https://twitter.com/MikeZaccardi/sta...31472130072901
A hell of a lot less people getting a refund this year, and refunds are smaller. See figures in the link. My guess is car dealers are going to get demolished. Normally right about now prices go up because so many people spend their refunds on cars. Not this year dealership boyos!!
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02-14-2024, 11:48 AM #1
Tax refunds down 57% so far this year
Light weight! Light weight baby!!!!
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02-14-2024, 12:02 PM #2
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02-14-2024, 12:07 PM #3
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02-14-2024, 12:49 PM #4
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02-14-2024, 12:51 PM #5
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02-14-2024, 01:19 PM #6
- Join Date: May 2006
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02-14-2024, 01:24 PM #7
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02-14-2024, 01:28 PM #8
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02-14-2024, 02:02 PM #12
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I always laugh at people that brag about big refunds. Last year we owed about 4k because we badly miscalculated what we would owe. This year went a little too far the other way but nothing crazy.
(they/them) #ProudVegan We can beat this! Triple Vax. Wear Two Masks (one FFP2/3). Get a Covid Passport. Don't forget your Booster(s)! Asymptomatic long covid survivor
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02-14-2024, 02:04 PM #13
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02-14-2024, 02:10 PM #14
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02-14-2024, 02:43 PM #16
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Getting about the same I get every year which isn't much because I structure my taxes to be taken out of my check properly every month. I don't really need the money right away so I haven't finished doing taxes yet. Probably finish end of Feb
*Updated* If you can't hit a 320 yard drive, are you even a man?
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02-14-2024, 02:53 PM #17
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02-14-2024, 02:56 PM #18
- Join Date: Jul 2003
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Earned Income Tax Credit
https://www.irs.gov/credits-deductio...ax-credit-eitc
Want to see something funny? Go into any Walmart around this time every year and watch them buy shiit.. Whole lotta big ass TV's going out the door."Do you think SHE actually felt like that was a sexual thing he was doing? She's like 6. Only an actual p3do would think that she thought he was groping her, too."
"Not that it's impossible to touch a minor inappropriately, but it is true that a 6 year old girl will not recognize someone putting a hand on their chest as groping, whether it is inappropriate or not."
- Jayarbie
https://forum.bodybuilding.com/showthread.php?t=182007113&p=1671975503#post1671975503
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02-14-2024, 03:03 PM #19
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02-14-2024, 03:19 PM #20
- Join Date: Jul 2003
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"Do you think SHE actually felt like that was a sexual thing he was doing? She's like 6. Only an actual p3do would think that she thought he was groping her, too."
"Not that it's impossible to touch a minor inappropriately, but it is true that a 6 year old girl will not recognize someone putting a hand on their chest as groping, whether it is inappropriate or not."
- Jayarbie
https://forum.bodybuilding.com/showthread.php?t=182007113&p=1671975503#post1671975503
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02-14-2024, 03:56 PM #21
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02-14-2024, 03:58 PM #22
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02-14-2024, 05:01 PM #23
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Some of us have business expenses that can be deducted which minimize the amount of taxes we have to pay and puts us into a lower bracket. I have rental property and an ass load of expenses from last year that I can write off.
Big difference in that and a standard 1040-EZ with just one W-2 that can be filled out in 15-20mins.Last edited by Bushmaster; 02-14-2024 at 05:11 PM.
"Do you think SHE actually felt like that was a sexual thing he was doing? She's like 6. Only an actual p3do would think that she thought he was groping her, too."
"Not that it's impossible to touch a minor inappropriately, but it is true that a 6 year old girl will not recognize someone putting a hand on their chest as groping, whether it is inappropriate or not."
- Jayarbie
https://forum.bodybuilding.com/showthread.php?t=182007113&p=1671975503#post1671975503
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02-14-2024, 05:35 PM #24
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02-14-2024, 05:38 PM #25
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Its shocking how ignorant people are about something as simple as taxes.
They honestly think that because they checked exempt on their w4 that they somehow have removed themselves from the tax system.
They they will pay people to fill out their taxes for them when it takes like 20 minutes and is free to do online yourself.
I got in trouble for not paying enough and it took me a long time to get it squares away so i make sure to pay extra every month to make sure it doesnt happen again. You dont want that smoke as they can really stress you out.
I get a refund every year but i am ok with that, i dont want to mess with them again . They can have the interest free loan as far as i care.
Got my refund state and federal like 2 weeks ago. Just days after filing they were in the bank. My taxes are simple though."To be a warrior is not a simple matter of wishing to be one. It is rather an endless struggle that will go on to the very last moment of our lives. Nobody is born a warrior, in exactly the same way that nobody is born an average man. We make ourselves into one or the other."-- Carlos Castaneda
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02-14-2024, 06:27 PM #26
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02-14-2024, 06:40 PM #27
Wait until the end of summer when the 2025 models are hitting the lots in quantity. A 2024 model year will be a steal. Especially for trucks, which dealers are absolutely oversupplied with already. They'll still be selling virgin 2024 trucks well into 2025, but that's a topic of its own.
Light weight! Light weight baby!!!!
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02-14-2024, 06:46 PM #28
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02-14-2024, 07:12 PM #29
That's why I made this thread. People expecting that $2-4K refund they've gotten in years past are getting back $0-2K this year. That will have an effect on the usual consumer spending that normally happens this upcoming time of year. I'd bet there are plenty of people with college loan debt who were relying on a bigger refund to carry them.
With it being a big election year it's tough to know for sure, but if Republicans don't dig their heels in I'd bet on stimulus programs being announced in the coming months to achieve the sacred 'soft landing' many, including investors, have been praying for.Light weight! Light weight baby!!!!
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02-14-2024, 08:05 PM #30
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Credits vs deductions
People who actually earn real incomes during the year usually offset their taxes with deductions (think itemizing deductions and every category that encompasses). In theory you could offset all of your taxes paid with deductions and owe $0 for the year.
Credits are literally just getting money back and have nothing to do with anything outside of the government giving you money (EITC is just one example, but there are many). In theory, you could start with $0 owed because you didn't earn enough to hit the standard deduction anyway, and then get several thousand dollars in credits where the government is just writing you a check.
And before I make this last point, I'm guilty of it too. But the admonishing people for getting tax refunds as stupid is actually misguided. Yes, if you're in the 45% of the country that actually pays taxes, getting a refund means you gave the government an interest free loan. For the 55% of people who don't pay taxes though, none of that applies. And then there's the 35% who fall into that second category that not only don't pay taxes, but also just load up on credits and get a giant fat "refund" check at the end (except it's not a refund since they paid $0).
Finally, if you don't believe my numbers, please look them up yourself. If you pay taxes, you're in the minority in the country. Seriously. The majority of people pay literally $0. And then we have people with the gall to say that people need to pay their fair share.
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