Filing Taxes for 2006
Jan 12th 2006, 5:51 am
#121
Joined: Feb 2004
Posts: 307
Re: Filing Taxes for 2006
Originally Posted by Angry White Pyjamas
And how many people would be able to say they had been 100% accurate and watertight if they prepared thier own taxes? I know I couldn't. I think its worth 100 bucks for the peace of mind....the IRS are one bunch you dont want to piss around with. They make the USCIS seem like a boy scout troop.
Jan 12th 2006, 5:53 am
#122
Septicity
Joined: May 2004
Posts: 23,762
Re: Filing Taxes for 2006
Originally Posted by Taffyles
Back to tax- my daughter in law over- withholds just to get a big tax refund, which she uses to pay off her credit/store cards (some of them over 20% interest!). The only way she can buy clothes etc is by credit card (cos the silly bugger is way overpaying tax every month. She uses H&R cos she doesn't trust turbotax, pays their fees and then pays to get the refund instantly...okay if I had nothing to do for the next hour I could propably work out just what that tax refund was actually 'costing' her. My son has given up trying to get through to her about it.
Jan 12th 2006, 5:59 am
#123
BE Forum Addict
Joined: Mar 2003
Location: Florida
Posts: 1,296
Re: Filing Taxes for 2006
Originally Posted by fatbrit
Was she dropped on the floor as a child?
What's scary is there's so many people who do the same thing.
Jan 12th 2006, 6:01 am
#124
Thinking about it
Joined: Oct 2005
Location: Mid-West
Posts: 9,435
Re: Filing Taxes for 2006
Originally Posted by Taffyles
$400 a month.
Yes, I know that it all adds up, but them there are so many other ways that you can be "careful" with your cash if you want to.
To me I'm prepared to sacrifice what many would consider to be a small amount of cash to have hassle free tax filing and a reasonably significant refund cheque at the end of it all.
(God, I'm bored today)
Jan 12th 2006, 6:01 am
#125
Mr. Grumpy
Joined: Jun 2003
Location: Nashville, TN
Posts: 3,100
Re: Filing Taxes for 2006
Originally Posted by Taffyles
LOL- I wouldn't call her lazy or stupid really- but yep definitely something bloody lacking there!
What's scary is there's so many people who do the same thing.
What's scary is there's so many people who do the same thing.
Jan 12th 2006, 6:02 am
#126
Thinking about it
Joined: Oct 2005
Location: Mid-West
Posts: 9,435
Re: Filing Taxes for 2006
Originally Posted by BritGuyTN
crikey, shes screwing herself in at least three different ways there!
Jan 12th 2006, 6:04 am
#127
Septicity
Joined: May 2004
Posts: 23,762
Re: Filing Taxes for 2006
Originally Posted by Taffyles
What's scary is there's so many people who do the same thing.
Anyway, seems not to be nationality-specific as we've got a few on this board, too!
Jan 12th 2006, 6:04 am
#128
BE Forum Addict
Joined: Mar 2003
Location: Florida
Posts: 1,296
Re: Filing Taxes for 2006
Originally Posted by BigDavyG
Imagine what you could do with the $16's worth of interest that you could have accumulated from $400 invested in a regular savings account for 13 months
Yes, I know that it all adds up, but them there are so many other ways that you can be "careful" with your cash if you want to.
To me I'm prepared to sacrifice what many would consider to be a small amount of cash to have hassle free tax filing and a reasonably significant refund cheque at the end of it all.
(God, I'm bored today)
Yes, I know that it all adds up, but them there are so many other ways that you can be "careful" with your cash if you want to.
To me I'm prepared to sacrifice what many would consider to be a small amount of cash to have hassle free tax filing and a reasonably significant refund cheque at the end of it all.
(God, I'm bored today)
errrm I get considerably more than $16 interest- I don't use regular saving accounts.
Jan 12th 2006, 6:08 am
#129
Septicity
Joined: May 2004
Posts: 23,762
Re: Filing Taxes for 2006
Originally Posted by BigDavyG
Imagine what you could do with the $16's worth of interest that you could have accumulated from $400 invested in a regular savings account for 13 months
Jan 12th 2006, 6:12 am
#130
Thinking about it
Joined: Oct 2005
Location: Mid-West
Posts: 9,435
Re: Filing Taxes for 2006
Originally Posted by fatbrit
Compounded over 13 months, and then times 12 (compounded over less months). You've just thrown the best part of a pony away. You could solve the problem in 30 minutes. How much do they pay you at work? $100/hr. Coz that's what you're paying yourself by using your nouse.
The fact that we are discussing this should probably indicate that I do not think that the sums involved make it worth my while, given that I'd prob just spend the cash saved from the withholding anyway.
Jan 12th 2006, 6:18 am
#131
Mr. Grumpy
Joined: Jun 2003
Location: Nashville, TN
Posts: 3,100
Re: Filing Taxes for 2006
Originally Posted by BigDavyG
Why would you compound it when I've used the apr ??
The fact that we are discussing this should probably indicate that I do not think that the sums involved make it worth my while, given that I'd prob just spend the cash saved from the withholding anyway.
The fact that we are discussing this should probably indicate that I do not think that the sums involved make it worth my while, given that I'd prob just spend the cash saved from the withholding anyway.
apr is not apy
apy is the compounded return
Jan 12th 2006, 6:21 am
#132
Septicity
Joined: May 2004
Posts: 23,762
Re: Filing Taxes for 2006
Originally Posted by BigDavyG
Why would you compound it when I've used the apr ??
The fact that we are discussing this should probably indicate that I do not think that the sums involved make it worth my while, given that I'd prob just spend the cash saved from the withholding anyway.
The fact that we are discussing this should probably indicate that I do not think that the sums involved make it worth my while, given that I'd prob just spend the cash saved from the withholding anyway.
No idea how you were doing it! I've got XL running on the other machine at the moment if you want me to crunch the numbers for you.
But, we're not talking pennies here like you insist we are. It can possibly be worth 250 to 1,000 bucks a year in gains for an average person on this board, possibly much more if you're borrowing money on your credit card that you lent to the government for nothing like our gingered Michelle!
And it really isn't that hard to do.
Jan 12th 2006, 6:23 am
#133
Thinking about it
Joined: Oct 2005
Location: Mid-West
Posts: 9,435
Re: Filing Taxes for 2006
Originally Posted by BritGuyTN
apr is not apy
apy is the compounded return
apy is the compounded return
Jan 12th 2006, 6:25 am
#134
Septicity
Joined: May 2004
Posts: 23,762
Re: Filing Taxes for 2006
Originally Posted by BigDavyG
Apologies, that's what I meant, however $400 invested at a rate of 4.25% would not return you $25 in interested over a 13 month period no matter what way you slice it.
But there's $400 for Jan, $400 for Feb, $400 for Mar...all going into his account.
Jan 12th 2006, 6:28 am
#135
BE Forum Addict
Joined: May 2005
Location: USA
Posts: 1,865
Re: Filing Taxes for 2006
Originally Posted by BigDavyG
Funny how a democrat can come across as so money hungry
Surely if the govt has your cash they will be earning interest on it anyway, which will ultimately end up contributing to the greater good.
Surely if the govt has your cash they will be earning interest on it anyway, which will ultimately end up contributing to the greater good.
