Massassi Forums Logo

This is the static archive of the Massassi Forums. The forums are closed indefinitely. Thanks for all the memories!

You can also download Super Old Archived Message Boards from when Massassi first started.

"View" counts are as of the day the forums were archived, and will no longer increase.

ForumsDiscussion Forum → The Unofficial 2010 Federal Income Tax Thread
12
The Unofficial 2010 Federal Income Tax Thread
2011-01-30, 11:18 PM #1
So I figured I'd start it. Discuss the amount you paid or the amount the government paid you! Discuss your filing experience or, if you're not a filer, make fun of people that are!

Me? It seems that my taxes keep getting harder. I've filed my own taxes for two decades. I've done pen and paper, store bought software, free internet filers. This year appears to be the hardest. Even using online tax preparation it is still mind numbingly stupid. You would think that my tax situation isn't too complicated. I've work three jobs in '10. I have one retirement income. I cashed in some savings bonds. My wife worked one job. That all entered fairly well. I own (paying for) two houses. I rent one out. I have rental income and expenses for upkeep. For some reason I always have to enter figures from 2003 for the rental and this year it seemed even worse. I spent money on repairs. Or were some of them improvements that I need to depreciate over the years? I drove one of my personal vehicles over 1300 miles and have lodging expenses for when I went to complete upkeep and repairs but, it seems, that I have to have some portion of the vehicle business related and then continue to track that when I sell it. Blah, blah, blah.

It's absolutely asinine.

I've never like the idea of a flat tax but I sure prefer it to this garbage. I can't remember, was one of Obama's promises that he was going to simplify the tax code? Not that I believed any of the ones he never intended to keep but they seem worse than ever this year.

I really wish they would go to the Fair Tax. It'll never happen. Half of the "tax payers" get it all back or more and I'd be willing to bet that a good chunk of the other half thinks the government is giving them money when they get a refund.

Oh well, still have to enter the tax information for my residence and then I'll see if I feel like digging deeper into the rental. Oh, joy, then I can start working on state. Normally I don't have much to worry about but as of November I became a resident of a state with an income tax.
"I would rather claim to be an uneducated man than be mal-educated and claim to be otherwise." - Wookie 03:16

2011-01-31, 12:42 AM #2
I got $1680 back..$400 of which was some sort of credit. Yay for Turbotax.com. :P
woot!
2011-01-31, 12:44 AM #3
7.2k. Yay for being poor and having kids:D
obviously you've never been able to harness the power of cleavage...

maeve
2011-01-31, 3:08 AM #4
Originally posted by Outlaw Torn:
7.2k. Yay for being poor and having kids:D


Jeez, I didn't even pay that much in! :P
woot!
2011-01-31, 4:04 AM #5
I paid over $400 :(
$do || ! $do ; try
try: command not found
Ye Olde Galactic Empire Mission Editor (X-wing, TIE, XvT/BoP, XWA)
2011-01-31, 4:17 AM #6
Gonna work on it next month. Hopefully it won't be a huge problem.
Probably gonna spend that money on... oh... I dunno, maybe to chip in on fixing my mother's bathroom, or to buy some new ram, or maybe just spend it on toys.

-Of course, it all depends on how much I get in my refund. Probably not much. I don't see anything over $160 coming my way.
2011-01-31, 5:29 AM #7
I usually use Turbotax. Hoping this year will be easier since I haven't changed employers or banks or such.

Just a month back though I got a letter from the IRS about an investment account I had completely forgotten about and thus forgotten to claim, so I owed them like 400$ for it [I only got about 100$ back from them last year..]. It's been long gone since the last time I filed, but still want to wait until I'm sure I have everything prepared before I file.

