NoPistons -Mazda Rx7 & Rx8 Rotary Forum

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- Insert BS here (https://www.nopistons.com/insert-bs-here-12/)

- - Tax Refund (https://www.nopistons.com/insert-bs-here-12/tax-refund-13948/)

dont be an independant contractor, it hurts at the end of the year

mike

Quote:

Originally Posted by Tom93R1' date='Mar 17 2003, 08:13 AM

[quote name='Baldy' date='Mar 17 2003, 07:38 AM'] I remember reading in one of my Personal Finance books about how many millions (or billions?) are lost in interest from the government taking money during the year then giving it back, minus interest...kinda makes you think...

So if you end up paying money, from the interest perspective, the government is actually losing money in interest while you're holding that money for the year.

I'm gonna stop before I confuse myself.

If that is the case then I am making out like a bandit, I owe $1400 between state and federal. I usually come pretty close to breaking even but this year my checks got all screwed up when the company I work for was bought out. [/quote]

Yep.... learned bout this in finance the other day. If you owe, according to the present value of money, you could have invested the money and YOU earned interest on it, instead of the government....

If you get a refund, the GOVERNMENT was making money on interest cause they were holding your money, instead of you.

Only thing is though if you dont plan on owing, it sucks...... cause then you are just thinkin bout how much money you have to scrounge up to pay uncle sam

Oh yeah, and to answer the question I get back bout $350 from the fed and havent done state yet, but guessing another $50-100 there

I think we need to start a Church of the Rotor or something..... declare ourselves a religion and pay no taxes

Quote:

Originally Posted by r0t0r-rooter' date='Mar 17 2003, 09:29 AM

I think we need to start a Church of the Rotor or something..... declare ourselves a religion and pay no taxes

yeah martinism

mike

Quote:

Originally Posted by r0t0r-rooter' date='Mar 17 2003, 09:29 AM

I think we need to start a Church of the Rotor or something..... declare ourselves a religion and pay no taxes

This is a wise plan.

Judge Ito can be the High Priest. https://www.nopistons.com/forums/pub...#>/BURNOUT.gif

J

we will all worship phinsup as he hath bought us the beer of wisdom!

mike

HMMM, this reminds me I better get the software and get to it. I'm expecting a good refund this year, because we get a refund if more than a certain percentage of your gross was spent on rent. My rent was HUGE last year.

i got screwed. $2600 with 2 jobs making 35,000 a year with both jobs. married w/ 2 kids. wife dont work. i was supposed to get 4500. i dont know wtf happened https://www.nopistons.com/forums/pub...1047683358.gif