I hate the fact that scholarships are considered taxable income.
Srsly, for reals, and all that.
See, I got about 7300 in scholarship credit according to my form. The expense calculated was about 7990.
I originally, with my money made from work, got $100 in credit. But because I have to claim my scholarships as income, which they wanted 350 for taxes on, I owe the government 250.
If Mom doesn't claim me as a dependant and I claim myself, then I don't have to pay the scholarship taxes and I get to keep my refund.
If Mom does claim me as a dependant and doesn't claim the expenses, then she doens't get any money, and I have to pay.
If Mom does claim me as a dependant and claims the expenses, I have to pay stilll, but shes looking to get over 1000 back.
Despite the fact that I paid for school,not her, she gets the refund and I get to pay the taxes.
Now, because I have to pay, basically, I shouldn't be remaining exempt for 2008, because I do have some tax liability, but you know what, screw it, they let me put in for it and I had to put the form in before I even knew if I was liable or not.
I'm hoping she does that and reimburses me at least the 350, if not go halvsies with me so I don't have to live paycheck to paycheck over the summer to pay off the loan for my car/summer courses. $300+/month? On a bagger's salary, making maybe $100/week working weekends....
I need at least two weeks off in May and one in July, so that only leaves me, if there's 4 weeks per month, 9 weeks to work. $900 in 3 months, after using up all my savings. I'll have to pick up shifts at work somehow after school, and get Dad to loan me money for gas to go to school.
It'll be hard, and I'm going to hate it, but its something I need to do.
On a related note, GOD DAMN GOVERNMENT TAKING THE MONEY THEY GIVE ME.
I SWEAR, is that not the definition of extortion? Giving someone money then demanding money back from them on it?
The scholarships ARE my income. They aren't supposed to be a loan, but because they're 'income', I have to pay taxes on them. Give them money back for the privledge of using their money.
So essentially they wanted me to give them their money back for the privledge of using the money they gave me in the first place. But because I kinda spent it to pay them, the state, they want MORE.
Loan sharking much?
So now I have to find a way to get more money to pay them AGAIN for the money they gave me in the first place.
And my mother gets a nice check for me paying for my own schooling.
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You and me both. I've gotten $10,000 a semester, so... $20,000 on my income.
Its going to hurt, considering I have no job or real income.
I'm surprised it wasn't taxed when they gave it to us under some perverse "income tax". I'd rather them take a chunk when they give it to me so I dont have to worry about it later.
Speaking of which, remember the phrase "Give unto Caesar that which is Caesar's?". Uncle Sam sticks it to us. Gotta pay taxes when you earn money, gotta pay taxes when you use it. Mmm-mmm! Cant do shit with money (not even move it hardly) without it costing you something.
*hugs* You'll make it, I know you. You're damn determined.
>_>"
*sucker punches Uncle Sam, rummages his wallet and steals his money back*
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