I am always so shocked that people don't know this ... 🤔

[bubbaturbo]

I agree about the IRS. That's where you can really lose money of your own. Many people give them interest free loans of thousands of dollars for months - that's money that you could be earning interest on. My ideal outcome, which I never accomplish, is to write the IRS a check for less than $100 in April. A large refund isn't a windfall, it's a poor way to save. Since retiring, my finances have become more consistent, so hopefully I can more easily hit my April target.

 

[Snattlerake]

that's the biggest joke of all
i'm the most normal guy here lol

I can't wait for the "Bless your heart." that's coming.

 

[Snattlerake]

I agree about the IRS. That's where you can really lose money of your own. Many people give them interest free loans of thousands of dollars for months - that's money that you could be earning interest on. My ideal outcome, which I never accomplish, is to write the IRS a check for less than $100 in April. A large refund isn't a windfall, it's a poor way to save. Since retiring, my finances have become more consistent, so hopefully I can more easily hit my April target.

My accountant wifey hates the Oklahoma Tax tables. She said Oklahoma payroll tax that is withdrawn does not match the tax tables so at the end of the year, instead of getting money back as in the fed, you have to pay more. That is why we elect to have more taken out every check.

This is her at tax time.

 

[bubbaturbo]

I know what you mean. Seems I always end up owing to OK.

 

[wawazat]

The other part of this whole thing to keep in mind is how many companies skim money from a transaction made with a credit card or gift card. My wife worked on a project for some stuff involving these types of transactions and it was pretty eye opening. It also explained why my Christmas bonus from work comes on a Visa gift card. The company actually gets a bit of a kickback to incentivize them to purchase the gift cards to begin with.

It isn't something I would throw a tantrum over at all, but it does make me feel bad for the businesses accepting the payment and how much money gets pulled away by the time they get a deposit in their account.

 

[jakeman]

I agree about the IRS. That's where you can really lose money of your own. Many people give them interest free loans of thousands of dollars for months - that's money that you could be earning interest on. My ideal outcome, which I never accomplish, is to write the IRS a check for less than $100 in April. A large refund isn't a windfall, it's a poor way to save. Since retiring, my finances have become more consistent, so hopefully I can more easily hit my April target.

Closest I’ve ever been to $0 was last year. I owed the feds $7 and I got a $12 refund from OK.

That’s close enough. I’d honestly rather owe them $10,000 than to get a big refund. I’m not sure what most folks don’t understand about that, but there is not more than a handful of my friends & associates that have a grasp on that deal. It perplexes me.

 

[turkeyrun]

Okla tax code sux.

The 3 years before Fauci biohazard, I owed Fed less than $50, each year and Okla, I owed from $200 - $400.


My ex-son-in-law is a moron. He was always bragging about getting $3000, $4000, or more back from IRS. He could never see that was his money, interest free. It actually worked for him, because he spent every dime he had, as soon as he got it.

Took 10 years, but daughter finally figured out he would never have more than $0.10.

 

[turkeyrun]

I had this conversation with my dentist.

Normal isn't a point on a graph. It's more of a range, an area.

And really, it's just whatever people around you will accept; or at least put up with.

THAT was my point.

Wondering what "normal" will be accepted for the Country?

 

[XYZ]

Well yeah. But I've never been a fan of gift cards period.

werd

I generally give government issued gift cards.

 

[Dumpstick]

werd

I generally give government issued gift cards.
View attachment 335831

What the hell is that?