BMW M3 Forum (E90 E92)

BMW Garage BMW Meets Register Search Today's Posts Mark Forums Read


Go Back   M3Post - BMW M3 Forum > BIMMERPOST Universal Forums > Off-Topic Discussions Board
 
Lux Angel Eyes
Post Reply
 
Thread Tools Search this Thread
      03-24-2014, 12:52 PM   #23
Templar
Lieutenant Colonel
 
Templar's Avatar
 
Drives: 2011 E92 M3
Join Date: Feb 2009
Location: One of the coasts...

Posts: 1,816
iTrader: (1)

Garage List
2011 BMW M3  [5.00]
Quote:
Originally Posted by Litos View Post
for those of you getting returns - you're welcome....

robbing peter to pay paul......
Do you know how tax returns work?
__________________
'11 BMW E92 ///M3 - ZCP and DCT
'13 Toyota Tundra - 4x4 Platinum CrewMax, 5.7l iForce V8
Templar is offline   United_States
0
Reply With Quote
      03-24-2014, 01:33 PM   #24
Joekerr
Second Lieutenant
 
Drives: 2008 BMW 335i
Join Date: Jan 2008
Location: Toronto, ON

Posts: 310
iTrader: (0)

Quote:
Originally Posted by Litos View Post
for those of you getting returns - you're welcome....

robbing peter to pay paul......
Quote:
Originally Posted by Templar View Post
Do you know how tax returns work?
Yeah...I too am not sure what is meant by the robbing Peter to pay Paul comment?

However, I never love getting returns...means I paid too much to begin with.
Joekerr is offline  
0
Reply With Quote
      03-24-2014, 04:55 PM   #25
Mr Tonka
Tonka.... Mr. Tonka
 
Drives: Exceptionally well :)
Join Date: Feb 2009
Location: Tampa, FL

Posts: 1,160
iTrader: (0)



Maybe Litos is taking about the people who didn't work but filed a return and are getting $19k back. And before you say it isn't so, it is. My wife is a CPA and knows plenty of stories such as this. And my father in law who is a branch manager for H&R block has also attested to this. A good friend of mine is CEO of JD Byrider and he said they sell 100s of Navigator / Escalades out the door with upgraded wheels for the value of the customer's tax return. And it's not because they paid too much, if you know what i mean.
__________________
-Joe


"Government is the great fiction, through which everybody endeavors to live at the expense of everybody else." — Frédéric Bastiat
Mr Tonka is offline   United_States
0
Reply With Quote
      03-24-2014, 05:36 PM   #26
2ForMe
Private
 
Drives: 235 maybe?
Join Date: Feb 2014
Location: US

Posts: 56
iTrader: (0)

Quote:
Originally Posted by Vic311 View Post
One word OP.

Deductions.
Maxed those out already. Still owe a shitload. Oh well.
2ForMe is offline  
0
Reply With Quote
      03-24-2014, 06:42 PM   #27
upstatedoc
Drone Expert
 
upstatedoc's Avatar
 
Drives: '09 BMW 328ix
Join Date: Dec 2009
Location: NY

Posts: 1,468
iTrader: (1)

Quote:
Originally Posted by Mr Tonka View Post
Maybe Litos is taking about the people who didn't work but filed a return and are getting $19k back.
motherfvckers.
__________________
2014 Dodge Durango R/T //Diablosports Tuning
2009 E90 N51 /Active Autowerke Stage 2 tune/BMW Performance Exhaust/
1993 Honda Nighthawk 750/
Countermeasure enthusiast.
upstatedoc is offline  
0
Reply With Quote
      03-24-2014, 09:14 PM   #28
dank852
Registered
 
Drives: 135i
Join Date: Mar 2014
Location: utah

Posts: 3
iTrader: (0)

Quote:
Originally Posted by Litos View Post
for those of you getting returns - you're welcome....

robbing peter to pay paul......
Thanks pete!
dank852 is offline  
0
Reply With Quote
      03-25-2014, 06:47 AM   #29
Whostheboss
Captain
 
Whostheboss's Avatar
 
Drives: a 9incher
Join Date: Aug 2008
Location: Connecticut U.S.

