Interesting take on taxes

[Detector]

I'm talking more of the gap between those who give and those who receive. Not long ago I remember hearing that that some people were getting around $1,000 back and some were paying in roughly the same amount. Now I'm hearing people either getting back thousands or paying thousands.

Last year I had to pay in about $800 so I adjusted my withholding and 401k and figured it should have been close. This year I'm paying in $1,000. It was only thanks to deduction from buying a house that it was that small.

[Zeb]

Ok OOD I know

You work with money, and Traversed a certain area in Colorado.

I got to ask you, do you have a fish on your wall?

Maybe I just figured out your ID.

[Outofdodge]

Originally Posted by Zeb

I got to ask you, do you have a fish on your wall?

Maybe I just figured out your ID.

Of course I have fish on the wall. But don't have the Beemer anymore.

I figured anyone here who knew me when I was in Dodge would have connected the dots when I wrote those posts on healthcare care cost

[Bubba]

Originally Posted by Outofdodge

...don't use your bank's online bill paying service....

Why? It's free and I don't have to pay for a stamp or an envelope or the cost of check that I would have to write it on if I didn't pay electronically. Since I have started paying my bills electronically and using my debit card at places like Dillon's, Wendy's, Sonic, McDonalds, etc., I haven't had to pay the printing fees for new checks in a long time. Since I'm not paying for stamps, envelopes, check printing fees, etc. I am saving money that I would have had to spend on these items. I think it makes great sense to use online bill-paying. If your bank charges you a fee for online bill paying, you should switch banks.

[Outofdodge]

Originally Posted by Detector

I'm talking more of the gap between those who give and those who receive. Not long ago I remember hearing that that some people were getting around $1,000 back and some were paying in roughly the same amount. Now I'm hearing people either getting back thousands or paying thousands.

I know what you're talking about. But a refund or payment at tax time is more a reflection of your bi-weekly with-holdings (W-4) and any quarterly payments than it is a result of a social scienced tax code.

I've writen a check for close to 5K but it was a decision I made back in July of 2006. In the meantime the investment returns on that money meant I had to declare even more income (and pay tax on it) plus it's paying for my vacation to Scotland.

[Outofdodge]

Originally Posted by Bubba

Why? It's free and I don't have to pay for a stamp or an envelope or the cost of check that I would have to write it on if I didn't pay electronically. [snip] If your bank charges you a fee for online bill paying, you should switch banks.

Screw the fees Bubba I'm talking about access to YOUR money.

Do you track the time it takes from the point the bank takes your money from your account and your payment gets posted by your creditor? One of my clients was so proud of going to her bank's website once a month and entering her bills. What she did not pay attention to was the two week swing from the time the bank took the money from her account and the time it got credited by GMAC, AT&T, Sprint, et al. It's your money, why should they make take it into their account and earn interest on it, when you could be doing it yourself?

I pay bills online, but only those websites that allow you to pick a payment date. AT&T does not with their phone service so they still get a check. My cell phone, mortgage co, credit card and Home Depot accounts let you pick a payment date, typically the due date. Those I pay online

Same with Debit cards, yeah they save writing a check but the bank takes your money for the transaction quickly. Since most folks don't get any interest on their checking funds they don't think of it in those terms. But then again most folks purposely overpay their taxes so they can get a refund from Uncle Sam.

[Bubba]

You must be using the wrong bank, mine pays the bill in 2-3 business days and the funds aren't taken from my account until the date the bill is paid. My savings account is no longer at my local bank, which pays very dismal interest rates, I have accounts with ING online that is currently paying 4.5% interest, and I just opened an account with HSBC online because during the month of April they are paying 6% for all funds deposited during the month of April. Those are regular saving accounts, not CD's that have a minimum amount of time that you have to keep your funds there.

[moises1]

Hey folks bottom line,we have to pay taxes!Get over it.I don't care for it anymore than the next guy but,without them can you imagine the turmoil ?It's bad enough with taxation but it would be worse without!

[Made in the USA]

Originally Posted by moises1

Hey folks bottom line,we have to pay taxes!Get over it.I don't care for it anymore than the next guy but,without them can you imagine the turmoil ?It's bad enough with taxation but it would be worse without!

How come Wesley Snipes doesn't have to pay?