View Full Version : FREE MONEY!
L84THSKY
03-01-2006, 06:57 PM
It takes a woman to put some sense into a man. I was talking to my girlfriend about doing my taxes. She mentioned that she was getting a nice refund for her tuition expenses.
That's when I said,"What are you talking about"? Turns out, I was entitled to a huge tax credit each year I had been in night school. When I did the numbers, I figured out I was entitled to another $1900.00. That was just for the current year. Now multiply that by three for the three years previous that I plan to amend.
Now it appears I have about $7000.00 extra money coming back I knew nothing about.:biggrin:
Oh joy, what will I do with the money........
al95ti
03-01-2006, 06:58 PM
DASC...... :biggrin:
andyman7931
03-01-2006, 07:03 PM
there's all sorts of tax incentive ways to make money. Read this article and see what the power company I am a customer of does to make $
http://www.time.com/time/magazine/article/0,9171,1167738,00.html
L84THSKY
03-01-2006, 07:04 PM
Actually, I'm interested in seeing how this new twin screw systems comes along. I would gladly be the first to buy, when it's ready.
DASC...... :biggrin:
bmwracerchick
03-01-2006, 07:07 PM
hmm...time to look into that myself
Tyler
03-01-2006, 07:23 PM
Not bad L8..
Mendi3
03-01-2006, 07:33 PM
DASC...... :biggrin:
Perfect choice. DASC for sure, you will not regret it.
DustenT
03-01-2006, 08:13 PM
Perfect choice. DASC for sure, you will not regret it.
+2, perfect for instant gratification.
cali-ti
03-01-2006, 09:15 PM
i'm assuming your employer was not paying for any of it, right? two of my employers essentially paid for my remaining years on my BS degree, so i couldn't claim it on taxes. either way, a pretty decent deal :)
DustenT
03-01-2006, 09:59 PM
i'm assuming your employer was not paying for any of it, right? two of my employers essentially paid for my remaining years on my BS degree, so i couldn't claim it on taxes. either way, a pretty decent deal :)
Good point. I have the same situation here.
CaliDohBoy
03-01-2006, 10:05 PM
Depends on how much they covered... if your total out to school was more than you received in from reimbursements, grants, etc. Then you get a refund for that money spent.
I'm a veteran pickin up a nice check each month for school so I get nothing (OUT=~$800/yr in tuition / IN=~$2000/mo in GI Bill). The wife gets money back though. SWEET!
L84THSKY
03-01-2006, 10:57 PM
I'm a veteran too, but even the GI Bill is a drop in the bucket compared to what my school cost.
http://iris.nyit.edu/~egrodsky/military/AirForceMain.html
Depends on how much they covered... if your total out to school was more than you received in from reimbursements, grants, etc. Then you get a refund for that money spent.
I'm a veteran pickin up a nice check each month for school so I get nothing (OUT=~$800/yr in tuition / IN=~$2000/mo in GI Bill). The wife gets money back though. SWEET!
L84THSKY
03-01-2006, 11:03 PM
I wonder if the IRS knows about employer tuition reimbursement. My old company paid next to nothing. My new company pays 100% for an "A", 90% "B" and "75% for "C".
So for the years I am getting amended, I paid out of pocket over $30,000.
http://www.geocities.com/l84thsky/Diploma1.jpg
i'm assuming your employer was not paying for any of it, right? two of my employers essentially paid for my remaining years on my BS degree, so i couldn't claim it on taxes. either way, a pretty decent deal :)
96 3 1 8 ti
03-01-2006, 11:11 PM
do this http://bimmerforums.com/forum/showthread.php?t=433471&highlight=S42 and then slap on a DASC
cali-ti
03-01-2006, 11:43 PM
if he does that, what's he going to run for fuel? certainly won't be from any pump! that engine's already at 11.5:1 compression ;)
cali-ti
03-01-2006, 11:45 PM
I wonder if the IRS knows about employer tuition reimbursement. My old company paid next to nothing. My new company pays 100% for an "A", 90% "B" and "75% for "C".
with that much out-of-pocket, it's not worth risking putting in for more that you paid out yourself. besides, they know now anyway ;)
stormos
03-02-2006, 12:47 AM
most popular name on this forum seems to be eric!!
L84THSKY
03-02-2006, 01:19 AM
Is it the most common, popular or both?:icon_poke
If anyone is interested in how to claim the credit:
Using a 1040A:
Line item # 18 is for Student loan interest deduction
Line item # 19 is for Tuition and fees deduction
You must fill out an 8863 for the tuition credit.
most popular name on this forum seems to be eric!!
PettitWC
03-02-2006, 03:08 AM
awesome...that's like when i finally got my montgomery GI bill check with all the retro active benefits last year...SWEET!!!!
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