Posts: 787
iTrader: (0)

Quote:
Originally Posted by Mr Tonka View Post


Maybe Litos is taking about the people who didn't work but filed a return and are getting $19k back. And before you say it isn't so, it is. My wife is a CPA and knows plenty of stories such as this. And my father in law who is a branch manager for H&R block has also attested to this. A good friend of mine is CEO of JD Byrider and he said they sell 100s of Navigator / Escalades out the door with upgraded wheels for the value of the customer's tax return. And it's not because they paid too much, if you know what i mean.
damn! Why am i even working?
__________________
WHO'S THE BOSS
Whostheboss is offline  
0
Reply With Quote
      03-25-2014, 07:21 AM   #30
Billup
Oh You Touch My Tralala
 
Billup's Avatar
 
Drives: Your mum crazy.
Join Date: Jun 2013
Location: NC / MI

Posts: 652
iTrader: (0)

Quote:
Originally Posted by Whostheboss View Post
damn! Why am i even working?
You'd be crazy to work in America in this day and age. All this money I get from selling my food stamps on craigslist is a huge perk also!
__________________
2012 Black Motorbike
2008 Red Car
Billup is offline   Azerbaijan
0
Reply With Quote
      03-25-2014, 07:52 AM   #31
Templar
Lieutenant Colonel
 
Templar's Avatar
 
Drives: 2011 E92 M3
Join Date: Feb 2009
Location: One of the coasts...

Posts: 1,816
iTrader: (1)

Garage List
2011 BMW M3  [5.00]
Well if that's the case, I will tell my boss I quit today!

*walks off into the sunset*
__________________
'11 BMW E92 ///M3 - ZCP and DCT
'13 Toyota Tundra - 4x4 Platinum CrewMax, 5.7l iForce V8
Templar is offline   United_States
0
Reply With Quote
      03-25-2014, 02:14 PM   #32
Litos
Colonel
 
Litos's Avatar
 
Drives: 2012 Challenger RT Junk
Join Date: Dec 2010
Location: Houston/Pearland

Posts: 2,895
iTrader: (1)

bums working at Wal-Mart making $12/hr with 2 kids get $10K back...

who do you think gives it to them !?!!?

other bums working at Wal-Mart !?!?

nope.......

people who make good money get taxed enough to where they can give to those people who do not make good money.....

so to the 26 year old dude making $23K a year that has 3 kids with a woman who sits at home watching SpongeBob and Judge Judy all day, you're welcome for that new TV, new couch and new ipad you just bought...

if you need me for anything else, i'll be busy working a legit job while you ensure all the boxes get unloaded off the trailer.....

enjoy your return.....
__________________
Litos is offline   United_States
0
Reply With Quote
      03-25-2014, 02:40 PM   #33
Sara504
Lieutenant General
 
Sara504's Avatar
 
Drives: 2013 335is
Join Date: Aug 2007
Location: Newport Beach, CA

Posts: 17,671
iTrader: (6)

Quote:
Originally Posted by Litos View Post
bums working at Wal-Mart making $12/hr with 2 kids get $10K back...

who do you think gives it to them !?!!?

other bums working at Wal-Mart !?!?

nope.......

people who make good money get taxed enough to where they can give to those people who do not make good money.....

so to the 26 year old dude making $23K a year that has 3 kids with a woman who sits at home watching SpongeBob and Judge Judy all day, you're welcome for that new TV, new couch and new ipad you just bought...

if you need me for anything else, i'll be busy working a legit job while you ensure all the boxes get unloaded off the trailer.....

