2007 Mileage rate

[L8 APEX]

The IRS is being decent with their deduction allowance for mileage. It never fits if you are hauling a trailer or have a nicer vehicle but it helps offset the cost of fuel plus a little.
http://www.irs.gov/newsroom/article/0,,id=163828,00.html
Be careful clicking the link may allow them to scan your brian. Wear your hat!:tex

[Mark #2]

I got audited this year for last year's return. H+R block does them so I am not in any trouble, but I owe a considerable amount of money.

[L8 APEX]

I hope my tax guy works a miracle this year. Or I'll be trading my new cookware in for Ramen Noodles and a spork:tex

[tiffo60]

i had to pay out this year:flaming:

[dboat]

i had to pay out this year:flaming:

Well, I would believe that most folks on this board do "pay out".. when discussing this topic, I always ask folks to look at your return and see just how much you did pay to the feds this year. You may get "money back" but that is only because you overpaid during the year. I look at how much I paid and just shake my head.. then I have to pay state and local income tax here too in the great state of tax you to death.. I will get off of my soap box b4 I type a few pages on my thoughts on taxes..

Dana

OH, I am getting money back this year.. :rolleyes:

[BC Lightning]

OH, I am getting money back this year.. :rolleyes:

+1

I over paid last year (I figure its better to over pay than not pay enough) and I'm getting roughly $6000 back, but $4000 of it goes into my Roth IRA and $2000 into retirement

[dboat]

+1

I over paid last year (I figure its better to over pay than not pay enough) and I'm getting roughly $6000 back, but $4000 of it goes into my Roth IRA and $2000 into retirement


smart move on the IRA's... there are those that will :hammer: you for overpaying during the year, but if it allows you a way to save, then I say keep it up..

Dana

[WA 2 FST]

I never get a cent back, but I don't ever overpay either. Why should the IRS make interest for 6-9 months on $$ that is mine to begin with?

I have no issue writing my quarterly check to the feds. It's the local real estate taxes that get me :mad: . That and insurance. What a racket both of them are.

[L8 APEX]

I hate property taxes as well. They don't go off what you actually have invested in a property. They crank it up and keep jacking it up a couple grand a year or more.. It affords a hospital I don't use, a school system I have no kids in etc... They should have a system that bills you for the services you use. Not so we can all provide free services to low rent jagoffs mooching off our hard working backs..

[WA 2 FST]

They should have a system that bills you for the services you use.

They do (not so much in the U.S.). This is the "ad valorem" tax. Taxes everything you use. The problem is that we'd both probably be really surprised at how much more things we do use would actually cost if we went to this type of system 100%.

But I hear your plight. I pay taxes on homes I own in other cities/counties where my kids will never go to school. Heck, I don't even use their roads very often.

Anyway... I'm just complaining. My biggest beef is racket of raising the taxing rate, but leaving the "appraised" value the same, or raising the appraised value and then lowering the taxing rate... trying to make the homeowners feel better. Please... we are not THAT stupid.

[L8 APEX]

If that system cut out the freeloaders I'd pay more for that.
http://us.st11.yimg.com/us.st.yimg.com/I/airbrushlicenseplates_1940_7904796 (http://us.st11.yimg.com/us.st.yimg.com/I/airbrushlicenseplates_1938_5545524)

[Ohmsby]

dont forget the "AMT"

A great book to read on the topic of how we are getting phocked on taxes is "Perfectly Legal" however if you read this book take some blood pressure meds as you will be pissed off afterwards:flaming: