Tax Return Swag

[MrHat]

So.

Wife and I just got a sexy tax return.  We're gonna pays off our CC's (not too much) and get a deck built I think so we can enjoy that over the summer.

Which means I still have like 1-2k left over to spend on stuffs.  I'd like to save a bit this year so I'm going to go small.

I want to get a super sexy headset.  I mean like, super fucking awesome sound + built on mic.  I'm tired of wiring up the lapel everytime.  Any suggestions here?  USB is fine, but I have pretty nice intergrated sound on my current board, so its non essential.

Also, I made the mistake of walking into the apple store and I might buy a macbook air IRRATIONALLY for my wife.  Only because it's thin.

Disuade me!

What loots are you guys getting?

[SnakeCharmer]

I don't get tax rebates refunds.  Not sure if I am getting the rebate thing or not.  Will have to look at the requirements.

Then again, I write anything and everything off, so it washes out in the end. 

If anything happens to my exIRS auditor/investigator CPA, I'm going to be screwed.

Second edit:  Also, I have the Plantronics 770 headphones.  I'd highly recommend them, only 70 bucks.

[Signe]

We'll get a rebate, but no refund.  We always have to pay.  We'll pay more than that paltry rebate, anyway.  Dammit.

[shiznitz]

I want to get a super sexy headset.  I mean like, super fucking awesome sound + built on mic.  I'm tired of wiring up the lapel everytime.  Any suggestions here?  USB is fine, but I have pretty nice intergrated sound on my current board, so its non essential.

Plantronics. I bought a wired (don't go Bluetooth) USB one for about $80 a few years ago and the thing has been solid ever since.

http://www.plantronics.com/north_america/en_US/products/cat6180048/cat6180052

I have not tried the software with Vista, though.

[schild]

I'm $1,000 over getting a rebate. I'm really hoping for some fucking money back.

[Merusk]

Doesn't the Macbook Air lack several 'essential' pc components?  Like.. drives.. and USB ports?  I saw a pic somewhere comparing it to a C64.. they were about equal in features. 

I'm taking the family to Disney World and paying off the last of the computer before the 0% financing runs out with my return.  The kids are old enough to enjoy the trip now, and dammit I haven't taken a vacation in years.

The rebate money, however, is going into the Kid's college accounts.

[Yegolev]

I don't know how much the rebate is, but if there are any qualifications on it then I'm probably not going to get it.  I am very suspicious that it won't come close to the amount of money I gave to the gubmint in 2007, so thanks for the patronizing gesture!

My refund went toward several items, such as the cruise I just went on, the pool, and/or landscaping.  And I guess the speeding ticket.

[shiznitz]

You will also pay taxes on the rebate when you file next year.

[Oban]

You should all fire your accountants.  Any tax refund is just an interest free loan you have given to the government.  

Decrease the withholdings on your paychecks and learn to pay the government on April 15th.

[MrHat]

I know.  I've been telling my wfie that.  But she refuses!

She keeps saying something about "better to get $100 back then to owe $5000".  Less worry I guess.

[NiX]

Do we have any people that are good with Canadian taxes?

[Yegolev]

turbotax.coom.eh

[NiX]

turbotax.coom.eh

[Viin]

We're going on vacation with ours.

Edit: Btw, that large retarded smilie is annoying.

[Viin]

You should all fire your accountants.  Any tax refund is just an interest free loan you have given to the government. 

Decrease the withholdings on your paychecks and learn to pay the government on April 15th.

Except you probably have to do estimated quarterly taxes anyway, if you make a decent amount of money.

[Johny Cee]

Do we have any people that are good with Canadian taxes?

I've done Canadian tax before,  but mostly to generate the proper forms for the US tax returns of individuals working in Canada to file treaty-based returns.

[Merusk]

You should all fire your accountants.  Any tax refund is just an interest free loan you have given to the government.  

Decrease the withholdings on your paychecks and learn to pay the government on April 15th.

Tell ya what. You go around living on my income, with my wife then you can tell me what to do.  Yes, I know I'm giving the government a "free loan."  I don't care, it helps resolve things that would otherwise be big problems.

[MrHat]

You should all fire your accountants.  Any tax refund is just an interest free loan you have given to the government.  

Decrease the withholdings on your paychecks and learn to pay the government on April 15th.

Tell ya what. You go around living on my income, with my wife then you can tell me what to do.  Yes, I know I'm giving the government a "free loan."  I don't care, it helps resolve things that would otherwise be big problems.

Yup.

Also, giving the gov'nt a free loan is more supporting of the troops than buying a bumper sticker.

I'm patriotic.

[Miasma]

Do we have any people that are good with Canadian taxes?

If you're getting a refund it's worth buying QuickTax for $40 from any office supply store like Staples, it makes it quite easy and allows you to file online and do a direct deposit.  If you've never filed online before you have to call and get a code from the government.  Be sure to print it out as a pdf and save it somewhere though.

I got a pretty big refund and I'm not sure what to do with it, maybe pay down my mortgage or something equally unexciting.

