Zguy28 Posted February 12, 2009 Share Posted February 12, 2009 How much is the child tax credit? 1k or 2k per child?1K per kid.I have 3. Plus my wife is stay-at-home. Link to comment Share on other sites More sharing options...
Zguy28 Posted February 12, 2009 Share Posted February 12, 2009 I know! Thats why I'm pretty embarrassed at getting a return this year. I never understood using Federal taxes as a non-interest bearing interest christmas club account Because most people just aren't disciplined enough with money to save it themselves. Link to comment Share on other sites More sharing options...
techboy Posted February 12, 2009 Share Posted February 12, 2009 I know! Thats why I'm pretty embarrassed at getting a return this year. I never understood using Federal taxes as a non-interest bearing interest christmas club account Shush! It's another source of income for the Feds, and if we convince these people, we'll just end up with higher taxes to replace it! Link to comment Share on other sites More sharing options...
SnyderShrugged Posted February 12, 2009 Share Posted February 12, 2009 Shush! It's another source of income for the Feds, and if we convince these people, we'll just end up with higher taxes to replace it! ROTFL!!! OLS!!:applause: Link to comment Share on other sites More sharing options...
I_Bleed_B&G Posted February 12, 2009 Share Posted February 12, 2009 Because most people just aren't disciplined enough with money to save it themselves. Yea, I would of probably blew all that money. I can't save worth a ****. Link to comment Share on other sites More sharing options...
zoony Posted February 12, 2009 Share Posted February 12, 2009 Shush! It's another source of income for the Feds, and if we convince these people, we'll just end up with higher taxes to replace it! Meh, a popular sentiment that eggheads like to throw out there, but for most Americans tax returns are a great source of disciplined saving. And by disciplined I mean forced If 99% of people with sizable returns changed their withholding, they would just spend the money month to month on nonsense. I file jointly. My withholdings are adjusted so that I would normally owe money at the end of the year, however my wife claims no deductions so we get some cash back. And I have to admit, it's a very nice thing to get a check back in March. I did the "owe $100 every April" thing for years. Everyone told me it was a great financial position to be in. "You're so smart! :blahblah:" Meanwhile, all my friends were getting fat checks and I was paying out. Adjusting your withholdings is the most over-rated financial advice in the history of financial advice. It sucks donkey balls in every conceivable way to owe money at the end of the year. So yah, the government can keep the interest. I'll take the check. Does wonders for my psyche this time of year Link to comment Share on other sites More sharing options...
techboy Posted February 12, 2009 Share Posted February 12, 2009 Zoony, your argument sucks financially, but is excellent emotionally. Which is fine. Some of us, though, derive tremendous emotional satisfaction from being math geeks. And yes, I really am pleased when I end up owing a small amount. Link to comment Share on other sites More sharing options...
zoony Posted February 12, 2009 Share Posted February 12, 2009 Zoony, your argument sucks financially, but is excellent emotionally. Link to comment Share on other sites More sharing options...
NavyDave Posted February 12, 2009 Share Posted February 12, 2009 I pay taxes. Link to comment Share on other sites More sharing options...
PleaseBlitz Posted February 12, 2009 Share Posted February 12, 2009 Zoony, your argument sucks financially, but is excellent emotionally.Which is fine. Some of us, though, derive tremendous emotional satisfaction from being math geeks. And yes, I really am pleased when I end up owing a small amount. Zoony sure is missing out on that 2% interest rate he could be realizing with an Orange savings account. Or the 1/2 of 1% if he put it in a local branch.. Just think Zoony, if you had done all the math and took countless hours of your time to manage your deductions, BB&T would have given you $20. Link to comment Share on other sites More sharing options...
Special K Posted February 12, 2009 Share Posted February 12, 2009 My honeymoon! This is the one upside of getting married while still a student, you get a nice tax return to help fund non-necessities...like a vacation, lol. I'll be putting part of it in savings however, but the rest will go toward the trip. Link to comment Share on other sites More sharing options...
Geoff_K Posted February 12, 2009 Share Posted February 12, 2009 my wife cuts it close so that we dont get a big refund. her thought is why let them use our money for a year. we end up paying or getting less than $100 ...... i figure if it makes her happy it can make me happier ;-> Link to comment Share on other sites More sharing options...
