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General Discussion => Essentially Flyertalk => Topic started by: ShellShock on March 11, 2014, 12:58:54 AM
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So I just rounded up all of my tax documents and it took me like an hour to efile all of them. I feel accomplished, but a little cheated at the same time. I hear grumblings from tons of people about how terrible taxes are and blah blah blah. It was literally the easiest, most guided process i've ever encountered with the government.
I'm going to ask some very leading questions to my coworker tomorrow that claims she spent 5 hours trying to work her way through it and gave up and hired a CPA to do it. In my opinion: If you can't figure out the online system, then you probably don't deserve the refund...
Just my :th_twocents:
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ShellShock - Standard deduction
Post in this thread and steve dave will tell you if you itemize or not.
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Hi
Gonna win 'em all!
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Hi
Gonna win 'em all!
itemize
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You're good!
Gonna win 'em all!
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what kind of wizardry is this
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hey steve dave
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My taxes were filed in February.
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My taxes were filed in February.
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I received my refund a month ago. :Woot:
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My taxes were filed in February.
I really don't understand people that wait and are up against the April 15th deadline every year. It just seems bizarre to me. Why wouldn't you just get them done immediately after you get your information, even if you have somebody do them for you. Mine are pretty simply so I've always done them myself.
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My taxes were filed in February.
I really don't understand people that wait and are up against the April 15th deadline every year. It just seems bizarre to me. Why wouldn't you just get them done immediately after you get your information, even if you have somebody do them for you. Mine are pretty simply so I've always done them myself.
I just assume the people who wait until April owe money.
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i received my money and blew it before the first week of february was over :billdance:
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i was all jazzed up to knock it out, but we were missing an important document so i had to wait and then by the time we got it, i was addicted to the waiting
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what kind of wizardry is this
itemize
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hey steve dave
standard deduction
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My taxes were filed in February.
standard deduction
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My taxes were filed in February.
standard deduction
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I received my refund a month ago. :Woot:
standard deduction
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My taxes were filed in February.
I really don't understand people that wait and are up against the April 15th deadline every year. It just seems bizarre to me. Why wouldn't you just get them done immediately after you get your information, even if you have somebody do them for you. Mine are pretty simply so I've always done them myself.
I just assume the people who wait until April owe money.
standard deduction
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i was all jazzed up to knock it out, but we were missing an important document so i had to wait and then by the time we got it, i was addicted to the waiting
standard deduction
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I owed like $1,500 this year
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I owed like $1,500 this year
itemize
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what kind of wizardry is this
itemize
:Wha: :Woohoo:
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I owed like $1,500 this year
itemize
:lol:
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I got mine last Thursday, but I feel like i'm getting too much back... free loan to the IRS and all, plus I don't like getting money back from the state because that's just one more form to track next year. Should I add another deduction to my W-4s?
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i did not pay taxes from september-dec and i am still getting a refund. guess i should start not paying in aug this year
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We used to always get a lot back; so I changed my elections on the W-4 so we are pretty close to even now...so I'm in no hurry to get them done. I downloaded the software this weekend and gathered up the documents we have received; so I feel like I made progress.
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I owed like $1,500 this year
I owed Kansas some money too. It is the goddam supreme court legislating again, is what it is.
Also, my rental property makes too much money. How can I stop this without actually taking money out of my 6 girl's mouths?
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I owed like $1,500 this year
I owed Kansas some money too. It is the goddam supreme court legislating again, is what it is.
Also, my rental property makes too much money. How can I stop this without actually taking money out of my 6 girl's mouths?
You're probably boned because you ever declared rental income, but its probably one of, if not the easiest source of income to simply conceal from the IRS. You could also just raise rent so that 70% of the increase covers your existing taxes.
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hey steve dave
standard deduction
False.
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I owed like $1,500 this year
I owed Kansas some money too. It is the goddam supreme court legislating again, is what it is.
Also, my rental property makes too much money. How can I stop this without actually taking money out of my 6 girl's mouths?
You're probably boned because you ever declared rental income, but its probably one of, if not the easiest source of income to simply conceal from the IRS. You could also just raise rent so that 70% of the increase covers your existing taxes.
look bro, I am pretty ethical and don't believe in tax fraud. Thanks for the huge deficit you are leaving our kid's kids, jerkwad
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ShellShock - Standard deduction
Post in this thread and steve dave will tell you if you itemize or not.
Wrong. Itemized deduction due to investments, farm items, house.
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i have meant to get my taxes done every day for the last 45 days, and keep putting it off to the next day. it's horrible. last year i went right up to the deadline.
i am going to get them done today, however.
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wrote off one of my farms as a gambling loss this year
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wrote off one of my farms as a gambling loss this year
If you have any type of farm and aren't written off as a loss every single year, you're doing something wrong.
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wrote off one of my farms as a gambling loss this year
If you have any type of farm and aren't written off as a loss every single year, you're doing something wrong.
Look, another farmer taking Gov welfare.
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(https://goemaw.com/forum/proxy.php?request=http%3A%2F%2Fb.vimeocdn.com%2Fts%2F107%2F572%2F107572562_640.jpg&hash=abce8d93c24acd23242ab9afe039eaf675b2ea5a)
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home office deductions. automatic audit? discuss.
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home office deductions. automatic audit? discuss.
For what you do I would think so.
I dont' try to get away with them (yet)
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home office deductions. automatic audit? discuss.
did it for several years, never audited. always claimed very little tho as far as that was concerned
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I owe ~ $800 this year. Better than last year!
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I got mine last Thursday, but I feel like i'm getting too much back... free loan to the IRS and all, plus I don't like getting money back from the state because that's just one more form to track next year. Should I add another deduction to my W-4s?
standard deduction
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wrote off one of my farms as a gambling loss this year
If you have any type of farm and aren't written off as a loss every single year, you're doing something wrong.
Look, another farmer taking Gov welfare.
Limestone = typical city folk that obviously knows nothing about farming
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We used to always get a lot back; so I changed my elections on the W-4 so we are pretty close to even now...so I'm in no hurry to get them done. I downloaded the software this weekend and gathered up the documents we have received; so I feel like I made progress.
standard deduction (this one is a tough call but I'm very good so I maybe still nailed it)
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home office deductions. automatic audit? discuss.
For what you do I would think so.
I dont' try to get away with them (yet)
for the wife. real estate agent. has a brick and mortar corporate office, but only goes there to scan closing docs. 99.9% of work is done at home.
