What are you buying with your tax refund

[goldengooner]

my buddy has one of those TT Porches,he spent close to 200Gs for it
lots of fun ,lots of power...can almost hang w my whippled GT..

Tax time for me was a check to uncle sam..... as a small biz owner
our govt is a high tax job wrecking machine
Fed tax,State tax,city tax,unemployment tax,franchise tax
,sales tax,inventory,property,tax on interest,and then you have for some
Obamcare..the biggest POS ever invented

...I could go on and on
I think the average small biz that makes money pays close to 50% taxes

rant over.........

What is a Tax refund? we don't have this in the UK, all our Taxes go to the MPs to make them richer :rant:
Obamcare, I take it you are not a fan,hink it might to be like our NHS, which you pay money to out of the taxes, so its free medical care and vists to the doctor.
I remember once in Hollywood, we saw this man run out infront of a car, the ambulance turns up, he was not badly hurt, they ask him some questions, than leave him at the side of the road bleeding!! mind you was a few years back now
I suppose its like overhere a lot of honest people pay their taxes, than the system gets abused by the tax dodgers amd scam artists, and now the NHS is in a very bad way.

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[Kellys69z]

I don't know maybe a coke if I deposit it.

 

[PJR202]

Paid off a large basement remodel and new mattress. Exciting! Now some new floors to pay off next spring!

 

[RocketGuy3]

my buddy has one of those TT Porches,he spent close to 200Gs for it
lots of fun ,lots of power...can almost hang w my whippled GT..

Tax time for me was a check to uncle sam..... as a small biz owner
our govt is a high tax job wrecking machine
Fed tax,State tax,city tax,unemployment tax,franchise tax
,sales tax,inventory,property,tax on interest,and then you have for some
Obamcare..the biggest POS ever invented

...I could go on and on
I think the average small biz that makes money pays close to 50% taxes

rant over.........

This one would be right around 100K after taxes and whatnot, and it's not a TT (Cayman GT4). But yeah, in terms of raw speed, the Mustang will have more potential for the money, but I think this is going to be a damn fun car at the track.

 

[machsmith]

Overpaid by 20k but that went into paying 1st quarter 2016 taxes and then paid estimated taxes of 30k on top of that for quarter 1.
Quarter 2 is coming up soon and another 50k will be dropped. The small business owner does get smacked but i make a good living so can't really complain. Been in business for 15 years coming up in Sept.
Wasn't a smooth road...especially the first 7 years, but all the hard work paid off eventually.
Toward end of the year, depending on the news i may get another R or just build up a good amount in the toy account for something else.

 

[SR56]

I don't get refunds since I plan my withholding for max paychecks, but with my bonus...

Corsa Sport cat-backs
BBK 1 3/4 long tube headers / catted mid-pipe
Steeda CAI / tune
Steeda suspension & springs
Steeda Tri-Ax
Formula 1 Pinnacle tint
MMD rear window louvers
CJ Pony Parts black out emblem kit

Most of it is in hand already and waiting for install. If the GT 350 intake gets tuned right, that'll join the wish list.

I knew buying this car was going to be bad for me. Lol

 

[SR56]

Why would you give the government an interest free loan? I suggest those getting a return get a CPA and increase your monthly income by not letting the libs get a hold of your hard earned money. Haven't had an income tax return in 10 years but I'm not mad about it

I maxed out my 401k and update my withholding every year based on what I owe or get back. Just divide the over/under by my pay periods and add or subtract the amount to give to my HR. Works out great and I don't mind a small bill knowing I'm putting away and taking home as much as possible.

 

[Buzzard Bait]

I don't know maybe a coke if I deposit it.

LOL...that looks a lot like my state return of $3.00. And a whooping $109 for federal...sigh. But at least the welfare crowd and illegal aliens are being well taken care of. :frusty:

 

[Kellys69z]

LOL...that looks a lot like my state return of $3.00. And a whooping $109 for federal...sigh. But at least the welfare crowd and illegal aliens are being well taken care of. :frusty:

True. I don't like giving an interest free loan, and try to break even every year.

 

[Hack]

True. I don't like giving an interest free loan, and try to break even every year.

I know the whole, "giving the government a loan" thing sounds good, but everything the government works from is basically funny money. They need more, they print more. They have no spending limits.

I bought a GT350 track pack spoiler.

 

[SR56]

I know the whole, "giving the government a loan" thing sounds good, but everything the government works from is basically funny money. They need more, they print more. They have no spending limits.

I bought a GT350 track pack spoiler.

Doesn't change the fact that keeping as much of your money as possible though the year and making it work for you is better than playing the refund game. More money in the check means you buy that spoiler way before waiting for Uncle Sam to send you your own hard earned money back.

 

[Buzzard Bait]

True. I don't like giving an interest free loan, and try to break even every year.

Me too. Get as close to zero as possible. That way I can waste my money throughout the year instead of the government.

 

[machsmith]

Me too. Get as close to zero as possible. That way I can waste my money throughout the year instead of the government.

Its easy to do when you draw a paycheck, only if your working odd, varying overtime or losing hrs, would it be semi difficult to get close.

When your a business owner, you have to estimate, as you never know whats gonna walk thru the door.
Wish it were that easy though. I usually pay what I think I'll be off on the quarterly payments, but this year was different, I built a new shop and had some issues with a builder, so that was substantial tax write off that came at the end of the year.
I agree fully though, always try to get your taxes as close to possible so the gov isn't getting EXTRA
I'd like to be in the $1. range, but ain't happening here.

 

[David@Steeda]

I don't get refunds since I plan my withholding for max paychecks, but with my bonus...

Corsa Sport cat-backs
BBK 1 3/4 long tube headers / catted mid-pipe
Steeda CAI / tune
Steeda suspension & springs
Steeda Tri-Ax
Formula 1 Pinnacle tint
MMD rear window louvers
CJ Pony Parts black out emblem kit

Most of it is in hand already and waiting for install. If the GT 350 intake gets tuned right, that'll join the wish list.

I knew buying this car was going to be bad for me. Lol

:cheers:

 

[FlatRock]

Tax refund? Have not had one of those in 16 years. Too busy getting my middle class wallet picked over. To those who get them, kudos and spend it on something fun.

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