Re: Do as I say, Not as I do
Quote:
Originally Posted by
StoopTroup
In other news...
Romney files for extension on his 2011 tax return
By
Blake Ellis @CNNMoney April 13, 2012: 7:07 PM ET
NEW YORK (CNNMoney) -- Like millions of other Americans, Mitt Romney isn't going to be ready to file his taxes on time this year.
The former Massachusetts governor and his wife Ann filed for an extension for their 2011 taxes, according to tax forms released by the Romney campaign on Friday.
The documents included Form 4868, which grants taxpayers a six-month extension to file their returns. The form listed the Romneys' estimated tax liability as $3.2 million, and stated that the family has already made payments of $3.4 million. A second form showed that the Romneys applied a payment of $887,000 toward estimated taxes when they filed for the extension.
Earlier this year, the
Romneys released an estimate of their 2011 taxes, which was the same $3.2 million amount that appeared on the extension form.
A campaign spokeswoman said they will release their 2011 tax return when it is filed, presumably within the next six months. She also noted that the couple has filed for extensions in prior years as well.
For the 2010 tax year, the Romneys paid $3 million in taxes on $21.7 million in income.
http://money.cnn.com/2012/04/13/pf/t...sion/index.htm
Even if you file for an extension you still have to make an estimated tax payment or you could be subject to penalties.
Re: Do as I say, Not as I do
Hey oblama, kindly shut your racist, business hating loser ***. I can't wait until the liberals get kicked the ****ed out of office.
Re: Do as I say, Not as I do
The oligarchy being the oligarchy. Oh the rage.
There is no fairness, nobility, justice, and equality. The middle class will be run to the ground, and this country with it.
Re: Do as I say, Not as I do
I had a conversation with someone, who shall remain nameless, recently that speaks to the class warfare that is taking place. I was doing them a favor and preparing their taxes for them. I used Turbotax as their filing was pretty simple and I am not an accountant. It was merely a favor. I explained that they were getting a refund of X dollars. They complained that this was an example of the rich getting richer because my wife had disclosed that my refund was 3 times their refund. They think I am rich, by the way.
I had to explain that they were refunded 100% of their taxes plus $305 from the earned income tax credit. Me, not so much.
For the record, I am not rich. Even by President Obama's standard.
Re: Do as I say, Not as I do
Quote:
Originally Posted by
Midtowner
True. And it's not like Romney does his own taxes. When you start dealing with tax situations like that, you're pretty much going to always be involving large accounting firms.
As far as the President's situation, it's not a "tax shelter." Saying as much demonstrates that the writer doesn't really have much of a grasp on the tax code or what he's writing about. The Obamas have already paid taxes on that money. Their daughters simply don't have to pay gift tax on that money as it is gifted to them or their trusts or whatever. There's a 12K per year limit (24K for couples) on gifts coupled with a gift and estate combined $5MM lifetime limitation. If you've ever inherited something and not had to pay estate taxes, you're basically taking advantage of the same part of the Tax Code the Obamas are.
Last I knew it was $10,000. I didn't know what the lifetime max was though and didn't know there was a max....I just thought it was around $10,000 a year. Of course I don't sit around reading the tax codes like Vet does. When he's not pouring through the tax code he's usually busy trying to get the smell of stupid out of his furniture.
Re: Do as I say, Not as I do
Quote:
Originally Posted by
SCOUT
I had a conversation with someone, who shall remain nameless, recently that speaks to the class warfare that is taking place. I was doing them a favor and preparing their taxes for them. I used Turbotax as their filing was pretty simple and I am not an accountant. It was merely a favor. I explained that they were getting a refund of X dollars. They complained that this was an example of the rich getting richer because my wife had disclosed that my refund was 3 times their refund. They think I am rich, by the way.
I had to explain that they were refunded 100% of their taxes plus $305 from the earned income tax credit. Me, not so much.
For the record, I am not rich. Even by President Obama's standard.
Sounds like they could have gotten the same favor for free from H&R Block without bugging you?
Re: Do as I say, Not as I do
Quote:
Originally Posted by
AlboSooner
The oligarchy being the oligarchy. Oh the rage.
There is no fairness, nobility, justice, and equality. The middle class will be run to the ground, and this country with it.
As long as folks keep voting for the same Republicans and Democrats, this will be the case. Both parties are agents of the ruling class. Dumb people will continue to vote against their own self interests.
Re: Do as I say, Not as I do
Quote:
Originally Posted by
StoopTroup
Last I knew it was $10,000. I didn't know what the lifetime max was though and didn't know there was a max....I just thought it was around $10,000 a year. Of course I don't sit around reading the tax codes like Vet does. When he's not pouring through the tax code he's usually busy trying to get the smell of stupid out of his furniture.
How does trying to remove the smell of stupid compare to trying to remove the smell of pharmaceuticals?
Re: Do as I say, Not as I do
Quote:
Originally Posted by
Curly Bill
How does trying to remove the smell of stupid compare to trying to remove the smell of pharmaceuticals?
It must really hurt when he gets his panties in that big a wad.
Re: Do as I say, Not as I do
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Originally Posted by
olevetonahill
It must really hurt when he gets his panties in that big a wad.
Yup, I think you done gone and hurt his feelers or something? He sure is an angry little fella these days.
Re: Do as I say, Not as I do
Quote:
Originally Posted by
Curly Bill
Yup, I think you done gone and hurt his feelers or something? He sure is an angry little fella these days.
Heh, He says Im always taking jabs at HIM .
Hell for the most part I ignore his ramblings
Re: Do as I say, Not as I do
Quote:
Originally Posted by
olevetonahill
Heh, He says Im always taking jabs at HIM .
Hell for the most part I ignore his ramblings
As we all prolly should.
Re: Do as I say, Not as I do
Quote:
Originally Posted by
StoopTroup
Sounds like they could have gotten the same favor for free from H&R Block without bugging you?
My taxes are not quite so simple so I have a license to this year's iteration of turbo tax anyway. Free from H&R Block is similar to the free from me. I do believe you missed the more important point somehow.
Re: Do as I say, Not as I do
Quote:
Originally Posted by
KABOOKIE
Hey oblama, kindly shut your racist, business hating loser ***. I can't wait until the liberals get kicked the ****ed out of office.
you okay there, buddy?
Re: Do as I say, Not as I do
Quote:
Originally Posted by
sappstuf
I thought Obama didn't like "fat cats" who used loopholes to get away from paying their "fair share"...
You talking about GE and Jeffy Imelt?
Green" with envy, I am.
Re: Do as I say, Not as I do
I don't care that Obama is doing that and more families should be setting aside money for college expenses early-on. It's the thing that American families save their entire lives for, much like Indian families save to have a lavish wedding for their child, and Chinese families save to be able to have a dowry to marry off their son (girl shortage = pay tons to get son married to one of the few available brides).