Free state tax sanity

Dougbert66 · #1 11-30-2022, 4:59 AM

We got a small rebate check in the mail this week. Note that unlike CA, the rebate is proportional to tax burden. If you didn't pay taxes, no rebate for you.

https://marketrealist.com/taxes/why-...g-tax-rebates/

M76 · #2 11-30-2022, 5:48 AM

joe_sun · #3 11-30-2022, 8:26 AM

The first year after moving to Idaho I bought Turbotax and quickly realized I had just wasted 50.00 as even with property tax and interest from our house we didn't have enough in write offs to offset the standard deduction.

I'm a homeowner with 2 kids and I haven't filed longform since moving here.

Aldemar · #4 11-30-2022, 9:45 AM

Not so fast......shouldn't the rebate be based on how much your total tax liability is before subtracting what you paid in?

Seems that those who pay an educated estimate are penalized here. Or am I reading something incorrectly?

Dougbert66 · #5 11-30-2022, 11:34 AM

Quote:

Originally Posted by Aldemar

Not so fast......shouldn't the rebate be based on how much your total tax liability is before subtracting what you paid in?

Seems that those who pay an educated estimate are penalized here. Or am I reading something incorrectly?

No penalty. Yes, it's based on your final income taxes paid. If you paid no taxes you get no rebate. If you owed and failed to file by the deadline mentioned in the article, no rebate.

Aldemar · #6 11-30-2022, 11:55 AM

Quote:

Originally Posted by Dougbert66

No penalty. Yes, it's based on your final income taxes paid. If you paid no taxes you get no rebate. If you owed and failed to file by the deadline mentioned in the article, no rebate.

Thanks for the clarification. Fortunately, no state income taxes here

Dougbert66 · #7 11-30-2022, 12:36 PM

Quote:

Originally Posted by Aldemar

Thanks for the clarification. Fortunately, no state income taxes here

Even better. But I imagine I'd get nailed harder in TX for 19 acres and a nice house. Either one is better than CA by far. Now I'm off to assemble my first AR, evil features and all.

rsrocket1 · #8 12-13-2022, 7:44 AM

Quote:

Originally Posted by Dougbert66

Even better. But I imagine I'd get nailed harder in TX for 19 acres and a nice house. Either one is better than CA by far. Now I'm off to assemble my first AR, evil features and all.

Congratulations. I’ve built 3 this year. A 20”, a 16” and a 16” 300 AAC, all with “standard features”. Building AR’s is like eating peanuts, once you start, it’s tough to stop. The nice thing is that the cost of those 3 guns is less than what I would have paid with 1 month’s worth of CA income tax.

smoothy8500 · #9 12-13-2022, 8:21 AM

Spent my $600 on cigarettes and beer...

covingtonhouse · #10 12-13-2022, 12:02 PM

Quote:

Originally Posted by smoothy8500

Spent my $600 on cigarettes and beer...

With inflation, $600 won't even come close to touching hookers and blow. At least there are still alternatives!

Dougbert66 · #11 12-13-2022, 6:07 PM

Quote:

Originally Posted by rsrocket1

Congratulations. I’ve built 3 this year. A 20”, a 16” and a 16” 300 AAC, all with “standard features”. Building AR’s is like eating peanuts, once you start, it’s tough to stop. The nice thing is that the cost of those 3 guns is less than what I would have paid with 1 month’s worth of CA income tax.

Nice. We'll see about more. Mine's a 20" A2 (detachable handle, not true A2 upper). Haven't gotten out to shoot it yet. I enjoyed the local gun show (town of 25k) where I picked up a couple of very used milsurp aluminum 30 rounders. Hundreds of ARs and other goodies on display. Met a local milsurp collector who recently relocated from TX. Nice guy. He had a table with everything from a flintlock to several 1911s, Garands, and M1 carbines.