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  1. 01-17-2010, 11:59 AM #1
    YankeeMom
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    Thumbs down For the first time

    Ever. We have to pay in for our Federal Taxes. I'll ditto the "Hope and Change" my butt from another thread
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  2. 01-17-2010, 12:05 PM #2
    frugal-fannie
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    I agree. I had to pay and extra 10k due to losing the college write off.I am still waiting for the American people to realize you can't spend your way out of debt.
    The problem with a living sacrifice is, it always trys to crawl off the alter.- Chuck Swindoll
    debt 59,076.95/148,000 first mortgage 407131.74/ 515,000 2nd mtg,creative fin.-rental houses fix up 342035.13.pfcu-16,000,FCU-10,AMX-4925.71-0%, Chase Freedom $1500.00 Chase, 2500.00 35315.72+30-70315.72 13,129.28 /22,000 land payment
    29199.33 / 38,000 land pmt $42,328.61
    balance owed 705,000.00/493756.41 30000 or less- final fix up for rentals 40315.72- total high interest debt pay down
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  3. 01-17-2010, 12:20 PM #3
    nancycg56
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    I feel your pain ~ we have to pay quarterly :reallyangry:
    Nancy
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  4. 01-17-2010, 12:37 PM #4
    Debbie-cat
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    (((hugs)))
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  5. 01-17-2010, 12:42 PM #5
    pinetree
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    We pay quarterly also. Hate it, but theres nothing we can do.
    Pine trees, with their needles pointing up to heaven, represent everlasting light and life.
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  6. 01-17-2010, 12:47 PM #6
    NikoSan999
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    Quote Originally Posted by YankeeMom View Post
    Ever. We have to pay in for our Federal Taxes. I'll ditto the "Hope and Change" my butt from another thread
    And it's only going to get worse. But we're not allowed to talk politics so just say we agree.
    Bank of America is THE godfather of Hell with Wells Fargo running neck and neck. When the world ends the only things that will be left are cockroaches, Walmart, Wells Fargo and Bank of America. Not necessarily in that order. The order remains to be seen.

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  7. 01-17-2010, 01:30 PM #7
    rowdy35
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    i have had to pay many times in past years, did not have a house or kids to write off.

    i just put it on a cc if i didn't have the $ because you don't want to owe the IRS.
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  8. 01-17-2010, 02:49 PM #8
    Preston
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    Quote Originally Posted by YankeeMom View Post
    Ever. We have to pay in for our Federal Taxes. I'll ditto the "Hope and Change" my butt from another thread
    Are you sure this has something to do with Obama? Because what I've been working on I've got the 'making work pay' tax credit this year which has changed taxes...actually lowered them. But other than that the tax rates I'm coming up with are not really different from last year. The reason we owe this year is because we made $15000 more than last year. And I don't see that as a bad reason to owe more taxes.

    But there are also some tax cuts/programs which have expired, but nothing I have found has said flat out that Obama has been raised taxes on the non-affluent. At least not yet.


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    "It doesn't matter how hard you hit, it's how hard you can get hit and keep moving forward. That's how winning is done." - Rocky Balboa

