Tax Poll

[PShabi]

Just looking over my tax stuff right now. I guess I could've put in a selection for those who know they have to file, but haven't done it yet.

If that's you, select the "thanks for reminding me" choice.

[MAYHEM45]

I get all 300 bucks of tax I paid last year back. GG tuition and rent deductions. Oh yeah and cant forget about the GST checks we get back quarterly. I cant wait for the real world to smack me in the face.

[PShabi]

I ended up owing like $1200 last year. I made $1000 in quarterly payments this year, but I'm expecting some money back because I've got a huge deduction for the $$$ I spent moving out to Vegas this year.

[Aequitas58]

Already received federal return via direct deposit. State returns on the way.

[melioris]

I used to do our taxes by the "rounding" method, figuring the IRS doesn't really care if you are off by a little bit. Freaked my wife out when she found out about it and ever since she has done them.

Got the Fed direct deposit last week. With kiddies, buying a house, and moving, Uncle Sam gave a lot back this year.

[Boobie Lover]

I paid already. Sure is nice to have like 60% of my networth stuck in Neteller and then have to pay the IRS right afterwards. Hurray!

[PShabi]

I would have had these fucking things done but I STILL haven't received my W-2 from my job in Florida last year. I called them 10 days ago and they said they didn't have my addy out here in LV. It was supposed to be in the mail that day, but I'm still waiting.

On another note,

Today was the FIRST time I actually totaled up my results from 2006 poker play. I had a rough idea of where I was but didn't know for sure.

Brag: I came out up ~$15,000 for 2006!
Beat: I was up $12500 after May

The last 1/2 of 2006 was a fuck.

Brag: I've made $27,000 since I've started playing poker.
Beat: JD, SJay, and Boobie (maybe more) have all made that much in a month before.

[thrash1294]

I always file on last day.The reason bieng 90% of all audits have been handed out already.Its an odds thing.

[Robbr25]

I will probably owe money (not much) so I wait and do it during the NCAA college basketball tourney games

[Talking Poker]

LOL @ State Income Tax.

[Talking Poker]

Don't forget eejit! I'm in that group too, assuming you are counting tourney play.

As for my taxes, I had all my poker stuff prepared within the first few DAYS of 2007. My accountant has had all my info for a while and things were supposed to be done last week. I need to follow up tomorrow, but mine should be ready to be filed.

[PShabi]

I've finally got all my calculations together from everything but my W-2 from Florida. I just got done totaling all my receipts from the move, which have been sitting in my glove box for 6 months.

I spent $6k to move out to Vegas!!!!

[Kurn]

I'll file federal and RI state in 43 days, MA State in 44.

[PShabi]

Any advantage in waiting?

[Reel Deal]

LOL @ people that get back $.

[Kurn]

When you owe, you pay as late as possible.

[Reel Deal]

Word.

Edit: and you should always (if possible) try to set it up so that you owe just a little each year.

[PShabi]

If you end up owing more than "a little" don't you get penalized? It's basically viewed as taking an interest-free loan from Uncle Sam. No?

[Talking Poker]

There are guidelines. Don't quote me on this because these aren't the exact numbers, but it's something like:

-If you paid 90% (?) of what you owe
OR
-If you paid 100% of what you had to pay last year

...then there is no penalty. If you don't meet either criteria, then yes, there is a penalty.

Purely mathematically speaking, it's best to owe JUST under the amount you would need to owe that would cause you to be penalized. But realistically, overpaying is a very good "savings plan" for a people who can't save on their own and then have to come up with money at tax time.

For the average person, the amount of interest they could have earned by saving that money throughout the year and then paying taxes in April just isn't worth the headache.

[Reel Deal]

Take note Shay-be.