Tax Time

**jim5cents** · 02-13-2009, 12:30 PM

Probably one of my least favorite activites. Anyone have any tips or suggestions on how to give yourself less of a headache when paying your taxes?

**sabby** · 02-13-2009, 01:35 PM

Depends on how much you owe and what your income is. You can:

Pay estimates quarterly (well the 15 of April, June, September and December).
Take less exemptions on your check, that way your withholding is more.

**jim5cents** · 02-13-2009, 02:37 PM

Quote:

Originally Posted by sabby

Take less exemptions on your check, that way your withholding is more.

yeah, that is the kicker...increased the contribution to the 401 this year, so taxable income was less, thus, less was withheld.

**sabby** · 02-13-2009, 03:39 PM

Unless your exemption is zero you can lower your exemptions. For example, my exemptions are at 4 (myself, wife, and two kids). If I wanted more withheld I could reduce my exemption to 3 or 2 and more money would be withheld. If your at zero exemptions, you can ask your employer to withhold more from your check and it should ease the pain come April 15th.

**cormark13** · 02-14-2009, 10:28 AM

I once shared this exact stress... I'm not really a "numbers/finances" guy. But I found a solution that has worked wonders for me, and I think it could work just as well for everybody.

I married a CPA. Best decision I ever made in my life. You think a woman can't get any sexier, and then she says something like "well, taxes are getting close... I guess I'll get those out of the way this morning." That'll turn a man on, right there.

**Kugyince** · 02-15-2009, 04:53 AM

There are numerous phrases the wife could say to turn me on. I don't think the word taxes would be included in any of them.

**TrakMastaTom** · 02-15-2009, 12:41 PM

Quote:

Originally Posted by Tenser

There are numerous phrases the wife could say to turn me on. I don't think the word taxes would be included in any of them.

What about, "Screw doing the taxes, let's get crazy."?

**jeckel22** · 02-15-2009, 05:16 PM

I love tax time. I got back about $7500 total. About $7300 was federal and only $200 was state. (I claim zero throughout the year).

**jim5cents** · 02-16-2009, 09:02 AM

so you are a drug dealer?

**Tails** · 02-16-2009, 09:38 AM

Quote:

Originally Posted by TrakMastaTom

Quote:

Originally Posted by Tenser

There are numerous phrases the wife could say to turn me on. I don't think the word taxes would be included in any of them.

What about, "Screw doing the taxes, let's get crazy."?

LMFAO

**Kong** · 02-16-2009, 10:17 AM

I don't let the government hold any money for me during the year. That way I can invest my tax return throughout the current year.

Example Jeckel, if you had filled exempt from backup withholding you would have received an additional $650 a month in your pay check (assuming you received all of your withholdings back - more if you did not). You could then invest that money during the year. If you deposited that $650 in a 5% savings account each month then at the end of the year you would have made over $1,300 in interest alone plus if you had an emergency during the year you would have extra money to pull from.

The down side to this is if you do not save that money and you owe taxes then you will be in trouble next April. And you will not get a tax return at the end of the year because you are getting it during the year. It is more of a headache and takes discipline to save the money instead of spending it but if you can do it then it is like getting a raise.

You can file for withholding exemption on your W-4 form when you start a new job.

**jim5cents** · 02-16-2009, 05:23 PM

ah...i do love alcohol...so i had a couple of drinks and went back and checked them again, turns out i only owe 40 bucks, which is fine. personally, i would rather pay the small amount or be spot on with the withholding, i'm not interested in giving the gov. an interest free payment through out the year.

**sezthemank** · 03-09-2009, 08:40 PM

omg
that made me realise
ill have to pay my tax

ive not paid it for a while

(like a year)

**sezthemank** · 03-23-2009, 11:29 PM

What One Trillion Dollars Looks Like ~ market folly

doesnt seem that interesting but

what a trillion dollers looks like
you will be amazed

**jim5cents** · 03-26-2009, 08:13 AM

1 trillion in pennies would impress me more.

**sezthemank** · 03-30-2009, 05:39 PM

wow can you emagine

heres a 100 million pennies

( Click to show/hide )

**jim5cents** · 03-30-2009, 08:43 PM

nice pic...did the creator of that photoshop out all of the hobos trying to bathe in there?