Tax season... how bad did you get fucked?

[made Man]

Turns out i owe them just over 600bux. There goes my new Bell lid

how badly did they fuck others here?

PS
this is for those who got fucked. Those who get to gloat, make a new thread. Dont need to make me feel worse

[s2upid]

got paid.. feels good man feels good.

[carbonfibrerocket]

got paid.. feels good man feels good.

got paid too.. feels good man feels good.

[Leslie0568]

This is the first time in almost 30 years of working that i have to pay. A grand... i'm fucked.

[Axel]

OK get real people... Its not getting paid or they charged you at tax time.. Those that got money back paid to much during the year. And those that STILL owe didnt pay enough during the year. IF YOU WANT a refund tell your employer to take more off your check.

[FrostyFire]

$2100 back. Don't feel bad, I just gave the government a $2100 interest free loan.

[FASTn50]

[QUOTE=Axel;1621852]OK get real people... Its not getting paid or they charged you at tax time.. Those that got money back paid to much during the year. And those that STILL owe didnt pay enough during the year. IF YOU WANT a refund tell your employer to take more off your check.[/QUOTE

Pfft! You probably voted for the HST too!

[bandito]

OK get real people... Its not getting paid or they charged you at tax time.. Those that got money back paid to much during the year. And those that STILL owe didnt pay enough during the year. IF YOU WANT a refund tell your employer to take more off your check.

Exactly what I was thinking about posting.

Enough taxes weren't taken off, and you were advanced the $600 dollars in the course of the year in extra pay. Doh!!!!!!!!!!!

[FrostyFire]

Exactly what I was thinking about posting.

Enough taxes weren't taken off, and you were advanced the $600 dollars in the course of the year in extra pay. Doh!!!!!!!!!!!

I don't agree with asking your employer to take off more, that's even worse as I already pointed out. You're giving the government an interest free loan. I find it funny that if a mistake happens, then around November/December they send you a letter saying you were refunded to much and you need to pay THEM back with interest. Fuck, where's the interest on my money?

If you want a bigger tax refund, use deductions. Put in a $1000 into your RRSP and see what happens.

[made Man]

I don't agree with asking your employer to take off more, that's even worse as I already pointed out. You're giving the government an interest free loan. I find it funny that if a mistake happens, then around November/December they send you a letter saying you were refunded to much and you need to pay THEM back with interest. Fuck, where's the interest on my money?

If you want a bigger tax refund, use deductions. Put in a $1000 into your RRSP and see what happens.

are you attempting to use common sense dealing with a crown entity?

[bandito]

I don't agree with asking your employer to take off more, that's even worse as I already pointed out. You're giving the government an interest free loan. I find it funny that if a mistake happens, then around November/December they send you a letter saying you were refunded to much and you need to pay THEM back with interest. Fuck, where's the interest on my money?

If you want a bigger tax refund, use deductions. Put in a $1000 into your RRSP and see what happens.

Sure, take them to take of the minimum allowed... then invest your money, make some return... and pay them when the tax bill is due.

But don't moan about paying what is actually owed. What is the point of that?

Your example is fine, it means he should be glad he's paying them now... he could have turned his $600 he saved earlier in the year into $1000 if he'd bought some stocks with the extra disposable income.

Call the Waahmbulance.

[FrostyFire]

are you attempting to use common sense dealing with a crown entity?

Ha. Yeah, I was pissed when that happened a couple years ago. They refunded me $400 to much, but charged interest from February to December. Why the fuck did it take that long to notify me? Not my problem if there's a backlog.

Also, for anyone that has to PAY in money, don't give them a fucking dime until the last day of April.

[FZrrr]

I always had the office deduct a extra 5% as working call-in, weekend and nights bumps you into a much higher tax bracket and it's a lot easier to get money back than pay, plus my mortgage was due around the same time so any cash back found a home. The last full year as Chief Engineer was 3459 hrs and 48 grand in tax came down to 43 with rrsp but other deductions on top push total back up.

[FrostyFire]

I always had the office deduct a extra 5% as working call-in, weekend and nights bumps you into a much higher tax bracket and it's a lot easier to get money back than pay, plus my mortgage was due around the same time so any cash back found a home. The last full year as Chief Engineer was 3459 hrs and 48 grand in tax came down to 43 with rrsp but other deductions on top push total back up.

You know tax is calculated annually right? Whether they take off 5% extra now it will still equal the same tax bracket when you file, calculated annually. What are deductions "on top"? Deductions are not additions.

[made Man]

Sure, take them to take of the minimum allowed... then invest your money, make some return... and pay them when the tax bill is due.

But don't moan about paying what is actually owed. What is the point of that?

Your example is fine, it means he should be glad he's paying them now... he could have turned his $600 he saved earlier in the year into $1000 if he'd bought some stocks with the extra disposable income.

Call the Waahmbulance.

that's the thing. if i know i have "extra" i would do something with it, or put it away for "rainy day" when i see a helmet i like on sale or get fucked by CRA. I *assume* what gets taken off is what should get taken off. I can understand them gouging ya at first, but hard to see gubermint messing up and not taking enough.