Who is excited for Tax season? Woot woot!
What's the highest refund you ever received?

likefunny
Posting as :
works at
You are currently posting as works at
Highlighted IconHIGHLIGHTED

Got around 6k back after my MBA internship. Felt great to get $ back from the taxman

likefunny

Only psychopaths in tax are excited, or people that aren’t accountants.

like
Recent IconRecent

Every dollar you get in refund is a dollar you loaned to the federal government interest free...I prefer to owe come tax time

like

Agree. 2 years ago, I adjusted my withholdings to minimize/eliminate my refund. I then started adding that monthly difference to my savings/investments (originally toward my EF savings, now toward investments).

like

I just did an estimate of mine and will be cutting a check for around $20k - $25k so I am not excited. 😫

like

Yeah .... I’m looking at around $100k.... no fun ... but boy it’s great to earn the kind of money that causes a $100k tax bill

like

I'll start, got ~$7K on my 2019 refund

funny

I'm at my maximum allowable deductions. Yes, I've done the math - at 1% monthly, I've giving up less than $500 in opportunity. Able to claw back because of self-employment which i only figure at the end of the tax year so.

like

Got 15k back (aka paid 0 taxes that year) when I deducted my entire MBA tuition as a business expense during my first year in consulting post-MBA. It also created a Net Operaring Loss to keep deducting it in posterior years

The last tax reform eliminated that loophole, but it was allowed until recently.

FYI, I’m not even a US citizen

like

Ok.

F that crap, I just got out of our rough tax season. On vacation until Feb.

like

Hahaha!

Piggyback off this, what are some good tax write offs/tips ya'll do?

like

The regular - max out HSA, FSA and 401K (I spread between traditional and Roth). Was eligible to deduct Traditional IRA contributions last year as well. On SE, standard lease payments, mechanical repairs on cars, area in home that i use for work, part utility bills, etc.

like

I got like 10k back after undergrad and should get at least 5k this year bc I was unemployed. Last year I got $7500 bc I was fresh out of grad school.

15k

I think I owe money this year

~5K. Max withholding + new child dependent credit.

I’ve usually owed $300-$700 per year. I help my mom with her tax returns and she usually gets back $200-$400 with the EIC.

Related Posts

like

Thoughts on large companies taking PPP loans?

🔮Monday ETH to cross 1k 🔮

like

I know this is an options bowl where most members believe the market will go down, but are there any buy and hold investments you really like?

like

It’s been an interesting 24 hours. So, you know I got out of the VIX Puts at 26 with a small loss. I bought a few DIA July 15 calls at the low at a 309 strike .13 so I did better than I would. Trading the technicals now with DIA and C Puts.

like

What options trading level do I need to do cash covered puts at fidelity?

like

Best resource to learn about the energy generation world and trading? Would appreciate some courses, books, or leads.

like

Any suggestions for a carry on? Considering buying once and crying once on a rimowa, but wanted to hear if there’s some other opinions?

like

Surprised by how skewed towards bankers FB seems to be. Would've thought there'd be a more even balance of bankers and markets people. Interested in hearing people's thoughts.

like
like

Does anyone know if it would be possible to negotiate scholarship $$ with Kellogg after I've already committed and submitted my deposit?

likefunny

Moving from the US to Singapore soon. On a 90k salary, how much should I budget for rent? Ideally I want to live in neighborhoods close to central locations such as Tanjong Pagar, but I’m not sure if it’s possible.

like

I am so kicking myself for not buying BTC like three years ago when I was toying with the idea. Any ideas where to start now? Prices look frothy.

like

Guys ..
When will final settlement take place? What will be the components of it?

Asked this in another group and realized this group might have more insight. Which one should I get: Chase Sapphire Preferred or Chase Sapphire Reserve?
I have a 1.5% cash back card from CapitalOne

like

What’s the one thing you know now about buying a home, that you wish you knew before your first purchase?

Who here has successfully built a side hustle or startup? Who here is successfully creating additional income? Does anyone have resources [books, podcasts, anything] that have helped them?

likeuplifting

Just downloaded Robinhood on my phone and going to learn investing with small amounts. What are some resources to read and make informed decisions? How many $s should a complete noob start with ?

like

Is it financially irresponsible to buy a home that requires you to divert what you’re currently saving / investing monthly to pay the mortgage?

like

Has anyone tried to sell miles or points through one a site. I have a family member looking to do it and I had never looked into. Any experiences? Pros cons

like

More Posts

Let's brainstorm! How can we turn the school's canned food drive into PBL?

like

All my Deloitte fish. What’s the salary range for a Senior Analyst or Manager – US Anti-Corruption Compliance in ATL make? Is Deloitte a good place to work? What’s the work life balance like?

How do you assess the quality of your program? Do you use the ACTE framework?

Anyone working/has worked remotely outside the US during covid? What are the legal/tax/IT implications to be aware of? I’ve been in India for a few weeks and wondering how long I can continue working from here.

like

Hi Folks,
I got offer as infrastructure consultant in TW, what type of projects and clients TW have fro DevOps and cloud work? Pune location.

like

Anyone in Philly during the week?