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I owed like $1,500 this year
I owed Kansas some money too. It is the goddam supreme court legislating again, is what it is.
Also, my rental property makes too much money. How can I stop this without actually taking money out of my 6 girl's mouths?
def. itemizer here
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home office deductions. automatic audit? discuss.
For what you do I would think so.
I dont' try to get away with them (yet)
for the wife. real estate agent. has a brick and mortar corporate office, but only goes there to scan closing docs. 99.9% of work is done at home.
gonna punt this one to sd. She should just ask her co-workers. I am sure there are cagey old gals who have been deducting everything from their yellow blazers to their cadillacs for decades.
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(https://goemaw.com/forum/proxy.php?request=http%3A%2F%2Fb.vimeocdn.com%2Fts%2F107%2F572%2F107572562_640.jpg&hash=abce8d93c24acd23242ab9afe039eaf675b2ea5a)
standard deduction
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home office deductions. automatic audit? discuss.
itemize
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i have meant to get my taxes done every day for the last 45 days, and keep putting it off to the next day. it's horrible. last year i went right up to the deadline.
i am going to get them done today, however.
standard deduction
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Usually we are on top of this stuff. Not this year. Meh, I'm in no hurry.
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Usually we are on top of this stuff. Not this year. Meh, I'm in no hurry.
standard deduction
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Usually we are on top of this stuff. Not this year. Meh, I'm in no hurry.
standard deduction
Haha, no.
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We used to always get a lot back; so I changed my elections on the W-4 so we are pretty close to even now...so I'm in no hurry to get them done. I downloaded the software this weekend and gathered up the documents we have received; so I feel like I made progress.
standard deduction (this one is a tough call but I'm very good so I maybe still nailed it)
You are wrong, but good job on the tough call...we are getting close as the amount of interest on the mortgage goes down. We'll probably take the standard deduction in a couple of years.
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standard deduction
sorry, sd. i used to though!
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home office deductions. automatic audit? discuss.
Claim it every year. Never audited. But I also never get a refund.
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I'd assume it's pretty normal that if you're paying a mortgage to itemize. I'd guess greater than 50%. But I've never seen any numbers.
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Had a baby last year. Looking forward to not owing money for once.
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I owed $1200 to the feds (thanks Obama!)
I got a refund of $700 ish from the state (thanks Brownback!)
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State taxes, lol.
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State taxes, lol.
:cheers:
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A little known or talked about tax fact is the April 15th deadline is really just a deadline to pay. If you don't owe any additional taxes it's pretty much meaningless to you and you can file after it with no penalty. You have to up three year's to claim your refund though I'm not sure why anyone would wait that long.
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A little known or talked about tax fact is the April 15th deadline is really just a deadline to pay. If you don't owe any additional taxes it's pretty much meaningless to you and you can file after it with no penalty. You have to up three year's to claim your refund though I'm not sure why anyone would wait that long.
You are a stud boss who doesn't count on the gov to force you to save $$?
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OK, SD - I'll bite and give you a tricky one.
Here in Vegas, many sportsbooks have mobile betting apps. You bet through an individual account, and books are able to report your win/loss statements to the IRS, etc, upon request. As a result, accurate record keeping is a must.
Well, in some cases, you might bet with someone on your account ("I go half, you go half?"); or even for someone else entirely on your account ("Oh, sure, I can bet that for you!"). Let's assume by the end of the year, you won 10k at a particular sportsbook, with 7k belonging to you, and 3k belonging to another person.
Should you report the entire 10k and pay taxes on it? Or should you only claim your personal share? Remember, the sportsbook has your account info and shows that you won 10k, and that is what is reported to the IRS.
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I'd assume it's pretty normal that if you're paying a mortgage to itemize. I'd guess greater than 50%. But I've never seen any numbers.
according to this, 25% of households itemize (and the home ownership rate is 67%): http://www.sfgate.com/business/networth/article/Mortgage-interest-deduction-claims-facts-4129555.php
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OK, SD - I'll bite and give you a tricky one.
Here in Vegas, many sportsbooks have mobile betting apps. You bet through an individual account, and books are able to report your win/loss statements to the IRS, etc, upon request. As a result, accurate record keeping is a must.
Well, in some cases, you might bet with someone on your account ("I go half, you go half?"); or even for someone else entirely on your account ("Oh, sure, I can bet that for you!"). Let's assume by the end of the year, you won 10k at a particular sportsbook, with 7k belonging to you, and 3k belonging to another person.
Should you report the entire 10k and pay taxes on it? Or should you only claim your personal share? Remember, the sportsbook has your account info and shows that you won 10k, and that is what is reported to the IRS.
get friends who suck ass at sports betting but are good at paying you back money they owe you.
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This was a serious inquiry. :frown:
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This was a serious inquiry. :frown:
If you are not going to claim your friend's winnings then you probably need to provide him some sort of form showing how much he won so he can claim it.
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This was a serious inquiry. :frown:
you have to pay it, unless they are going to and will provide documentation. serious answer.
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This was a serious inquiry. :frown:
you have to pay it, unless they are going to and will provide documentation. serious answer.
great reply. thanks. :thumbs:
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I'd assume it's pretty normal that if you're paying a mortgage to itemize. I'd guess greater than 50%. But I've never seen any numbers.
according to this, 25% of households itemize (and the home ownership rate is 67%): http://www.sfgate.com/business/networth/article/Mortgage-interest-deduction-claims-facts-4129555.php
:thumbup:
Sent from my SPH-L710 using Tapatalk
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I got my refund back today.
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Largest refund you ever received (federal only)?
$6,000 ish. What a stupid tax year. Involved a move and a large raise and bonus when I wasn't making much base at the beginning of the year, so I hadn't made any corrections in withholdings.
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Mrs. 3g is graduating from Law School this year. Is there anything (such as a computer) that we should purchase and write off for next year's taxes? TIA, SD.
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Largest refund you ever received (federal only)?
$6,000 ish. What a stupid tax year. Involved a move and a large raise and bonus when I wasn't making much base at the beginning of the year, so I hadn't made any corrections in withholdings.
Yeah, I had a yr at $5,800 or $5900. iirc, there were some tax changes that added to that by means of dependents as well as moving and a big raise.
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This was a serious inquiry. :frown:
you have to pay it, unless they are going to and will provide documentation. serious answer.
great reply. thanks. :thumbs:
Techinally you should have had them fill out a w-9 out before you made this transaction and then provided them with a 1099 at year end for their portion of the winnings. That would shift the tax burdon from you to them. I'm guessing none of this happend so you probably just have to pay the tax.
