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#1
03/29/2005, 03:23 PM
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Tax return
I though it would be interesting to see how many of us are using our tax returns for buying new equipment. I am using it to help with the purchase of lights. Let's get a list started and see what we have got.
Chase p.s. When I filed I promised myself the return was going in the savings account.. that thought did not last long.. It was a lie from the start 
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#3
03/29/2005, 03:39 PM
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Sure, make your own category as "I am keeping a tank to rehabilitate injured reef animals of Florida, it is for the good of the eco system" That might just work
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#4
03/29/2005, 04:29 PM
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RO+DI unit was bought selling crap on eBay and the rest from my Tax Return.
The rest of my Return will fund a trip to Germany
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Tripp You must be this beautiful to ride the Quagmire. Aww Right!!!! |
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#6
03/29/2005, 05:09 PM
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You can get a discount for your hobbies in your income taxes, as long as you are making some money from it I believe. I just learned that this year while doing taxes. Might be something worth checking out.
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#7
03/29/2005, 05:50 PM
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If I didn't owe so much in self employment taxes, I might have a refund to buy new equipment! Actually I sold my camera on ebay to pay for my MD state taxes. I'll get a little back from Federal which is going straight to my credit card. I swear! Either the credit card or a few new corals.
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#8
03/29/2005, 05:51 PM
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word. i was going to do a whole lot of things with my tax return, like return some to leeched savings, pay off credit cards, get some other spring-time neccessities............ i havent actually started a tank yet, and i'm already ITCHING to get into it... was going to wait for a bonus i'm getting around summer time and read as much as i can in the meantime, now im seriously considering blowing the tax return :x (it's great being an independent student)
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#9
03/29/2005, 07:01 PM
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Hopefully I will owe them a bit. I see noreason to give the Fed an interest free loan all year long.
You can right off you business related reef expenses. That means you are making money from the system at some point. If you don't make a profit within three years they will clasify your "Business" as a hobby and disallow your previous deductions.
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Grim tells it like it is. Last year the SEC was the strongest conference but overrated. This year they were just overrated. |
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#12
03/29/2005, 09:28 PM
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Re: Tax return
Quote:
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Beware the power of stupid people in large groups..... |
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#13
03/29/2005, 10:33 PM
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Quote:
 How about a thread namieng all the frags we had to sell to pay your taxes.
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Remember, if the women don't find you handsome they should at least find you handy. {Red Green} |
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#14
03/30/2005, 02:12 PM
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Well, at first my wife said I could have all of the tax return (this was last summer) for the tank. Of course I knew this was too good to be true, but still, I had to hold out some hope. Well, after purchasing our first home last year and not changing our withholdings, we got a FAT return. Once I let that out of the bag, my nice allowance was cut dramatically. Now I've been told that we have to redo the backyard and put the kids in preschool. So I'm now praying I'll be able to get a few hundred out of it all (bring me a skimmer
).And as my sig down below shows, I could use a lot more than what I'll be getting ...
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Jon |
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