Tax Returns!
 

Well yeah, weirdly enough at the end of the month I'll be busting ass to get my shit submitted and hopefully get a nice chunk back.

What does everyone have planned for tax returns?

First on my list is some new wheels for the 6 matched some with some 225/40/18.

Either Toyo Proxes T1-R or Yokohama ADVAN Neova AD07 if I dont' look at some Falkens first.

After that it's all about a nice tint job and sirius radio and probably a better set up brake pads for track day use if I race when we head out to Road America.

Re: Tax Returns!
 

Hopefully a down payment on an Evo.

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I would love to say I'm gettin' an evo to, but instead I am getting a house:D . My girl and me will us our tax returns for this.

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Less money in my pocket?

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I'm getting a stamp. Then I'll write out a check and send it to the IRS. That's what I've done for the past 5-6 years. I usually get a little back from the state (like $5-$50) and I usually owe the IRS a little (I think the most was about $150.)

I wouldn't have it any other way either. The way that I see it is that if I'm getting a tax refund, then that's my money that I let the government borrow interest free for the past 12 months. I might as well put it in my own savings account, so at least I can earn a little interest on it.

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I want to buy an MP3 player and hopefully a set of summer wheels for the Evo, then use the rest to pay bills.

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Probably just toss whatever I get back into my savings (probably won't be much since I try and work things out so I am giving the government a free loan). I plan on selling my motorcycle come spring so I may take some of that money to buy new gears for the S2k (4.56 gears for the rear-end).

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Funding a trip to visit my mother and my Grandfather [hes in the states this summer... this only happens about once every 5 years]. Then the rest will go in savings. Which I'm sure will go towards my future bike or school.

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I 100% see where some of you guys like to balance it out and get more money up front, but for the amount it ends up being per check, maybe $60 a check for me, I woudl easily spend that extra $60 a week on something. I'd find a way to spend it or probably gamble it away. :D If I don't do anything for the car with it, then I can toos a larger sum into savings and easily do that.

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Probably going to throw it in savings, then once the car comes back out of storage its getting new lifters, a lip put on and painted as well as some bodywork on the front end, new headlights etc. -Got backed into...

Some CF might be thrown on it.

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Save it, sell the Eclipse.

And then its time for something 10x more expensive.

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Mine is going toward the engine build.

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I don't know, because I am completely clueless as to what I will get back. I was also shown this link for anyone who cares. Go down a few articles until you see the one talking about TAXES...

http://wcco.com/terriblog

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Thats cool, thanks Brandon!

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Thank Beth!

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I still need to send in my MN from last year. The 2 years in a row should be nice :)

Engine rebuild and other junk. Save some for a trip to Costa Rica next year.

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No offense, but are you stupid?

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I'll be paying in for sure.... at least my checks are bigger.

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Some people say so :)

I actually filed all my other taxes online. For some reason, I think, because I had income in two states, I couldn't file my MN taxes. I went back and tried again later, but no luck. I just haven't gotten around to it, but what are they going to do? They owe me money, not the other way around.

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You won't be penalized since they owe you, you just lost out on the time value of money.

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Pretty much what I figured, which is why it doesn't bother me.

Tax returns are just my lazy savings account and ends up being "fun" money. I'll spend it on luxury items whether I get it on time or not. I'm happy either way.

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Wouldn't you like to earn interest on what you've earned though?

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Not this argument again. We had it last year. I claim 0 for a high tax return also. Why? Because I guarantee I would not put that extra $5 into savings. It would end up going to Mr Ronald McDonald more then likely. Come this time, I would have maybe saved $15 of it. That's the simple truth. Instead, they take a little extra out, I never see it, I live without it, then come the end of the year, it's a nice little bonus.

Different strokes for different folks.

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I agree with S2kracka 100%. If you watch your money and budget yourself the little bit extra won't be spent each week and you'll earn some interest. Even if its small its better than letting Uncle Sam make sure you don't earn any return on it.

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^^^What he said.

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So just because you got an extra $5 on your paycheck you'd hit McD's one extra time? Unless someone is living paycheck-to-paycheck and has a serious spending problem then there is no reason to want a large return IMO. To each their own though, not my money.

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What is the stock gearing in an S2k?

I will probably just use my tax returns for bills.

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4.10

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I also dont eff with my taxes too much. As long as I make enough money to do the things I want to do, I'm happy. 10-15% goes to retirement, but other than that im pretty lazy with my money.

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When do they have to be filed by? April? Cause I'm gonna be in boot camp till march.. Well when i get mine back hopefully it will go towards a engine build.

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It was just a figure of speech. Not all of it will go to McDonalds of course. But it will probably get spent, because I will not really notice $5 a paycheck. The responsible thing, would be to do what you said, invest it. But, I'm being honest when I say that $5 would not get invested. It would sit in my checking account probably and go unnoticed, or get spent on something small. Instead, I just choose to claim 0, I don't notice the $5 a paycheck extra they take out. I live off what I make, and by no means live paycheck to paycheck. I live comfortably with what I have, and I invest $50/week currently. I could just claim 1, and start investing $55/week, but I don't. Call me irresponsible or whatever you want. After spending all the money I did over the December Holidays, I enjoy receiving a nice check in the mail a month later.

Again, different strokes for different folks.

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you don't have time to wait for your refund:D

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Depends how much the wife and I get back. All the money is going towards the house.

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Mines going towards a FMIC system for my spyder :D and whatever is left is going to stay in the bank.

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Texas doesn't pay state Taxes.........


FUCK!

Actually it won't be that bad, I was just thinking between state and federal it was going to be more than $300.... Good thing I still have Domino's :) Last year they treated me quite well.

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I'll probably save mine till I get enough for some new rims for the 240. I'm thinking 18x9 front, and 18x10's in the back. just gotta figure out what offest and tire size will fit without rolling fenders and quarters too much.

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That explains a lot actually.

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Im saving mine until spring then putting it all down on my new crotch rocket. I might save some to pay for funeral expenses also.

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I have no idea what mine will be this year. I claimed more because last year I got nearly $1K back from Federal. I really don't want Uncle Sam having my money for a year. The guy who does mine think I'll end up owing, which I hope I don't. I hope I've cut it pretty close.

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What do you mean?

I just got all this tax stuff explained to me last night by Brandon.