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Thread: New tax laws for 2008?

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  1. #1
    Everything I have is slow 2001GTTT's Avatar
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    New tax laws for 2008?

    Can anybody clarify this for me? Ive been hearing that Bush has set forth a 145 billion dollar tax refund that is to be distributed along with the regular tax returns. Is this in effect this year? WTF? im confused.
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    far from a newb!!! INSANELY CRAZY's Avatar
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    i heard this also, sposa be set at $800 for single and $1600 for married couples
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    Everything I have is slow 2001GTTT's Avatar
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    sweet
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    Senior Member Rodeheaver's's Avatar
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    Thats cool, just make sure you all spend it at my shop. hehehe
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    Senior Member blkp42e's Avatar
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    $1600!!!!! yay

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    Senior Member SV1000s's Avatar
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    Unfortunately it hasn't been passed yet. If/when it does, looks like we have to wiat until June/July in order to receive our additional refund checks. Better late than never!




  8. #8
    Senior Member Ares's Avatar
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    Just got my tax refund today and now this lil bonus coming from uncle sam....WOOT!!
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    Senior Member wick's Avatar
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    Looks like we wont get anything. HAHA
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    ..::Dangerous Beauty::.. One Sweet Day's Avatar
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    yeah I was just talking about this with my mom. stock market is crazy right now. but at least interest on mortages went down as a result!

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    far from a newb!!! INSANELY CRAZY's Avatar
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    1200 plus 300/per kid... =2100 for me YAH!!!!!!!!!!!!!!!!!!!!!

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    ILLBEATU fastfox91's Avatar
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    i know i could use it i need a new set of tires for this coming race season

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    Senior Member SUPERDUTY's Avatar
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    well just got our taxes done and I was talking with the tax guy he said anyone getting the refund will claim it next year so its not free and clear. The gov just wants you to spend some cash now to boost the economy. People get all excited and act like they have all this extra loot to spend until next year when tax time comes lol.
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    whatever it takes stangfever's Avatar
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    ah so we will have to pay back the difference . it comes off the next years taxes . an advance if u will .... only return u will get next year is what u initially get over what they give u now .. if ur return next year is 2000 and they give u 1200 now u then will only get 800 .... and if ur return is only 1000 and u get 1200 now u just got 200 dollars for free .... either way this does not work out for me ............

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    im working on adjusting my W4 again. trying to go for an even 0.

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    far from a newb!!! INSANELY CRAZY's Avatar
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    the last time the gov did this we didnt have to claim it on that yrs tax. hopefully this time will be the same. but i also think by waiting till june it's not gonna help the economy.

    i know alot of people who say there gonna bank it, instead of spending it.
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  17. #17
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    Quote Originally Posted by INSANELY CRAZY View Post
    the last time the gov did this we didnt have to claim it on that yrs tax. hopefully this time will be the same. but i also think by waiting till june it's not gonna help the economy.

    i know alot of people who say there gonna bank it, instead of spending it.

    back when they did this in 2001 it was deducted from the 2002 taxes.

    i am banking mine, just not sure where yet

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