Tax Season
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Z0SIS (02-10-2018)
#6
Team Owner
Member Since: Mar 2004
Location: Oklahoma City OK
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I'm self employed, I don't get a tax refund.
#7
Le Mans Master
As said above by others...
If you're getting a tax refund of any sizable amount, you're not doing it right.
If you're getting a tax refund of any sizable amount, you're not doing it right.
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Randy_in_MD (02-11-2018)
#11
Le Mans Master
He wasn't able to comprehend that he didn't pay any taxes in the first place, but he and his live in (unemployed) girlfriend and their 6 month old child got him the $6K to which I contributed. Ya gotta just love this country...
So, he did the "responsible" thing and promptly purchased a motorcycle....with the "free money". I usually tip the valets well, but I shorted him that night....tip already given!
Last edited by BlindSpot; 02-08-2018 at 10:55 AM.
#12
Racer
Wish I could get free money but because I choose to be self employed and my wife a nurse we make to much to get free money .
#14
I'm giving mine a nice big principal payment.
#15
Safety Car
I guess someone is a tax expert above. I am doing it right, unfortunately when you get laid off, collect unemployment, invoke the rule of 55 on a 401k plan, get rehired as a contractor and have sizeable investments with some great capital gains posted it is very hard to predict tax liability. Ideally yes, you don't want a refund or you don't want to pay, but the requirement on the rule of 55 is that 20% be withheld, and then that is relative to your income bracket! Now with all of the other BS in this year relative to wages I endured, I had no clue where my tax liability may be until I actually did my return and yes, next year I will make adjustments to offset it. It appears that I will soon have full time employment rather than contractor status soon as well! The upside.....at least with this admin in DC we are making money and jobs are popping up again and it appears wages will start moving up again, something the last 8 years never did for a soul.
Last edited by gliot1; 02-08-2018 at 12:01 PM.
#16
Race Director
No refund here. I owe just a little, but that's ok.
#17
Safety Car
As someone above noted, my gf works with girls who get back $8k or more, making only about $30k. The kids get food, housing, schooling, school lunches, etc. and yet they take vacations nicer than most folks. We should all be PO'ed...real PO'ed at this system, when those of us who work hard, earn and pay taxes have to continually subsidize others and then be told how we are somehow evil because we don't believe taxes should go to non US citizens.....the whole country is upside down these days.
Beyond that, what parts are you buying for those getting refunds?
Beyond that, what parts are you buying for those getting refunds?
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jbc1995fb (02-08-2018)
#19
Safety Car
I hardly ever rant, but I knew this thread was going to turn into a **** storm about who gets a refund, who deserves a refund, if you get a return you're ******* stupid because uncle sam has your money.
if you're not buying anything, STFU. no one asked for your political or financial advice.
ok, rant over.
if you're not buying anything, STFU. no one asked for your political or financial advice.
ok, rant over.
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#20
Instructor
Thread Starter
I should’ve know this thread would take a turn for the worst lol. I didn’t mean to offend anyone or start any lecturing. I was just wondering. I also consider myself pretty fortunate to be a 19 year old with a payed off corvette(no, not by mom and Dad). Not dumb, just a stupid millennial.
Last edited by Chase0808; 02-08-2018 at 03:28 PM.