The only thing I need to figure out is how to deal with a surname change later this month but before my filing is due. Do I file using my new surname, or go with the one on the W2s and such?
Also, I can kill you with my brain.
2011-01-31, 5:56 AM #8
Just like the past few years, I will likely pay and owe nothing.
2011-01-31, 5:58 AM #9
I don't pay tax. ^_^
nope.
2011-01-31, 5:59 AM #10
The Glorious Commublic of Finland gave me back 900 euros last year! Hot damn in the zang!
Star Wars: TODOA | DXN - Deus Ex: Nihilum
2011-01-31, 6:28 AM #11
Nothing this year since I mad no money last year!
"His Will Was Set, And Only Death Would Break It"

"None knows what the new day shall bring him"
2011-01-31, 6:35 AM #12
I only worked like 8 months of last year so I think I paid in about $3000, federal and state.
"Nulla tenaci invia est via"
2011-01-31, 6:58 AM #13
I try to break as close to even as I can. My IRA made me get $450 back though.
2011-01-31, 7:22 AM #14
We apparently can't e-file our taxes until Feb 15 because congress waited too long to re-pass the state tax deduction again.
2011-01-31, 8:21 AM #15
I haven't filed yet. I'm still waiting on some contribution reports from some charities I to which I donate.

I bought a house in 2010, so I should get everything back. For 2011, I am adjusting my withholdings so I (hopefully) don't pay or owe anything. The extra cash I see in my paycheck each month will be deposited to an investment account I have set up. I earned 14% last year, hopefully that will be repeated.

If I do owe anything next year, I will pay from that account. I shouldn't have to touch my checking or savings. Everything my wife earns will also go into that account. In a couple of years, I hope to buy two or three more houses.
2011-01-31, 8:23 AM #16
$3,260 from federal and state!
TAKES HINTS JUST FINE, STILL DOESN'T CARE
2011-01-31, 8:25 AM #17
worst year for tax refunds for me so far

getting $271 from federal and.....

a whole dollar from state

[edit] just checked my bank account and the tax refund has been deposited[/edit]
eat right, exercise, die anyway
2011-01-31, 9:17 AM #18
I hate you all... Will likely owe around 800 -1000$ my wife and I make a decent amount of money but we live in orange county so it doesn't do us a lot of good as the cost of living is quite high, we also have no deductions that we can claim. I would really like if the government could actually just say 'oh, you make this much. We need to take x amount out of that.' and just be done with it. As it is I am having to elect to keep extra withholding from each check so maybe, MAYBE we can break even.
Welcome to the douchebag club. We'd give you some cookies, but some douche ate all of them. -Rob
2011-01-31, 9:21 AM #19
1115 back. Not bad, considering that only about 1300 went in. Not counting SS or medicare of course.

o.0
2011-01-31, 9:55 AM #20
The more complicated taxes get, the more jorbs we can create in the IRS!
"it is time to get a credit card to complete my financial independance" — Tibby, Aug. 2009
2011-02-04, 3:46 PM #21
How stupid is it that even though we only cover 67% of our federal budget with taxes and 46 states have budget shortfalls (some really serious), you can still receive more back in refunds than you paid in the first place?
It took a while for you to find me; I was hiding in the lime tree.
2011-02-04, 4:01 PM #22
Originally posted by UltimatePotato:
How stupid is it that even though we only cover 67% of our federal budget with taxes and 46 states have budget shortfalls (some really serious), you can still receive more back in refunds than you paid in the first place?


I don't. :(

But yeah, I agree.
woot!
2011-02-04, 4:07 PM #23
Waiting for The Official Federal Income Tax Thread, this one is a sham!



My federal and state refunds have already been deposited, I got ~$1,000 back.
"Honey, you got real ugly."
2011-02-04, 4:15 PM #24
We're unable to file until we receive our newborn baby's social security number (we're also waiting on the birth certificate so that we can get her passport). She was born in December & they've been very slow to process her (the hospital is partly to blame because they apparently hold on to the paperwork for up to 30 days before mailing it). I was also unemployed for several months of this year & received unemployment benefits so that'll be something new for me. I'll be using TaxAct as usual.
? :)
2011-02-04, 4:19 PM #25
About 1.2k back surprisingly from the feds. However, the amount I have to pay back to Maryland is ridiculous, about 4.6k.
2011-02-04, 8:27 PM #26
I haven't gotten my tax forms yet. Although California, you have to file online.
Code to the left of him, code to the right of him, code in front of him compil'd and thundered. Programm'd at with shot and $SHELL. Boldly he typed and well. Into the jaws of C. Into the mouth of PERL. Debug'd the 0x258.
2011-02-04, 10:38 PM #27
I just read up on this "Fair Tax" and it sounds like the worst idea I have ever heard, it would hurt the poor like hell and the rich would give no ****s.
2011-02-05, 1:00 AM #28
Sounds like you didn't read up on it too much.
"I would rather claim to be an uneducated man than be mal-educated and claim to be otherwise." - Wookie 03:16