CrypticVillain Posted February 12, 2009 Share Posted February 12, 2009 Half on my car note bout a quarter on some clothes and the rest is going towards a Me, my uncle and cousin just started shooting disc last year and we want this gun. Link to comment Share on other sites More sharing options...
rd421 Posted February 12, 2009 Share Posted February 12, 2009 Depends on how much I get back honestly...Most of the money will got to the "OH MY God I am having a baby in august!" fund... Link to comment Share on other sites More sharing options...
TheGoodBits Posted February 12, 2009 Share Posted February 12, 2009 I own the feds about $44 dollars. That angers me. Link to comment Share on other sites More sharing options...
techboy Posted February 12, 2009 Share Posted February 12, 2009 Zoony sure is missing out on that 2% interest rate he could be realizing with an Orange savings account. Or the 1/2 of 1% if he put it in a local branch.. Just think Zoony, if you had done all the math and took countless hours of your time to manage your deductions, BB&T would have given you $20. I enjoy math. P.S. You're ignoring the time value of money, mr. economist. Link to comment Share on other sites More sharing options...
Geoff_K Posted February 12, 2009 Share Posted February 12, 2009 Zoony sure is missing out on that 2% interest rate he could be realizing with an Orange savings account. Or the 1/2 of 1% if he put it in a local branch.. Just think Zoony, if you had done all the math and took countless hours of your time to manage your deductions, BB&T would have given you $20. OR not paying 17% on that credit card because he had that extra 100ish dollars a month in the bank instead of wating on repayment. ;- ) Link to comment Share on other sites More sharing options...
Stophovr6 Posted February 12, 2009 Share Posted February 12, 2009 Bills and maybe snowboard boots. Link to comment Share on other sites More sharing options...
zoony Posted February 12, 2009 Share Posted February 12, 2009 Zoony sure is missing out on that 2% interest rate he could be realizing with an Orange savings account. Or the 1/2 of 1% if he put it in a local branch.. Just think Zoony, if you had done all the math and took countless hours of your time to manage your deductions, BB&T would have given you $20. :rotflmao: :rotflmao: perfect Link to comment Share on other sites More sharing options...
artmonkforHOF Posted February 12, 2009 Share Posted February 12, 2009 mine with go to one of 3 things: 1) paying down credit card debt 2) paying for home repairs 3) home insurance I love getting money back that I have already spent. Link to comment Share on other sites More sharing options...
Elessar78 Posted February 12, 2009 Share Posted February 12, 2009 I'm expecting a nice return, because I have a lot of business write-offs this past year. But who knows. I've learned that expected and actual are two very different things. Regardless, I'm most likely gonna use it to pay off debt or just save it for either the kid we are gonna conceive in the next year or a down payment on the house we're buying in the next year. Link to comment Share on other sites More sharing options...
Peeping Wizard Posted February 12, 2009 Share Posted February 12, 2009 Assuming solvency on the Government's part, we would like to refinish our bathroom. Link to comment Share on other sites More sharing options...
Elessar78 Posted February 12, 2009 Share Posted February 12, 2009 my wife cuts it close so that we dont get a big refund. her thought is why let them use our money for a year. we end up paying or getting less than $100 ...... i figure if it makes her happy it can make me happier ;-> Your wife's thinking is right—in theory. Unless you guys are actually putting the difference away into something that's earning a good interest rate then it's moot point. It's even more of a moot point when you think about that on a $2,500 you'd make a whopping $75 (at 3%-higher than the best current money market rate around) for the year. And there's no risk. Link to comment Share on other sites More sharing options...
cracka Posted February 12, 2009 Share Posted February 12, 2009 getting 14k back myself. I prefer the forced savings as if I didnt have it witheld I'd blow it on one thing or another. Plus, the $280.00 I could have made on that really aint worth it.. I'll be settling up some bills, getting roof fixed. Maybe a vaca with the wife and hope to put 10k in savings. oh.. and paying for my skins tickets.. Link to comment Share on other sites More sharing options...
shuler74 Posted February 12, 2009 Share Posted February 12, 2009 getting 14k back myself. I prefer the forced savings as if I didnt have it witheld I'd blow it on one thing or another. Plus, the $280.00 I could have made on that really aint worth it..I'll be settling up some bills, getting roof fixed. Maybe a vaca with the wife and hope to put 10k in savings. oh.. and paying for my skins tickets.. wow ..do you have a lot of kids or own alot of properties Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.