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Heisman Winner [83345]
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Did taxes and got a shiat ton of cash back (16k)
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Apr 15, 2025, 10:53 AM
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So what now I say to the wife… Hookers and blow? Maybe some bad arrse silver coins. How about gold? A trip to Europe?
gotta pay our highest interest debt instead she says.
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Oculus Spirit [40417]
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lol at you still thinking you say over the family money.
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Apr 15, 2025, 10:56 AM
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it's cute.
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Ultimate Clemson Legend [107169]
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Re: Did taxes and got a shiat ton of cash back (16k)
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Apr 15, 2025, 10:57 AM
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Clemson Sports Icon [57172]
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She'sNotWrongYouKnow.gif***
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Apr 15, 2025, 10:57 AM
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Heisman Winner [80919]
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Why are y'all giving up $1300 a month in cash flow and still
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Apr 15, 2025, 11:03 AM
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dealing with high interest debt?
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Ultimate Clemson Legend [107169]
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Our CPA does ours and he's pretty good getting it around $1K-$1.5K back.
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Apr 15, 2025, 11:29 AM
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$16K......someone's doing it wrong. That's a lot of money to have locked away that you could otherwise use.
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All-Time Great [90195]
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I'd be srsly worried if I got that much back.***
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Apr 15, 2025, 11:30 AM
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Ultimate Clemson Legend [107169]
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Yeah. Way we do it is we do NOT want to owe, period.
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Apr 15, 2025, 11:34 AM
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So fudge a little towards a refund, but just a little bit. Anything under $2K back is acceptable, but we shoot for $1K. It usually falls between $1K and $1.5K.
$16K and that's wasted money. Better off in savings and even better off paying down debt with it. The interest you could save on say credit card debt with that $16K in a year would be huge. If you carry any balance on any credit card, then that's wasted $$$.
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All-Time Great [90195]
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I just wouldn't believe it.
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Apr 15, 2025, 11:41 AM
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Back when I used to sometimes get a refund, it was never more than about $1,500. Even that hasn't happened in the last 20 years. Especially not since 2018 when the tax "cut" went into effect.
In my case, a $16,000 refund would have to be a huge mistake.
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Ultimate Clemson Legend [107169]
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More you make, the bigger mistakes can get.
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Apr 15, 2025, 11:56 AM
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I mean if your household income is $80K, then you can get it pretty close to $550-$800. If your household income is $300K, harder to keep that tight a window. $800 is 1% of $80k. $1,500 is 0.5% of 300K.
If he has a household income north of $1 million, then that $16K seems less outrageous.
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All-Time Great [90195]
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true***
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Apr 15, 2025, 11:59 AM
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Game Day Hero [4568]
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Re: More you make, the bigger mistakes can get.
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Apr 15, 2025, 12:39 PM
[ in reply to More you make, the bigger mistakes can get. ] |
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The head of household, his womenz, if I remember correctly took a new gig or got a big promotion. Anyway she could be getting stock payouts, for which she never paid taxes on interested gained...trust me I know that feelz. I always work for ESOPs and I owe every year.
Plus if there was a big real-estate purchase...say 1MM and they put small percent down to say 850k welp they can only claim upto 750k for interest paid UNLESS they got principal below said 750k ....trust me I know that feelz too lol.
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Ultimate Tiger [34727]
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All-Time Great [90195]
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I don't even understand how that could happen***
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Apr 15, 2025, 11:06 AM
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Clemson Sports Icon [52297]
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$16k interest free loan to the gubmint. Well done.***
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Apr 15, 2025, 11:06 AM
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Heisman Winner [83345]
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We give a shiat ton to good will. Like 20k a year
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Apr 15, 2025, 11:12 AM
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So have to wait to put that in. Idk bc I’m not in charge of the money.
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All-Time Great [90195]
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Std deduction is $29,200 for MFJ
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Apr 15, 2025, 11:15 AM
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I have no idea how you could get that many qualifying deductions to not only beat your standard, but then have enough to get a $16K credit.
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TigerNet Immortal [175180]
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Pssst.
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Apr 15, 2025, 3:26 PM
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Because it’s bulllshit.
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Ultimate Tiger [34727]
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That ain't it...the only way to get that much back unplanned...
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Apr 15, 2025, 11:57 AM
[ in reply to We give a shiat ton to good will. Like 20k a year ] |
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is to take a deduction substantially over the std deduction.
Let's say your effective tax rate is 20%. Making some assumptions...that means you'd have to have a deduction of $16k/0.2 = $80k over the std deduction of $29k if you're filing together.
Not to be all in your business, but it sounds like you either made a mistake on your taxes or you're getting way too much withheld from your pay checks. If the latter is the case, you're cutting uncle sam an interest free loan while accruing debt/keeping debt as a result.
Sounds like you might want to get a little more involved in your finances.
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TigerNet Legend [146695]
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I'd like to make a suggestion, if you'll allow me.
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Apr 15, 2025, 11:12 AM
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Spend that 16k frivolously now because you can always get more credit cards without any trouble.
