Tax Returns 2012

[Cb_JoeyG]

So its that time again! Time to file those w2's and hope for the best!

What kinda return are you guys expecting?

I did mine on Turbotax.com and since im not claiming either of my kids i kinda got fucked over this year, i owe 500$

[Koochologist]

I'm hoping to get 4-5 k this year, two kids and the wife.

[Cb_JoeyG]

I'm hoping to get 4-5 k this year, two kids and the wife.

Good shit! I got 4g's last year claiming just my one little guy cuz i got the EIC credit and whatnot

[Koochologist]

What's an EIC credit? I always pay a tax place to do mine. I wish I could check how much I was going to get before I filed.

[Cb_JoeyG]

Earned income credit, dunno if its just a Wa state thing or not but i dont qualify for it this year because i cant claim either of my boys

[Koochologist]

Oh ok yeah I got that last year I know what tour talking about.

[Ralphie]

Na man EIC is not just WA.


And i still never understood why people love getting big returns this time of year....

your lending the govt money interest free....so its in your benefit to adjust your numbers so that you take home more monthly and end up breaking even or getting back very little.

[Koochologist]

I guess you're right but I kind of see it as a savings plan I can use all the money on bills or a hooker.

[Cb_JoeyG]

Na man EIC is not just WA.


And i still never understood why people love getting big returns this time of year....

your lending the govt money interest free....so its in your benefit to adjust your numbers so that you take home more monthly and end up breaking even or getting back very little.

Yea that would be the Ideal way of doing it, but at the same times it nice at the beginning of the year to have a lump sum of cash to catch up on bills with. The reason im getting fucked is cuz i claimed waaay to much and had very little taxes taken out for the first 6months of the year b4 i caught it and changed it to the correct amount by claiming a 0, guess i should claimed a 00 to break even

[MikeW]

Im with Ralphie. My federal is only $11, lol. State is like $60. $30 if i e-file.

Although i need to change it as i suck at saving money, so having a return at the end of the year would be nice.

[Ralphie]

Well if you want to save money for bills and projects then open a high interest savings/cd/etc

just be weary of the penalties etc...

but it is nice to have some extra cash all of a sudden lol.

[deevergote]

I'm self employed, so I always owe.

I'm still waiting on about 1/4 of my 2011 earnings, which will be considered 2012 earnings since the checks will be issued in 2012. Therefore, I actually received much less than I earned. However, all expenses incurred are still being written off... therefore my tax liability for 2011 is going to be next to nothing! I'm excited about that.

[Cb_JoeyG]

I'm self employed, so I always owe.

I'm still waiting on about 1/4 of my 2011 earnings, which will be considered 2012 earnings since the checks will be issued in 2012. Therefore, I actually received much less than I earned. However, all expenses incurred are still being written off... therefore my tax liability for 2011 is going to be next to nothing! I'm excited about that.

Oh yea self employed i forgot...

So do they really write off Lube as an expense? Ya hooker

[deevergote]

Pfffftt... lube is for beginners!

[Cb_JoeyG]

YES indeed it is