Tax Season is COming!

[GottaBeTRD]

im going to owe.........................................

thats what you get for being a self employed-last year, unemployed this year, college student

haha oh the dreaded 1099 form! ive been there and it does suck! Were you a student last year or just this year?

 

[fenrisx]

its called the American Opportunity Credit. Just as long as you were enrolled in school and paying for school last year you should qualify. When did you file? it just got released a couple days ago.

Just make sure when your filing your counting your books, and lab fees, or if you bought a computer. This is everything they told me at HR Block so hopefully its legit! Im still blown away but i duno they had something like this last year to where i got almost the same amount as this year. its crazy!

Ok, cool. I filed on the 11th using TurboTax using my last pay stub. Once I get tax papers from my school I'll definitely be doing an amendment. I also bought $1200 laptop for school last year... nice!

 

[fenrisx]

its called the American Opportunity Credit. Just as long as you were enrolled in school and paying for school last year you should qualify. When did you file? it just got released a couple days ago.

Just make sure when your filing your counting your books, and lab fees, or if you bought a computer. This is everything they told me at HR Block so hopefully its legit! Im still blown away but i duno they had something like this last year to where i got almost the same amount as this year. its crazy!

Ok, cool. I filed on the 11th using TurboTax using my last pay stub. Once I get tax papers from my school I'll definitely be doing an amendment. I also bought $1200 laptop for school last year... nice! One area of concern for me is I didn't pay out of pocket for tuition. Pell Grant covered a lot, and then I took out student loans. I think whatever wasn't covered by grants can be used though. I'll have to be careful I suppose.. don't want to get audited and find out I shouldn't have put any of my tuition on there.

 

[theizzardking]

I .I want an IPAD fupgrade my Samsung Moment with either the Samsung Epic or the Evo Shift...

wait a few months on the cells and tablet
i'm waiting for the xoom or toshiba, ipad2 is meant to come out in the 2Q

Best Tablets of CES: Xoom, VIA, Tab and PlayBook Lead the Way


new cell phones coming out in the next 2 months or so.
the evo shoft 4g is coming out as well as some pretty bad mo fo's on other networks,
Top 5: Aaron's Top 5 phones from CES | PhoneDog

if you like your sprint and you like your apple, still wait, like i said ipad2 is set to be announced sooner then later maybe even next month.

i got an ipad for christmas but returned it based on the news coming from ces.
next month is the Mobile World Congress and sony's meant to be releasing a playstaion phone, lol as well many are saying the unveiling of ipad2.

i promise if you wait you wont be sorry this is the year of dual cores.

 

[theizzardking]

Actually, Liquor and Beer Store employees, are actually Kinda Government employees!

actually alot of our states are like that as well, all of our liquor stores are government run here in Washington state, no booze on Sundays or after 6 unless you go to the res. booooo!

 

[fenrisx]

Well, I went into TurboTax and made some adjustments, just to get a rough idea of how much the return would change. I don't have my 1098-T from school yet, but I just took my tuition for the year and subtracted the Pell grant totals from that to get my 'tuition expense'. I was also able to add my computer as a course related expense.

Now I'm going to wait on my 1098-T so I can adjust it correctly before I file an amendment.

 

[brian2sun]

Investing and paying off debt doesn't stimulate the economy buying stuff does , other wise the money just goes right back to the bank, lol.

(I know you're just playing devil's advocate, but for the sake of the conversation...)

Buying stuff with money you earned stimulates the economy. But stimulating the economy with the goverment's money is just like selling yourself your own car. I could take out $6K to buy my truck and then I pay myself $6K. But now I have $6K less in my bank account so I have to put that money back into the bank. The only stimulation I might get is if I stop at the strip club on the way back from the bank.

 

[theizzardking]

(I know you're just playing devil's advocate, but for the sake of the conversation...)

