Tax return Guns...

[kmk1012]

I don't think I'll get any guns this year, just might fix up some of the ones I have. You know, new scope or better stock etc.

 

[F2CMaDMaXX]

That's an interesting thought, although i haven't had anything added to the collection for years. Something about emigration, marriage, new job, buying house, i dunno, they all seem so expensive...


H2O, is that because you claim high?

 

[PDXSparky]

If I get enough back to buy a worthwhile firearm, that means I've loaned the government too much of MY money. Between federal and state taxes my goal is to come out even.

 

[The Heretic]

If I get enough back to buy a worthwhile firearm, that means I've loaned the government too much of MY money. Between federal and state taxes my goal is to come out even.

I tried to do that this year, because I had a bunch of deductions and maxed my retirement funds, that put me in a lower bracket, so I claimed a bunch more exemptions. Otherwise I would have had a huge refund.

I calculate I will still get enough to buy a firearm, but I am probably going to have to make some quarterly payments this year due to a timber sale so I am going to set it aside.

 

[erudne]

Food and Meds

 

[Sorcin]

I had planned on getting a 9mm. My thought was to a XDM 3.8 compact. But after a recent trip to the range, the RIA 1911 tactical compact in 9mm has caught my attention. For the moment I am torn. Still got some time to think about it though.

 

[deen_ad]

What refund? Especially this year after we sold some stock and maxed out our 401's for the year as well as putting almost 500,000 in an annuity. The broker said we'd owe some tax on it.


Deen
NRA Life Member, Benefactor Level
Defender of Freedom Award
NRA Recruiter
Second Amendment Foundation Member
Washington Arms Collectors Member
Arms Collectors of SW Washington Member

"A gun is like a parachute. If you need one and don't have it, you'll probably never need one again!"

 

[gaijinsamurai]

I owed more state than I got back from federal.....

That is what happened to me last year. $400 back from Feds and owed State $2k. This year, I'll get to file as a home owner, which I hope works in my favor. I don't earn a lot, my wife works as a waitress part-time for minimum wage + tips, and we have two kids. I'm currently on workers comp for a work-related injury, and getting about $300 less per month than I would if I were getting my paycheck. So, if I'm lucky to come out ahead this year, I'll be paying off bills and the credit cards I've run up over the holidays. I may be trading my Remington 870 for another Swede Mauser (already have two) tomorrow, and if I do, I'll probably replace it with a Mossberg 500 or 590 if finances permit.

 

[1990Turbo]

I hate tax time. My wife and I both claim zero and i put an extra 120 a month into taxes and still owed 1200 last year.

 

[Cheesemaker]

Not sure yet, but maybe parts and scopes. Got enough guns for now, but there is always others that are on the want list.

As for taxes, most of it goes to the Money Market, and gets pulled as needed throughout the year when needed. Especially with three kids and Dr bills. I usually get most from Fed, and pay very little to state. If I try to break even with Fed W2 wise, I end up paying throw the nose to state, so I rather have the Feds hold my money for me till this time of year. Instead of not having any money to pay the state what I owe.

 

[dolooper]

No refund here. We're going to owe.

 

[F2CMaDMaXX]

I hate tax time. My wife and I both claim zero and i put an extra 120 a month into taxes and still owed 1200 last year.

How does that even happen? Do no taxes get taken before your pay cheque?

 

[Trick]

How does that even happen? Do no taxes get taken before your pay cheque?

Obviously I don't know there exact situation, but I'm guessing they both work which is throwing them into a higher tax bracket, are not able to itemize expenses and probably don't have kids or any other potential credits?

 

[dobeman]

I have to pay this year. Refinanced the homestead in 2012 and cut my interest in half which reduced my tax deduction. But I'd rather I hold my money during the year than the Feds and then they give it back interest free as a tax refund.

 

[41Slinger]

My tax lady will get most of the cost of the Ruger American 17 hmr that is in my sights so we'll see how it works out as I just got a Ruger American 22 mag which I shot for the first time yesterday, all good.