One thing to be sure and remember is you can offset gambling winnings with gambling losses even losses that are unreported to the IRS. It would be good to have some type of proof of said losses.
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This was a serious inquiry. :frown:
you have to pay it, unless they are going to and will provide documentation. serious answer.
great reply. thanks. :thumbs:
Techinally you should have had them fill out a w-9 out before you made this transaction and then provided them with a 1099 at year end for their portion of the winnings. That would shift the tax burdon from you to them. I'm guessing none of this happend so you probably just have to pay the tax.
One thing to be sure and remember is you can offset gambling winnings with gambling losses even losses that are unreported to the IRS. It would be good to have some type of proof of said losses.
According to Stevesie this is no longer true in Kansas. :dunno: Maybe that isn't effective until 2014 tax year?
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Mrs. lopak is a CPA. Send me money and your W-2's and I'll have her do your taxes for you.
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Largest refund you ever received (federal only)?
$6,000 ish. What a stupid tax year. Involved a move and a large raise and bonus when I wasn't making much base at the beginning of the year, so I hadn't made any corrections in withholdings.
Yeah, I had a yr at $5,800 or $5900. iirc, there were some tax changes that added to that by means of dependents as well as moving and a big raise.
I have seen this a couple of times and wonder how this factors into getting a big return. Most times mo' money = mo' (tax) problems. and fewer deductions
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Largest refund you ever received (federal only)?
$6,000 ish. What a stupid tax year. Involved a move and a large raise and bonus when I wasn't making much base at the beginning of the year, so I hadn't made any corrections in withholdings.
Yeah, I had a yr at $5,800 or $5900. iirc, there were some tax changes that added to that by means of dependents as well as moving and a big raise.
I have seen this a couple of times and wonder how this factors into getting a big return. Most times mo' money = mo' (tax) problems. and fewer deductions
I think it's because your new salary is often withheld at a higher bracket than you will actually have to pay. It also depends on how your employer calculates your withholding on your bonuses.
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Largest refund you ever received (federal only)?
$6,000 ish. What a stupid tax year. Involved a move and a large raise and bonus when I wasn't making much base at the beginning of the year, so I hadn't made any corrections in withholdings.
Yeah, I had a yr at $5,800 or $5900. iirc, there were some tax changes that added to that by means of dependents as well as moving and a big raise.
I have seen this a couple of times and wonder how this factors into getting a big return. Most times mo' money = mo' (tax) problems. and fewer deductions
I think it's because your new salary is often withheld at a higher bracket than you will actually have to pay. It also depends on how your employer calculates your withholding on your bonuses.
Bonuses are taxed like you are going to earn that amount for the rest of the year. The big raise comes into play for increasing your return when you were already withholding to high of a percentage. On a smaller base, the refund is not that large, but on a larger base, the over withholding adds up.
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I got mine last Thursday, but I feel like i'm getting too much back... free loan to the IRS and all, plus I don't like getting money back from the state because that's just one more form to track next year. Should I add another deduction to my W-4s?
standard deduction
Wrong, this home-owning katsfan itemizes those season tickets every year
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Largest refund you ever received (federal only)?
$6,000 ish. What a stupid tax year. Involved a move and a large raise and bonus when I wasn't making much base at the beginning of the year, so I hadn't made any corrections in withholdings.
Yeah, I had a yr at $5,800 or $5900. iirc, there were some tax changes that added to that by means of dependents as well as moving and a big raise.
I have seen this a couple of times and wonder how this factors into getting a big return. Most times mo' money = mo' (tax) problems. and fewer deductions
I think it's because your new salary is often withheld at a higher bracket than you will actually have to pay. It also depends on how your employer calculates your withholding on your bonuses.
Bonuses are taxed like you are going to earn that amount for the rest of the year.
Yes, but how withholding is calculated varies from employer to employer. It's common for employers to over-withhold bonuses.
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where in the hell did i put my w-2s? :Wha:
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This was a serious inquiry. :frown:
you have to pay it, unless they are going to and will provide documentation. serious answer.
great reply. thanks. :thumbs:
Techinally you should have had them fill out a w-9 out before you made this transaction and then provided them with a 1099 at year end for their portion of the winnings. That would shift the tax burdon from you to them. I'm guessing none of this happend so you probably just have to pay the tax.
One thing to be sure and remember is you can offset gambling winnings with gambling losses even losses that are unreported to the IRS. It would be good to have some type of proof of said losses.
According to Stevesie this is no longer true in Kansas. :dunno: Maybe that isn't effective until 2014 tax year?
Yes I believe the law will take effect in tax year 2014 unless it gets changed. It's a very unfair tax IMO to tax winnings but not allow people to offset them with losses. The people it will hurt are the problem gamblers who hit a couple of big slot wins a year but still lose more than they win.
Losses will still be deductable on federal returns though which is where most of your tax dollars go. States just need to keep it simple and stick to the same deductions as Federal. Brownback is doing/causing a lot of screwy things to happen to KS state taxes.
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My wife and I had a nasty surprise a few years back when we way under withheld. We thought claiming "married" and zero deductions would be sufficient. Wasn't even close. Evidently, the typical withholding formula doesn't work so well for relatively high earning dual income couples. So now we withhold extra in addition to no exemptions, and we get a lot back. I know it's stupid to not use a CPA to better ascertain how much to withhold, but it is nice getting a big chunk of change in the spring you're not counting on.
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I use the standard deduction steve dave.
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My wife and I had a nasty surprise a few years back when we way under withheld. We thought claiming "married" and zero deductions would be sufficient. Wasn't even close. Evidently, the typical withholding formula doesn't work so well for relatively high earning dual income couples. So now we withhold extra in addition to no exemptions, and we get a lot back. I know it's stupid to not use a CPA to better ascertain how much to withhold, but it is nice getting a big chunk of change in the spring you're not counting on.
I would think a big chunk of change in the spring would be no big deal to a high earning couple like you and the Mrs K-S-U.
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:Rusty:
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My wife and I had a nasty surprise a few years back when we way under withheld. We thought claiming "married" and zero deductions would be sufficient. Wasn't even close. Evidently, the typical withholding formula doesn't work so well for relatively high earning dual income couples. So now we withhold extra in addition to no exemptions, and we get a lot back. I know it's stupid to not use a CPA to better ascertain how much to withhold, but it is nice getting a big chunk of change in the spring you're not counting on.
I would think a big chunk of change in the spring would be no big deal to a high earning couple like you and the Mrs K-S-U.
Our kids, mortgage, the crap ton of taxes we pay, and the student loans we took out to earn those salaries would disagree. We're HENRYs - right in the prime fleecing zone when it comes to taxes. Paid an effective federal rate of 15% and another 5% to the state. Add in FICA, real and personal property taxes, and I'm up to 32%. And that doesn't include sales tax.
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My wife and I had a nasty surprise a few years back when we way under withheld. We thought claiming "married" and zero deductions would be sufficient. Wasn't even close. Evidently, the typical withholding formula doesn't work so well for relatively high earning dual income couples. So now we withhold extra in addition to no exemptions, and we get a lot back. I know it's stupid to not use a CPA to better ascertain how much to withhold, but it is nice getting a big chunk of change in the spring you're not counting on.
Standard deduction
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I like the part where he cited three tax breaks as the reasons his large tax bill was a surprise.
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My wife and I had a nasty surprise a few years back when we way under withheld. We thought claiming "married" and zero deductions would be sufficient. Wasn't even close. Evidently, the typical withholding formula doesn't work so well for relatively high earning dual income couples. So now we withhold extra in addition to no exemptions, and we get a lot back. I know it's stupid to not use a CPA to better ascertain how much to withhold, but it is nice getting a big chunk of change in the spring you're not counting on.
I would think a big chunk of change in the spring would be no big deal to a high earning couple like you and the Mrs K-S-U.
Our kids, mortgage, the crap ton of taxes we pay, and the student loans we took out to earn those salaries would disagree. We're HENRYs - right in the prime fleecing zone when it comes to taxes. Paid an effective federal rate of 15% and another 5% to the state. Add in FICA, real and personal property taxes, and I'm up to 32%. And that doesn't include sales tax.
Why are you giving the government what is rightfully KSU's?
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I pay a CPA to to me how much to pay Kansas and Federal. I do my taxes in August. I pay in excess of 40% of my gross to various Sheriff's of Nottingham. I think that's too much. :(
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I like the part where he cited three tax breaks as the reasons his large tax bill was a surprise.
Interest free loans to the gov are a pleasantly surprising way to help you save!
:cheers:
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I like the part where he cited three tax breaks as the reasons his large tax bill was a surprise.
Yeah... I didn't say anything of the sort.
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H&R Block will give you a loan against that fat return.
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ksu how come you aren't reducing your taxable income with deductions more?
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I like the part where he cited three tax breaks as the reasons his large tax bill was a surprise.
Yeah... I didn't say anything of the sort.
Yeah, I guess property taxes could have been counted as a fourth deduction. I'll leave that up to your discretion, though.
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I always get a refund and I feel stupid but my income varies pretty significantly year-to-year (literally dependent on the weather) so it's hard for me to say how much I'll make and/or how much I should pay in taxes and ugh math is hard
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I like the part where he cited three tax breaks as the reasons his large tax bill was a surprise.
Yeah... I didn't say anything of the sort.
Yeah, I guess property taxes could have been counted as a fourth deduction. I'll leave that up to your discretion, though.
Student loan interest isn't a deduction for a lot of people. Neither is childcare expenses.
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I like the part where he cited three tax breaks as the reasons his large tax bill was a surprise.
Yeah... I didn't say anything of the sort.
Yeah, I guess property taxes could have been counted as a fourth deduction. I'll leave that up to your discretion, though.
Student loan interest isn't a deduction (credit) for a lot of people. Neither is childcare expenses.
me when I found out me and fiancee can't write off student loans: :frown:
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I have the double whammy of both being under the income limit and paying off all my loans already, so I admittedly did not know that.
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ShellShock - Standard deduction
Post in this thread and steve dave will tell you if you itemize or not.
:Rusty:
:impatient:
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lol @ you overwithholding dumbasses. that's about three, maybe four, dollar bills you'll never see again.
:kstategrad: <-- the govment
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ShellShock - Standard deduction
Post in this thread and steve dave will tell you if you itemize or not.
:Rusty:
:impatient:
Itemize
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lol @ you overwithholding dumbasses. that's about three, maybe four, dollar bills you'll never see again.
:kstategrad: <-- the govment
Doesn't file
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I like the part where he cited three tax breaks as the reasons his large tax bill was a surprise.
Yeah... I didn't say anything of the sort.
Yeah, I guess property taxes could have been counted as a fourth deduction. I'll leave that up to your discretion, though.
Student loan interest isn't a deduction (credit) for a lot of people. Neither is childcare expenses.
me when I found out me and fiancee can't write off student loans: :frown:
however i do believe the interest you paid on your student loans comes off your taxable income
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ShellShock - Standard deduction
Post in this thread and steve dave will tell you if you itemize or not.
SD = 1040-EZ
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I like the part where he cited three tax breaks as the reasons his large tax bill was a surprise.
Yeah... I didn't say anything of the sort.
Yeah, I guess property taxes could have been counted as a fourth deduction. I'll leave that up to your discretion, though.
Student loan interest isn't a deduction (credit) for a lot of people. Neither is childcare expenses.
me when I found out me and fiancee can't write off student loans: :frown:
however i do believe the interest you paid on your student loans comes off your taxable income
not if you make over $75k ($155k for joint filers)
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I like the part where he cited three tax breaks as the reasons his large tax bill was a surprise.
Yeah... I didn't say anything of the sort.
Yeah, I guess property taxes could have been counted as a fourth deduction. I'll leave that up to your discretion, though.
Student loan interest isn't a deduction (credit) for a lot of people. Neither is childcare expenses.
me when I found out me and fiancee can't write off student loans: :frown:
however i do believe the interest you paid on your student loans comes off your taxable income
not if you make over $75k ($155k for joint filers)
And over some number the amount you can deduct is reduced. :curse: Like from $120k AGI up to $155k or whatever that number is, is stupid sliding scale. :curse:
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That is the rawest of the raw deals.
killing the middle class and whatnot
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:impatient:
Itemize
:Wha: Well I'll be.
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I like the part where he cited three tax breaks as the reasons his large tax bill was a surprise.
Yeah... I didn't say anything of the sort.
Yeah, I guess property taxes could have been counted as a fourth deduction. I'll leave that up to your discretion, though.
