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ALFKAD last won the day on February 9

ALFKAD had the most liked content!


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  1. Was it a big deal when Hillary lied about the email scandal?
  2. Russia has been trying to defeat the US on many fronts longer than you have been alive. Relax, we are going to be fine. The “fair investigation” you seek has been conducted, and found wanting. Let’s let it die a quiet, natural death, as it should have 18 months ago, eh?
  3. Are you trying to take over for NB2? That would be MHBA. Ironic, this forum being talked about on Reddit. Share the link? I wanna see what they are saying about usn’s.
  4. Gotta be the weakest meme in CEHST history. Try again...
  5. I have to admit I am “hooked” on Trubo Tax. I pay around $55-60 to compute, but mail it in paper and don’t pay extra to e-file. It’s handy when a software remembers your previous years’ info, such as depreciation on home and rentals, and you don’t have to worry about it. But I AM all about $free.99!!
  6. Not sure that anything the tax evader says is relevant these days. Certainly not to me.
  7. I ran the 2210 just now. Line 14 ended up being $642. If I pay 4/15, that’s $23.13. If I pay today, I only have to pay $17.38. Looks like Turbo Tax was spot on. The penalty ended up being 3.603% of the amount underpaid (90% of total tax minus what I actually paid), with a discount of 0.016% per day if paid prior to 4.15. Still gonna wait and let them calculate it and send me a bill.
  8. BINGO! On the bold part. To illustrate the tax law difference, my income went up from 2017 by an amount that should have cost me an additional $1836, when in fact, my taxes only went up $864, resulting in $972 more in my pocket. This is my actual tax savings realized with the new tax law.
  9. I’m sure we all start out our adult tax lives like this, because we are not properly educated in school nor at home. I have no idea what my parents’ taxes were like; they never discussed it with me. Nor saving money, because they never saved. My dad was always the “if there is money in the checking account, I can write another check” type. Mom tried to save, but wasn’t able to unless it was cash in a cookie jar. (So I hear you loud and clear, @NikLR!!). My brother always has the max taken out, and is so happy when he gets a return of $10,000. But what a waste of interest! In your situation, I would calculate how much you owe the states (assuming you owe in two due to your situation), divide by 12, and have that additional amount taken out each month (unless we are talking a few hundred, and if you maintain sufficient savings that paying such won’t hurt your budget). Federal can be done the same way, sort of, using the W4 calculator thingy. The ULTIMATE goal is $0 at tax time. Means you paid what you owe, and no more. What I am talking about will most likely not really net you much money, and some folks will probably operate with the idea of “it’s not worth the effort to save money, and I’d rather be safe than sorry”... But my bank just offered me a 6-month CD at 3%, which is a VERY good deal. Let’s say I think I will owe $2000 next year, so I purchase a $3000 CD just to be sure. In two periods, I will have earned $90 in interest, plus have the $3,000 in principal, which allows me to pay my (underpaid on purpose) taxes, which ended up being $1350 next year (hypothetical). Now if I put another $1350 in with the $1650 remaining, I am back up to $3000, plus the $90 in interest, and I start another CD for 2 6-month periods. Next year, I will have made $92.70 in interest, and my taxes will be covered without fear of where will the money come from. Doesn’t sound like much, right? But in 10 years of doing this tiny little thing, I will have earned $1031.90 in interest. After 20 years, the interest will be $2418.74. Or, I could keep letting Uncle Sam use my money for free and have earned $0. (Of course, this example takes on new meaning if a person owes say $10,000 a year in taxes). It’s not always easy to see the benefit of savings, and as Americans, or at least lower-to-middle-class Americans, we don’t tend to educate our children well on finances. I know I wasn’t. I started early with my kids - Every dollar they got for Xmas, birthdays, etc., they had to give me 25% to put into their savings accounts. They grumbled about it at first, of course. But after a year or so of it, my son was smart enough to ask me what his balance was one day. When he saw how much was in the account (around $1200 IIRC), the lightbulb came on full-bright. He would give me most of his gift money. When I asked if he was sure, his response was, “Yes, I don’t really need anything, because you take care of all my needs. The stuff I want is often sill. I’d rather have money in savings! Voila! I though. Success as a parent. Years later, I tried to convince my son to start a ROTH IRA at 17. He dragged his feet, but I was relentless. After he left home and was working on his own, I would text him every so often, reminding him how easy it was to start saving $50 a month. Once, I emailed him a chart showing him how, at his young age, he could be a millionaire by age 35 if he followed my advice (something which I wish MY parents had shown me!!). He finally got started, though I don’t think he is maxing it out yet, meaning millionaire status is pushed back several years, sadly). It’s all about education. It’s too late for me to ever make it big in the money department, but I am hoping my kids will see the value in saving, and pass it on to THEIR kids by starting the investment into my grandkids the day they are born. THAT’S the time to start saving, at birth. Best of luck to everyone here, tax time is never fun. But it’s a necessary evil.
  10. It would, but ever since HRC screwed Bernie out of the limelight, there hasn’t been a dumber politician to mock!
  11. Fair enough. My brother is like that. And it took me several years to get over that mind set. Owing the government is a GOOD thing. Means you got to use your money thru the year, as opposed to giving the IRS an interest-free loan, which is exactly what a refund is. Change your exemptions, calculate how much extra you bring home, put that money into an online savings account that makes 2.10%, and you will be money ahead next tax season, trust me! As for your friends... There is IRS help for calculating exemptions and such. It’s really pretty straightforward if one has a steady income. They just need to claim 3 or 4 exemptions each, most likely. Me, I claim married and 4, even though it’s just the two of us. Trouble is, part of my income is variable, and this year was low in write offs, so I ended up taking out to little taxes. Now I shall have an extra $200 taken out each month, and that should put me owing the IRS less than $1000 next year.