Income Tax Return and Mustang Mods

[Venom351R]

Who's using some or all of their return for some mods for this year and what are you getting? Im getting back $2285 (Fed + State) so thats more then enough to cover what Im doing to the Cobra this spring which includes...

Team Z K member

Team Z A arms

Team Z coil over kit with Strange 10 way shocks/Struts.

Fox TB Set up w/ an Accufab 75MM TB

Anderson Ford Power Pipe

Sknnies on the front for the track + tires

And getting the 4.10's installed

Also plan on doing an Aluminum drive shaft and Corbeau CR1 seats but those are coming from out of pocket expense.

 

[94GTCoupe]

i would'nt consider this a mustang mod,but i'm looking to get out of the apt and into a house with a garage.

 

[88stang88]

Buying a Wheel and Tire Package from late model restoration and either a strim or a h/c/i kit

 

[inphiniti]

i would'nt consider this a mustang mod,but i'm looking to get out of the apt and into a house with a garage.

+1 im with u on this except i'll be paying off a loan and we'll see whats left after that

 

[Grn92LX]

I was thinking about swapping my intake manifold to an edelbrock victor 5.0 intake, 3" mid pipe and some autometer mechanical gauges to replace my elec gauges.

 

[Dan95-5.0]

I wish I could get that kind of money from my Tax Return. I'm probably going to pay them.

 

[Venom351R]

This is the most I have ever gotten back in a refund but then again last year was the most I ever made as well. Regardless with the refund I paid a total of $9,190 in tax's (fed + state). Technically I dont start to make any money until I hit $10,000 for the year.

 

[88stang88]

This is the most I have ever gotten back in a refund but then again last year was the most I ever made as well. Regardless with the refund I paid a total of $9,190 in tax's (fed + state). Technically I dont start to make any money until I hit $10,000 for the year.

What kind of job do you do to have to pay that much in taxes?

 

[SableSal]

I'm hoping to get money back too... We'll see.

 

[Venom351R]

What kind of job do you do to have to pay that much in taxes?

Its not b/c of my job its b/c I claim 0 all year. I could be at a different job and still make the same amount and have the same taken out for tax's but to answer your question Im a corrections officer. I paid a total of $8,010 in fed and $3,465 in state for tax's before the return. I have no deductions or dependents so they can take quite a bit.

 

[88stang88]

Guess that makes sense. I have 3 dependants and im in the military so they take VERY little and illinois state doesn't tax me at all. But all in all after doing my taxes im getting 8300 back.

 

[94gtfreak]

I'm hopin for some new springs and shocks for the rear and a full Team-Z front end kit. New fog lights (since my old one are toasted) and hid's for them and the headlights. I was hopin to start my 351W swap...but it's not lookin good

 

[ProKiller]

i'll just be glad to not have to pay in. past couple years i've gotten enough for a ham sandwich and a small bag of chips, no drink....

 

[88stang88]

My wife is driving me nuts with anticipation for our income taxes to be deposited.

 

[BlackVert]

what a sore subject for me this year ....

i have had $10,000 or more in emergency funds go out the door in the last 3 months.

the money knife hit a big artery this time. man, if i didn't have this fund (which is now pretty much empty) built up, i'd be dead right now.

wife's root canal: $3,300 (only $500 covered by ins)
wife's crown: $1,700 (none covered)
wife's car transmission: $3,000
windows: $1,600
basement sump pump: $3,500

then there is the non-emergency fund expense ... college for my son: $6,000

i know what i'll be doing with my tax return money (assuming i get some that is). i usually get about $2500 back or so

 

[BlackVert]

What kind of job do you do to have to pay that much in taxes?

geez, my taxes are around $15K fed and $7K state. the deduction for the mortgage interest lowers that some, but it still sucks.

and the dems are probably going to take more from me

i'm a software developer

 

[Black Stampede]

wife's root canal: $3,300 (only $500 covered by ins)
wife's crown: $1,700 (none covered)

Man that seems expensive. I just got hit with the same thing myself, but it was only 2K for the root canal and the crown. No insurance.

 

[BlackVert]

Man that seems expensive. I just got hit with the same thing myself, but it was only 2K for the root canal and the crown. No insurance.

the $3,300 included a crown.

the 2nd crown was just a crown on a different tooth.

In DC, everything is expensive.

 

[Black Stampede]

the $3,300 included a crown.

the 2nd crown was just a crown on a different tooth.

In DC, everything is expensive.

Wow that really does suck. Unexpected things can ruin funds very fast.

 

[88stang88]

Good thing is the tax deductions this year are thru the roof compared to previous years.