2011-02-05, 1:23 AM #29
Originally posted by Tibby:
I just read up on this "Fair Tax" and it sounds like the worst idea I have ever heard, it would hurt the poor like hell and the rich would give no ****s.


So you think the better alternative is to take the people who make more and tax them at a far higher rate, and then give money to those who don't pay taxes anyway?
woot!
2011-02-05, 1:47 AM #30
Yes. Everyone that doesn't have false hopes of upward mobility probably does.
? :)
2011-02-05, 10:19 AM #31
I did it pretty much perfectly this year as far as federal goes. I'm single and claim two on my W4s. I owed 48 dollars before the Making Work Pay credit. So I got back $352 from Federal. State was a different story. The Minnesota government loves the way I itemize it seems, and paid me back nearly $800 :huh:
-=I'm the wang of this here site, and it's HUGE! So just imagine how big I am.=-
1337Yectiwan
The OSC Empire
10 of 14 -- 27 Lives On
2011-02-05, 9:50 PM #32
I just told them I gave 10^15 dollars to charity.
2011-02-06, 12:09 AM #33
I have yet to file. I expect maybe $300 back. What are you doing that you actually have to pay?
error; function{getsig} returns 'null'
2011-02-06, 1:15 AM #34
Correct me if I am wrong, but isn't getting more money for your return a BAD thing? Doesn't that mean you've been getting raped throughout the year by the govt more then you needed to? Hell I was raised to do my taxes so that when I get my return everything balances itself out.
2011-02-06, 1:32 AM #35
Originally posted by x25064:
Correct me if I am wrong, but isn't getting more money for your return a BAD thing? Doesn't that mean you've been getting raped throughout the year by the govt more then you needed to? Hell I was raised to do my taxes so that when I get my return everything balances itself out.


Yes and no. Some filers receive even more money back than is withheld. This also means that some filers actually have no money withheld and receive a "return". This is due to things such as the Earned Income Tax Credit. Many of these credits can actually reduce tax liabilities below zero meaning that certain tax "payers" actually make money when they file.

Disregarding these gimmicky credits it is best to receive no return or pay, from a financial perspective. Overpaying throughout the year is the equivalent of giving the government an interest free loan when that money could be used by the tax payer to, for example, pay down debt and, therefore, save money in interest or invest and, therefore, earn money in interest.
"I would rather claim to be an uneducated man than be mal-educated and claim to be otherwise." - Wookie 03:16

2011-03-25, 11:58 PM #36
Finally got around to filing. Any other late-ish filers out there?
"I would rather claim to be an uneducated man than be mal-educated and claim to be otherwise." - Wookie 03:16

2011-03-26, 12:59 AM #37
Originally posted by Tibby:
I just read up on this "Fair Tax" and it sounds like the worst idea I have ever heard, it would hurt the poor like hell and the rich would give no ****s.


The "Fair Tax" is ****ing retarded. It's one of the worst ideas anyone has ever had.
If you think the waiters are rude, you should see the manager.
2011-03-26, 3:10 AM #38
I ended up getting back around $3k from federal & paying $700 in state.
? :)
2011-03-26, 5:55 AM #39
I ended up owing $600. Apparently, my scholarship money now counts as income.
:suicide:
It took a while for you to find me; I was hiding in the lime tree.
2011-03-26, 6:29 AM #40
I just filed also. Got like 30 bucks state and 400 federal.
Also, I can kill you with my brain.
12

↑ Up to the top!