TNL US Tax Thread 2011

[Yoshi]

$1,600 isn't enough to make an investment worthwhile? Seriously?

[Thief Silver]

Isn't Rich an Economist? That doesn't bode well for your career...

[Rich]

$1,600 isn't enough to make an investment worthwhile? Seriously?

Not when I don't have that much money at the moment with rent checks due, I'd rather be risk adverse until I have a comfortable safety net.

And no, I'm not an Economist. I was just an econ major.

[Gooch]

I started working in October. I couldn't have been bothered to figure out how much I should have been paying for 3 months instead of the full year. I'd rather just give them a $1600 interest free loan for 4 months when current rates are at a whopping 1%. So it cost me what, $6 in opportunity cost? Oh yes, what a jackass I am.

Opportunity cost you lost, correct. But you're not giving anyone an interest free loan.

I wouldn't take on too much risk with $1600 in capital either, just use it to build off in terms of maintaining liquidity. Or if you have debt servicing costs greater than what you could have earned and don't need that $1600 for operating cash flow, you should have paid down principal.

[Hot Like Wasabi]

Getting nearly $5k back, would have been more but my wife's employer has a pre tax 401k program that she is enrolled and really fucks up the return. Most of the money we are getting back is going toward our shrinking debt. Hopefully by next year we will be debt free and have both of our vehicles paid off!

[Cowutopia]

I'm actually going to do this tonight.

[Cowutopia]

I should be getting an $800 federal refund. That's stupid. It's weird making actual money. I made 43k this year and was not promoted to full time until the end of february, so that's 2 months at part-time pay, and I just got a raise like a month ago with my promotion. I'm up for another raise next month. Next year looks promising. 50k?

I'll have to start paying attention to managing my money now. I'm almost 100% debt free as it is, and then it's time to start looking into investments and protecting my shit.
I've got to shop around on my car insurance too.

[FirstBlood]

My refund was $1 before I put in my student loan interest.

Whole Foods got that shit on lock down.

[dog$]

I was at +447... until I filled out Schedule M. I forgot they continued that into this year.

Dammit. Oh well. My next year might be totally different so hopefully I improve.

My refund was $1 before I put in my student loan interest.

Whole Foods got that shit on lock down.

God damn! You win. Impressive.

you're not giving anyone an interest free loan.

What would you call it? Not trying to be a bitch, genuinely curious. I mean, yes, excessive withholding is not the same as a bank loan, but what is a better simple phrase to convey the point?

I was hoping you'd post here after I read the article you posted about corporate taxation. I assume that tax discussion doesn't interest you as much as economics but if anything I'd like to hear your general stance on how things are or what needs to be addressed.

ps: I can only imagine what your Schedule D looks like.

[mollipen]

Should be getting $550 or something like that back. As I was expected to have to pay taxes instead of getting anything back, I'll take it.