Refund Checks

My personal taxes are tied together with the businesses so we pay tax every year. It would be fun to plan on spending the return on coins but even if there was one, the wife would veto that idea.

Jim

It should be your state/local refund that is added back in, not the federal, and only if you itemize. This is because any refund you get from state/local (again, not federal) increased your net income for the previous year. It only applies when you itemize because that is when you are allowed to deduct your state/local taxes. If you deduct more than you actually end up paying (to the state/local), then you owe tax on the difference. This happens because you cannot complete your state/local form until after you complete your federal.

what jbuck said..

GFR3, You are so right! I was going to start ing about the general state of affairs, but everybody already knows that, so I'll just comment on some of the posts. First, I'd love to see the IRS abolished, and a fair taxing system put in place. Like, for instance, EVERYONE, no matter how rich, or poor, pay the same % of their gross income. No deductions, no excemptions, no nothing! A flat % right off the top, and collected at the source. Then leave us alone to do what we darn well will with our hard-earned money. No one knows better how we can use that income, better than we, those who sre paying thru the nose, and no hope for any respite! That way I would pay out of my retirement pension, and social Security, the same PERCENT as bill Gates would pay out of his income. Fair is fair! The refund check, (if it actually appears), will do nothing more than catch up on a small amount of the actual cost of living we endure for the year, *abd a year later get the COL increase, whish is still behind times). The candidates for the next President, show me nothing! McCain is too old, and I'm not sure if he is still trying to fihure a way tpo get even for Vietnam, but it is a lost cause. "Hollering Hillary" is just trying to get even with BILLY. Obama, He's just trying, period None of them will get more done that any of the past Presidents have gotten done for the same reson: a bunch of self-serving back stabbers with their personal gooals to attend, will keep stabbing, as usual, anf the same thing will be said, after they are gone. There are two things I'd love to see: ABOLISH the electoral college!, and LIMIT the Congressional terms to a total of twenty years,and even that is too lung, but would be a better situation than we have now. As for the coins, they, *cingress) make sure they will never run out of money, by voting themselves a nice paycheck, and retirement as well. Sorry about going astray, but I guess it is "par for the course". Please excuse the spelling. I am an excellent speller, but my eyes don't see where my fingers are going to hit every time! No focal vision.
Dick

Tonibalb: We are the government. Its our money that finances it and we the people elect the idiots that run it.

Seeking: Better choice of people to run it.

Rainman

Yes, I received one a few days ago.

GFR3-You are right. It is time to prepare to take care of one's self, family, and community. The only real choice we have this election is Ron Paul or the rest. The others will all take us down the same path that we have been on. Debasement of the dollar and further loss of liberty. Spent most of my life paying attention to politics. Now, I think is time to smile more often. Searching coins, metal detecting, spending time in the gardens and with the wife: these things make me smile. The good book says that we should spend time thinking about things that are uplifting. I like the sound of that.

Now, what am I to do with that money that the government should not have given me?

The ONLY hope for a third party in OUR lifetime died when Ross Perot was exposed as a wacky lunatic !.......very rich......very smart.......good ideas.....great charts......but a Looney bird !
The two parties are too entreanched.....like it or not.......Being "independant" is becomming more and more popular and that's fine. Their percentage of votes is courted by "both" sides more and more too.... and can decide an election, but they won't likely have a viable candidate for their party anytime in the near future........and he/she would have to be a "messianic" type figure who could get "both" sides to leave their respective parties in droves by the millions.......anybody see that guy/girl on the horizon?.....NOPE !
The problem is that the will of the people and the will of Congress doesn't ever match !.........EVERYTHING goes through Congress........The President gets the credit or the blame........and, when necessary, they "can" do things "without" his signature if they could stand together on what "WE" want as a people......
Good people running for office are getting fewer and fewer is another problem...nobody wants the job because of so many reasons.........
I've always said.......the best people for the job.....WILL NEVER RUN FOR THE POSITION !.......you'll NEVER see them on the world stage or in American politics........they won't do it....they don't want any part of it !