I just wrote two checks out. One to the U.S. Treasury and one to the Delaware Division of Revenue. What a new and incredibly shitty feeling. Since I'd previously been a child / student all my working life I'd always happily filled out my tax returns expecting to get a refund.
.... Now I know what the rest of the working public feels like come tax time. This sucks.
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I was on an IRS payment plan all throughout the Clinton administration.
After Bush's first year in office I got a $9000 refund.
Go figure.
We just wrote both ou checks as well... but, technically speaking, it is better than you owe them money, than the other way around - otherwise you basically gave the government a free one-year loan.
You're an adult now!
Welcome to the club of subsidizing drones. We work so you don't have to.
Actually got a refund this year because of the new house.
I'm not planning on getting used to that.
I always try to stack the deck so that I get a really big return.
I am afraid if I don't that one day I will find myself owing thousands. And am not sure I'd be able to bring myself to pay thousands of dollars to a government of which nearly all the members of the President's cabinet and most of Congress have failed to pay their taxes.
So I just make sure I am never placed in that situation. Kind of like, avoiding those places that might increase your need to use your firearm for self-defense.
Avoidance is the best defense....
I'm with The Saj on this. Yes, I know, if you get a refund it's an interest-free loan to the .gov, blah blah blah.
However, I've also had years where I've had to write large checks to the .gov.
I prefer getting large checks rather than giving them...
Still when the check comes, I know that I'm GETTING nothing, instead I just GAVE the .gov an interest-free loan.
I prefer cutting a check or paying nothing at all.
I loath writing a check to the .gov, so I consider my withholding to be a non-interest-bearing payroll savings plan. After all, given the interest rates banks are paying today, it's not like it would have earned much anyway.
Welcome to the world of the taxpayer. Check your old returns and see if you actually got back more than was withheld from your income. Now that you're a sucke . . . err, productive citizen, you get soaked like the rest of us.
"Check your old returns and see if you actually got back more than was withheld from your income."
Oh hell no, somehow I think that'll just piss me off....
Weer'd - I wish I were in a position to make a downpayment on a house soon since there's currently a $8000 tax credit out there.
Oh, and I should mention that I didn't go full-time at The Firm until October of 2008, so even working part-time for 3/4 of the year I still got screwed.
Welcome to the big table Mike.
Do save up for a house starting now! You can write off all the closing costs and all the interest for the duration of the loan. I bought my house 11 years ago and have only had to pay the IRS once because I sold some stock.
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