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(Topic ID: 42963)

Got my tax return, got a new pin!


By vster23

7 years ago



Topic Stats

  • 61 posts
  • 40 Pinsiders participating
  • Latest reply 7 years ago by Spidey171
  • No one calls this topic a favorite

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There are 61 posts in this topic. You are on page 2 of 2.
#51 7 years ago

Congrats. Glad things worked out and you got it. I've never played the game, need to check it out some time.

#52 7 years ago
Quoted from herbertbsharp:

Pinside isn't the place for financial advice, if you want that go here:

That is some sound financial advice! Thanks!

#53 7 years ago

Stangbat , Thanks again for the heads up! Yes you definitely need to check it out and also get some games in on Ice Cold Beer!

#54 7 years ago
Quoted from amalongi:

If you have received a tax return for three straight years, I would suggest spending a bit of time and recalculate your tax deductions. Letting the government use your money without paying you interest (which is exactly what you are doing by overpaying taxes during the year) is not good financial managment.
Nice collection though! Enjoy the machines.

Every time I hear people say this I chuckle....I'm assuming its one of those things guys heard their dad say 20 years ago and its simply regurgitated nonsense. Perhaps 20-30 years ago it had some validity when interest rates were much higher. However, at today's rates its simply not true unless you are actively investing your excess cash in the stock market or some other investment vehicle that is earning more than a meager 1%. $5000 * 1% * 25% tax = $37.50 in your pocket....lol....vster23, you should really learn to manage your finances better

#55 7 years ago
Quoted from Flake49:

stock market or some other investment vehicle that is earning more than a meager 1

The stock market is at and all time high? Where are you getting this 1% from?
It is also something that is taught in every business school in America. Not just something someones dad said 20 years ago.

Of course, good advice cannot be given unless his tax situation is know like if he is a w-2 or makes estimated payments, etc.

#56 7 years ago
Quoted from royce6135:

This is important because the gov taxes you on your refund you get which is total bs.

What!? Lol....I'm a CPA and I can assure you this is not true. Unless you are referring to including state income tax refunds on your federal tax return. But this is only done if you claimed a federal income tax deduction for state income tax paid. In any event, if you are Average Joe tax payer this is generally inconsequential.

#57 7 years ago
Quoted from captainadam_21:

The stock market is at and all time high? Where are you getting this 1% from?

Read clearly man, I said UNLESS you are investing in the stock market or some other investment vehicle that is making more than 1%. If not and you are keeping your liquid savings in a typical money market or equivalent bank account (which many people do) your not even making 1% on that cash.

#58 7 years ago

This tax thing has been raining on vster23's parade since he started this post, but he did mention tax return, so this is the last point I'm going to try to make in regards to this-

Four months ago when the nicest HUO TFTC out there became available, I'm glad I didnt have to say
"will you hold it for me until I get my tax return, bro"

#59 7 years ago
Quoted from captainadam_21:

Where are you getting this 1% from?

That's the 1% you'll earn by keeping it in the bank UNLESS (as Flake said) you put the money somewhere else that will earn a higher ROR.

#60 7 years ago

First off, the know-it-alls who just have to criticise those who get tax refunds (in lieu of current paltry bank returns) could discourage such people from even wanting to participate in this thread.

That said, I get tax money back each year and I envy the original poster for being able to use a portion of his refund to buy a pinball machine. It takes all of my federal and state refunds plus all of my annual bonus from work (there is no bonus unless the company makes a profit for that year) plus some funds out of savings just to pay my annual real estate taxes.

#61 7 years ago

congrats!! nice pick up!!

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