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Faith, Hope, and Love > Hang out! > Taxes



Title: Taxes


Keneke - February 9, 2008 04:01 AM (GMT)
are finished and have been e-filed. Now I wait for our refund :tease: :booyah: :thanks: :stars:
Anyone else all done?

Sarah - February 9, 2008 04:18 AM (GMT)
I'm still working on the year 2006...

andiesmama - February 9, 2008 12:44 PM (GMT)
I'm going with dad to his CPA to have ours done. What with actually getting a 1099 from ChaCha this year & all that I want to be sure I'm doing it right as far as working from home AND writing off as much as I can, you know?

Oh, and did you hear that the money we're getting from the government is going to be deducted from your refund NEXT year? I was hoping it wouldn't be that way...... :bored:

sf49erfan - February 9, 2008 05:01 PM (GMT)
QUOTE (andiesmama @ Feb 9 2008, 08:44 AM)
Oh, and did you hear that the money we're getting from the government is going to be deducted from your refund NEXT year?  I was hoping it wouldn't be that way...... :bored:

I hadn't heard that, but it makes sense. They give it to you mid-year in hopes that you will spend it and boost the profits of business, thereby making it possible for them to hire new workers (or increase the salaries of those they already have).

I understand what you are saying though, but the government can't just give away free money. If they gave the money away it would have to be taken out of some part of the budget and then taxes would be higher next year to make up for the deficit.

Keneke - February 9, 2008 05:59 PM (GMT)
Everyone thinks this refund is great but we get taxed on it next year like income. :violin: Bleh...

With all of DH's stuff at work we've always used a CPA... The IRS did an audit on us once and it was nice to have a CPA to back us up... :whistle:

hope4today - February 10, 2008 01:30 AM (GMT)
QUOTE (Keneke @ Feb 9 2008, 12:59 PM)
Everyone thinks this refund is great but we get taxed on it next year like income. :violin: Bleh...

With all of DH's stuff at work we've always used a CPA... The IRS did an audit on us once and it was nice to have a CPA to back us up... :whistle:

I don't get it... Are you talking about them taxing a 'gift' of money they are giving you OR are you talking about them taxing a refund? Isn't a refund just a repayment from the government for taxes you overpaid them . In that sense a refund is not income so how can it be taxed?


andiesmama - February 10, 2008 02:30 AM (GMT)
QUOTE (Keneke @ Feb 9 2008, 12:59 PM)
Everyone thinks this refund is great but we get taxed on it next year like income. :violin: Bleh...

With all of DH's stuff at work we've always used a CPA... The IRS did an audit on us once and it was nice to have a CPA to back us up... :whistle:

We get taxed on it AND they deduct it from our refund next year? I say just keep mine then....

It's my first time using a CPA.......kind of excited! B)

Does Ty need to be there? I'm kind of nervous.......I mean excited........ :unsure:

Keneke - February 10, 2008 03:21 AM (GMT)
I hadn't heard of it being deducted from our refund next year...I just know it gets taxed...at least I think it does :P
We aren't present while our CPA does ours. We drop it off at his house and then he calls us when he's done and usually just mails everything to us. My parents use a different guy and they just drop it off at his office. He calls them when it's ready. You might wanna ask your CPA.. :dunno:

squatpuke - February 10, 2008 04:29 AM (GMT)
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Just wondering how much you hippies pay for your CPA....I think mine charges too much.

Keneke - February 10, 2008 04:44 AM (GMT)
Depends on how much is involved. When DH had stocks, options etc, we paid more.

squatpuke - February 10, 2008 05:40 PM (GMT)
QUOTE (Keneke @ Feb 9 2008, 09:44 PM)
Depends on how much is involved. When DH had stocks, options etc, we paid more.

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Duh.....put what AMOUNT was it?

Keneke - February 11, 2008 05:07 AM (GMT)
DUH you!

I'll PM you. :burp:

andiesmama - February 11, 2008 11:46 AM (GMT)
Dad said it'll be like $150 or so for ours, probably. But then, ours is pretty straight-forward.

Stringaling - February 11, 2008 04:13 PM (GMT)
Taxes were done and used already! However, I haven't filed state taxes yet, but they are mostly done. We owe the state of Oklahoma $12...

squatpuke - February 11, 2008 08:27 PM (GMT)
QUOTE (Stringaling @ Feb 11 2008, 09:13 AM)
Taxes were done and used already! However, I haven't filed state taxes yet, but they are mostly done. We owe the state of Oklahoma $12...

