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Do you "exaggerate" on your Taxes?

Discussion in 'Members' Lounge' started by get_nick, Jan 17, 2008.

  1. get_nick

    get_nick These snozzberries taste like snozzberries... VIP

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    So it's tax time. I just thought I would ask if you guys have ever "exaggerated" on your taxes.

    It could be claiming a couple extra miles for work or some expenses or even claiming an extra kid and wedding.

    Now I know there are legal issues here, but I know everybody has stretched a little bit.
     
  2. reckedracing

    reckedracing TTIWWOP VIP

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    extra kid needs a social security number so thats out

    less than 1% of citizens actually receive an audit
    as long as you keep your numbers from raising red flags then you should be good
     
  3. get_nick

    get_nick These snozzberries taste like snozzberries... VIP

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    i was kidding about the extra child part. haha.

    i try to keep it as legit as possible. i don't file extra homes or anything like that. i stretch my mileage a little bit. I feel like the government rapes me every year. still no justic though.
     
  4. TurboMirage

    TurboMirage YEEAAAHHH VIP

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    last thing i want is a paper trail on my ass, so no i dont stretch things.
     
  5. BigJ

    BigJ I'm just about that action Boss. VIP

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    hmm. I usually fluff my school expenses and interest paid on student loans. But otherwise no.
     
  6. Briansol

    Briansol Admins Admin VIP

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    i write off every single thing i can think of. i need to get back some of the $27,000 withheld from me in 2007.
     
  7. endlesszeal

    endlesszeal Senior Member

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    damn B. claim me as a child and we'll split 75/25, ill take the 25.
     
  8. LS_VTEC

    LS_VTEC you get the BRAKE

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    Claiming extra expenses on your taxes can be easy, IF you own a businness. But personally, I wouldn't do it. Thing's tend to always catch up to you later on.
     
  9. DarkHand

    DarkHand Senior Member VIP

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    I've got nothing... 1040EZ for me, getting around $850 back this year, first refund in 4 years... Took me 4 years to recover from accidentally claiming exempt one year and having no taxes taken out. I took the job I'm still in now as a temp position, expected to be here for a month or two, so I claimed exempt. Forgot to change that status and worked for a full year before catching it.

    Then I got hired on full time, and just got one of those great promotions-with-no-raises. With no taxes taken out back then, I was making more as a temp than I am now. :mad:

    I really need to start itemizing though.
     
    Last edited: Jan 17, 2008
  10. reckedracing

    reckedracing TTIWWOP VIP

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    all your student loans are reported under your SSN
    you can't be that stupid

    you need big expenses to itemize, usually owning a home with mortgage interest and real estate taxes
     
  11. Briansol

    Briansol Admins Admin VIP

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    yeah, you need to beat the standard deduction (5200 i think it is?) before itemizing makes a difference.
     
  12. jamesA

    jamesA Well known pissed off telephone guy VIP

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    I used to stretch my old rent figures. I'd tell them I paid rent of like 700 a month when it was like 350.
     
  13. nootrac22

    nootrac22 Well-Known Member VIP

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    as far as real estate taxes, is that
    a)property tax
    b) school tax
    c) both
    I never remember. Still waiting for my W-2 to come in. The tax return this year will pay off the lawyer and get me divorced. If the ex files her taxes this year I'll get up to $2500 of it for back child support, which will pay for someone to put the bathroom in the basement (i already bought everything for it). Then rent out the house for a year payback my parents the 6grand I owe them for helping me with the lawyer, and I'm back on a level playing field. Now if I can get this job (which is similar to what I do now) for $39/hr life will be good. Oh, and for the record I would never do anything ilegel with my taxes, then admit to it. that's stupid.
     
  14. reckedracing

    reckedracing TTIWWOP VIP

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    both count as RE taxes for itemized deductions
     
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  15. BigJ

    BigJ I'm just about that action Boss. VIP

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    I meant I fluff my school expenses and claim my interest paid on student loans(if any). lol.

    When I made 28k I got a humongous tax return when I was 18. That was legit.
     
  16. smarty009

    smarty009 Senior Member

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    so what are some normal things that you can write off...so i can write off the mileage it takes for me to get to work and home from work? and what else?
     
  17. Briansol

    Briansol Admins Admin VIP

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    no
     
  18. ThatGuy4life

    ThatGuy4life The Riced Sleeper

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    +1^^^^^^^^^^
     
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