Time to go SWIMMING !!!

likefunny

McKinsey & Company Hi, I am looking for a referral in McKinsey & Company for the position of graduate business analyst . I did my one year internship in Deloitte USI , just got converted Analyst (FTE) in march 2022. It would be very helpful.

like

Hi!!
I am looking for a referral for Marketing/Product management role, lost previous job in a layoff.
YOE: 2.5

Hi Guys,
Does KGS have a collective disconnect during Christmas time in India?

like

Any Sloanies or Sloan Admit’s in this bowl who wouldn’t mind sharing some tips for the interview? Wondering how technical it may get or what general vibe/questions asked are. Thanks so much!

like

I'm looking for Job in HR Shared Services , Currently working as Manager HR Shared Services in Genpact with 8+ years of experience in Compensation management, Appraisals, Salary planning activities, Annual Bonus activity etc..

I’m a new manager and got added to a new engagement. Everything is overmy head. Usually I catch up within a month. But this engagement is very very different. It will take me a while to get a hang of. The positive is that there is a lot of learning. But I had goals of being a sm in a year or 2 and I don’t see that happening in this engagement. What do you guys think, should do? It’s a huge engagement so it’s room to grow. Should I just suck it up and try?

like

Hi 🐬. Any Amazon /Aws fishes willing to chat. Need to get some info. Amazon Amazon Web Services . Thanks.

like

I just want a decent house on the west side/Culver City/Mid City area of LA, that’s less than $900k. Is that really so wrong?

Planning a one-week summer vacation to Yellowstone Park area. Family unit of 6, so need to rent a single, large SUV. Just looked at prices and the cheapest car available for 6 people with unlimited mileage is $3,500+. Makes the vacation almost not worth it. Anyone have any recommendations on how to get a better deal? Any discount codes? Thank you in advance!!

like

People interested in B-school: what are your top schools and why?

like

Looking for an AS role. Currently in Chicago but open to relocation. Looking to get back into agency world

does EY provide law services to their employees?

like

Additional Posts in Personal Investment Chatter

First baby, already saving in a 529 and UTMA Brokerage for him, what else can be done? Open to ideas on how to best set him up for future success - at least financially

like

SCARED MONEY DONT MAKE MONEY. BUY NOK 🚀🚀🚀🚀🚀

like

Do you think any of the major cruise line companies will go bankrupt? Debating if I should invest.

like

Thoughts on a HYSA vs Vanguard Money Market Fund. Most HYSA are at ~1% and Vanguard MMF is at 1.3%. Should I park my money in a MMF long term, even when banks raise their interest rates?

like

Anyone having experience with opening a brokerage account for an organization (single member llc ideally)? I have a question regarding the set up.

like

Looking to sale majority of my holdings in next bear market rally. Does folks who do tech analysis think we have started one from Friday. Want to sale as much before we get another brutal sale-off before mid terms.

like

For those that trade individual stocks, how do you keep your emotions out? I decided not to buy Wayfair last month due to past volatility (was looking for short term gains) and now kicking myself.

like

My company just announced that they will stop matching for the 401K until 2021 (sigh). Do you think I should lower my investment percentage to get more liquid assets that I can use for buying an investment property at the end of the year and extra funds available for school as I return for masters? Or is there a better way to get returns?

likesmart

What is the best way to get euros out without fees and at the actual exchange rate? Is it best to use an ATM at the destination or is there a better alternative?

like

What's your target retirement savings? Target age? Combined or single?

like

Starting to get into investing and generally a pretty risk averse person so not out here trying to make fast money. What mediums do people generally use to invest? Think I’m too easily stressed to pick individual stocks, but happy to take suggestions for platforms for both. TIA!

like

Anyone have experience with the Financial Advisors from Personal Capital? How was your experience?

like

Looking for thoughts on how I should handle investments. I make around 75k a year, have a comfortable 6 month emergency fund saved, and I have low expenses- car paid off etc. At the moment I’m using wealthfront and putting my surplus there, at this point I’m saving about 80% of my income. Have a 401k w/ 7% employer contribution that I’m doing, and some money in Robinho but that’s more for fun and makes up a negligible amount of what I have. Thoughts, suggestions? 23 yo btw

like

Just passed $1m net worth and thinking about umbrella insurance. Any recs for carriers/strategy?

like

Noob question: I exited an ETF position on TDA however the funds aren’t available for me to plough back in. Any suggestions on how long it takes for a trade to settle?

like

What is a good alternative to a HYS and/or a CD for short term 6-12 month horizon? Low risk similar to HYS/CD, atleast from a principal conservation view.

like

I have a 401k from my previous employer in Meryl Lynch. Current 401k is in fidelity. I would like to know if it’s easier to roll over ex employer contributions to fidelity (or) open an independent IRA account. I don’t intend to withdraw money from or take a loan on 401ks

like

Bitcoin plunged yesterday. Buying opportunity?

like

Help! In the final stages of closing a house purchase for $330k. Appraisal came at $311k ~6%less than the sale price. I myself planned for only 5% down on the original sale price. Contd...

likehelpful

Is there a tool/aggregator that shows returns for different investments by accounting for both dividends and appreciation? And allows you to compare investments? I started using Personal Capital but haven't found a view that meets this need. Am I missing something?

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal