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Dec 30th, 2023
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 Re: Let's talk taxes.
[Re: Moto-Moto]
#12203979
04/18/17 01:37 AM
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Joined: Sep 2005
Posts: 27,579
Uncle Zeek
aka "Dad"
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aka "Dad"
Joined: Sep 2005
Posts: 27,579 |
Did you owe or get a refund? Not really a meaningful question. The meaningful question is "What was your effective tax rate for 2016?" Mine was zero, but only because I had a huge tax credit for all the tuition and fees I paid. Trust me, I'd rather have paid $2,000 in taxes than $22,000 in tuition.
"Decency is not news; it is buried in the obituaries --but it is a force stronger than crime" ~ Robert A. Heinlein
Artim Law Firm, PLLC
Estate planning & tax attorney
2250 Morriss Road, Suite 205, Flower Mound, Texas 75028
972-746-0758 mobile
zac@artimlegal.com
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Re: Let's talk taxes.
[Re: Moto-Moto]
#12203994
04/18/17 01:43 AM
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Joined: Jul 2004
Posts: 5,363
Alex K.
TFF Celebrity
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TFF Celebrity
Joined: Jul 2004
Posts: 5,363 |
Haven't had a refund in 5 years. Owe more this year than ever 
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Re: Let's talk taxes.
[Re: Uncle Zeek]
#12203999
04/18/17 01:47 AM
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Joined: Apr 2009
Posts: 30,012
Moto-Moto
OP
TFF Guru
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OP
TFF Guru
Joined: Apr 2009
Posts: 30,012 |
Did you owe or get a refund? Not really a meaningful question. The meaningful question is "What was your effective tax rate for 2016?" Mine was zero, but only because I had a huge tax credit for all the tuition and fees I paid. Trust me, I'd rather have paid $2,000 in taxes than $22,000 in tuition. Everyone else seemed to understand what I was asking..... 
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Re: Let's talk taxes.
[Re: Moto-Moto]
#12204014
04/18/17 01:53 AM
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Joined: Sep 2005
Posts: 27,579
Uncle Zeek
aka "Dad"
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aka "Dad"
Joined: Sep 2005
Posts: 27,579 |
Did you owe or get a refund? Not really a meaningful question. The meaningful question is "What was your effective tax rate for 2016?" Mine was zero, but only because I had a huge tax credit for all the tuition and fees I paid. Trust me, I'd rather have paid $2,000 in taxes than $22,000 in tuition. Everyone else seemed to understand what I was asking..... Oh, I know, but that's the trap that the IRS wants everyone to fall into. "How much of a refund did you get?" as opposed to "How much did you end up paying in taxes?"
"Decency is not news; it is buried in the obituaries --but it is a force stronger than crime" ~ Robert A. Heinlein
Artim Law Firm, PLLC
Estate planning & tax attorney
2250 Morriss Road, Suite 205, Flower Mound, Texas 75028
972-746-0758 mobile
zac@artimlegal.com
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Re: Let's talk taxes.
[Re: Bee'z]
#12204017
04/18/17 01:54 AM
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Joined: Oct 2012
Posts: 25,353
ReelBusy
TFF Guru
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TFF Guru
Joined: Oct 2012
Posts: 25,353 |
I am hoping to keep it under 17k this year for a change  Really helps when you set it up right the first time lol. Filing as a Sub S helps a bunch!
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Re: Let's talk taxes.
[Re: ReelBusy]
#12204021
04/18/17 01:56 AM
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Joined: Jul 2015
Posts: 19,770
Bee'z
honey boo boo
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honey boo boo
Joined: Jul 2015
Posts: 19,770 |
I am hoping to keep it under 17k this year for a change Really helps when you set it up right the first time lol. Filing as a Sub S helps a bunch! If the previous 2 accountants would have told me this back in 2013 I would be in a much better spot right now. Live and learn and just make it happen 
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Re: Let's talk taxes.
[Re: Moto-Moto]
#12204135
04/18/17 02:52 AM
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Joined: Jun 2014
Posts: 235
NDN98
Outdoorsman
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Outdoorsman
Joined: Jun 2014
Posts: 235 |
Got back $52. Usually go back and for the between paying and owing.
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Re: Let's talk taxes.
[Re: Moto-Moto]
#12204250
04/18/17 04:10 AM
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Joined: May 2005
Posts: 52,098
grandpa75672
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Joined: May 2005
Posts: 52,098 |
I quit filing four years ago.
It ain't what they call you, it's what you answer to.... W.C.Fields
I know a little about a lot of things but not a whole lot about anything....CGD
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Re: Let's talk taxes.
[Re: Moto-Moto]
#12204264
04/18/17 04:20 AM
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Joined: Oct 2007
Posts: 5,086
DavidWhatley
TFF Celebrity
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TFF Celebrity
Joined: Oct 2007
Posts: 5,086 |
Several years ago a good friend was crying as he wrote a check for 472,000. That was on top of what he had paid quarterly. Life's a B when you make that kind of money.
"Every man must live with the man that he makes of himself, and the better job he does at molding his character and improving his mind, the better company he will have."
Pauline Whatley
A wise man once said.......Nothing
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Re: Let's talk taxes.
[Re: Moto-Moto]
#12204342
04/18/17 10:28 AM
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Joined: Mar 2015
Posts: 12,145
UGLYSHCTICK
TFF Guru
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TFF Guru
Joined: Mar 2015
Posts: 12,145 |
If it wasn't for Ag. I'd be paying. Got some back. Not near what I had to put in though.
Just want to make folks smile, and spit coffee on their keyboard.
If you put beans in your chili, you don't know beans about chili.
God doesn't create temporary people, you will spend eternity somewhere. Choose wisely.
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Re: Let's talk taxes.
[Re: Moto-Moto]
#12204354
04/18/17 11:02 AM
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Joined: Oct 2005
Posts: 85,958
John175☮
MACHO MAN
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MACHO MAN
Joined: Oct 2005
Posts: 85,958 |
I paid too much for the services rendered. I get back $6k from the feds and about $200 from the State of New York for the days I worked in their state.
“Do not pray for easier lives. Pray to be stronger men.” -JFK
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Re: Let's talk taxes.
[Re: Uncle Zeek]
#12204363
04/18/17 11:24 AM
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Joined: Apr 2014
Posts: 8,389
Jpurdue
TFF Celebrity
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TFF Celebrity
Joined: Apr 2014
Posts: 8,389 |
Did you owe or get a refund? Not really a meaningful question. The meaningful question is "What was your effective tax rate for 2016?" Mine was zero, but only because I had a huge tax credit for all the tuition and fees I paid. Trust me, I'd rather have paid $2,000 in taxes than $22,000 in tuition. This is exactly correct. I got back just shy of $10K this year. That doesn't make me feel any better about the amount I paid them over the course of the year which was many times that $10K.
Last edited by Jpurdue; 04/18/17 11:25 AM.
"Bragging may not bring happiness, but no man having caught a large fish goes home through an alley." -A.L. www.LunkerLore.com
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Re: Let's talk taxes.
[Re: Jpurdue]
#12204469
04/18/17 12:39 PM
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Joined: Mar 2008
Posts: 34,575
cocodrie
TFF Guru
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TFF Guru
Joined: Mar 2008
Posts: 34,575 |
Did you owe or get a refund? Not really a meaningful question. The meaningful question is "What was your effective tax rate for 2016?" Mine was zero, but only because I had a huge tax credit for all the tuition and fees I paid. Trust me, I'd rather have paid $2,000 in taxes than $22,000 in tuition. This is exactly correct. I got back just shy of $10K this year. That doesn't make me feel any better about the amount I paid them over the course of the year which was many times that $10K. Yup. I paid an enormous amount in taxes, got a refund on some stuff, but doesn't mean I'm happy about it.
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Re: Let's talk taxes.
[Re: Moto-Moto]
#12204487
04/18/17 12:49 PM
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Joined: Feb 2004
Posts: 26,660
Bass_Bustin_Texan
TFF Guru
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TFF Guru
Joined: Feb 2004
Posts: 26,660 |
Work the system, don't let it work you.
You can avoid having ulcers by adapting to the situation: If you fall in the mud puddle, check your pockets for fish. ~Unknown
Open your eyes & look within, are you satisfied with the life youre living.
No matter how good or bad you have it, wake up each day thankful for your life. Someone somewhere else is desperately fighting for theirs.
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