Tax prep woes ...

[Hermann]

Multiple K1s and section 179s and 8606s...too much for me.

Oh God how I remember the period with K-1's from my late Mom's Trust.
My condolences.

 

[Dave Sherman]

Filed mine a few weeks ago. Happily found out that since stepson is going to college, his tuition is deductible since he's our dependent. Only thing that stinks about our taxes overall is I work in a township where there's no local tax. Hate my quarterly estimated tax payments, but I guess it's better than coughing all of it up at once.

 

[PWMDMD]

Filed mine a few weeks ago. Happily found out that since stepson is going to college, his tuition is deductible since he's our dependent. Only thing that stinks about our taxes overall is I work in a township where there's no local tax. Hate my quarterly estimated tax payments, but I guess it's better than coughing all of it up at once.

Good problem to have I guess but none of the $55K I paid for college this year was deductable.

 

[ripcord]

Paying taxes never bothered me a bit.

I live in great area , don’t worry about crime, kids and school is decent.

Visited many other states and countries and gladly pay the little bit of state and lot of federal to wake up where I do.

It's not the paying that bothers me so much as the parts where you need to...

Add line C to line A if amortizing the deduction of a qualified expense (see publication 1099-HEARTATTACK to determine if your deduction is qualified under the Slap Yo Mamma Act of 2002) being sure to skip leap year deductions on odd years beginning with the number 2.

 

[SC Maintenance]

Good problem to have I guess but none of the $55K I paid for college this year was deductable.

Me either. I put 2 through college - all after tax dollars.

 

[ripcord]

Had to file my dead sister in law’s taxes. I need a death certificate from Colorado for her state taxes, but I found they contract that request to an outside service. That service is 30 days behind processing requests, and when the request does get to Colorado Vital Records…they themselves are 30-60 days behind.

Even more aggravating, Pitkin county is holding her estate’s $38,000 of cash found in her rented room also needing a death certificate. Their county coroner identified her and declared her dead! There is as much red tape in death as life. Maybe more!

I take back all my complaints. You've got the hardest one to deal with. Condolences.

 

[PWMDMD]

It's not the paying that bothers me so much as the parts where you need to...

Add line C to line A if amortizing the deduction of a qualified expense (see publication 1099-HEARTATTACK to determine if your deduction is qualified under the Slap Yo Mamma Act of 2002) being sure to skip leap year deductions on odd years beginning with the number 2.

It does seem unnecessarily complicated...

 

[Pew]

And I thought I was late doing mine in February!

 

[Zee09]

1 800 GOT BUXX

Thank you Pabigale for letting me stay at your Ocala Fl. mini retreat.

I found it rather quaint but satisfactory indeed.

 

[SammyChevelleTypeS3]

Been doing ours pain free the past 8-9 years using TaxAct. Even with e-file and selecting the deluxe Audit/Protection plan it is still cheaper than going to H&R Block or some of those type places.

 

[dishdude]

Paying taxes never bothered me a bit.

It's certainly a good problem to have.

 

[awguy]

One way to do your own taxes is to let a tax preparer do it for you and then in subsequent years just use the prepared return as a template. Keep doing this each year unless your tax situation changes and then do this again.

You supply the tax guy with all your papers, you might as well do yourself the following years.

 

[redhat]

Good luck! Hope you get a killer offer.

Thank you!

 

[Donald]

If you don't owe taxes you can file a six month extension.

You can file the extension regardless of owing or not. But you need to estimate and pay by April 15 what you think you will owe.

 

[Donald]

I used H&R block on my laptop. One thing that saved a lot of time and aggravation was being able to import my brokerage account 1099 directly.

But there are always a few quirks. This year it asked about RMD from 401K and both wife and I are not 73 years old yet. So why is it asking?

 

[JeffKeryk]

Every year I do mine with H&R blocks tax software. Every year the government sends me a notice I did it wrong. Some years they pay me, some years I pay them. I really think they should just do it for me and let me know. Seriously.

A couple years ago they disallowed something or other? I reached out to H&R block's Audit help. It wasn't really an audit, but they looked at it, said they had no idea, and I should contest it.

It worked out to $200. I decided to just pay. No need to be on anyone's list.

I took over my parent's portfolio and tax prep years ago. One year the IRS claimed they owed something like $1500 more plus penalties. My Dad got scared and just wanted to pay. I reviewed my work and was confident it was correct. This went back and forth for months. We were ordered to appear in Federal Tax Court in Sacramento; what a hassle for an older person and myself! Finally, a couple weeks before our 1st court date, they sent a final letter stating my numbers were correct and the matter was closed. Whew!

 

[zzyzzx]

I use TurboTax and use the import feature. It makes it really easy.

 

[Astro14]

Paying taxes never bothered me a bit.

I live in great area , don’t worry about crime, kids and school is decent.

Visited many other states and countries and gladly pay the little bit of state and lot of federal to wake up where I do.

Then, perhaps you and I define “the little bit” quite differently.

I prepare my own taxes, as I have every year that I’ve ever filed. So, I am intimately familiar with the dollar amount I pay, in total. That’s radically different than the perception most people have - “I got a refund” or “I had to pay” are meaningless.

The critical value is the line that says, “total tax’. Most folks are blissfully ignorant of that number, because they’re focused on “refund” or “had to pay”.

I assure you, that number is not now, nor has it ever been, a “little bit”.

 

[Allaneddie]

Personal thoughts on the income tax.

Most individual income for the majority of Americans is produced through labor. Labor has value and a wage is given in exchange for it. In the Antebellum south, slaves worked for their employers (slave owners). The slaves' labor had great value but they, with rare exception, were paid nothing for it. The value of their labor was siphoned off at a 100% tax rate.

Since the 16th amendment passed in 1913 each American had an income tax burden of at least 1%, primarily on the wealthy. Today most Americans with an average income are in a 10-15% bracket. Some much higher and it creeps upward.

Comparing the slaves' (labor) tax rate to ours today, how can it be said that we aren't all just slaves, albeit somewhat less (10-15%).

I prefer to consider myself a "citizen" rather than a slave and therefore am part of a big club, called the USA.

 

[Pablo]

Then, perhaps you and I define “the little bit” quite differently.

I prepare my own taxes, as I have every year that I’ve ever filed. So, I am intimately familiar with the dollar amount I pay, in total. That’s radically different than the perception most people have - “I got a refund” or “I had to pay” are meaningless.

The critical value is the line that says, “total tax’. Most folks are blissfully ignorant of that number, because they’re focused on “refund” or “had to pay”.

I assure you, that number is not now, nor has it ever been, a “little bit”.

Well stated. I am guilty of using the terms above. I use them a bit loosely truly in the sense of how good my TOTAL TAX estimate was, since I have zero $ withheld from income sources. I mean before the whole premium pay back thing kicked me in the teef - I was within $50!!!! So to "pay" another (WELL not really another) $3500? Poopoo.