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Nice...that's the way to do it...

I always overestimate so I don't have to pay...but I hate giving Uncle Sam an interest-free loan.

Keneke - February 11, 2008 10:13 PM (GMT)
QUOTE (squatpuke @ Feb 11 2008, 02:27 PM)
QUOTE (Stringaling @ Feb 11 2008, 09:13 AM)
Taxes were done and used already!  However, I haven't filed state taxes yet, but they are mostly done.  We owe the state of Oklahoma $12...

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Nice...that's the way to do it...

I always overestimate so I don't have to pay...but I hate giving Uncle Sam an interest-free loan.

We keep giving the gov. and interest free loan :doh: Since DH gets commission and it varies each month it's hard to figure out what the w/holdings should be... :rollseyes:

Stringaling - February 11, 2008 11:18 PM (GMT)
QUOTE (Keneke @ Feb 11 2008, 05:13 PM)

We keep giving the gov. and interest free loan :doh:  Since DH gets commission and it varies each month it's hard to figure out what the w/holdings should be... :rollseyes:



ahhh...That a tribute to A2J? B)

Keneke - February 12, 2008 02:23 AM (GMT)
QUOTE (Stringaling @ Feb 11 2008, 05:18 PM)
QUOTE (Keneke @ Feb 11 2008, 05:13 PM)

We keep giving the gov. and interest free loan :doh:  Since DH gets commission and it varies each month it's hard to figure out what the w/holdings should be... :rollseyes:



ahhh...That a tribute to A2J? B)

yep. I figured that's one way to make him happy... :whistle:

Keneke - February 22, 2008 04:08 AM (GMT)
Both refunds have been deposited :thanks: :thanks: :stars:

rasplundjr - February 22, 2008 04:16 PM (GMT)
I have people.... Yes I use HR Block.... because come tax time we usually need the money three days ago....

Done Received and almost all spent... I pay in 2 states, I live in IN, but work in IL Luckily I get almost all the IL back and it's more than I owe for IN, becasue they never get the IN right... dumb bastards.....


And little Sera did her part... Got me almost an extra 2 grand I think....

andiesmama - February 22, 2008 04:22 PM (GMT)
QUOTE (rasplundjr @ Feb 22 2008, 11:16 AM)
And little Sera did her part... Got me almost an extra 2 grand I think....

Gotta LOVE that! :thumbsup:

squatpuke - February 22, 2008 06:20 PM (GMT)
QUOTE (rasplundjr @ Feb 22 2008, 09:16 AM)
And little Sera did her part... Got me almost an extra 2 grand I think....

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I love my 3 kids.....

squatpuke - April 16, 2008 03:46 PM (GMT)
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Got our taxes in by deadline...

Only gettin' 5K back from feds....3 Benjamins from State...

Plus we're gettin' about $1500 back from those forthcoming "rebates"....

Sweet thing is, I only paid $1600 outta my check which of course I'm gettin' all back...


I love my 3 kids....

Keneke - April 16, 2008 04:27 PM (GMT)
Found out that we will NOT be paying taxes on the rebate checks :D

Sarah - April 16, 2008 04:32 PM (GMT)
QUOTE (Keneke @ Apr 16 2008, 11:27 AM)
Found out that we will NOT be paying taxes on the rebate checks :D

Where'd you get that info?

Honey - April 16, 2008 04:58 PM (GMT)
We've already gotten our 6 grand back and nearly almost all spent. Well, spoken for....B)

Keneke - April 16, 2008 05:03 PM (GMT)
QUOTE (Sarah @ Apr 16 2008, 10:32 AM)
QUOTE (Keneke @ Apr 16 2008, 11:27 AM)
Found out that we will NOT be paying taxes on the rebate checks :D

Where'd you get that info?

It was on the morning news but I did find this.

andiesmama - April 17, 2008 02:39 AM (GMT)
FABULOUS news!! :stars:

Stringaling - April 17, 2008 03:07 PM (GMT)
QUOTE (squatpuke @ Apr 16 2008, 10:46 AM)

Sweet thing is, I only paid $1600 outta my check which of course I'm gettin' all back...


I love my 3 kids....

I know what you mean! :thumbsup:




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