The Stimulus !

[Coronita]

To Diego Mamani – I'm not sure how the CC fee thing works. We've not owed Federal taxes ever now that I think about it. I just assumed you could pay via CC. Are there fees involved? If the fees are over 1.00 you're right, it wouldn't be beneficial. I'd earn say 1000 points on a 1000.00 tax bill which is 1/10 of a 10.00 gift card. Guess I'll pay by check. That will only cost me .41 and an envelope (my checks come free from B of A cuz I'm an
ooo-la-la Premier member – ain't I special :>) ) Thanks for the heads up on this…we're doing our taxes this weekend to see how bad the damage is!

 

convenience fee is typically 2-3%, which is typically more than most CC rebate programs are. At least this is the case for property tax.

 

BTW: if this is the first time you owe the IRS money, then you and your hubby are pretty generous giving the government an interest free loan in the previous years. If you were off by alot by getting huge refunds, you should consider upping your tax exemptions on your W2's so that less is withheld. Just make sure you either end up paying more taxes from the previous year, or you keep within 90% of the total taxes you owe by Jan (send in estimated tax payments in december). And be sure you change your exemptions if your financial situation changes from year to year.

 

 

 

 

 

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—– Sour grapes for everyone!

[doublewide]

Hey F_L_U_,

Thanks for the advice. You’re spot on with the deductions thing. Most years we only got back a couple hundred Federal and usually owed around 50.00 State but 2005 killed us. We wrote off over 24K in interest plus around 6K in property taxes on our Temecula house. We’d never had anything so big as that write off and didn’t know that we should have adjusted our deductions that year. Ended up getting back almost 9K between Fed and State…that money could have been doing a lot more in our CD! Lesson learned though and since we sold in mid 2006 we only had 1/2 that interest to write off so we we were back to normal…Now 2007 taxes are going to make me cry. Nothing to write off for the whole year – can’t even set up an IRA to “shelter” a few grand cuz we contribute to hubby’s 401K. Oh well, guess I’ll have to console myself with the fact by not owning this last year we’ve been able to fund 401K to the max and the stocks we sold are still sitting in the bank – unlike past years where we had no wiggle room in the budget to do the 401K and any stocks sold went directly to pay property taxes and homeowners insurance.

I really wish they taught the financial basics in High School. Having to learn this stuff as we go is tough..Hopefully we’re teaching our daughter as we go so she won’t make the same mistakes we’ve made…she’ll make new ones right?

Doublewide

[doublewide]

Hey F_L_U_,

Thanks for the advice. You’re spot on with the deductions thing. Most years we only got back a couple hundred Federal and usually owed around 50.00 State but 2005 killed us. We wrote off over 24K in interest plus around 6K in property taxes on our Temecula house. We’d never had anything so big as that write off and didn’t know that we should have adjusted our deductions that year. Ended up getting back almost 9K between Fed and State…that money could have been doing a lot more in our CD! Lesson learned though and since we sold in mid 2006 we only had 1/2 that interest to write off so we we were back to normal…Now 2007 taxes are going to make me cry. Nothing to write off for the whole year – can’t even set up an IRA to “shelter” a few grand cuz we contribute to hubby’s 401K. Oh well, guess I’ll have to console myself with the fact by not owning this last year we’ve been able to fund 401K to the max and the stocks we sold are still sitting in the bank – unlike past years where we had no wiggle room in the budget to do the 401K and any stocks sold went directly to pay property taxes and homeowners insurance.

I really wish they taught the financial basics in High School. Having to learn this stuff as we go is tough..Hopefully we’re teaching our daughter as we go so she won’t make the same mistakes we’ve made…she’ll make new ones right?

Doublewide

[doublewide]

Hey F_L_U_,

Thanks for the advice. You’re spot on with the deductions thing. Most years we only got back a couple hundred Federal and usually owed around 50.00 State but 2005 killed us. We wrote off over 24K in interest plus around 6K in property taxes on our Temecula house. We’d never had anything so big as that write off and didn’t know that we should have adjusted our deductions that year. Ended up getting back almost 9K between Fed and State…that money could have been doing a lot more in our CD! Lesson learned though and since we sold in mid 2006 we only had 1/2 that interest to write off so we we were back to normal…Now 2007 taxes are going to make me cry. Nothing to write off for the whole year – can’t even set up an IRA to “shelter” a few grand cuz we contribute to hubby’s 401K. Oh well, guess I’ll have to console myself with the fact by not owning this last year we’ve been able to fund 401K to the max and the stocks we sold are still sitting in the bank – unlike past years where we had no wiggle room in the budget to do the 401K and any stocks sold went directly to pay property taxes and homeowners insurance.

I really wish they taught the financial basics in High School. Having to learn this stuff as we go is tough..Hopefully we’re teaching our daughter as we go so she won’t make the same mistakes we’ve made…she’ll make new ones right?