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Heisman Winner [80919]
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I think he should go to Bobby Builds It's YouTube channel,
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Apr 15, 2025, 11:14 AM
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click on an affiliate link to Amazon, then just buy random stuff.
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TigerNet Legend [146695]
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If he was smart with his money...
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Apr 15, 2025, 11:18 AM
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he'd spend the 16k doing that and THEN pile on even more with a batch of those aforementioned new credit cards.
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Tiger Titan [48897]
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I just paid mine and I
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Apr 15, 2025, 11:17 AM
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feel violated
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TigerNet Legend [146695]
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Samey same sames.
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Apr 15, 2025, 11:20 AM
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Maybe the two of us should have gone the easy route and just sent JerryGarciaBand® a check directly.
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Clemson Sports Icon [52614]
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if you've got high interest debt, you're doing it wrong.***
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Apr 15, 2025, 11:18 AM
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Heisman Winner [83345]
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We dont have high interest debt.
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Apr 15, 2025, 11:30 AM
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But we have some lower interest from renovating the house to have 6 bedrooms, car loan etc. so we just gonna pay it down I guess. My vote was for a trip to Europe.
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Clemson Sports Icon [57172]
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Re: We dont have high interest debt.
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Apr 15, 2025, 11:39 AM
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Top TigerNet [30267]
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I just so happen to have a 2020 Subaru Outback for sale ... 96K miles ... listed
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Apr 15, 2025, 11:29 AM
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for ... get this ... $16,000.
Do u believe in Destiny ?
Message was edited by: clemchem®
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Oculus Spirit [40417]
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I didn't know you were a fellow middle school lesbian art teacher.
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Apr 15, 2025, 11:34 AM
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hit the DMs if you want to scissor.
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Top TigerNet [30267]
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I have been outed ... my entire TNet image was a facade.***
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Apr 15, 2025, 11:37 AM
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Heisman Winner [83345]
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Heisman Winner [86316]
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You know, if you dialed up the number of dependents, your paycheck
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Apr 15, 2025, 11:41 AM
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would be bigger and maybe you wouldn't have so much debt....
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Ring of Honor [21723]
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Vegas . 1/3 on the pass line 2/3 behind. Good luck !***
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Apr 15, 2025, 2:03 PM
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Ultimate Tiger [34727]
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Whoa there...rookie advice....
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Apr 15, 2025, 3:01 PM
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You go to Main Street Station downtown Vegas which has 20x odds limit on pass line.
So you put down $760 on the pass line and $15,200 odds and profit and then pray the shooter rolls back-to-back 4 or 10!
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Ring of Honor [21723]
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Yep use to go downtown Vegas for 10X odds behind the line
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Apr 15, 2025, 3:08 PM
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Before O’Sheas was relocated and still on the Strip, their Craps tables use to have better odds _ maybe 5X ??? Plus O’Sheas had $1 draft beer in the afternoons just sitting at the bar.
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Ultimate Tiger [34727]
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Back in my younger days, Binions was my fav craps place downtown...
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Apr 15, 2025, 3:42 PM
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they had 100x odds and $1 and $3 tables during the day.
I had one of my best rolls ever at O'Sheas. It seemed like hours and I was d-runk, but I think it was every bit of 45 min. I was low budget back then (not that I'm some high roller now) and made what was a lot of money vs my gambling budget, but there was a guy from TX at the other end of table that made a fortune on that roll. Afterwards he threw me a few blacks for the effort.
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Top TigerNet [32241]
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my hay-zeuss how is that even possible? thats awesome.
Apr 15, 2025, 3:16 PM
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Orange Immortal [63769]
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I'd say a decimal error would be top suspect***
Apr 15, 2025, 3:29 PM
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Orange Immortal [63769]
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owed $64 this year
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Apr 15, 2025, 3:18 PM
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like most everyone says, goal is net zero.
This was pretty close, about as close as I have ever gotten.
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TigerNet Grandmaster [206039]
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Yep, $44 here.***
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Apr 15, 2025, 3:37 PM
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TigerNet Immortal [175180]
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Re: Did taxes and got a shiat ton of cash back (16k)
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Apr 15, 2025, 3:29 PM
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Top TigerNet [30118]
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I guess that's an advantage
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Apr 15, 2025, 3:43 PM
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of digging through change jars for a living. Lotta write offs
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Clemson Sports Icon [52073]
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Sounds like you found that CPA that isn't afraid to go to jail I've been
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Apr 15, 2025, 3:44 PM
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looking for. tmale me his/her/them info
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All-Time Great [90195]
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With the shnanigans you've pulled that you've told us about
Apr 15, 2025, 4:05 PM
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(I'm certain there are more) I'm surprised you haven't spent a lot more time in our court system.
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Clemson Icon [26226]
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Last year I got 27k back.
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Apr 15, 2025, 4:23 PM
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The year before, I owed 64k because of me not understanding write offs.
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Ultimate Clemson Legend [102043]
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