Student loan interest isn't a deduction (credit) for a lot of people. Neither is childcare expenses.
me when I found out me and fiancee can't write off student loans: :frown:
however i do believe the interest you paid on your student loans comes off your taxable income
not if you make over $75k ($155k for joint filers)
yes it's very stupid
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it's hard out here for a HENRY
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what is a henry rus
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what is a henry rus
High income not rich yet
I had to look it up when K-S-U called himself one
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what is a henry rus
High income not rich yet
I had to look it up when K-S-U called himself one
haha
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it's high earner (I also looked it up)
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it's high earner (I also looked it up)
yeah, my bad
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prediction: Hinry will become the stupid new hipstery kid name because of this thread
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prediction: Hinry will become the stupid new hipstery kid name because of this thread
It would probably be a top 15 moment in my life if that happened
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it's a pretty great hipster name actually. you could even pronounce it different.
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it's a pretty great hipster name actually. you could even pronounce it different.
Kansans couldn't. (me)
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We used to always get a lot back; so I changed my elections on the W-4 so we are pretty close to even now...so I'm in no hurry to get them done. I downloaded the software this weekend and gathered up the documents we have received; so I feel like I made progress.
standard deduction (this one is a tough call but I'm very good so I maybe still nailed it)
You are wrong, but good job on the tough call...we are getting close as the amount of interest on the mortgage goes down. We'll probably take the standard deduction in a couple of years.
Just finished up our taxes, and guess what...SD was right after all.
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We used to always get a lot back; so I changed my elections on the W-4 so we are pretty close to even now...so I'm in no hurry to get them done. I downloaded the software this weekend and gathered up the documents we have received; so I feel like I made progress.
standard deduction (this one is a tough call but I'm very good so I maybe still nailed it)
You are wrong, but good job on the tough call...we are getting close as the amount of interest on the mortgage goes down. We'll probably take the standard deduction in a couple of years.
Just finished up our taxes, and guess what...SD was right after all.
I am a very good message boarder
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it's a pretty great hipster name actually. you could even pronounce it different.
Kansans couldn't. (me)
YES!
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Have several times in my life received negative feed back on the pronunciation of Ben/Bin.
Granted I used to interact with linguists quite a bit and mid-level linguists that don't care about regionalism or have strong preferences against it (East coasters) can be brutal.
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Have several times in my life received negative feed back on the pronunciation of Ben/Bin.
Granted I used to interact with linguists quite a bit and mid-level linguists that don't care about regionalism or have strong preferences against it (East coasters) can be brutal.
you'd think a linguist would be more understanding. I also have pronounced "Houston" as "Yew-Ston" for most of my life and had no idea it was incorrect.
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just venting quick...
the gambling tax laws in this country could use an update, particularly when it comes to sports betting. even the most recreational of recreational sports bettors would be stunned at how you should properly file your taxes. i have done quite a bit of research on this, but just an example:
let's say you bet $100/game, place an average of 20 bets per week, and break even for the year. that means you are up roughly $50k (winning bets) and down $50k (losing bets). you are now required to add $50k to your adjusted gross income on line 21. you can deduct your losses on line 40 (Schedule A), but still, your AGI is now considerably higher - and all for breaking even. if you are betting much larger amounts (say $500 per game or more), and betting higher volume (say 100 bets per week), the figures can become downright astronomical. and again, if you were to break even, you can't simply put $0 on your 1040 for 'other income'. The IRS expects you to list your wins, subtract your losses, and in case of audit, provide a diary of all your bets; locations; dates; etc.
because your AGI is artificially inflated, you lose out on simple deductions such as student loan interest, charitable donations, etc., because your "income" is so high. in summary, i would guess that the majority of sports bettors - certainly recreational and semi pro - are either a) not filing their taxes properly; or b) filing properly and venting on random forums.
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Owed $1500 to the feds. Getting a couple hundred back from State. It was a pretty good year in the dobber financial world. Beat my 2013 financial goals by over 30%. A couple more years like that, and I will own this place!
Also, get my merit raise and remainder of 2013 bonus next week. Merit raise is shitty. I deserve a real raise! I can't buy goEMAW for peanuts, ya know?
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just venting quick...
the gambling tax laws in this country could use an update, particularly when it comes to sports betting. even the most recreational of recreational sports bettors would be stunned at how you should properly file your taxes. i have done quite a bit of research on this, but just an example:
let's say you bet $100/game, place an average of 20 bets per week, and break even for the year. that means you are up roughly $50k (winning bets) and down $50k (losing bets). you are now required to add $50k to your adjusted gross income on line 21. you can deduct your losses on line 40 (Schedule A), but still, your AGI is now considerably higher - and all for breaking even. if you are betting much larger amounts (say $500 per game or more), and betting higher volume (say 100 bets per week), the figures can become downright astronomical. and again, if you were to break even, you can't simply put $0 on your 1040 for 'other income'. The IRS expects you to list your wins, subtract your losses, and in case of audit, provide a diary of all your bets; locations; dates; etc.
because your AGI is artificially inflated, you lose out on simple deductions such as student loan interest, charitable donations, etc., because your "income" is so high. in summary, i would guess that the majority of sports bettors - certainly recreational and semi pro - are either a) not filing their taxes properly; or b) filing properly and venting on random forums.
Do you support yourself off of gambling income? If not, why report gambling income/losses on your taxes?
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Doing mine this weekend. Maybe tomorrow night. Always dread them and push them off till the last minute.
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Do you support yourself off of gambling income? If not, why report gambling income/losses on your taxes?
not entirely, but to a large degree, yes.
i report because to do otherwise is tax evasion. more specifically, vegas sportsbooks have my SSN # on file (required upon signing up for betting apps).
