Tax Return - How much you getting back/paying this year?

[resistanze]

So Resistanze;

Is this "other people's money" that is being redistributed to you, or did you give Ontario and interest free loan?

Believe me it's nothing like food stamps you received growing up.

95% of my return was due to my contributions to my Registered Retirement Savings Plan. Money put into this plan (savings account, bonds, mutual funds) are tax-deferred and grow tax-free (i.e. reduces your yearly taxable income). You are taxed on the money when you withdraw after retirement. One of those evil socialist Canadian things (like healthcare) thought up to encourage saving for retirement , tbh

[Wild Cobra]

Believe me it's nothing like food stamps you received growing up.

95% of my return was due to my contributions to my Registered Retirement Savings Plan. Money put into this plan (savings account, bonds, mutual funds) are tax-deferred and grow tax-free (i.e. reduces your yearly taxable income). You are taxed on the money when you withdraw after retirement. One of those evil socialist Canadian things (like healthcare) thought up to encourage saving for retirement , tbh

So, you have no control over how much is taken out in taxes? Are you forced to give your government a tax free loan? I account for my 401k and medical insurance payments. I adjust my W-4 to not take out too much in taxes.

PS.

You guys keep looking more and more stupid every time you pull out that Food Stamp BS. A few months of using a safety net like intended is not "growing up" on it, you stupid ignoramus.

[Wild Cobra]

So Wild Cobra? Are you telling me your deductions are spot on, or are you one of those re s who underpays every year ?

If preferring to write the government a check for taxes instead of giving them an interest free loan is being re ed. Then yes. I am one of those re s. I have no problem s ing out a few hundred dollars, and I can save more than that $1,100 in a year in my sleep. I save it in an interest bearing account. Not with a 0% interest loan to the government.

[Wild Cobra]

http://www.spurstalk.com/forums/showthread.php?t=228194

1/22/14:

I just finished doing my federal return. I'll be writing them a check for $49. I don't know what it's like to get a fat check from my Uncle Sam.

Just did my state return. I'll be sending them $111.

[DUNCANownsKOBE]

those 0.01% interest rate savings accounts, you're really showing me with the 25-50 cents you're getting in interest every year!

[resistanze]

So, you have no control over how much is taken out in taxes? Are you forced to give your government a tax free loan? I account for my 401k and medical insurance payments. I adjust my W-4 to not take out too much in taxes.

What are you on about? As I said you are taxed on withdrawal in retirement. The obvious benefit is 1) growth of your investments while you contribute (stocks, mutual funds, bonds, high interest savings accounts) are tax-sheltered; 2) the tax you pay in retirement is most likely lower than in your working days (lower tax bracket). Don't know why you keep saying 'tax-free loan' I explained how this is essentially the opposite of this.

PS.

You guys keep looking more and more stupid every time you pull out that Food Stamp BS. A few months of using a safety net like intended is not "growing up" on it, you stupid ignoramus.

Wasn't that other people's money? I thought you wouldn't approve of the victim mentality of welfare recipients, tbh

[DUNCANownsKOBE]

What are you on about? As I said you are taxed on withdrawal in retirement. The obvious benefit is 1) growth of your investments while you contribute (stocks, mutual funds, bonds, high interest savings accounts) are tax-sheltered; 2) the tax you pay in retirement is most likely lower than in your working days (lower tax bracket). Don't know why you keep saying 'tax-free loan' I explained how this is essentially the opposite of this.


Wasn't that other people's money? I thought you wouldn't approve of the victim mentality of welfare recipients, tbh

He's just fine with the victim mentality (like his girl Mic e Bachman getting millions in farm subsidies)

[resistanze]

He's just fine with the victim mentality (like his girl Mic e Bachman getting millions in farm subsidies)

But...but the welfare queens are gaming the system! They're taking 0.001% of our money! This enrages me more than Republican welfare queens!

[Wild Cobra]

those 0.01% interest rate savings accounts, you're really showing me with the 25-50 cents you're getting in interest every year!

My credit union does better than that.

[Wild Cobra]

What are you on about? As I said you are taxed on withdrawal in retirement. The obvious benefit is 1) growth of your investments while you contribute (stocks, mutual funds, bonds, high interest savings accounts) are tax-sheltered; 2) the tax you pay in retirement is most likely lower than in your working days (lower tax bracket). Don't know why you keep saying 'tax-free loan' I explained how this is essentially the opposite of this.

What was the $1,100 you got back? Redistribution from others, or because too much was taken out in taxed from you paycheck? If it much too much taken from your paycheck, that was money that you could have saved in some other manner.

Wasn't that other people's money? I thought you wouldn't approve of the victim mentality of welfare recipients, tbh

You don't ever see the points I make, do you. I am fine with social programs as short term safety nets for people. I am not for these programs as a lifestyle. I have clarified this at least a dozen times in these forums. Your lame attempt of using the fact there was one short period of my life, where my mother took food stamps , is ridiculous. It was never a lifestyle for us. I find it amazing that people can have any pride at all living that way.

[resistanze]

What was the $1,100 you got back? Redistribution from others, or because too much was taken out in taxed from you paycheck? If it much too much taken from your paycheck, that was money that you could have saved in some other manner.

Are you trying to melt my brain? Read my 2 posts above or do a Google search on 'RRSPs'. Putting money into a RRSP savings account nets 1.5% interest, plus you get a reduction of your taxable income of whatever you contributed to the RRSP account (hence why I got back $1100).

You don't ever see the points I make, do you. I am fine with social programs as short term safety nets for people. I am not for these programs as a lifestyle. I have clarified this at least a dozen times in these forums. Your lame attempt of using the fact there was one short period of my life, where my mother took food stamps , is ridiculous. It was never a lifestyle for us. I find it amazing that people can have any pride at all living that way.

Pulling yourself from your bootstraps and not accepting handouts is the only way, tbh

[Wild Cobra]

You fail to understand. No problem, I'm done wasting my time.