Income Tax Return time!

[iag48st]

Speaking of this, today I got my tax form from my employer: $79,1xx for 2013. By my calculations I will have to pay around 15k

I need to work less.

[reeves]

I'm getting $1.2K back from uncle sam this year

[Vincenttam]

Originally Posted by eddieEndo

20k every 6 months here

yup, and i think average tip rate in chicago is 20%

[gily25]

I remember those days...sadly these days they taketh from me and giveth to you...lol.

Think I'm going to pick up a new shift knob for Spring though, regardless of return. Considering a Perrin exhaust (just have tips now) for Summer.

[Prog]

Originally Posted by hur1ey02

You guys realize you can elect to have additional FWT or SWT held from your pay to help that, right?

Why would you ever do that? You're essentially just giving an interest free loan to the government, while at the same time the value of that money decreases due to inflation. If you need additional money held from your pay, then take the money from your pay and put it into your savings account.

[hur1ey02]

Originally Posted by Prog

Why would you ever do that? You're essentially just giving an interest free loan to the government, while at the same time the value of that money decreases due to inflation. If you need additional money held from your pay, then take the money from your pay and put it into your savings account.

You typically have to pay a penalty for taking "too little" taxes from your wages. I've paid it before due to a bonus throwing me into a higher bracket.

http://www.irs.gov/taxtopics/tc306.html

Might be overlooked in most cases, but the kicker is if an audit on a past return occurs and this was overlooked.. penalties and interest. (x however many years that it has been)

[AllStar0419]

back on topic! lol I definitely plan on getting a front pipe. Can't decide whether to complete my exhaust with a ft86spedfactory catted uel and an overpipe or get coilovers first.

[Trashed675]

Originally Posted by humfrz

Well, Dingle049, I can't help you out. I pay my taxes quarterly and never seem to pay quite enough ....

Now, tell us how much you expect to get back on your return, after you get your 86, and we will advise you on how you can best spend it ....

Same boat as you. I get quarterly dividends on some investments so I have to pay out the ass for taxes....I've never gotten a refund, always have to pay a few grand to the man.

[brzadrian]

NEW SHIFT KNOB WOO! i got a flossy shorty redhead
i owe alot of money....

[EastBayCanuck]

Originally Posted by Herndon

If i get anything back wether it's $50 or $2000, it'll be going towards downpayment on a BRZ

but are you claiming Married or "Married but withhold at the higher single rate" which is just the same as claiming Single. If you have a two household income you shouldn't actually claim married if you don't want to owe taxes at the end of the year, unless you have enough other deductions (mortgage etc).

I work in payroll so I see this all the time.

[iag48st]

I take full responsibility for steering the thread into another topic lol

Back to the thread: I'm getting my windows tinted later in the afternoon!


Sent from my iPhone using Tapatalk

[Nevermore]

Man, I wish I could spend my tax return on car parts. If the site wasn't lying to me I'm due over 2k for my return... But it will probably go towards student loans.

But! If I was going to use it for car parts, I would probably get wheels and tires.

[glorydays]

AEM fail safe, OFT and other bits to complete turbo project.

[Prog]

Originally Posted by hur1ey02

You typically have to pay a penalty for taking "too little" taxes from your wages. I've paid it before due to a bonus throwing me into a higher bracket.

http://www.irs.gov/taxtopics/tc306.html

Might be overlooked in most cases, but the kicker is if an audit on a past return occurs and this was overlooked.. penalties and interest. (x however many years that it has been)

Wow, TIL. Our tax system is so fucking convoluted.