enjoy your return.....
I love Judge Judy
__________________

2013 335is-Current
2011 335i -Sold 4/13 2006 325i-Sold 7/11
Sara504 is offline   United_States
0
Reply With Quote
      03-25-2014, 02:49 PM   #34
upstatedoc
Drone Expert
 
upstatedoc's Avatar
 
Drives: '09 BMW 328ix
Join Date: Dec 2009
Location: NY

Posts: 1,468
iTrader: (1)

Quote:
Originally Posted by Sara504 View Post
I love Judge Judy
She's a real bee eye tee see aich
__________________
2014 Dodge Durango R/T //Diablosports Tuning
2009 E90 N51 /Active Autowerke Stage 2 tune/BMW Performance Exhaust/
1993 Honda Nighthawk 750/
Countermeasure enthusiast.
upstatedoc is offline  
0
Reply With Quote
      03-25-2014, 02:56 PM   #35
Undertow
Private
 
Drives: 2011 E93
Join Date: Sep 2010
Location: Boston

Posts: 68
iTrader: (0)

In Massachusetts, welfare benefits are approximately $43k per year. However, welfare is not taxed so an equivalent worker who pays taxes would need to earn $51k annually just to break even with a welfare recipient.

Meanwhile, I basically work from January through May before I get to keep a single dollar of what I earn.
__________________
2011 E93 M3 | 2014 M235i
Undertow is offline   United_States
0
Reply With Quote
      03-25-2014, 03:35 PM   #36
turo
Second Lieutenant
 
Drives: 2011 E92 335i, 2009 E92 328i
Join Date: Jul 2011
Location: North VA

Posts: 213
iTrader: (1)

Garage List
2011 BMW 335i  [4.20]
Quote:
Originally Posted by Undertow View Post
In Massachusetts, welfare benefits are approximately $43k per year. However, welfare is not taxed so an equivalent worker who pays taxes would need to earn $51k annually just to break even with a welfare recipient.

Meanwhile, I basically work from January through May before I get to keep a single dollar of what I earn.
Out of curiosity, do you have any links that back up this claim? That seems really extravagant. I just googled welfare benefits in MA and the website doesn't have figures anywhere close to that. I'm not bashing you or anything, I'm genuinely curious.
turo is offline   United_States
0
Reply With Quote
      03-25-2014, 03:52 PM   #37
135iRick
Enlisted Member
 
Drives: Black 2011 135i
Join Date: Jan 2014
Location: Atlanta

Posts: 39
iTrader: (0)

$43K is max payout in all forms of welfare and assistance and the cost to administer those programs for an individual taking full advantage of all state and federal programs available. So W amount is welfare money, X amount is health insurance/Medicare/Medicaid, Y is WIC/food stamps, Z for education/job training, etc. Not necessarily the true cost of gov. assistance per individual since most people on assistance do not qualify for every program out available nor completely try to take advantage of the system.
135iRick is offline  
0
Reply With Quote
      03-25-2014, 03:58 PM   #38
kscarrol
Colonel
 
Drives: 2011 E90 M3
Join Date: Jun 2010
Location: New Orleans, LA

Posts: 2,095
iTrader: (0)

Can't vouch for the data but here is an interesting article from Forbes...

Scroll down to the map for some figures.

http://www.forbes.com/sites/theapoth...-in-35-states/

Edit: I see the source appears to be the Cato Inst., so a conservative bias...

Last edited by kscarrol; 03-25-2014 at 04:39 PM.
kscarrol is online now   United_States
0
Reply With Quote
      03-25-2014, 10:54 PM   #39
dreamingat30fps
Captain
 
Drives: 2009 335i (RIP) - 2006 Z4MR
Join Date: Jan 2010
Location: Boynton Beach

Posts: 892
iTrader: (1)

Quote:
Originally Posted by kscarrol View Post
Can't vouch for the data but here is an interesting article from Forbes...

