Tax return mistake / Incoming NGD

[mackerelmint]

What baffles me is that you guys get money back when you do your taxes.

I don't know if that's more due to the structure of American employment and taxes or what, but I can assure you, as a fellow Canadian, the CRA has never sent me any money come tax time.

I've seen many "tax return guitars" posted throughout the years and have been similarly perplexed.

Basically, you choose one of several levels of taxes that are withheld from your pay, and then you have to do paperwork and file it telling them exactly how much you actually owe for the year, and either pay the difference or get paid. People like to get that check, but it's also an effective interest free loan to the government, which is bullshit.

Of course now that Trump's got a crony installed as head of the IRS, the compliance department is being cut to the quick, so if there was ever a time to cheat on your taxes, this is it!

[mackerelmint]

The really weird thing is that at least 80% of my taxable income last year was study financing that the state already gave to me, so why I'd get a tax return at all is beyond me.

This year though I've been working a ton and paid tax accordingly, so next year's tax return guitar could potentially be something quite nice

We do pay a lot of taxes in the first place, though. And then get accountants that cost money but still coax a return out of the state. It's a strange system really.

Accountants? Really? Is there just so much bureaucracy around it that you would choose to have someone else do it?

I suspect that much like in the US, the more money you have tied up in things like a home and investments, the more complex it becomes. At a certain point you have to decide what your time and effort is worth, and paying someone who knows all the tricks and can use the rules to get more money back can easily pay for itself.

[StevenO]

What baffles me is that you guys get money back when you do your taxes.

I got money back!

[somanytoys]

I got money back because of the way I set up my withholding and certain deductions.

But it was half as much as it was last year, for the same everything, thanks to Trump’s huge tax cut. Funny how something with a name like that actually works.

[thenewromance]

The really weird thing is that at least 80% of my taxable income last year was study financing that the state already gave to me, so why I'd get a tax return at all is beyond me.

This year though I've been working a ton and paid tax accordingly, so next year's tax return guitar could potentially be something quite nice

We do pay a lot of taxes in the first place, though. And then get accountants that cost money but still coax a return out of the state. It's a strange system really.

Accountants? Really? Is there just so much bureaucracy around it that you would choose to have someone else do it?

I suspect that much like in the US, the more money you have tied up in things like a home and investments, the more complex it becomes. At a certain point you have to decide what your time and effort is worth, and paying someone who knows all the tricks and can use the rules to get more money back can easily pay for itself.

Yes, that's it. German taxes are so complicated that unless you either really know the rules and/or have zero uncommon things going on (which is rather rare, because nearly everything is an exception here) the "tax advisor" pays for him/herself.

[Larry Mal]

Taxation is theft.

Ha ha, just kidding, only an idiot would say that.

Great Telecaster, though! I was playing mine today and they are pretty much the best guitar.