Taxes

Shift518 Automotive Shift518 Off Topic
1

Did my taxes today and I had to hold back the tears. My bonus comes after the fiscal year so I only had to ‘claim’ 75% of my salary.

Without further delay:

I paid ~$20K in taxes but received less than $1K back. I OWED NYS.

WTF?

2

I don’t want to talk about it because I’ll just get mad. :headbang

3

things can always be worse…

4

i always owe state :headbang

5

Made 23k, paid like 7k in taxes, got $800 back, and $72 back from state…FUCK

6

agreed

7

owe state $333, got $2800 back from federal… perk of being a homeowner.

8

got 1400 federal and 40 from the state

9

You guys including the huge tax rebate check from GWB? I plan to put that into savings so the plan didn’t work for me…

10

No, not including that…you got yours already? :wtf

And I’m spending the SHIT out of it :nod

11

yea wtf shawn? did you get yours allready? i heard it was just going to be an advance on next years tax returns

12

I’ve gotten mine back already, fuckin got shit…like 300$ :sad and had to pay 100$

13

nope… don’t qualify :frowning:

14

Good point, I guess I could not have enough to pay.

I’ve paid $68k combined(I don’t know the breakdown off the top of my head) and owe an additional $122k combined, selling your business FTL

15

I didn’t get it yet. I believe it comes after you file your taxes.

One note of caution, the economy went to shit under GWB. Trust me when I say that IRS is looking to generate revenue. I’d be concerned about the USE tax too. I put $1000.

16

Why not? I think I got back $505?

17

I haven’t been keeping up to date about the latest extra rebate info, but last I knew if you made over a certain amount last year than you get nada. What are the specs for this rebate?

18

i think if you make under 150k a year, atleast thats what i heard? someone chime in

19

Under the terms of the package, single filers will get a maximum $600 rebate, which will phase out for taxpayers with adjusted gross incomes between $75,000 and $87,000.

Married couples will get a maximum $1,200 rebate, which will phase out between $150,000 and $174,000 in income.

In addition, parents will get $300 for each child.

I’m not sure if this is 100% correct, I think it only includes earned income and is NOT based on AGI.

20

More exceptions:
— An individual with $2,500 in earned income in 2007: Disqualified because income fell below the $3,000 threshold. No rebate.
— A married couple with no children, with adjusted gross income of $100,000 in 2007: Would qualify for the full $1,200 couples. A $1,200 rebate.
— A worker with one child, who earned $9,000 and owed no taxes in 2007: Would qualify for the $300 rebate available to individuals who pay no taxes but earned at least $3,000, plus an additional $300 for the child. A $600 rebate.
— A couple with income of $145,000 in 2007, with three children: Would qualify for the full $1,200 for couples, plus $300 for each child. A $2,100 rebate.
— A couple with income of $160,000 in 2007 with two children: Would qualify for a partial rebate, reduced by 5 percent for every $1,000 in income above the $150,000 threshold. An $1,800 rebate — $1,200 for the couple plus $300 per child — would go down by 50 percent for this family. A $900 rebate.
— A couple with income of $200,000 and four children: Disqualified because their income exceeded $174,000, the phase-out limit. No rebate.
— An individual with adjusted gross income of $23,000 and no dependents: Would get a rebate of $600.
— A couple with adjusted gross income of $160,000 and two children: Would get a rebate of $1,300.
— A couple with adjusted gross income of $184,000 and two children: Would get a $100 rebate.