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-   -   You have to laugh so you donít cry. Are people really that stupid??? (https://www.thehulltruth.com/dockside-chat/987013-you-have-laugh-so-you-don-t-cry-people-really-stupid.html)

OldPete 02-09-2019 04:54 PM

You have to laugh so you donít cry. Are people really that stupid???
 
Was just reading an article... people are very upset that their income tax return is going to be much smaller this year!

You see, if their total withholding was $5000 and they would get a $2000 refund. They were happy.

Apparently, now their total withholding was $3000 and they are only getting a $1000 refund and they are angry that they are getting $1k less.

I was floored.

NCSUboater 02-09-2019 04:57 PM

No one should ever be happy to get a tax refund. Last year we owed I think $100. That was about right.

WeeKilt 02-09-2019 05:00 PM

God bless the millions that overpay, less the REST of us pay more. You think about that... ;)

RussH 02-09-2019 05:25 PM


Originally Posted by NCSUboater (Post 12228103)
No one should ever be happy to get a tax refund. Last year we owed I think $100. That was about right.

I sure in hell like to get a refund more than I like paying MORE taxes. I will gladly pay a little more than it looks like I should to ensure I don't have to pay more in April. A few years ago we got a refund of about $3K so we changed our exemptions to pay less and the next year we ended up having to pay almost $3K. We have extra taken out so we know we won't have to pay. Actually what's the big deal any way, if you had the money put into a savings account your interest growth would be practically nothing so I have a slightly different viewpoint on tax refunds.

magua 02-09-2019 05:29 PM


Originally Posted by NCSUboater (Post 12228103)
No one should ever be happy to get a tax refund. Last year we owed I think $100. That was about right.

yep, when the wheels touch down from the previous year my goal is to owe as lil' as possible.

autobaun70 02-09-2019 05:42 PM


Originally Posted by NCSUboater (Post 12228103)
No one should ever be happy to get a tax refund. Last year we owed I think $100. That was about right.

yep. I am not upset if I land $1,000 one side or the other. Doesnít make a bit of difference to me which side itís on. In that range the financials are basically inconsequential for me and the government. If I get a few bucks back, it gets split between the 2 kids college funds or on the mortgage like it never existed.

Shag 02-09-2019 05:49 PM

The ones who are upset probably were stoned in math class, or like Pete said, just plain stupid. Or both.

NCSUboater 02-09-2019 05:58 PM


Originally Posted by RussH (Post 12228159)
I sure in hell like to get a refund more than I like paying MORE taxes. I will gladly pay a little more than it looks like I should to ensure I don't have to pay more in April. A few years ago we got a refund of about $3K so we changed our exemptions to pay less and the next year we ended up having to pay almost $3K. We have extra taken out so we know we won't have to pay. Actually what's the big deal any way, if you had the money put into a savings account your interest growth would be practically nothing so I have a slightly different viewpoint on tax refunds.

As long as I owe ~1k or less in April, I'm happy. Note that OWING in April does not mean you're paying MORE in taxes. The big deal is if you get 3k back then basically you shorted yourself $250 a month. That could fund a 529 or half of a Roth. I'd rather not give the government (who is well known for their ability to handle money) an interest-free loan, and instead invest it.


Originally Posted by autobaun70 (Post 12228208)


yep. I am not upset if I land $1,000 one side or the other. Doesnít make a bit of difference to me which side itís on. In that range the financials are basically inconsequential for me and the government. If I get a few bucks back, it gets split between the 2 kids college funds or on the mortgage like it never existed.

Same here. One year we got back something like $5,000. I was pissed and changed our withholding immediately. I'm pretty sure we bought a couch and payed off some stupid debt with it.

dev 02-09-2019 06:07 PM

We pay enough in taxes I don't like giving the IRS an interest-free loan. Most years we owe a few thousand, and that works well. Low enough that there are no penalties or having to worry about doing estimated payments for the next year. A tax refund is just your overpayments coming back to you without any interest, stupid to "want" that.

ChrisW21 02-09-2019 06:08 PM

To answer the OP, Yes...... Yes they are.