Doublewide

[doublewide]

Hey F_L_U_,

Thanks for the advice. You’re spot on with the deductions thing. Most years we only got back a couple hundred Federal and usually owed around 50.00 State but 2005 killed us. We wrote off over 24K in interest plus around 6K in property taxes on our Temecula house. We’d never had anything so big as that write off and didn’t know that we should have adjusted our deductions that year. Ended up getting back almost 9K between Fed and State…that money could have been doing a lot more in our CD! Lesson learned though and since we sold in mid 2006 we only had 1/2 that interest to write off so we we were back to normal…Now 2007 taxes are going to make me cry. Nothing to write off for the whole year – can’t even set up an IRA to “shelter” a few grand cuz we contribute to hubby’s 401K. Oh well, guess I’ll have to console myself with the fact by not owning this last year we’ve been able to fund 401K to the max and the stocks we sold are still sitting in the bank – unlike past years where we had no wiggle room in the budget to do the 401K and any stocks sold went directly to pay property taxes and homeowners insurance.

I really wish they taught the financial basics in High School. Having to learn this stuff as we go is tough..Hopefully we’re teaching our daughter as we go so she won’t make the same mistakes we’ve made…she’ll make new ones right?

Doublewide

[doublewide]

Hey F_L_U_,

Thanks for the advice. You’re spot on with the deductions thing. Most years we only got back a couple hundred Federal and usually owed around 50.00 State but 2005 killed us. We wrote off over 24K in interest plus around 6K in property taxes on our Temecula house. We’d never had anything so big as that write off and didn’t know that we should have adjusted our deductions that year. Ended up getting back almost 9K between Fed and State…that money could have been doing a lot more in our CD! Lesson learned though and since we sold in mid 2006 we only had 1/2 that interest to write off so we we were back to normal…Now 2007 taxes are going to make me cry. Nothing to write off for the whole year – can’t even set up an IRA to “shelter” a few grand cuz we contribute to hubby’s 401K. Oh well, guess I’ll have to console myself with the fact by not owning this last year we’ve been able to fund 401K to the max and the stocks we sold are still sitting in the bank – unlike past years where we had no wiggle room in the budget to do the 401K and any stocks sold went directly to pay property taxes and homeowners insurance.

I really wish they taught the financial basics in High School. Having to learn this stuff as we go is tough..Hopefully we’re teaching our daughter as we go so she won’t make the same mistakes we’ve made…she’ll make new ones right?

Doublewide

[jennyo]

Permanent legal resident aliens will get the tax rebate. My boss is one (Serbian descent, British nationality) and he pays as many taxes as I do.

[jennyo]

Permanent legal resident aliens will get the tax rebate. My boss is one (Serbian descent, British nationality) and he pays as many taxes as I do.

[jennyo]

Permanent legal resident aliens will get the tax rebate. My boss is one (Serbian descent, British nationality) and he pays as many taxes as I do.

[jennyo]

Permanent legal resident aliens will get the tax rebate. My boss is one (Serbian descent, British nationality) and he pays as many taxes as I do.

[jennyo]

Permanent legal resident aliens will get the tax rebate. My boss is one (Serbian descent, British nationality) and he pays as many taxes as I do.

[greensd]

Jeez, you guys are loaded. I’ll definitely be getting the rebate… no risk of hitting the cutoff here. And just to give you some perspective, and I’m actually pretty well off compared to my neighbors. I make quite a bit more than the median for my area (which is about $30,000 per household). And no, I don’t live in the ghetto, but I’m “ghetto-adjacent” — half a mile to the south or east of me and things are much, much tougher. All of you who go on about how easy the poor have really ought to come spend a year or so down here and see what it’s like.

[greensd]

Jeez, you guys are loaded. I’ll definitely be getting the rebate… no risk of hitting the cutoff here. And just to give you some perspective, and I’m actually pretty well off compared to my neighbors. I make quite a bit more than the median for my area (which is about $30,000 per household). And no, I don’t live in the ghetto, but I’m “ghetto-adjacent” — half a mile to the south or east of me and things are much, much tougher. All of you who go on about how easy the poor have really ought to come spend a year or so down here and see what it’s like.

[greensd]

Jeez, you guys are loaded. I’ll definitely be getting the rebate… no risk of hitting the cutoff here. And just to give you some perspective, and I’m actually pretty well off compared to my neighbors. I make quite a bit more than the median for my area (which is about $30,000 per household). And no, I don’t live in the ghetto, but I’m “ghetto-adjacent” — half a mile to the south or east of me and things are much, much tougher. All of you who go on about how easy the poor have really ought to come spend a year or so down here and see what it’s like.

[greensd]

Jeez, you guys are loaded. I’ll definitely be getting the rebate… no risk of hitting the cutoff here. And just to give you some perspective, and I’m actually pretty well off compared to my neighbors. I make quite a bit more than the median for my area (which is about $30,000 per household). And no, I don’t live in the ghetto, but I’m “ghetto-adjacent” — half a mile to the south or east of me and things are much, much tougher. All of you who go on about how easy the poor have really ought to come spend a year or so down here and see what it’s like.

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