Plans crushed by taxes

[Brasscatz]

I had permission from the wife to purchase a long arm upgrade kit with our tax return. We both work, both claim ZERO dependents, and this year we end up OWING just over $2,000. WTF???? That completely kills any hope of buying Jeep parts since I don't get much play money to begin with. :bang: :bang: :bang:

[4.3LXJ]

Something is not right there. Lets bear it for our fine Progressive tax code.

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[Firemanray]

I thought you were self employed. If you and your wife receive W-2 forms from your employer something is wrong with either the way your companies deduct, the way your taxes are file, or you're a "baller" and can afford to do whatever you want with your jeep.

I would do some investigating before I cut the check. Even our screwed up tax code should not cause you to pay in holding "0" deductions. Heck you may come out ahead filing separately as far as that goes.

[XJ Wheeler]

That's messed up! Sorry to hear bro. Maybe you could start a kickstarter or something. :D

Sent via messenger pigeon - i talk, he types.

[Brasscatz]

Thanks guys. No, not self employed, I work for AutoNation. The only thing I can figure is that since I got my promotion and raise last year, that I myself and my wife by herself are still in the same tax bracket, but if you combine our incomes we are in the next one up. So probably the amount withheld is at the tax rate for the bracket that we are each in individually and not jointly.

I am going to talk to my wife's uncle that owns a few tax store locations and see what he says. Filing individually will also mean we can't use our deductions. Taxes just plain suck. I'd say a few more words, but big brother is probably watching.

Kickstarter... lol

Sent from my Samsung Galaxy S4 because my microwave couldn't do it

[Firemanray]

Yeah the tax code pretty much blows!!! Even though I pay stupid high taxes, (somebody's gotta support the 47% that don't pay taxes), I find some really nice perks from owning my own company. I get to write off all the cool fab equipment I buy, I even got to write off a jet ski one year because it was used for business.

I really hope you can find a loophole to keep your money. The guvment should NEVER interfere with anyones jeep fun!

[EekGirl96]

eh,im in the same boat (not having to pay $2000 but having to pay and not getting anything back). It really sucks cuz last year I got alot back and I was going to use my taxes to get another XJ

Oh well,...guess I better start saving :(

[Joliet Johnny]

Did healthcare start being counted as earned income this year? I have my w2 sitting on the desk but am fearful to grab the pen and form.

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[Brasscatz]

I have no clue man.

Today, I submitted a new W-4 to my HR department. The changes I made were "Married but withhold at higher single rate" instead of just "married" and I opted to withhold an extra $50/paycheck ($1200/year). And still claimed "0". I figure that way there's no way I'll have to pay next year. This is rediculous.

Sent from my Samsung Galaxy S4 because my microwave couldn't do it

[prcjeep]

I hear ya Jim, up until this year i've always got about 2k back from uncle sam. This year im $600 into the next tax bracket, so i paid higher percentage in taxes and I'm only getting back about $300., Im just glad I don't have to pay.

[bigjim350]

In the 11 years me and my wife have been married this is the first year we got anything back. So.....thanks Jim :p :D

[denverd1]

I'm 1099 so I'm ALWAYS trying to keep jeep and tax $$ separate.

Patrick, I'd try to find some way to deduct that last $600. Could make a differrence.

[prcjeep]

yeah, I tried, I played around with the numbers for a couple days and it wouldn't change anything

[Firemanray]

I'm 1099 ................

Self employment tax is a beast (1099 people), the guvment takes and takes, they don't like you working for yourself. I pay in thousands every year only to pay more when I file. I know people getting a check for thousands when they only pay in a few hundred. I don't call that "getting back" since they didn't pay it in to start with. :bang:

[bigjim350]

I know people getting a check for thousands when they only pay in a few hundred. I don't call that "getting back" since they didn't pay it in to start with. :bang:

Wish I was one of those people. Only reason we got a decent amount back is because we paid in A LOT. Got back around 10% of what we paid in. Me and my wife have them take out the most you can, and take out about 25 extra from both of our paychecks.

[Brasscatz]

Well, my check was quite a bit smaller this month because of ObamaCare and overall taxes going up. Now that I've changed my w4 I can expect to be broke from now on. As long as I don't have to owe again...

Sent from my Samsung Galaxy S4 because my microwave couldn't do it

[Brasscatz]

Well there you go, Obama. You are now the proud owner of $2,100 MORE of my money. Screw you, you #@$@# jerk.

[Brasscatz]

If big brother is watching that last post.... I meant "screw you" in the nicest way possible :P Just stop taking so much of my hard earned money.

[bluedragon436]

If big brother is watching that last post.... I meant "screw you" in the nicest way possible :P Just stop taking so much of my hard earned money.

I agree.. I hate that they take so much from us, and then decide to take even more from what little bit they were going to "give" back.. I almost rather not even waste the time with doing my taxes, as it is so depressing to see how much they take from me each year, and knowing I won't get nearly what they take from me back each year..

[Rocco83]

People actually do their taxes? Silly.

[Firemanray]

Well there you go, Obama. You are now the proud owner of $2,100 MORE of my money. Screw you, you #@$@# jerk.

Got mine back today from the accountant, I have to ante' up $5200.00 by April 15 on top of what I've already paid in. :bang::bang:

[4.3LXJ]

We're paying this year too

[Rocco83]

I don't understand. Is it a married thing or something? I almost always get 3-5k back. I have H&R do mine incase something gets screwed up they can pay. The only time I've ever had to pay it was a $7 check for school tax that I apparently didn't pay enough.

[4.3LXJ]

What happened is that all your democratic buddies, especially that one in the white house, were tired of having money in the treasury they had to refund. I remember the comments on this in case it slipped your sphere of influence. So they rewrote the tax tables so that wouldn't happen.

[07Negative]

I've never in my life wanted to be a broken broom stick up a politicians ass so bad reading about that. I stopped filing taxes 5 years ago. ****em!

[nickyg]

Do you have a dog? They sleep all day and don't clean up after themselves.
On paper they look the same as a teenager, I think you can claim them as a dependent.

[Brasscatz]

lol, would love to claim him, but my understanding is that if I claim a dependant then they will take less out of my check and I'll have to pay more come tax time.

[4.3LXJ]

I think I am getting a social security number for the cat

[denverd1]

Do you have a dog? They sleep all day and don't clean up after themselves.
On paper they look the same as a teenager, I think you can claim them as a dependent.

I've been writing mine off for years. All vet bills and expenses go under "home defense". Can really make a difference if they have health problems like my last one did. in 2011 I deducted a couple thousand for him. Thx pooch.