Nothing but praise when their weekly check was $38 higher. Now nothing but complaints.

Sad that people really don't understand where their money goes.

SOSC 02-09-2019 06:40 PM

Would rather have a refund than a bill. Sorry, but a thousand dollars may not mean much to the folks on THT, but it does to most others. I dont care if my "loan" to the gubmint is interest free, taxes are inevitable and I'd rather get a refund than a bill.

ChrisW21 02-09-2019 06:44 PM


Originally Posted by SOSC (Post 12228356)
Would rather have a refund than a bill. Sorry, but a thousand dollars may not mean much to the folks on THT, but it does to most others. I dont care if my "loan" to the gubmint is interest free, taxes are inevitable and I'd rather get a refund than a bill.

But all you're doing is giving the gov extra money every pay check rather than keeping that money yourself.

Do you not have enough self-control that you can't do that yourself?? Put that extra money in the bank????

That $1000 isn't free money.

dons2346 02-09-2019 06:46 PM

Give me the bill any day. If I get a huge refund, I screwed up and gave the cockroaches a free loan.

WeeKilt 02-09-2019 07:01 PM

So letís assume just for the sake of discussion that these ďidiotsĒ (Iím one that got a decent refund and was happy about it) had this extra money, just what would you propose I shouldíve done with it in 2018? The IRS didnít publish any hard guidelines on withholding, so it was up to me to decide what level of withholding was best for my situation. Just curious as to what those of you ďTHT Brain Trust WizardsĒ wouldíve recommended, since a search of THT didnít exactly show the light in the aftermath of the tax changes last year?

Iím all for being educated by yíallís immense wisdom... rather than being condescending, offer up a solid plan for 2019, please.

skibum 02-09-2019 07:08 PM

Y'all pay income tax?!

ChrisW21 02-09-2019 07:10 PM


Originally Posted by WeeKilt (Post 12228407)
So letís assume just for the sake of discussion that these ďidiotsĒ (Iím one that got a decent refund and was happy about it) had this extra money, just what would you propose I shouldíve done with it in 2018? The IRS didnít publish any hard guidelines on withholding, so it was up to me to decide what level of withholding was best for my situation. Just curious as to what those of you ďTHT Brain Trust WizardsĒ wouldíve recommended, since a search of THT didnít exactly show the light in the aftermath of the tax changes last year?

Iím all for being educated by yíallís immense wisdom... rather than being condescending, offer up a solid plan for 2019, please.

Easiest thing would be lower your deductions and increase your retirement savings. Comes out as a wash at the end of the year but come retirement you'll be better off.

DNinja 02-09-2019 07:17 PM


Originally Posted by NCSUboater (Post 12228103)
No one should ever be happy to get a tax refund. Last year we owed I think $100. That was about right.

Yep, my wife got upset that the refund last year was only around $500. She was more upset when I said I would adjust with-holdings to get it closer to $zero. In her (business management degree?) mind, she looks at the refund as a Spring Bonus.

"No darling, it just means that we gave the government an interest free loan of money that we could have used through the year."

mikeloew 02-09-2019 07:19 PM

For some of us, our tax rate changes during the year, and not always due to poor planning.

Shag 02-09-2019 07:19 PM


Originally Posted by WeeKilt (Post 12228407)
So let’s assume just for the sake of discussion that these “idiots” (I’m one that got a decent refund and was happy about it) had this extra money, just what would you propose I should’ve done with it in 2018? The IRS didn’t publish any hard guidelines on withholding, so it was up to me to decide what level of withholding was best for my situation. Just curious as to what those of you “THT Brain Trust Wizards” would’ve recommended, since a search of THT didn’t exactly show the light in the aftermath of the tax changes last year?

I’m all for being educated by y’all’s immense wisdom... rather than being condescending, offer up a solid plan for 2019, please.

If you have a fairly steady income a decent accountant can get you real close. If you are in an occupation where your income can fluctuate you may want to meet with him/her maybe quarterly to do a simple tax projection and adjust it accordingly. JMHO

GaryDoug 02-09-2019 08:44 PM

Tax refunds are the poor man's savings plan.


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