USAians. How many of us have yet to do our taxes?

[Eli]

What do people who trade stocks do? Write stuff down every time they sell a stock?

[Arrian]

It's best not to get too much back. If you get lots back, that means you've essentially given the government an interst-free loan over the course of the year. Better to own some at the end, IMO, though not as much as we owed this year.

-Arrian

[Arrian]

Originally posted by Eli
What do people who trade stocks do? Write stuff down every time they sell a stock?

You should get a year-end form from your brokerage or what have you. You have to attach that form to your taxes (along with the form you get from your employer(s) with your wages/deductions).

-Arrian

[Eli]

If you get lots back, that means you've essentially given the government an interst-free loan over the course of the year.

Now that's theft. How do they justify not indexing it to the CPI or to the interest rate on T-Bills or something?

[Arrian]

Justify? This is the US government we're talking about here, Eli.

Consider, however, that since we owed money this year, we essentially got an interest-free loan from the government. It cuts both ways...

-Arrian

[Donegeal]

Originally posted by Arrian
It's best not to get too much back. If you get lots back, that means you've essentially given the government an interst-free loan over the course of the year. Better to own some at the end, IMO, though not as much as we owed this year.

I disagree with you Arrian. I got over $9000 back this year, and I do it on purpose.

One year I actually planed to do something with my tax return. That year I actually owed $650. SO not only did I not have the money to do the project that needed to get done, but I owed more taxes. Right then and there I vowed to never have to pay in.

Sure the government get the interest on my money, but even at 7% (which savings accounts don't get), thats only $630 that they would have gotten.

Big deal.

Well worth it to both a) know that I'm not going to have to pay in and b) get myself a nice big check to play with (the money is free and clear and not accounted for in my family budget. Last year I bought a 42" Plasma. This year its going toward helping me finish my basement.

[pchang]

I fhinished long ago

My refunds were received over a month ago.

[Arrian]

But had you withheld less, you'd have had access to your money during the year, instead of getting a big check in April or whenever you filed your return.

I'd rather owe (a small amount) than get back. To each his own, obviously.

-Arrian

[Donegeal]

GRRRRR!!!!

DIE!!!!!

[Donegeal]

Originally posted by Arrian
But had you withheld less, you'd have had access to your money during the year, instead of getting a big check in April or whenever you filed your return.

I'd rather owe (a small amount) than get back. To each his own, obviously.

-Arrian

Actually, if I had withheld less, my wife would have had access to it and she would have spent it on stupid stuff that we didn't need or wouldn't gain in value (she's a shopaholic).

[Arrian]

Ah, see this is why YMMV

-Arrian

[Donegeal]

Eh?

[Arrian]

Your Mileage May Vary.

In your case, the wifey makes a refund preferable.

In mine, not so much.

-Arrian

[Lord Avalon]

I did mine Sunday night - well, technically it was Monday morning.

Getting a little over $800 back total. Maybe I'll finally get around to upgrading my computer (not that I needed the refund for it, but it doesn't hurt).

[OzzyKP]

Frick, I can't find any of my tax forms and such..