The 2007 Tax Refund Thread..

Stocker · February 09, 2008, 07:46:52 PM

Haven't even started on my taxes yet... We usually get a small Federal refund, some of which goes to pay state taxes. If any is left, it will go into the checkbook to pay monthly bills.

Stocker · February 09, 2008, 07:52:31 PM

Quote from: cheesemaker on February 09, 2008, 05:59:22 PMWe just got ours yesterday! Just over $5400.

Cheesy, if you had reduced your witholding and invested that $5400 throughout the year, by now you would have... well, maybe $4000.

crawlerdan · February 09, 2008, 08:01:25 PM

im gonna buy this roo i think

and put wheels tires and struts on the lexus
and buy the wife some new glasses

and buy a pizza

KDXSR5 · February 09, 2008, 08:07:07 PM

I am gonna fund my engine rebuild with it.

Lady Di · February 10, 2008, 05:45:55 AM

Quote from: brainlessfool on February 09, 2008, 07:06:11 PM
what ever she wants to spend it on. $I\'m Down$

lilrichey85 · February 10, 2008, 05:50:28 AM

I want to keep about 300 for the runner and put the rest on BILLS!

Not A Toy · February 11, 2008, 12:35:50 PM

Im going to buy a locker, dont know if it will be a automatic or a detroit/arb.. maybe some new rubbers, sliders. I wish i was getting more but the rest is going to bills. =(

MiniSimp · February 11, 2008, 01:08:55 PM

Well, I could buy a new Tacoma, but unfortunately I have to pay off my central heating and air, and my TV.

COToy91 · February 11, 2008, 01:14:17 PM

Paying off bills unfortunately, but hopefully a little left for the truck, I really need to rebuild my front axle..... some longs maybe, gussets

mudmaster · February 11, 2008, 01:35:56 PM

wedding and honeymoon

Wermz84 · February 11, 2008, 03:17:50 PM

Quote from: MrsWillyMammoth on February 10, 2008, 05:45:55 AM

TheCookieMonster · February 11, 2008, 03:29:33 PM

i ordered my crawl box from

the day i got mine back

....got another 5 weeks of waiting

....o well im still happy!!

p_nueve · February 12, 2008, 07:37:23 AM

2k going toward bills.

Wife gets about 1k.

I get about 1k.

Researching what I can get for my 05 taco.

Rocksurfer · February 12, 2008, 07:52:50 AM

Haven't done mine yet, but if my calculations were correct (and I timed it right) I should get around $100.00 U.S. back this year. The 1st 3 mos. of last year I didn't have any taxes taken out at all and that should have ate up any refund I would be expecting now.

BLACKDOG · February 13, 2008, 10:46:24 AM

Depends on what I get. I haven't even started my taxes yet, but I'm sure they'll be going to bills, or to the house that I'm looking at buying.

Lady Di · February 13, 2008, 11:44:19 AM

Quote from: Rocksurfer on February 12, 2008, 07:52:50 AM
Haven't done mine yet, but if my calculations were correct (and I timed it right) I should get around $100.00 U.S. back this year. The 1st 3 mos. of last year I didn't have any taxes taken out at all and that should have ate up any refund I would be expecting now.

Is there some sort of online calculator to figure out how you should have your tax deductions set up to maximize your paycheck but still be in the black with the IRS?

Wermz84 · February 13, 2008, 04:56:11 PM

I just claim 0 all the time. And it was a good thing to this year, if i hadn't i would have owed. Given my tax bracket, age, single and do not own a house..

Rocksurfer · February 13, 2008, 10:22:09 PM

Quote from: MrsWillyMammoth on February 13, 2008, 11:44:19 AM
Is there some sort of online calculator to figure out how you should have your tax deductions set up to maximize your paycheck but still be in the black with the IRS?

I dunno, I just go by what I got back the year before and how much is being removed per check and had my work stop taking out any taxes by filing exempt until that amount is almost there. I know taxes change every year but not enough to make a difference in what I have them do.

blackdiamond · February 15, 2008, 05:57:45 PM

Quote from: MrsWillyMammoth on February 13, 2008, 11:44:19 AM
Is there some sort of online calculator to figure out how you should have your tax deductions set up to maximize your paycheck but still be in the black with the IRS?

Yes - www.irs.gov has some great information if you take the time to look it up.

http://www.irs.gov/individuals/article/0,,id=96196,00.html

If you know your final tax bracket you should be able to get really close.

lilrichey85 · February 16, 2008, 05:30:12 AM

Got mine and paid a crap load of bills and im going to keep a little bit out to have my 3rds set up by a local shop. If i have any left I might buy some wheel spacers or seats.

Lady Di · February 16, 2008, 06:22:46 AM

Quote from: blackdiamond on February 15, 2008, 05:57:45 PM
Yes - www.irs.gov has some great information if you take the time to look it up.

http://www.irs.gov/individuals/article/0,,id=96196,00.html

If you know your final tax bracket you should be able to get really close.

Thanks bd

te51levin · February 17, 2008, 11:35:38 AM

It looks like we're gonna owe about $132 if we have it figured right. I can handle paying $11 per month in one lump sum. If I'd have paid more in and gotten a refund, that money wouldn't have been available throughout the year, and since we can't seem to actively save anything, I jam what I can into a 401(k) and an employee stock purchase plan.

JanMarie13 · February 25, 2008, 05:46:21 AM

Well DAMN THE MAN!!!! Due to selling our stupid house last year, which happened to be 66.6% rental property, we are getting SCREWED.

We have to pay in almost $5,000!!!!!!!!!

We barely even made out by that much on the sale, but being rental property they don't take into account any mortgage you had on the place or anything. Just the total sales price. Our accountant got the total capital gains down as far as possible, but this is the best he could do.

$I\'m Down$

Lady Di · February 25, 2008, 09:40:43 AM

Wow that's a bummer MPA!!

Damn stupid government

Not A Toy · February 25, 2008, 09:56:11 AM

well im only getting back 4400 mrspat so dont feel bad. I will spend it on something really nice like arb's front and rear.. ha no were just gonna put it in the bank and let it simmer. (until i decide wha to buy ha)

Plekto · February 26, 2008, 12:08:17 AM

Let's see...

1:Get new place/apartment to live(it's a large refund - rent I can handle, deposit... comes out of refund check)
2:install entire new exhaust and header(have header already).
3:replace starter and ignition switch and hopefully not need a new flywheel or clutch.(sigh)
4:fix rear brakes and a few other minor gremlins like the oil pressure gauge and so on - mostly replacement bits for the truck.
5:Build PC ($200 - got the rest for nearly free) - sell old pc for $200 - net $0, but gotta have the money first to build the replacement, of course.
6:If I have any money left over, buy a Carvin bass.

Hammerhead · February 26, 2008, 12:30:01 AM

Payin' bills. I can think of things I'd rather do with it but...

unclejpl4x4 · February 28, 2008, 05:02:29 AM

I want my $$$ im poor

Plekto · February 28, 2008, 11:44:15 AM

My trick is to claim 0 deductions even though I have a son. It's not as good as investing, because I don't get interest on it, but I've not paid taxes for nearly two decades doing it. And it's a savings account in a way for people like me who can't seem to save money any other way.

DTB · February 28, 2008, 11:45:14 AM

Quote from: Plekto on February 28, 2008, 11:44:15 AM
My trick is to claim 0 deductions even though I have a son. It's not as good as investing, because I don't get interest on it, but I've not paid taxes for nearly two decades doing it. And it's a savings account in a way for people like me who can't seem to save money any other way.

uhhhhh...have you ever heard of the IRS?

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The 2007 Tax Refund Thread..