting anything back, i'll wait til the 14th.refund shmeefund.

Quote, originally posted by ramenboy... »hahahahahaahah!!!!! i was just about to say...i did my own taxes last 4 years. got money back. then this year, did exactly the same thing, THIS YEAR I 0WE!!!! did my taxes 3 weeks ago. but since i'm not getting anything back, i'll wait til the 14th.refund shmeefund. Yeah, for me being self employed means... no withholding... so I have to actually write my own checks to the government four times a year... even only making a "low" salary would still be thousands of dollars in taxes. SO painful! Got a good CPA that gets me all my proper deductions but STILL!I keep saying that if you got rid of withholding and everyone had to do what I do (write their own tax checks themselves) you'd see a lot of people suddenly interested in cutting spending and tax reform... lol...

Quote, originally posted by ponta2147 »What is this "refund" of which you speak? x2

I never get a refund because I have only a small amount withheld. Seems kind of goofy to make a $5,000 loan to Uncle Sam for a year at ZERO interest. I prefer to owe Uncle Sam on April 15, that way I got to borrow the money interest free!If anyone wants to hand out interest free loans, I'll take it. You can just send me an extra $96 every week and next January I will return your $5,000. Meanwhile, of course, I will be collecting interest on it.

That's why it pays to do your taxes early. I got my money back in February

Quote, originally posted by beemerphile1 »I never get a refund because I have only a small amount withheld. Seems kind of goofy to make a $5,000 loan to Uncle Sam for a year at ZERO interest. I prefer to owe Uncle Sam on April 15, that way I got to borrow the money interest free!If anyone wants to hand out interest free loans, I'll take it. You can just send me an extra $96 every week and next January I will return your $5,000. Meanwhile, of course, I will be collecting interest on it.

Just filed mine yesterday,got the accepted e-MAILMy digital dash in the 85 has been acting up for a few years now,may redo it with new gauges.Been window shoppen on various gauge sites.

"Seems kind of goofy to make a $5,000 loan to Uncle Sam for a year at ZERO interest."Ah...it's a little more complicated than that.I have an S-Corp and a large part of my refund are business deductions and equipment write-offs/depreciation that can't necessarily be planned for in advance (especially in this current economic environment). Plus, even if I could accurately plan throughout the year what my deductions should be (which is impossible w/my sort of business), I wouldn't garner much interest anyway as I would probably keep those funds "fluid," meaning 3-month money market accounts which earn zilch these days.So, my "overpayment" is effectively a "rainy day fund" for which I may be losing a quarter point of interest on...not exactly something to write home about. Plus, had I spent that money throughout the year, I probably wouldn't even remember much of what I bought (unlike now, where I have a nice chunk-of-change to play with)...However, I did spend some of it last night (I scored a "Bag of Crap" on Woot!); $8 down the drain!

idk if mine are done yet, they were suppose to go to a cpa as I dont have time... but I never assume I get money back, I try to break even.

Quote, originally posted by Cougar Vibe »"Seems kind of goofy to make a $5,000 loan to Uncle Sam for a year at ZERO interest."Ah...it's a little more complicated than that.I have an S-Corp and a large part of my refund are business deductions and equipment write-offs/depreciation that can't necessarily be planned for in advance (especially in this current economic environment). Plus, even if I could accurately plan throughout the year what my deductions should be (which is impossible w/my sort of business), I wouldn't garner much interest anyway as I would probably keep those funds "fluid," meaning 3-month money market accounts which earn zilch these days.So, my "overpayment" is effectively a "rainy day fund" for which I may be losing a quarter point of interest on...not exactly something to write home about. Plus, had I spent that money throughout the year, I probably wouldn't even remember much of what I bought (unlike now, where I have a nice chunk-of-change to play with)...However, I did spend some of it last night (I scored a "Bag of Crap" on Woot!); $8 down the drain!Oh man, S-Corp. We decided to go the LLC-as-Partnership route because we didn't want to deal with all those complicated financial and legal things that are involved with an S-Corp. Totally makes sense, then! I'm sure we will also at some point have overpayments, just because you don't want to get the penalties for underpayments. I was lucky this year that it was my first year of operating the business, so we didn't have underpayment penalties (had to pay a whole lot for the fourth estimated tax payment though).

Quote, originally posted by beemerphile1 »I never get a refund because I have only a small amount withheld. Seems kind of goofy to make a $5,000 loan to Uncle Sam for a year at ZERO interest. I prefer to owe Uncle Sam on April 15, that way I got to borrow the money interest free!If anyone wants to hand out interest free loans, I'll take it. You can just send me an extra $96 every week and next January I will return your $5,000. Meanwhile, of course, I will be collecting interest on it.And with savings accounts running about 0.5% that would get you about $20 max. And you would have to pay tax on that so the net might be $15. [avg of 2,500 x .005 for a year plus $5,000 @ 0.005 apr for 3.5 months]

Quote, originally posted by ou.grizzly »Did my taxes 2 weeks ago; State arrived yesterday and waiting on Federal. That's strange...I did my taxes 1/27 and the federal was in my account on 2/6. But there's like a cutoff date-when you file determines which batch of refunds yours will get sent from.

probably not. I have to file an extension for our taxes. Still working on the biz taxes before we can file them. And we should get some money back from the hit we took for 2009.

just got a check for $1700 cnd last week