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so, i hired a tax "specialist" to do my taxes this year. i had a few questions that i wanted to get answers to, and figured it was worth the relatively low expense to have someone do them for me (i owe quite a bit of money). i ended up finding a CPA online that charged $75 for the return; and $25 to efile. i visited the office exactly one week before the deadline, and was overly apologetic in coming to her so late. (in no way, shape or form was i expecting/wanting outstanding or exceptional service, and said as much)
but, i didn't expect/want awful service, either.
to recap:
-i basically had to walk her through basic things such as win/loss statements (casinos)
-she finished my return, and told me she would e-file the next day
-upon arriving home, i realized she had done something wrong and needed to make a change
-i researched for hours to answer questions she couldn't (my email went unreturned)
-she told me she would apply the change(s), thanked me for going "above and beyond" (lol), then said she'd e-file
-i emailed asking if she would confirm the amount; she did not reply
-i emailed asking if she would confirm that the IRS received the e-file; she did not reply
-i called her; she did not answer
i sent my IRS payment via snail mail today (i'm a dinosaur), including a 1040-V voucher that i'm not certain is the right amount. but as of now, i'm second-guessing myself and wondering if i should have sent my entire tax return. i opted not to, since i THINK she e-filed it; but again, because of her inability to send confirmation (it's been four days), i am now beginning to wonder if she even e-filed my return.
so now, i have two questions:
1. did i deserve better service? i have tried to keep correspondence to a minimum, and apologize every time i send an email, and definitely feel like i'm bothering her. but at the same time, i feel like since she took me on as a client, she should fulfill her obligations at least minimally (i feel like i'm asking for the bare minimum here)
2. should i e-file my own tax return? if for some reason my tax return WAS filed by her, and then i file it AGAIN, will the IRS scream at me, or consider it to be null and void, or whatever? i'd file my own right now if there were no repercussions for "double sending."
thanks!
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How much did you tip her? Maybe you are just getting poor service because she thought your tip was inadequate. :dunno:
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How much did you tip her? Maybe you are just getting poor service because she thought your tip was inadequate. :dunno:
i had never heard of such a thing. tipping a tax person? is this legit, or just crossthreading?
i mean, i couldn't have been more apologetic. i offered to pay double her fees, called myself an idiot for waiting so long, thanked her again and again for taking the time to meet with me, etc. i paid her before we even wrapped up. but no, i did not tip.
maybe ill email and ask her if this is about my lack of tip. :frown:
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looks like you gambled by waiting until the last minute
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i bet you won't go to her again
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looks like you gambled by waiting until the last minute
i feel like i already acknowledged this.
i bet you won't go to her again
:curse:
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i don't know any gambling terms to continue this dog and pony show. what are the odds?
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:D
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How much did you tip her? Maybe you are just getting poor service because she thought your tip was inadequate. :dunno:
i had never heard of such a thing. tipping a tax person? is this legit, or just crossthreading?
i mean, i couldn't have been more apologetic. i offered to pay double her fees, called myself an idiot for waiting so long, thanked her again and again for taking the time to meet with me, etc. i paid her before we even wrapped up. but no, i did not tip.
maybe ill email and ask her if this is about my lack of tip. :frown:
Oh, man. I've always heard that the nicest customers are the worst tippers. This only reinforces that stereotype. I'm sure she filed your taxes, but she's obviously upset about this.
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she just called, apologized for lack of email replies, and also for not sending the necessary confirmations ("I thought I did"). everything went through. she asked me to refer her business and write a positive review.
i guess i can do that (since i didn't tip).
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and pat summit thought she could change you. :lol:
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and pat summit thought she could change you. :lol:
every time i see you've replied to a thread i've posted in, i have a sinking feeling in my stomach before i click it.
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every time i see you've replied to a thread i've posted in, i have a sinking feeling in my stomach before i click it.
i don't believe you. you love to inform the board about your personality quirks, and all of my posts to you highlight that same subject.
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The last time I was way late getting my stuff to the tax specialist (gE-endorsed best CPA in the world), I apologized for the delay and offered to simply pay in to the governments whatever amount she dreamed could potentially cover any tax liability right away and then she could take her time filing the returns late. She got it all done perfectly on time anyway. I paid her double what was on the bill when I got it; I guess you could call that a tip.
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I work in Missouri, and I moved from KC, MO to OP last spring. I've been plugging away at my taxes for a while now, but I think I've met my match. There are so many forms to cover my scenario (I'm technically a non-resident in both states for 2014) and I've called both the Missouri department of revenue and Kansas dept. of revenue to ask questions. Neither have been really helpful.
I refuse to pay anyone because I'm stubborn. But I'm about to file and just cross my fingers that I did it right.
I hate this crap, but I'll be damned if I pay someone to do it.
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Why do you refuse to pay someone?
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Why do you refuse to pay someone?
Huge mistake, even your pride has a price this isn't an action movie or something, you can walk away from this.
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Why do you refuse to pay someone?
Huge mistake, even your pride has a price this isn't an action movie or something, you can walk away from this.
I agree. Garden City Accountant Cat can probably whip this things ass remotely for a relatively modest fee.
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I'd be surprised if you couldn't find somebody to do this for less that $400. My guy lives in Topeka. I haven't lived in ks for 13 years. I still pay him to basically double check everything. If I die tomorrow, nobody has to guess at anything.
Gonna win 'em all!
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it seems like it would be pretty easy if you just put the dates you moved into turbotax or whatever
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Why do you refuse to pay someone?
My parents both worked for the IRS for the entirety of their careers. I have access to assistance, which I've used, but I like to know the in's and out's of all of this. Also, I am unbelievably cheap.
When I bought my first car, I broke down every single cost, fee, calculation, etc. into an Excel spreadsheet so I understood where every dollar went. I did the same thing with my paycheck. When I finished my basement in my old house, I got some people together and acted as my own general contractor and subbed out whatever I couldn't do. It helps me learn where to optimize and understand where every dollar goes.
In this instance, I read the tax preparation guides for Kansas and Missouri, and I filled everything out accordingly based on the software after that. The guy from the Kansas DOR basically said I'm doing it right, but just to be prepared that whoever works it on their side may screw it up, so I probably need to be ready to back it up with a tax advocate if necessary.
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it seems like it would be pretty easy if you just put the dates you moved into turbotax or whatever
It gets weird because I'm a part-year resident in two states, and 100% of my revenue comes from the state that I used to live in. That requires some additional stuff that's not 100% clear on how to calculate. After I told the guy from the KDOR how I was doing it, he said, "Yeah, that sounds okay. I honestly don't know how you're supposed to fill that in."
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If you receive a notice, and that's a pretty big if, you can just explain it away with a letter and some supporting schedules. I doubt you will need an advocate.
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Plus, as you've alluded, people in both state's DOR are morons.
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it seems like it would be pretty easy if you just put the dates you moved into turbotax or whatever
It gets weird because I'm a part-year resident in two states, and 100% of my revenue comes from the state that I used to live in. That requires some additional stuff that's not 100% clear on how to calculate. After I told the guy from the KDOR how I was doing it, he said, "Yeah, that sounds okay. I honestly don't know how you're supposed to fill that in."
I'm pretty sure I've done that and just entered the date I moved into turbotax or whatever and it worked fine.
