Tax time

Rocketdork · Post by **Rocketdork** » Thu Mar 17, 2005 8:31 am

So every year about this time I get my tax return. I just got the paper work back from my accountant, I love this man.

My philosophy is to withhold at the highest I can, "0" and use my tax return as a sort of savings account. I know, people are going to say, why not withhold at a lower level and use the money in a Mutual Fund or even a savings account where you can make some interest...My short answer is that I am not disciplined enough to do that, I would just spend it. This way I can put a lump sum into my savings account and leave it there.

This year, between the girlfriend and I, we are expecting $9800! Some of that will go to back child support that I owe. Before you get on the dead beat dad thing...they raised my support last year to $700/month from $360/month...and they made it retroactive to the time the paper work was filed...since our government moves so freaking slow that was about 3 months. I don't know the total back support that I owe but its less than a grand...I have been paying on it since the (mis)judgement.

I can't wait to spend it....rockets, rocket motors, and a new heater/air conditionioner for both halves of the duplex I own are on the agenda. I should pby get a new PC for my step-daughter too...

Pigman · Post by **Pigman** » Thu Mar 17, 2005 8:37 am

I use the same tax witholding rules you do. This year the Roadrunner ate the entire refund. I needed the entire front end replaced from the ball joints to all the rubber bushings. Both motor mounts were broke so I fixed that and added a pretty neat torque bar to keep the engine from lifting out of the engine compartment when I chase after Asa

Rocketdork · Post by **Rocketdork** » Thu Mar 17, 2005 8:42 am

its amazingly simple isn't it? I wonder why you didn't think of it before?

Chasing after Asa, would that be in his 'stang? or his Pantera?

I suppose it could be his ZX2 (escort SS

) or maybe his jeep, don't know if he still has his saturn...you have a wide choice when it comes to chasing after Asa in a vehicle...

Moxie · Post by **Moxie** » Thu Mar 17, 2005 2:22 pm

JC and I have been going to Jackson Hewitt to get ours done for the last few years. It's SO much easier. This years return is +$1700

Rocketdork · Post by **Rocketdork** » Thu Mar 17, 2005 2:28 pm

The first time I went to this guy, I had done my own taxes, and came out owing about $600. I decided I didn't want to give the IRS any MORE money...so I went to the accountant I use now...he did my taxes (and the past years too, later) and I got a $3500 return...

Shows me very clearly that I don't know what the fuck I am doing when it comes to preparing taxes.

mudflap · Post by **mudflap** » Thu Mar 17, 2005 3:57 pm

Rocketdork wrote:My philosophy is to withhold at the highest I can, "0" and use my tax return as a sort of savings account.

I've been thinking about doing this - I almost got screwed this year because my son lived primarily with my "soon to be ex"-husband for most of 2004 and we agreed that if were were to claim MFS - he would claim luke and give me half of the child care credit stuff.

I ran through my taxes as if I were filing MFS and found out that I would owe almost a grand!

We agreed to file MFJ instead so that takes care of that problem.

So, If I changed my withholdings to "0" is is this something I can avoid in the years where I don't claim luke and he does instead?

Rocketdork · Post by **Rocketdork** » Thu Mar 17, 2005 4:30 pm

Boy, I can't presume to give tax advice...I suck at it...

I would call an accountant and explain your situation and ask him what he thinks you should do.

The withholding at 0 works for me, but your milage may vary...

Pigman · Post by **Pigman** » Thu Mar 17, 2005 5:47 pm

Rocketdork wrote:its amazingly simple isn't it? I wonder why you didn't think of it before?

Chasing after Asa, would that be in his 'stang? or his Pantera?

I suppose it could be his ZX2 (escort SS ) or maybe his jeep, don't know if he still has his saturn...you have a wide choice when it comes to chasing after Asa in a vehicle...

Well .. The stang should be pretty straight forward, his warmed up 351 VS my warm 400 CID, the Pantera? shit .. got to think if we divert off a straight quarter mile run (I.E. he gets to actually navigate a road with turns) I could probably memorize his rear tail light configuration.

My V6, 4.0 L 4X4 Ranger should have no problem with his Jeep as long as he has left his guns and such at home.

Rocketdork · Post by **Rocketdork** » Thu Mar 17, 2005 7:00 pm

His warmed up 351C???? I think its more than warm...

His page is here.

I think you two should arrange it...it would be fun to watch...

Pigman · Post by **Pigman** » Thu Mar 17, 2005 9:08 pm

Rocketdork wrote:His warmed up 351C???? I think its more than warm...

His page is here.

I think you two should arrange it...it would be fun to watch...

I got pretty much everything in my engine as well... right down to the head work, windage tray, Crane cam, Hydro lifters, Edlebrock performer intake, lots of head work to include 3 way valve cut, hemi springs, etc. MSD ignition system and Holly Double Pumper sitting under a dual snorkel air cleaner. Exhaust is 1 7/8 Hooker Competions....

4:10 Richmond gears, 833 4 Speed and 14 inch Crag Mags. Quarter Mile time about 13 seconds at 108.

Not to mention I got another 50 cubic inches or so. That is WARM .. for HOT .. I think you gotta have NOS or a BLOWER .....

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