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Thread started 15 Mar 2007 (Thursday) 13:12
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TAX Return spending Thread

 
convergent
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Mar 15, 2007 14:20 |  #16

CyberDyneSystems wrote in post #2876029 (external link)
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!


Mike - Victory Photo (external link) | Full Gear List | Feedback
5D3 gripped - 7D2 gripped - 17-40L f/4 - 18-135 f/3.5-5.6 IS STM - 24-70L f/2.8 II - 70-200L f/2.8 IS II - 100-400 L f/4.6-5.6 IS II
135L f/2 - 300L f/2.8 IS - Siggy 15 f/2.8 Fisheye, 100 f/2.8 Macro - TC1.4 II - TC2 III - (2) 600EX-RT - ST-E3-RT

  
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R_Metzel
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Mar 15, 2007 14:29 |  #17

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.


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CyberDyneSystems
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Mar 15, 2007 14:37 |  #18

convergent wrote in post #2876216 (external link)
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 :shock:


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Skippy29
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Mar 15, 2007 15:54 |  #19

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


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KirkM
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Mar 15, 2007 16:22 |  #20

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


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condyk
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Mar 15, 2007 16:27 |  #21

I ended up owing £1.06/$2.00 US! :-(

But my salary increase by around 32% :-)


https://photography-on-the.net …/showthread.php​?t=1203740

  
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Ronald ­ S. ­ Jr.
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Mar 15, 2007 16:30 |  #22

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


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cosworth
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Mar 15, 2007 16:31 |  #23

$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!


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CoolToolGuy
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Mar 15, 2007 16:34 as a reply to  @ condyk's post |  #24

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". :D

Have Fun,


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convergent
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Mar 15, 2007 16:41 |  #25

CyberDyneSystems wrote in post #2876290 (external link)
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 :shock:

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! ;)


Mike - Victory Photo (external link) | Full Gear List | Feedback
5D3 gripped - 7D2 gripped - 17-40L f/4 - 18-135 f/3.5-5.6 IS STM - 24-70L f/2.8 II - 70-200L f/2.8 IS II - 100-400 L f/4.6-5.6 IS II
135L f/2 - 300L f/2.8 IS - Siggy 15 f/2.8 Fisheye, 100 f/2.8 Macro - TC1.4 II - TC2 III - (2) 600EX-RT - ST-E3-RT

  
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Becca
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Mar 15, 2007 17:17 |  #26

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)


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runninmann
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Mar 15, 2007 17:58 |  #27

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.:rolleyes:


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queenbee288
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Mar 15, 2007 20:03 |  #28

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




  
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hard12find
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Mar 15, 2007 20:04 |  #29

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...


20D, 10D, Fuji S-20, Mamiya C220 medium format, Sekonic L-508 meter, 2 alien bee 800's, AB remotes, Sigma 500 HS flash, 70-200 F2.8 L, Sigma 24-70 F2.8 EX DG, lots of glass, lots of stuff,8-)

  
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CyberDyneSystems
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Mar 16, 2007 12:57 |  #30

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


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