TAX Return spending Thread

CyberDyneSystems wrote in post #2876029
Ouch Mike... what about deducting the interest at least?

I've got most of the 1D MkIII covered now with tax return.. looks like i can keep the Sigmonster a while longer..

I am deducting the little bit of interest, but its pruning branches on the trees, so to speak. I took advantage of some zero interest credit card loans (which by the way are a great way to raise money quickly). I just made a strategic error in paying off my loans to quickly. I'll have to go back in the til a bit to catch up with the tax bill... The good news is I made some money!

I spent mine already. Bought a used XT, Grip, Nifty, Tamron 28-75 2.8, Bag, CF cards, Batteries, flash and a new computer. Camera stuff was to replace some of my gear I had to sell to get my Jeep fixed and cover a tuition hiccup. Slowly building it back up though.

convergent wrote in post #2876216
I am deducting the little bit of interest, but its pruning branches on the trees, so to speak. I took advantage of some zero interest credit card loans (which by the way are a great way to raise money quickly). I just made a strategic error in paying off my loans to quickly. I'll have to go back in the til a bit to catch up with the tax bill... The good news is I made some money!

And the money.. did it buy gear for business (depreciation)

What a bummer though. But like you said, it means you made money! (which I have not come close to breaking even yet!)

My Brother in law was in the same boat a few years back.. his machine shop did ... I don't know.. so many hundreds of thousands.. he owed about 30,000.00

New floor in the family room and it paid for my EF-S 17-55

My average yearly tax payment to the Federal Government the last 10 years has averaged about $1,500. This year will be no different !

Kirk

I ended up owing £1.06/$2.00 US!

But my salary increase by around 32%

Being self-employed, I don't get refunds..I pay taxes.

$2600 coming to me. Just sold my Mk.II, have a 1Ds that I'd like to upgrade... maybe a new 1Ds Mk.II is in my future.

Wife wants a laptop too. Give her this one and buy some new supercomputer for the massive files.

options!

I'm getting a refund from Federal and State (about $1500), and that will go to household needs -

But I got a small chunk of an inheritance that I am putting aside for the "40D".

Have Fun,

CyberDyneSystems wrote in post #2876290
And the money.. did it buy gear for business (depreciation)

What a bummer though. But like you said, it means you made money! (which I have not come close to breaking even yet!)

My Brother in law was in the same boat a few years back.. his machine shop did ... I don't know.. so many hundreds of thousands.. he owed about 30,000.00

I've got all the traditional business expenses in there... insurance, sales tax, equipment depreciation, supplies, vehicle, travel, utilities, etc. I need to look at what other things might be possible given that I'm operating out of my home office.

I officially started my business(s) in 2003 and this is the first year I made a profit, so its a new problem... but I still have a full time job also so that is compounding the problem. I need to decide what the heck I want to do when I grow up!

Oh well, I guess I'm taking this thread off on a tangent. Sounds like there is a mixed bag here of "people that will pay", and "people that will play". I hope to pay and play!

I got about $1500 combined state and federal which I used to get my Bigma and Sigma 17-70. It was a good year! And I just got a 4k bonus that will be spent in Africa (or at least on stuff for Africa)

I mis-calculated this year and actually got a small refund. Typically, I try to pay as much as I can without incurring penalties. I'd rather have my money throughout the year instead of making an interest-free loan to the government. My refund will go towards new window coverings for the master suite.

I am getting back $1300. I am probably going to get the 17-55 IS.

new 70-200F2.8 L for me, new computer/camera backpacks for me and my son EasyPic10D, new sigma pair for him too. Whoo Hoo...

It turns out that the first $300.00 is dedicated to a replacement Motherboard for my new system.
Another chunk is going towards a new Kimber .45

That leaves approx 75% of what I will need for a MkIII