Who's looking forward to filing their taxes this year?!?
I AM!!!!!!!!!!!!!!!!!!!!!
I bought my first home in March of 08 so this is the first time I get to claim all of the interest, taxes, and PMI on my filing. I'm still working on filling the rest of the form out (using Turbo Tax online) but so far my refund is nearly double of what I got last year!
Being self employed, tax day is always time to write the big check to those who have no regard for my labor or money. Although I've sent in estimated quarterly taxes I always get nailed on April 15th. The way the Government has wasted what I've worked so hard for I don't feel like they are entitled to another cent.
Looking foreward to tax day? Are you serious!
My dad isn't looking forward to it. He LOST money and STILL owed taxes last year. I feel bad for him, and there is always the possibility of the taxes going higher!!
I'll probably do okay, as I bought a house last year as well...
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2007 Sky Red Line 5-Speed - 67k - Paid for, Trifecta tune, DDM Extreme BB/Clamps
1998 Civic EX - 5-Speed - 213k - Hey, it is cheap.
Well, I'm looking forward to getting my return filed. My income tax rebate will be used to fund the Stage II Kit for my GXP.
Started filling out as much of the forms as I can - just need to wait until I receive my 1099 forms so I can finish and file. I figure if I can efile by the end of January I will be getting my tune installed in mid-February!!!
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GXP, Sly w/ Black Leather Interior, Loaded
Mods - Solo Performance GXP RCD exhaust, IC pipes, GMPP Performance Upgrade Kit, Backbone Brace and Probeam.
Norms fiberglass rear diffuser, Smoked Headlights, Opel GT antenna, splash guards, custom illuminated Wind Restrictor, JPM leather visor covers, elbow pads and custom embroidered, leather covered center console.
Email me if you are interested in joining the Mid-Atlantic Solstice Sky Club (MASSC) for NJ, NY, PA, DE and MDdscheneck@msn.com
If your refund is big, that just means you need to adjust your withholding. Refunded money is just an interest-free loan you gave the government: there is nothing good about it. And enjoy the PMI writeoff while it lasts, it's one of Obama's targets for 2010, when it comes up for renewal.
I've been a long-time supporter of The Fair Tax. If you're not familiar with it, I assure it's one of the more sensible ideas in government you will encounter in your lifetime, and learning about it is well worth your time as a taxpayer and a citizen.
Yeah, last year I tried using the "tax estimator" function on the IRS website to try to better target the "correct" amount of tax being withheld from my pay, as I also don't want to owe any taxes come April.
Still didn't come out quite right, so I will try again for 2009. Although I think part of the large rebate this year is due to higher charitable deductions than I have had in previous years. And whatI'm gonna give to charity is not the kind of thing I can determine on January 1.
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GXP, Sly w/ Black Leather Interior, Loaded
Mods - Solo Performance GXP RCD exhaust, IC pipes, GMPP Performance Upgrade Kit, Backbone Brace and Probeam.
Norms fiberglass rear diffuser, Smoked Headlights, Opel GT antenna, splash guards, custom illuminated Wind Restrictor, JPM leather visor covers, elbow pads and custom embroidered, leather covered center console.
Email me if you are interested in joining the Mid-Atlantic Solstice Sky Club (MASSC) for NJ, NY, PA, DE and MDdscheneck@msn.com
If your refund is big, that just means you need to adjust your withholding. Refunded money is just an interest-free loan you gave the government: there is nothing good about it. And enjoy the PMI writeoff while it lasts, it's one of Obama's targets for 2010, when it comes up for renewal.
I've been a long-time supporter of The Fair Tax. If you're not familiar with it, I assure it's one of the more sensible ideas in government you will encounter in your lifetime, and learning about it is well worth your time as a taxpayer and a citizen.
I only began to learn more about what you are talking about regarding the interest-free loan a few months ago. I changed my exempt status from 0 to 1. Probably still giving the government money but I'd rather get a little back than have to pay.
I bought my first home in March of 08 so this is the first time I get to claim all of the interest, taxes, and PMI on my filing. I'm still working on filling the rest of the form out (using Turbo Tax online) but so far my refund is nearly double of what I got last year!
Hey Tekmoe,
Was your closing in March or after? I don't want to say anything just yet until I know. Your answer may mean good news or bad for you.
Oh and to answer your original question, I just bought my first home last Aug. and I am looking forward to it this year for sure. I have a lot of plans for the bank I am getting.
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DEEP, GT KIT,RK RAM AIR HOOD, DUAL WING, UP-SHIELD, EIB SPRNGS, DEJON CAI & I/C PIPES, CSTM EXHAUST,CSTM PAINT AND GRAPHICS, RMR STYLE BAR, LED AND ACCENT LIGHTS, CSTM GAUGE FACE, DASHHAWK, LAMBO DOORS, AVIC F700BT NAV, BONUS SUB & AMP, Prem. pkg w/leather, A/C, Auto, 18" chrome wheels, sport pedals, Backbone, Probeam, WERKS Tune.
"BLUE DEMON"
"For those who fight for it, FREEDOM has a flavor the protected will never know"
Former WCKCC member. Now MKC member.
Last edited by Gunnys GXP; 01-06-2009 at 02:10 PM.