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if i ever do all that stuff in a spreadsheet and you guys find out, make sure to punch me square in the face and tell me to just pay someone to do it
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TBT, I agree. There is a difference between understand and being insane.
Gonna win 'em all!
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TBT, I agree. There is a difference between understand and being insane.
(Sorry pan)
Gonna win 'em all!
Gonna win 'em all!
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I'm not offended. I'm weird. I know that already.
I just like to understand how all of the parts and pieces work.
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it seems like it would be pretty easy if you just put the dates you moved into turbotax or whatever
Turbotax is the best $30 I spend every year. Takes away all of the headache and my tax return is ready in like 30 minutes.
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it seems like it would be pretty easy if you just put the dates you moved into turbotax or whatever
Turbotax is the best $30 I spend every year. Takes away all of the headache and my tax return is ready in like 30 minutes.
I use H&R Block and don't even pay. Once I efile federal for free I just copy it into California's efile on my own instead of paying them to file. It's insanely easy.
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TurboTax federal free edition + standard deduction = 15 minutes and done. #TexasTaxes
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it seems like it would be pretty easy if you just put the dates you moved into turbotax or whatever
Turbotax is the best $30 I spend every year. Takes away all of the headache and my tax return is ready in like 30 minutes.
If you park $25 in a State Farm savings account you wouldn't even pay for Turbotax.
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panjan, i like you more now that i know these additional details of your personality.
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I work in Missouri, and I moved from KC, MO to OP last spring. I've been plugging away at my taxes for a while now, but I think I've met my match. There are so many forms to cover my scenario (I'm technically a non-resident in both states for 2014) and I've called both the Missouri department of revenue and Kansas dept. of revenue to ask questions. Neither have been really helpful.
I refuse to pay anyone because I'm stubborn. But I'm about to file and just cross my fingers that I did it right.
I hate this crap, but I'll be damned if I pay someone to do it.
I've been in that scenario before. The numerous copies of paperwork you had to send to everyone was annoying but it wasn't that bad. I think I broke even that year. I got back from federal and MO what KS said I owed.
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I work in Missouri, and I moved from KC, MO to OP last spring. I've been plugging away at my taxes for a while now, but I think I've met my match. There are so many forms to cover my scenario (I'm technically a non-resident in both states for 2014) and I've called both the Missouri department of revenue and Kansas dept. of revenue to ask questions. Neither have been really helpful.
I refuse to pay anyone because I'm stubborn. But I'm about to file and just cross my fingers that I did it right.
I hate this crap, but I'll be damned if I pay someone to do it.
I've been in that scenario before. The numerous copies of paperwork you had to send to everyone was annoying but it wasn't that bad. I think I broke even that year. I got back from federal and MO what KS said I owed.
I apparently owe Kansas nothing; all of the taxes I make in Missouri apparently cover it. It's all a wash.
I'm getting money back from the Feds and Missouri. I had to withhold a ton on Federal because I had to repay the home purchase credit from 2008. We used that no interest loan to pay off a bunch of student loans.
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panjan, i like you more now that i know these additional details of your personality.
Thank you, sys. I'm a fairly neurotic person.
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I work in Missouri, and I moved from KC, MO to OP last spring. I've been plugging away at my taxes for a while now, but I think I've met my match. There are so many forms to cover my scenario (I'm technically a non-resident in both states for 2014) and I've called both the Missouri department of revenue and Kansas dept. of revenue to ask questions. Neither have been really helpful.
I refuse to pay anyone because I'm stubborn. But I'm about to file and just cross my fingers that I did it right.
I hate this crap, but I'll be damned if I pay someone to do it.
I've been in that scenario before. The numerous copies of paperwork you had to send to everyone was annoying but it wasn't that bad. I think I broke even that year. I got back from federal and MO what KS said I owed.
I apparently owe Kansas nothing; all of the taxes I make in Missouri apparently cover it. It's all a wash.
I'm getting money back from the Feds and Missouri. I had to withhold a ton on Federal because I had to repay the home purchase credit from 2008. We used that no interest loan to pay off a bunch of student loans.
I ran into this same thing. Spent the first 3 months working in MO then switched jobs and now work in KS. First time I went through and it said I owed KS a couple hundred dollars. Went back and realized you can insert income taxes paid to other states and it will cancel out, ended up getting money back from KS.
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I work in Missouri, and I moved from KC, MO to OP last spring. I've been plugging away at my taxes for a while now, but I think I've met my match. There are so many forms to cover my scenario (I'm technically a non-resident in both states for 2014) and I've called both the Missouri department of revenue and Kansas dept. of revenue to ask questions. Neither have been really helpful.
I refuse to pay anyone because I'm stubborn. But I'm about to file and just cross my fingers that I did it right.
I hate this crap, but I'll be damned if I pay someone to do it.
I've been in that scenario before. The numerous copies of paperwork you had to send to everyone was annoying but it wasn't that bad. I think I broke even that year. I got back from federal and MO what KS said I owed.
I apparently owe Kansas nothing; all of the taxes I make in Missouri apparently cover it. It's all a wash.
I'm getting money back from the Feds and Missouri. I had to withhold a ton on Federal because I had to repay the home purchase credit from 2008. We used that no interest loan to pay off a bunch of student loans.
I ran into this same thing. Spent the first 3 months working in MO then switched jobs and now work in KS. First time I went through and it said I owed KS a couple hundred dollars. Went back and realized you can insert income taxes paid to other states and it will cancel out, ended up getting money back from KS.
The guy I talked to at the KDOR said that because I'm filing as a part-year resident this year, I won't get money back from KS. But if I would have gotten a true "credit", it would be been like a hundred bucks.
The really odd thing after going through everything is that Kansas has a lower tax rate, sure, but really, I'd pay lower taxes in Missouri if I made less. Once you hit a certain threshold, in Kansas, they lower the tax rate to 4.8% and then give you something like $630 back. Missouri just taxes you 6% on your taxable income minus 9k.
It was so weird.
Just filed 30 minutes ago. My initial filing was rejected by the IRS because I overpaid my first-time home buyers tax credit by $500, so I got an extra $500 back. :D
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I work in Missouri, and I moved from KC, MO to OP last spring. I've been plugging away at my taxes for a while now, but I think I've met my match. There are so many forms to cover my scenario (I'm technically a non-resident in both states for 2014) and I've called both the Missouri department of revenue and Kansas dept. of revenue to ask questions. Neither have been really helpful.
