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-- I'm glad I'm not going to WMC!!!!!
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I'm glad I'm not going to WMC!!!!!

I just did my taxes and I owe A LOT!!!!!

that sucks i got a nice large refund.

haha i owe $650 so i know what you mean!

Re: I'm glad I'm not going to WMC!!!!!

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Originally posted by DjWoody I just did my taxes and I owe A LOT!!!!!

Ouch Thankfully, I broke even this year. But isn't there some way you write off WMC

Re: I'm glad I'm not going to WMC!!!!!

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Originally posted by DjWoody I just did my taxes and I owe A LOT!!!!!

That just means you made a lot of money.

You rich?

Re: Re: I'm glad I'm not going to WMC!!!!!

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Originally posted by GPC Ouch But isn't there some way you write off WMC

If you were a professional dj you probably can (ie file a schedule C or equivalent). The intent of the trip would have to be to perform or further your career. Have some sort of a profit motive.

Woody could write off much of his trip expenses if he attended. WMC is a version of a large trade show.

Why not. Business is done on golf courses, baseball games, etc. . . all the time. What's the difference?

Write off or not, you still need cash to support such a trip.

i owe Uncle Sam $300 this year.

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Originally posted by djGT i owe Uncle Sam $300 this year.

I'm not sure what it is that you do but consider getting a decent tax accountant.

My guy gets me major jack back every year.

heh, I owe $700 and im a poor college student...them basturds.

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Originally posted by Boomer187 heh, I owe $700 and im a poor college student...them basturds.

lol thats like my 2005 income

it's better to owe than to have the gov owe you.

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Originally posted by lex400sc it's better to owe than to have the gov owe you.

not when you don't ahve any money.

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Originally posted by Cool Xone I'm not sure what it is that you do but consider getting a decent tax accountant.

It's not too bad considering I claim 2 for federal and 1 for state. I think my tax advisor saved me quite a bit.

I decided after all to cancel. I am quite happy about the money I am saving, and the awesome powder I am going to be carving through this weekend in in Tahoe

But I am not going to lurk around here much in the next couple weeks. There's not much going on around here, and I don't want to hear how awesome it was in Miami, bla bla bla. I went the last 2 years, so I am content with that for now...and there is always next year. Of course it will be even MORE expensive!!!

dont worry, your not the only one

I love claiming '0' on my taxes, I always get a big ass refund
My refund this year is going towards a new car.

What's the difference between claiming zero and claiming one?

The number of exceptions you claim decreases the amount of federal and state taxes that are withheld. So if you claim single-0 you will have more taxes taken out than if you were single-3.

Your tax liability at the end of the year remains the same; it's just the amount that is withheld will be different.

The way the tax tables are set up is the average single person with no dependants with a w-2 and uses the standard deduction should be single-1. Remember this is just an average.

Also, you can always go to your employer and change your withholdings by filling out a new w-4.

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Originally posted by DjWoody What's the difference between claiming zero and claiming one?

Everyone I know who claims 1 owes money and everyone who claims 0 gets a refund. Might not always be the case but Id rather have a little more taken out of my check and get some back than have to owe.

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Originally posted by DjWoody I just did my taxes and I owe A LOT!!!!!

Woody I feel your pain...I owed "A LOT" too and so I had to cancel my trip to Miami...I will however be going to Europe in May for my birthday

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Originally posted by lex400sc it's better to owe than to have the gov owe you.

hell yeah...if the gov owes anyone, then they got took!

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Originally posted by Protege Everyone I know who claims 1 owes money and everyone who claims 0 gets a refund. Might not always be the case but Id rather have a little more taken out of my check and get some back than have to owe.

I claim 2-3 and I never owe. I do however have a friend from HR Block who does my taxes.
The difference between claiming 0 or 1,2,3 is with 0 they hold your money until the end of the year. Think of the irs as a non interest bank account. The money is yours. I say claim 1 and put that money into an ING account. The IRS doesn't give you interest.

Re: I'm glad I'm not going to WMC!!!!!

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Originally posted by DjWoody I just did my taxes and I owe A LOT!!!!!

How much is ALOT??
i had to pay 7400$ last year, damn uncle sam

Re: Re: I'm glad I'm not going to WMC!!!!!

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Originally posted by MR STROKE How much is ALOT?? i had to pay 7400$ last year, damn uncle sam

ok, you win!!!

Re: Re: I'm glad I'm not going to WMC!!!!!

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Originally posted by MR STROKE How much is ALOT?? i had to pay 7400$ last year, damn uncle sam

yeah, before write offs i owe 7000$ but im seeing my branch managers accountant and after write offs i should be around 3000$

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