Was your closing in March or after? I don't want to say anything just yet until I know. Your answer may mean good news or bad for you.
Oh and to answer your original question, I just bought my first home last Aug. and I am looking forward to it this year for sure. I have a lot of plans for the bank I am getting.
If you are going to tell me about the First-Time Home Buyers tax credit, I'm already way ahead of you. And yes, unfortunately, I closed on March 24th which disqualifies me from getting that credit.
If you are going to tell me about the First-Time Home Buyers tax credit, I'm already way ahead of you. And yes, unfortunately, I closed on March 24th which disqualifies me from getting that credit.
Yep and I'm sorry to hear that. One of the guys I work with is in the same boat. He closed in March also.
If anyone else on here is a "first time home buyer" and closed after April 9 of 08 or plans to buy and close before July 1 of 09. There is basicly a no interest Govt. loan "tax credit" of 7500.00 available to you if you choose. It does have a 500.00 a year repay fee for 15 yrs or early pay off if the home is sold before 15. I think it is worth 42 bucks a month. Payment is done in the continuing years filings. If you always get a return of more than 500 in the past na dhave a good plan for what to do with it I say go for it. I have a Q/A PDF if anyone is interested in the info.
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DEEP, GT KIT,RK RAM AIR HOOD, DUAL WING, UP-SHIELD, EIB SPRNGS, DEJON CAI & I/C PIPES, CSTM EXHAUST,CSTM PAINT AND GRAPHICS, RMR STYLE BAR, LED AND ACCENT LIGHTS, CSTM GAUGE FACE, DASHHAWK, LAMBO DOORS, AVIC F700BT NAV, BONUS SUB & AMP, Prem. pkg w/leather, A/C, Auto, 18" chrome wheels, sport pedals, Backbone, Probeam, WERKS Tune.
"BLUE DEMON"
"For those who fight for it, FREEDOM has a flavor the protected will never know"
I just like to get it over with. I still do my own taxes (with Turbo tax) even though I probably should hire some accountant. EVery year I tailor my withholding and quaterly payments pretty closely to my estimated final taxes each year, so there is never a big plus or minus.
This year with the stock markt I have very limited capital gains, but still, I will pay a lot in taxes but figure I get a lot for it, so I don't complain.
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Ferrari F430 Scuderia w M6, Snapper rear 13 HP
2008 Aston Martin DB9a, 2008 Lincoln MKZ, '53 Cadillac Coupe de Ville, '54 Fiat 8V, '52 Pontiac S8: many, many others in the past
The Snapper and the Ferrari are similar: red, engine behind driver, and the very best at what they do.
The FairTax is a proposed change to the federal tax laws of the United States that would replace all federal income taxes[1] with a single national retail sales tax. The plan has been introduced into the United States Congress as the Fair Tax Act (H.R. 25/S. 1025). The tax would be levied once at the point of purchase on all new goods and services for personal consumption. The proposal also calls for a monthly payment to all family households of lawful U.S. residents as an advance rebate, or 'prebate', of tax on purchases up to the poverty level.[2][3] The sales tax rate, as defined in the legislation, is 23 percent of the total payment including the tax ($23 of every $100 spent in total—calculated similar to income taxes). This would be equivalent to a 30 percent traditional U.S. sales tax ($23 on top of every $77 spent before taxes).[4]
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2007 Sky Red Line 5-Speed - 67k - Paid for, Trifecta tune, DDM Extreme BB/Clamps
1998 Civic EX - 5-Speed - 213k - Hey, it is cheap.
They describe the tax credit to actually be an interest free loan that has to be paid back when you sell your home. Doesn't sound so appealing now...
Where else can you get a 7500.00 loan for 42 bucks a month and pay no interest anymore. Like I said though, if you have a good plan for it. I plan to put it towards an energy efficient upgrade (geothermal HVAC) which should result in another tax credit for my 09 filing and increase my home value for more than 7500 bucks. It's a win win, no brainer this way. plus my utility bills will be a LOT less after the upgrades.
I usualy got back about 2800 a year so losing 500 of that plus the now additional tax deductions of the home I'll never really miss it anyway.
I just finished doing my pre-emptive filing on turbotax. What erk'd me is they have dropped claiming new (minimum low-E argon) windows from the eligible efficiency upgrades list. I lost out on another 2 grand there but it had to be done anyway. The old ones were original 1974 and were shot.
Oh well, I'm still going to be brining back over 10 grand this time round.
HMMM. what does my car need now
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DEEP, GT KIT,RK RAM AIR HOOD, DUAL WING, UP-SHIELD, EIB SPRNGS, DEJON CAI & I/C PIPES, CSTM EXHAUST,CSTM PAINT AND GRAPHICS, RMR STYLE BAR, LED AND ACCENT LIGHTS, CSTM GAUGE FACE, DASHHAWK, LAMBO DOORS, AVIC F700BT NAV, BONUS SUB & AMP, Prem. pkg w/leather, A/C, Auto, 18" chrome wheels, sport pedals, Backbone, Probeam, WERKS Tune.
"BLUE DEMON"
"For those who fight for it, FREEDOM has a flavor the protected will never know"
Luckily for me I don't need the $7500 loan nor would I want to have to pay it back, even if it is interest free. It will help A LOT of people though, I'm sure.
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