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      03-22-2014, 11:16 AM   #1
2ForMe
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tax bill for 2013 :(

I just got the bad news about how much I owe the IRS next month. Might be backing out of my M235 deal now. Yeah...it was that bad.
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      03-22-2014, 01:02 PM   #2
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Might consider adjusting your W-4 so you don't end up like this again next year.
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      03-22-2014, 01:04 PM   #3
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Quote:
Originally Posted by 2ForMe
I just got the bad news about how much I owe the IRS next month. Might be backing out of my M235 deal now. Yeah...it was that bad.
How bad was it and I'll tell you if it was as bad as our 2012 return
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      03-22-2014, 06:40 PM   #4
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So what exactly are you looking for from other members? I don't understand the point of this topic.
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      03-22-2014, 07:12 PM   #5
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If you're not paying a penalty for under withholding, then paying as much of your tax bill on April 14 simply means that you've had possession of your after tax earnings; instead of the government holding onto it during the year and giving it back to you after you file. Given that investment markets were quite bullish in 2013, I certainly would rather have had my money to invest than letting the government hold on to it. People who want a big return either don't understand this, or can't trust themselves to not foolishly spend it during the year.
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      03-22-2014, 07:37 PM   #6
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I reckon that means you didn't pay in enough during the year. Not sure what you want us to do about that?
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      03-22-2014, 09:16 PM   #7
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Quote:
Originally Posted by NemesisX View Post
So what exactly are you looking for from other members? I don't understand the point of this topic.
It's off topic half the threads don't have a point if you don't want to read the thread then leave and don't act like a douche.
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      03-22-2014, 10:37 PM   #8
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It's off topic half the threads don't have a point if you don't want to read the thread then leave and don't act like a douche.
No, this is me acting like a douche: try learning some basic, grade school reading comprehension.

I was simply asking the original poster what he wants others to contribute in terms of this topic. Is he looking for advice? Is he simply looking to vent? It doesn't matter to me either way. I never said or even implied that he shouldn't make this topic. I was simply asking what he was looking for.

If he's simply looking to vent, that's totally fine with me. If he's looking for advice, then he probably needs to elaborate on his story a little bit so other members can help.
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      03-22-2014, 10:54 PM   #9
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Quote:
Originally Posted by italia View Post
If you're not paying a penalty for under withholding, then paying as much of your tax bill on April 14 simply means that you've had possession of your after tax earnings; instead of the government holding onto it during the year and giving it back to you after you file. Given that investment markets were quite bullish in 2013, I certainly would rather have had my money to invest than letting the government hold on to it. People who want a big return either don't understand this, or can't trust themselves to not foolishly spend it during the year.
We're once again surprised at our return. We'd rather not loan the gov't a bunch of money. We keep adjusting our W-4s, but we still end up with a return. We upped the pre-tax retirement fund amounts this year, and I think we underestimated the net effect.
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      03-23-2014, 12:04 AM   #10
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haha. Return. I literally have not had a dollar given back to me since 1997.
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      03-23-2014, 12:27 AM   #11
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Quote:
Originally Posted by NemesisX View Post
No, this is me acting like a douche: try learning some basic, grade school reading comprehension.

I was simply asking the original poster what he wants others to contribute in terms of this topic. Is he looking for advice? Is he simply looking to vent? It doesn't matter to me either way. I never said or even implied that he shouldn't make this topic. I was simply asking what he was looking for.

If he's simply looking to vent, that's totally fine with me. If he's looking for advice, then he probably needs to elaborate on his story a little bit so other members can help.

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      03-23-2014, 12:31 AM   #12
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every year I fight to keep as much as I can.


I basically work for FREE January to June

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      03-23-2014, 02:17 AM   #13
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Quote:
Originally Posted by italia View Post
If you're not paying a penalty for under withholding, then paying as much of your tax bill on April 14 simply means that you've had possession of your after tax earnings; instead of the government holding onto it during the year and giving it back to you after you file. Given that investment markets were quite bullish in 2013, I certainly would rather have had my money to invest than letting the government hold on to it. People who want a big return either don't understand this, or can't trust themselves to not foolishly spend it during the year.
nailed it!
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      03-23-2014, 03:13 PM   #14
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Point of this thread is I completely underestimated what I was gonna owe uncle sam this year and a large portion of the funds I set aside for M235 now have to be diverted to my tax bill.

It involves income from a sold property in a business I have a small stake in from last year. Did not realize how much of that money was from interest. Ok I did know but really didn't put two and two together to contemplate the impact that would be felt on my taxes.

All it really means is I'll have to wait till much later this year to get into this car rather than next month.

Extremely disappointing because I was very excited and was looking forward to picking up my pre ordered car in a few weeks. The extent at which I was following and posting on these forums the past few months had reached obscene levels - like a new addiction - just so I could know as much about my new upcoming toy as possible and to bask in the same joy others here are experiencing. Now it's like it was all a friggin waste, plus I'm gonna have to fight with dealer to get my deposit back.

Nothing you guys can do to help but there was no other place to post this. It is what it is. What do I get? A one way ticket to palookaville.

You don't understand..I coulda had class! I coulda been a contender!

Last edited by 2ForMe; 03-23-2014 at 03:23 PM.
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      03-23-2014, 04:22 PM   #15
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Quote:
Originally Posted by My335iTT
Quote:
Originally Posted by NemesisX View Post
No, this is me acting like a douche: try learning some basic, grade school reading comprehension.

I was simply asking the original poster what he wants others to contribute in terms of this topic. Is he looking for advice? Is he simply looking to vent? It doesn't matter to me either way. I never said or even implied that he shouldn't make this topic. I was simply asking what he was looking for.

If he's simply looking to vent, that's totally fine with me. If he's looking for advice, then he probably needs to elaborate on his story a little bit so other members can help.

LOLOL
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      03-23-2014, 06:57 PM   #16
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i guess no 2 for u!
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      03-23-2014, 09:53 PM   #17
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Quote:
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i guess no 2 for u!
Took me a minute to figure out what you were doing here. Clever
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      03-24-2014, 08:33 AM   #18
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Quote:
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Quote:
Originally Posted by KwlAznKid View Post
i guess no 2 for u!
Took me a minute to figure out what you were doing here. Clever
lol
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      03-24-2014, 10:24 AM   #19
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Took me a minute to figure out what you were doing here. Clever


Quote:
Originally Posted by Whostheboss View Post
lol
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      03-24-2014, 10:39 AM   #20
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I think he should request a name change.
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      03-24-2014, 10:50 AM   #21
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One word OP.

Deductions.
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      03-24-2014, 12:35 PM   #22
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for those of you getting returns - you're welcome....

robbing peter to pay paul......
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