[schild]

Just out of curosity, this year is the first time I might actually be elgible for a REAL refund. Can anyone with some experience in this shit PM me? going to see the accountant this weekend, could use some advice.

[Rasix]

You should all fire your accountants.  Any tax refund is just an interest free loan you have given to the government. 

Decrease the withholdings on your paychecks and learn to pay the government on April 15th.

No accountant here, but my wife and I were within $60 bucks on our federal.    Unfortunately we neglected to make similar adjustments to state and wound up getting a decent chunk back there.  Which is taxable next year... 

The rebate, which we actually qualify for (remember, it's adjusted gross), will likely be spent during our Hawaii trip (yay Maui) in a month.  The whole return + bonus time of year is always rife with spendiness, and this year was no different, although we did put some into a couple Roths.  AND YAH, WTG MARKET since I did that. 

[Viin]

A tax preparer should be able to do everything you need and will guide you through it - it's pretty easy unless you have a lot of funny stuff going on. When you visit the first time you should bring a notepad and write down everything you need to provide (business expenses, etc etc).

It's totally worth it to have a tax preparer if you have a mortgage or businesses.

[SnakeCharmer]

Just out of curosity, this year is the first time I might actually be elgible for a REAL refund. Can anyone with some experience in this shit PM me? going to see the accountant this weekend, could use some advice.

If you don't have receipts, don't claim it.  Have a paper trail for everything.

[Yegolev]

My only tip is if you have business income then you should hire someone... but that's a big tip.  I handled everything fine until I saw a Schedule K, which I absolutely could not sort out.  Currently I use TurboTax Online, but if a Schedule K shows up again, it's back to H&R Block.  It's all about the effort-to-reward ratio.

[Murgos]

...although we did put some into a couple Roths.  AND YAH, WTG MARKET since I did that. 

So, all this mess is your fault then?

[sidereal]

Tell ya what. You go around living on my income, with my wife

I think swapping goes in another forum

[NiX]

If you're getting a refund it's worth buying QuickTax for $40 from any office supply store like Staples, it makes it quite easy and allows you to file online and do a direct deposit.  If you've never filed online before you have to call and get a code from the government.  Be sure to print it out as a pdf and save it somewhere though.

I get it for free from my school. The problem is I'm not finding out why my tuition of 3 terms isn't adding anything to my return and can't figure out why.

[Miasma]

If you were a student last year and didn't make much money it is possible that you are already getting a refund for all the tax you paid through the standard personal credit.  Does your refund already equal the total tax deducted on all t4 slips?

You should probably save those tuition deductions for when you are in a higher tax bracket anyways.

[voodoolily]

We paid off my college credit card and our trip to Japan, and may buy me a truck! Property tax write-offs ftw!

Next year we're gonna Roth all our shit, but for now I just can't imagine having an extra $600/month to not send to my credit card.

[Oban]

You are all true patriots.  Apologies for being so unamerican.

The best part about quarterly filing is the fact that the late payment penalty is so ludicrously low.

[NiX]

If you were a student last year and didn't make much money it is possible that you are already getting a refund for all the tax you paid through the standard personal credit.  Does your refund already equal the total tax deducted on all t4 slips?

So if my total T4 deductions are hit before I reach my tuition paid I can only roll over the credits for the higher tax bracket?

[Merusk]

You are all true patriots.  Apologies for being so unamerican.

The best part about quarterly filing is the fact that the late payment penalty is so ludicrously low.

Nope, just poor as dirt.

You fuckers would flip out trying to live down here at the "lower middle class/ hey you qualify for EIC credit!" border.

Yeah, that 7 years of college was fucking worth it. 

[Strazos]

I bought the TV I desperately needed.

And hey, it's fun getting the odd HD channel for free with the nice tuner. ALso, the 360 looks like liquid awesome on the unit.

[Viin]

We paid off my college credit card and our trip to Japan, and may buy me a truck! Property tax write-offs ftw!

Just remember you can't claim any rental property expenses (including mortgage interest and depreciation) if you make more than 100k jointly (50k if filing single).

What a load of crap.

[Johny Cee]

We paid off my college credit card and our trip to Japan, and may buy me a truck! Property tax write-offs ftw!

Just remember you can't claim any rental property expenses (including mortgage interest and depreciation) if you make more than 100k jointly (50k if filing single).

What a load of crap.

Unless I'm missing your meaning,  sure you can.  It offsets your rental revenue on a Schedule E,  and isn't subject to AMT.  If your expenses are greater than your rental revenue (which happens), it will be limited because it's a passive income source.  Will be carried over to future years, or used to offset other passive (interest, dividends) sources.

Basic rule of thumb on the Roths, assuming steady wages/income over time:  Was basically told in a seminar that, under age 40, most tax benefit is from a Roth (investment income that isn't taxed when coming out of the Roth is greater than the time-adjusted tax savings from a traditional).  Over age 40, you get more tax benefit from a traditional IRA/401K deduction at the time you make the contribution.


There are some sweet, sweet credits for "energy efficient home improvements" now.  Energy efficient windows, etc.  Can't remember,  but I think the energy efficient car credits have mostly sunset.