    Story of my life. In 2007 we had 78000 worth of debt, and we climbed out under it, on top of paying for a surgery with cash, bought a house, had a foundation shift and $11000 in repairs later we are good to go.. then I hear the words "I'm pregnant!"
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  9. 01-17-2010, 02:56 PM #9
    ladytoysdream
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    I did a google search yesterday for the turbo tax website. I used their calculater there. It says we have a refund coming back this year. And we can use the free one online. I don't do ours online. I was just nosy. I am thinking we owe...but what do I know anymore. Taxes frustrate me.
    I remember one year we owed big time. I was NOT a happy camper. I prefer not owing or getting a big refund...I want it balanced.......somehow.
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  10. 01-17-2010, 07:38 PM #10
    Ms. Clear
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    The tax laws have not changed for this year. Some cuts are scheduled to expire in 2010. Political opinions aside, Obama hasn't signed any new tax laws besides a temporary reduction in payroll taxes under the stimulus bill, which will expire in the spring, IIRC.
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  11. 01-17-2010, 11:25 PM #11
    frugal-fannie
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    By not renewing the cuts most of the middle class has a tax hike for 2010. My understanding is the Stimulus payroll tax was a loan and not really a cut at all. You just got a little of your money ahead of time but you still have to pay tax on it. The pork package jobs bill was a tax hike just not a direct one. Wait till the government gets too extended with their tax debt.With the drunken sailors in government it can't be fast enough for their liking. Then they will just lower the brackets and voila a tax hike They just won't call it that. Does anyone know if they lowered the brackets already? I have heard if you have a combined income even business income of 250k you will be taxed like you are a millionaire.
    The problem with a living sacrifice is, it always trys to crawl off the alter.- Chuck Swindoll
    debt 59,076.95/148,000 first mortgage 407131.74/ 515,000 2nd mtg,creative fin.-rental houses fix up 342035.13.pfcu-16,000,FCU-10,AMX-4925.71-0%, Chase Freedom $1500.00 Chase, 2500.00 35315.72+30-70315.72 13,129.28 /22,000 land payment
    29199.33 / 38,000 land pmt $42,328.61
    balance owed 705,000.00/493756.41 30000 or less- final fix up for rentals 40315.72- total high interest debt pay down
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  12. 01-18-2010, 12:09 AM #12
    Lady_V
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    We're waiting for the form to arrive from his work, and I am pretty sure we won't owe on Federal, but I am PRAYING that we won't have to pay on State.

    Massachusetts has a mandatory health insurance law and you have to pay a penalty for the months you didn't have insurance. It's 323.00 a month... for just HIM and we had to wait until March to be able to catch up and be able to afford it every month
    I can't be out of money... I still have checks left!

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  13. 01-18-2010, 03:47 AM #13
    Preston
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    Quote Originally Posted by frugal-fannie View Post
    By not renewing the cuts most of the middle class has a tax hike for 2010. My understanding is the Stimulus payroll tax was a loan and not really a cut at all. .
    There is a 'making work pay' tax credit of $400 person, which works out to be about the same amount that was reduced withholding from our paycheck.


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    "It doesn't matter how hard you hit, it's how hard you can get hit and keep moving forward. That's how winning is done." - Rocky Balboa

    Story of my life. In 2007 we had 78000 worth of debt, and we climbed out under it, on top of paying for a surgery with cash, bought a house, had a foundation shift and $11000 in repairs later we are good to go.. then I hear the words "I'm pregnant!"
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  14. 01-18-2010, 03:54 AM #14
    mauimagic
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    Quote Originally Posted by ladytoysdream View Post
    I did a google search yesterday for the turbo tax website. I used their calculater there. It says we have a refund coming back this year. And we can use the free one online. I don't do ours online. I was just nosy. I am thinking we owe...but what do I know anymore. Taxes frustrate me.
    I remember one year we owed big time. I was NOT a happy camper. I prefer not owing or getting a big refund...I want it balanced.......somehow.
    Interesting idea - checking for an estimte on the turbo tax site - I never thought of doing that - mahalo for sharing that info!!
    Travel light. The baggage of the past can only hold you back.




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  15. 01-18-2010, 09:29 AM #15
    NikoSan999
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    Quote Originally Posted by Ms. Clear View Post
    The tax laws have not changed for this year. Some cuts are scheduled to expire in 2010. Political opinions aside, Obama hasn't signed any new tax laws besides a temporary reduction in payroll taxes under the stimulus bill, which will expire in the spring, IIRC.
    But they COULD have been extended due to the economy
    Bank of America is THE godfather of Hell with Wells Fargo running neck and neck. When the world ends the only things that will be left are cockroaches, Walmart, Wells Fargo and Bank of America. Not necessarily in that order. The order remains to be seen.

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