Scroll down to the map for some figures.

http://www.forbes.com/sites/theapoth...-in-35-states/

Edit: I see the source appears to be the Cato Inst., so a conservative bias...
Aloha bitches!
dreamingat30fps is online now   United_States
0
Reply With Quote
      03-26-2014, 10:35 AM   #40
Templar
Lieutenant Colonel
 
Templar's Avatar
 
Drives: 2011 E92 M3
Join Date: Feb 2009
Location: One of the coasts...

Posts: 1,816
iTrader: (1)

Garage List
2011 BMW M3  [5.00]
Quote:
Originally Posted by Litos View Post
bums working at Wal-Mart making $12/hr with 2 kids get $10K back...

who do you think gives it to them !?!!?

other bums working at Wal-Mart !?!?

nope.......

people who make good money get taxed enough to where they can give to those people who do not make good money.....

so to the 26 year old dude making $23K a year that has 3 kids with a woman who sits at home watching SpongeBob and Judge Judy all day, you're welcome for that new TV, new couch and new ipad you just bought...

if you need me for anything else, i'll be busy working a legit job while you ensure all the boxes get unloaded off the trailer.....

enjoy your return.....
Not really.

Based on this, I'm still not sure you understand how taxes work...
__________________
'11 BMW E92 ///M3 - ZCP and DCT
'13 Toyota Tundra - 4x4 Platinum CrewMax, 5.7l iForce V8

Last edited by Templar; 03-26-2014 at 10:48 AM.
Templar is offline   United_States
0
Reply With Quote
      03-26-2014, 12:12 PM   #41
theblackmamba
Banned
 
Drives: 0
Join Date: Dec 2007
Location: 1

Posts: 2,288
iTrader: (8)

uncle sam pays people to stay home.

don't believe me....
theblackmamba is offline  
0
Reply With Quote
      03-26-2014, 12:21 PM   #42
Litos
Colonel
 
Litos's Avatar
 
Drives: 2012 Challenger RT Junk
Join Date: Dec 2010
Location: Houston/Pearland

Posts: 2,895
iTrader: (1)

Quote:
Originally Posted by theblackmamba View Post
uncle sam pays people to stay home.

don't believe me....
this.......

my family consists of 4 people, but I work to support much MUCH more....
__________________
Litos is offline   United_States
0
Reply With Quote
      03-26-2014, 02:10 PM   #43
coh4777
Lieutenant
 
Drives: 07 BMW 335i Coupe
Join Date: Jul 2009
Location: Vegas

Posts: 529
iTrader: (0)

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.
This. The general public clearly doesn't understand the implications of getting a refund check for taxes.
__________________
COH4777
2007 335i Coupe - Jet Black / Coral Red / Aluminum Trim / 6MT / Sport / Premium / CA / Navi / iPod + USB

coh4777 is offline  
0
Reply With Quote
      03-26-2014, 02:26 PM   #44
Templar
Lieutenant Colonel
 
Templar's Avatar
 
Drives: 2011 E92 M3
Join Date: Feb 2009
Location: One of the coasts...

Posts: 1,816
iTrader: (1)

Garage List
2011 BMW M3  [5.00]
Quote:
Originally Posted by coh4777 View Post
This. The general public clearly doesn't understand the implications of getting a refund check for taxes.


As evidenced in this thread...
__________________
'11 BMW E92 ///M3 - ZCP and DCT
'13 Toyota Tundra - 4x4 Platinum CrewMax, 5.7l iForce V8
Templar is offline   United_States
0
Reply With Quote
Post Reply

Bookmarks

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump


All times are GMT -5. The time now is 09:09 AM.




m3post
Powered by vBulletin® Version 3.7.0
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
1Addicts.com, BIMMERPOST.com, E90Post.com, F30Post.com, M3Post.com, ZPost.com, 5Post.com, 6Post.com, 7Post.com, XBimmers.com logo and trademark are properties of BIMMERPOST