Buying stuff with money you earned stimulates the economy. But stimulating the economy with the goverment's money is just like selling yourself your own car. I could take out $6K to buy my truck and then I pay myself $6K. But now I have $6K less in my bank account so I have to put that money back into the bank. The only stimulation I might get is if I stop at the strip club on the way back from the bank.

devils advocate on:

but it's not the same! what happens is a mass of people with newly found wealth (lol) go out and spend all of this money for products, which in turns depletes the supply which then requires that companies to hire people and buy materials to replace that supply, and hopefully those people with newly hired jobs go out and buy more stuff and then those companies need to manufacture more supply for their goods, lol, and so the circle of supply and demand goes on.

it's kind of like the same argument the rich *****es makes for the trickle down theory, but it's more of a trickle up theory by giving it to the middle class who then in turn give it to the rich in exchange for goods, who in return need to produce more things and ect ect ect.....

not sure if it'll work but i'd much rather see the money going into the pockets of college kids, then into the pockets of banks and people on welfare doing nothing with their lives.

devil mode off

lol, seriously though i don't think it will work and if it does your talking years and years, i also don't think giving massive corporations a tax cut is the way to do it either, last time they got a tax cut they didn't hire any new people or give out increased wages to the average worker, the CEO's just got million dollar bonuses and dream homes in the south pacific. how the f*** is that trickle down how does an already filthy rich guy spend that extra money? easy he invests it into another company or bank and then it's truly gone,
it would be different if they started a company from that cash but acquiring another company that already exists has no added value to the market, as the same number of employees still have jobs the same number of people are paying taxes everything is the same for everyone except rich *****es portfolio, no added value to the economy .

it may sound communist as all hell and idgaf, but we should just implement a flat tax plan based on earnings and profit

 

[KellyJ]

New poly steering rack bushings made a huge improvement on my rig. I wish I would have done it right when I got my rig. I'm only @ 140k and the improvement was huge. PITA install though the parts are cheap.

I'm assuming a shop is gonna charge an arm and leg to install these $20 parts then right?

 

[Crit Rat]

I'm assuming a shop is gonna charge an arm and leg to install these $20 parts then right?

$225 for me I think. That was fair to me and they did a good job. Totally worth it though. My 4runner is so much nicer to drive now, it really is a new vehicle.

 

[J-money$$$]

haha oh the dreaded 1099 form! ive been there and it does suck! Were you a student last year or just this year?

both years, i filed as a dependent last year so my parents got the tax credit. My mom has to do a 1099 too. quarterly payments suck!


P.S. Politics never do good on the forum..................... Im sure no one wants to know my opinion, people will think im crazy or something lol

 

[GottaBeTRD]

Ok, cool. I filed on the 11th using TurboTax using my last pay stub. Once I get tax papers from my school I'll definitely be doing an amendment. I also bought $1200 laptop for school last year... nice! One area of concern for me is I didn't pay out of pocket for tuition. Pell Grant covered a lot, and then I took out student loans. I think whatever wasn't covered by grants can be used though. I'll have to be careful I suppose.. don't want to get audited and find out I shouldn't have put any of my tuition on there.

So yeah you should get everything. Ill check my refund statement and see what line the American Opportunity thing is on. you shouldn't have to do anything to get it, it just adds on i think... it may be different on turbo tax?

you should be able to print your 1080T oe whatever its called off of the university website. under the financial aid menu there should be an option to print it off

Dont worry about the grants i also got about $2900 in pell grants last year... I got them in the middle of the year too, so I was only able to use some of it for one semester and then the rest for my semester this year. Im still kind of consfused how it all counts as of last year and the school said everything is good so. hopefully no calls from the IRS lol

 

[fenrisx]

So yeah you should get everything. Ill check my refund statement and see what line the American Opportunity thing is on. you shouldn't have to do anything to get it, it just adds on i think... it may be different on turbo tax?

you should be able to print your 1080T oe whatever its called off of the university website. under the financial aid menu there should be an option to print it off

Dont worry about the grants i also got about $2900 in pell grants last year... I got them in the middle of the year too, so I was only able to use some of it for one semester and then the rest for my semester this year. Im still kind of consfused how it all counts as of last year and the school said everything is good so. hopefully no calls from the IRS lol

I'll have to wait. There's no place on my schools website to get those. That's cool..if I can claim all my tuition.. I would definitely get way more than the $845 by just using tuition that Pell didn't cover.

 

[GottaBeTRD]

yeah so it sounds like you can get a ton more! That sucks you cant get your form on the website though, I thought schools had to legally have that on there in case it got lost in the mail or something. o-well It should come soon i would have to say.