State Income Tax

[Tired Old Man]

I am lucky enough not to have to pay a State income tax. But if I did and had a refund due and they held it for ......?
I think next year I would claim ten kids and send them what I would owe.
I have a co worker that has extra money held out each week on his Federal tax and feels like he hit the Lotto each year.
Personally I think we should all write a check each month for what we owe in tax both State and Federal.
Tea Party ? Hell it would be a Tea Tsunami .





http://wcbstv.com/topstories/paterso...2.1569690.html

New York State Tax Refunds Put On Hold

[Blu-ray]

Originally Posted by Tired Old Man

I am lucky enough not to have to pay a State income tax. But if I did and had a refund due and they held it for ......?
I think next year I would claim ten kids and send them what I would owe.
I have a co worker that has extra money held out each week on his Federal tax and feels like he hit the Lotto each year.
Personally I think we should all write a check each month for what we owe in tax both State and Federal.
Tea Party ? Hell it would be a Tea Tsunami .

http://wcbstv.com/topstories/paterso...2.1569690.html

New York State Tax Refunds Put On Hold

Basically, the individual who has the excess amount taken from his paycheck every period is giving the government an interest free loan. He should take the money, put it into a savings account, and earn interest on said money.

[Freddy]

Originally Posted by Blu-ray

Basically, the individual who has the excess amount taken from his paycheck every period is giving the government an interest free loan. He should take the money, put it into a savings account, and earn interest on said money.

Well, I do not know how much your bank pays on savings, but mine pays about 1%. Guess that is better than letting the government have it for the year.

[Tired Old Man]

Originally Posted by Blu-ray

Basically, the individual who has the excess amount taken from his paycheck every period is giving the government an interest free loan. He should take the money, put it into a savings account, and earn interest on said money.

What ? Damn you must have a very good bank.....lol. Interest from a bank today ?
OK that was rude of me to say. Even without interest Blu-ray you are correct.
I have zero deductions and claim the same for federal tax. I still get a refund
( that's a joke ) from $800 to $1200 a year. It is not a refund it is an over payment in tax. I wonder how many people do the same thing......

If everyone had to send a check at the end of the year instead of getting a so called refund weather it was State or Federal how long would people put up with it.

But back on topic here. State income tax. Florida has none. But we do have property tax. So much for staying on topic....lol
If you pay a State income tax and get a refund but they hold it for how every long. Will you claim the next thing next year or adjust your filings so you have to pay them.
I think I would prefer to owe the State than wait on a so called refund.

[Blu-ray]

Originally Posted by Tired Old Man

What ? Damn you must have a very good bank.....lol. Interest from a bank today ?
OK that was rude of me to say. Even without interest Blu-ray you are correct.
I have zero deductions and claim the same for federal tax. I still get a refund
( that's a joke ) from $800 to $1200 a year. It is not a refund it is an over payment in tax. I wonder how many people do the same thing......

If everyone had to send a check at the end of the year instead of getting a so called refund weather it was State or Federal how long would people put up with it.

But back on topic here. State income tax. Florida has none. But we do have property tax. So much for staying on topic....lol
If you pay a State income tax and get a refund but they hold it for how every long. Will you claim the next thing next year or adjust your filings so you have to pay them.
I think I would prefer to owe the State than wait on a so called refund.

Don't be shocked with all these budget crunches we're having in Florida that an amendment to the Constitution isn't initiated to make a state income tax allowable.

It's not that bad really. When I lived in Arkansas (did I just admit to that!? Well it was only for about half a year. NE WAYS) I had to file both state and federal. What was interesting is that what I had paid in state income tax I received back some from the state as a refund, and the rest I got back on my Federal income tax. So it netted to a zero amount of state taxes paid.

[Tired Old Man]

Originally Posted by Blu-ray

Don't be shocked with all these budget crunches we're having in Florida that an amendment to the Constitution isn't initiated to make a state income tax allowable.

It's not that bad really. When I lived in Arkansas (did I just admit to that!? Well it was only for about half a year. NE WAYS) I had to file both state and federal. What was interesting is that what I had paid in state income tax I received back some from the state as a refund, and the rest I got back on my Federal income tax. So it netted to a zero amount of state taxes paid.

You know I would Almost be willing to go with a state income tax as long as it took away the property tax.
It would be kind of nice to truly own my house. Just my luck we would have both.
I don't think we will get a state income tax here. But if we did I would claim 100000 dependents......lol
Hey so I would have to mail a check at the end of the year. Could be better than getting an IOU.

[Blu-ray]

Originally Posted by Tired Old Man

You know I would Almost be willing to go with a state income tax as long as it took away the property tax.
It would be kind of nice to truly own my house. Just my luck we would have both.
I don't think we will get a state income tax here. But if we did I would claim 100000 dependents......lol
Hey so I would have to mail a check at the end of the year. Could be better than getting an IOU.

Actually, the income tax would be on top of the sales tax, communication taxes, utility taxes, vehicle tax, and property taxes we already pay.

[DontBeAfraid]

What is wrong with a state income tax? States need money too.

[Tired Old Man]

Originally Posted by Blu-ray

Actually, the income tax would be on top of the sales tax, communication taxes, utility taxes, vehicle tax, and property taxes we already pay.

I was going to say your starting to sound like DBA.

Originally Posted by DontBeAfraid

What is wrong with a state income tax? States need money too.

DBA I have to ask is there a tax you don't like ?

[Cyranothe2nd]

Blu-Ray--what I do is claim the max deductions for half the year and the minimum for the other half of the year. Usually by the end of the year I either owe nothing or get a very small check back (except now I'm in school and get a buttload of tax credits, but before this worked really well).

[DontBeAfraid]

DBA I have to ask is there a tax you don't like ?

Hmm... I dont know. I used to hate them but they serve a very real and useful purpose.

[perfectly_flawed]

While taxes are useful to an extent i have to ask why, me being a single mom and claiming no dependents, still had to pay almost 1900 this year?? This baffels me, this is the first year of doing taxes since my divorce, i made more than my ex and he got the 1900 back that i had to pay in... i think i hate taxes because i do not understand them and numbers make me dizzy... words are fine, numbers are scary....

[Abyssal_Worm]

Originally Posted by DontBeAfraid

Hmm... I dont know. I used to hate them but they serve a very real and useful purpose.

Property taxes perhaps? If someone "buys" the property, it should be theirs. With the annual property tax it really just boils down to renting the property from the state/local government. If the state/local governments have the right to tax the property, whats to stop the Federal government from taxing the states? In theory they are on US property and should be held to the same standard...

Not picking a fight, just tossing an idea around...