getting like $2,300 back can't make up my mind what I want for my R
1.JDM blk.seats=$1650 shipped from japan (I really like them)
2.Toda spec B cams/gears/springs/retainers/ECU $2750 shipped (hehehe)
3.Mugen or Toda headers/spoon straight pipe/Mugen cat-back exhaust $2150+(worht it?)what would you do?


[Modified by OutLawR, 1:41 AM 2/13/2002]

 

I'd go with choice #2

 

Wow, must be nice to get money back on a tax return. I get nothing back ever. I say WTF; I am a poor college student and I get jacked. What kind of bullshit is that.

 

i'd go with # 2 but in jun

 

Well, getting money back means you gave Uncle Sammy a free loan....if that makes it any better for you.

And as for the money, A SA helmet and some driving school seat time is a definate cool thing to do.


[Modified by Cold Chunker, 9:05 PM 2/12/2002]

 

4.785 FD
I/H/E
Vafc

 

Getting money back means you had more withheld (or paid more in estimated tax payments) than you were actually supposed to pay for the year.

Think of it this way - it's like ordering a bunch of stuff from your favorite ITR merchandise vendor, and not knowing the exact prices. So you send them a check for the amount you think it's going to cost. They figure it out, and if you sent them too much, they send you a refund, and if you sent them too little, you have to send them more.

What really matters is how much you had to pay - not how close you came when you guessed how much it was going to cost.

 

I get 518.00 back, but that doesn't even cover a car payment I'd go with #2 as well!!

 

Buy a daily driver.

 

i'm getting 1844 back. only keeping 500 for myself though. rest is going to credit cards to pay for the rest of my stuff. or so i say now, that what i said last year and somehow i got my wheels. go figure

anyoen got an idea on what 500 will buy me? i am trying to think of something i can use, just can't think of anything.


[Modified by Gravity, 10:13 PM 2/12/2002]

 

Save some of it. 2,300 invested well can be a nice addition to your life savings later in life...**** some Spec B's and get a Ferrari in 15 years.

 

Does anybody knows how long usually it will take for the return to come?
This is gonna be the 1st year for me to get a return...
I file using paper like 2 weeks ago, and asking the refund direct deposit..
6 weeks is good, you think?

and by the way, my filing status is Head of Household..
(do you think they're gonna check real bad? last year I use Single since my sister is not with me)...

Thanks!

and if I the day I get that $$ (if it will ever come), I am gonna pay off my R...
I think if I didn't buy anything for mods, the Car is mine from 6 months ago..


[Modified by PiYoImuT, 10:41 PM 2/12/2002]

 

I'm told 16 business days.

I'm getting enough to cover a payment, I guess thats not too bad. Being a college student sucks!

 

How does the US tax system work??

Sounds like your responsible for paying your own tax (i.e you estimate what your gonna earn and then pay tax quarterly(??) based on your guesstimate, what we'd call the provisional system). Do you get to deduct expenses against your income??

Most people in NZ are on PAYE (Pay As You Earn), which is where your employer pays tax on your behalf each time your paid. In theory you should then pay the correct tax and have no need for a refund, but of course it doesn't work like that.........
Is there anything like that in the US??

Sam - who is an accountant and therefore interested in something as nerdy as tax systems

 

The tax return is the tax form that you mail to the government.

If they owe you money, they send you a refund, not a return.

 

Here's how it works for federal income tax in the U.S. which is probably very similar to NZ.

If you are employed, then your employer deducts taxes from your paycheck (in a process called "withholding") and sends them to the government for you. Just like in NZ.

If you are self-employed, then you are responsible for estimating your taxes for the year and sending in quarterly payments of estimated taxes.

If you are employed but if you expect to owe money at the end of the year (such as for those with income in addition to earnings from working for their employer) then you must pay estimated taxes in addition to your withholding taxes.

After the end of the year (by January 31 of the following year), your employer sends you (and the government) a form telling you how much you earned and how much tax was withheld. By April 15, you must send the government a tax return in which you calculate how much tax should have been paid for the year. If you paid less in withholding and estimated tax payments, you send them a check with it; if you paid more, they send you a refund (or you can have all or part of this kept by the government as part of your estimated tax for the following year).

There are certain expenses that you get to deduct against your income in figuring your tax. You also get "exemptions", an amount that is deducted for each person in your household. The most popular deductions are interest on a home mortgage, state income tax, property tax, and charitable contributions. These are used in determining the amount of taxes for the year, but are not used in determining the amount of tax withheld by your employer (although for those who have big deductions every year, you can have your employer withhold less money by claiming more exemptions).

Many (but not all) states, as well as a few cities, have their own income tax and their own rules for calculating the tax liability. Usually they have similar provisions for withholding tax and estimated tax payments.



[Modified by nsxtcjr, 10:28 PM 2/12/2002]

 

Thanks nsxtcjr, sounds very similar to our system.

Sam

 

Choice #2 but Spec C cams instead

 

Get a nice I/H/E if you don't already have them.
Then I would do the tranny.
Toda clutch and flywheel
JDM or ATS FD
KAAZ or ATS LSD

I don't know how much are those parts in USD, but I am sure it will be close to the $2300 you get back.

 

I got 800 back. Payed off my fiance's ring. Damn almost half way to a used turbo.

 

It took about 2 weeks for my return to get direct deposited to my account.

 

I used the Turbo tax thing on the web. 20 bucks. Those guys are making a killing.

 

Your refund was deposited in your bank account, not your [/b]return[/b].

 

 

Nitpickers