Tax season

[quiXilver]

how the hell are you guys getting all this money back? I made quite a bit last year for my age, and they withheld $1200 of fed tax, so wtf?

[clawhammer]

Originally Posted by quiXilver

how the hell are you guys getting all this money back? I made quite a bit last year for my age, and they withheld $1200 of fed tax, so wtf?

I made like $12500, paid like $1100 in taxes and I'm getting back like $400

[devaney]

i'm married and own property so that's why i personally get a decent return. i'm broke all year round so tax return time is like christmas! my hubby owes the irs money though so there goes half of this year's return! lol, he's on a strict allowance now.

[turtlecrxsi]

I still owe like $35 bux (was lots more) to the man from last year. So much for HR reps helping us make the most of our employment. Fuckers! If I do get some money back this year it'll go to bills anyway. Sux being a broke-mofo!

[quiXilver]

Originally Posted by clawhammer

I made like $12500, paid like $1100 in taxes and I'm getting back like $400

I made $17,391 and payed $1071.92 fed tax. I get $17 wohoo!

[BLU CIVIC]

married w/ 3 kids...get a lot back with kids...but not enough to cover what u spent on them during that year

but i just got my son a full face helmet and gloves and paid bills...so i have less than $100 left

[amy@af]

i still need to get mine done. it should be interesting as in 2004 we started a business and took 2 business trips (C.E.S. & S.E.M.A. both in Vegas)

i just got an idea the past couple of days. was considering making a thread on OT about it. check this out:

personal car ins. won't cover a commercial vehicle

commercial ins. (at least around here) won't cover a personal vehicle

part of our business is mobile 12 volt installs, meaning jer goes to them. he can't use his car for that as long as he has personal ins. if he switches to commercial then he can only use his car for work. same thing with my car, he was a better example. i got this idea to sell the 97 teg to the business. thats as far as the idea goes. i was going to make a thread asking if anybody knows the legalities on that. we're meeting with the tax guy sometime this week, i had planned on asking if it would be wiser to try and do it now since we already have a bunch of new business stuff we're already claiming....or should we wait until next year (meaning 2005 taxes)

blu, do you mind me asking or shall i make a new thread?

anybody have any input? any personal experiences on this subject?

[90civicracer]

I could tell everyone was getting their forms because my work shares a big building with H&R Block and they are packed, people pulling in every minute its crazy.

[CivicSpoon]

LadyNRedSi - I'm pretty sure you'll have to claim it next year, only because it wasn't registered as a commercial vehicle in '04. But I'm not a business major or anything like that, so it's just a guess. But it never hurts to ask the tax man

[CBURKE]

<------------getin $5200.00 back here baby, man i new kids were good for something.

[BLU CIVIC]

ami...don't mind

i actuall did my business on my taxes...was my first time...i used all my gas, rental, and other expenses...the only thing is to make sure u have ur receits...but they didn't ask at H&R if it was commercial or not, i just told them it was business related...she asked if i could prove it and i told her yes...she just asked for the total and told me to make sure i kept up with my receits...but if u want to use it for commercial...then i think u'll have to wait till next year

[BLU CIVIC]

CBURKE...my son would love u...his windows background was a pic of 2 guys doing a stoppie...he loves watching those videos

[Shaguar47]

Originally Posted by 90civicracer

Nope, Class of 2005 right here. 18th bday is in 5 days (superbowl sunday)

Damn, your 7 days older than I am and where both graduating this summer. That's really odd.

But on topic....I'm getting $400 since I started right 4th of july last year. So I'm going to junkyard and getting everything I need. Including a 5spd tranny, Sun visors, hopefully I can snag some actual decent cloth seats, rear cargo cover, rear speakers and maybe a good passenger side mirror cause my 4-door mirror just doesn't fit up right. Looks like someone hit it in a parking lot.

[CBURKE]

Originally Posted by BLU CIVIC

CBURKE...my son would love u...his windows background was a pic of 2 guys doing a stoppie...he loves watching those videos

i love them vid's do, but be damned if a girl don't come on and flash the cam and opps gotta turn it off.

have you son come by i'll teach him to stopie, then stand on the tank!!!
tell him to be carefull. Ones you get into this shit it's hard to stop and hard on you body (if you know what i mean)

[amy@af]

Originally Posted by BLU CIVIC

ami...don't mind

i actuall did my business on my taxes...was my first time...i used all my gas, rental, and other expenses...the only thing is to make sure u have ur receits...but they didn't ask at H&R if it was commercial or not, i just told them it was business related...she asked if i could prove it and i told her yes...she just asked for the total and told me to make sure i kept up with my receits...but if u want to use it for commercial...then i think u'll have to wait till next year

jer has been an independant contractor for 7 yrs, so we've already kinda had a business. we calim all the stuff you mentioned, always have reciepts. i have never gone thru h&r block though. i was warned by another business owner that h&r block will put up a red flag with your name if your a business...giving the irs a chance to take another look. is this true i don't use h&r. figured it was worth mentioning.

we have never had to have a business vehicle before. that is new territory. i suppose registering it as commercial in 2005 would make sense to claim it on 2005 taxes.