I refuse to pay anyone because I'm stubborn. But I'm about to file and just cross my fingers that I did it right.
I hate this crap, but I'll be damned if I pay someone to do it.
I've been in that scenario before. The numerous copies of paperwork you had to send to everyone was annoying but it wasn't that bad. I think I broke even that year. I got back from federal and MO what KS said I owed.
I apparently owe Kansas nothing; all of the taxes I make in Missouri apparently cover it. It's all a wash.
I'm getting money back from the Feds and Missouri. I had to withhold a ton on Federal because I had to repay the home purchase credit from 2008. We used that no interest loan to pay off a bunch of student loans.
I ran into this same thing. Spent the first 3 months working in MO then switched jobs and now work in KS. First time I went through and it said I owed KS a couple hundred dollars. Went back and realized you can insert income taxes paid to other states and it will cancel out, ended up getting money back from KS.
The guy I talked to at the KDOR said that because I'm filing as a part-year resident this year, I won't get money back from KS. But if I would have gotten a true "credit", it would be been like a hundred bucks.
The really odd thing after going through everything is that Kansas has a lower tax rate, sure, but really, I'd pay lower taxes in Missouri if I made less. Once you hit a certain threshold, in Kansas, they lower the tax rate to 4.8% and then give you something like $630 back. Missouri just taxes you 6% on your taxable income minus 9k.
It was so weird.
Just filed 30 minutes ago. My initial filing was rejected by the IRS because I overpaid my first-time home buyers tax credit by $500, so I got an extra $500 back. :D
Standard Deduction
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I really need to file our taxes this weekend. I have everything entered, just need to double check and submit it.
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Same for me Mrs. Gooch. Getting not much back but that's ok. I tried to set it up where I wasn't giving the feds a $2500 interest free loan anymore
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Same for me Mrs. Gooch. Getting not much back but that's ok. I tried to set it up where I wasn't giving the feds a $2500 interest free loan anymore
Very smart poster.
Gonna win 'em all!
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State income tax sounds like a pain.
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I was all set to receive a whopping $2 back from Kansas, but when I found out they don't send out refunds for amounts less than $5 I went back into the system and donated that entire windfall to the Chickadee Checkoff.
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I sent all of my tax stuff to my guy yesterday. Got home last night and I get a corrected 1099 in the mail.
That is just the worst.
Gonna win 'em all!
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I was all set to receive a whopping $2 back from Kansas, but when I found out they don't send out refunds for amounts less than $5 I went back into the system and donated that entire windfall to the Chickadee Checkoff.
Even direct deposit? Is the inverse true? Do they not collect funds less than a fiver? Taxes are the biggest crock of crap that no gets as furious about as they should.
We're all getting "tax rebates" but we're basically just getting back money we'd been loaning the state/feds for free for the last year or so. 0% interest rates! The inverse isn't true. Try not paying any income tax until april 20th and see what happens. Bullshit.
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I was all set to receive a whopping $2 back from Kansas, but when I found out they don't send out refunds for amounts less than $5 I went back into the system and donated that entire windfall to the Chickadee Checkoff.
Even direct deposit? Is the inverse true? Do they not collect funds less than a fiver? Taxes are the biggest crock of crap that no gets as furious about as they should.
We're all getting "tax rebates" but we're basically just getting back money we'd been loaning the state/feds for free for the last year or so. 0% interest rates! The inverse isn't true. Try not paying any income tax until april 20th and see what happens. Bullshit.
Whoops I should have clarified, they don't just keep it and ignore the fact you're owed a small amount of money if it's less than $5 but the screen said they would apply it towards next year's taxes.
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Same for me Mrs. Gooch. Getting not much back but that's ok. I tried to set it up where I wasn't giving the feds a $2500 interest free loan anymore
it still drives me crazy when people say this crap. it's not the 70s anymore, you inflationmongers. the interest you're forgoing on that loan is like 50 cents.
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Same for me Mrs. Gooch. Getting not much back but that's ok. I tried to set it up where I wasn't giving the feds a $2500 interest free loan anymore
it still drives me crazy when people say this crap. it's not the 70s anymore, you inflationmongers. the interest you're forgoing on that loan is like 50 cents.
Yeah, but it makes you feel smarter than Uncle Sam. What's that worth, hotshot?
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Yeah, but it makes you feel smarter than Uncle Sam. What's that worth, hotshot?
50 cents.
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Same for me Mrs. Gooch. Getting not much back but that's ok. I tried to set it up where I wasn't giving the feds a $2500 interest free loan anymore
it still drives me crazy when people say this crap. it's not the 70s anymore, you inflationmongers. the interest you're forgoing on that loan is like 50 cents.
i'm with sys on this one (but not with sys on who does my taxes). if the govt used my money to make new roads and pay school teachers, and also kept me from using it on boulevard 80 acre 6-packs, what do i care? (answer: not at all)
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Same for me Mrs. Gooch. Getting not much back but that's ok. I tried to set it up where I wasn't giving the feds a $2500 interest free loan anymore
it still drives me crazy when people say this crap. it's not the 70s anymore, you inflationmongers. the interest you're forgoing on that loan is like 50 cents.
It's probably closer to $50.
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$3.125 (0.25% for 1 year treasury * 2500/2).
almost exactly a cup of coffee for steve dave.
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$3.125 (0.25% for 1 year treasury * 2500/2).
almost exactly a cup of coffee for steve dave.
My investments made a lot more than 0.25% last year.
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I agree that the total amount is pretty laughable, though.
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My investments made a lot more than 0.25% last year.
risk v risk free.
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I was all set to receive a whopping $2 back from Kansas, but when I found out they don't send out refunds for amounts less than $5 I went back into the system and donated that entire windfall to the Chickadee Checkoff.
This has happened to me two years in a row. I've rolled it over both times so that I have a balance of $4 with the State of Kansas. Hoping for a kickback next year! :crossfingers:
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I'm just saying you wouldn't say to anyone "Hey, hold this $3k for me until April" with no benefit on your end. I'd rather just have my money upfront. I know I'm not gaining interest on it or whatever, I'd just rather have more during the year at this point. This is the first year I've done this fyi
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My investments made a lot more than 0.25% last year.
risk v risk free.
My checking account pays 2.26% interest on the average balance.
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I put it off as long as possible. That way, I get a refund in like June and am like, "Hey, I can get another one of these in six months if I really want to." But instead of actually getting another refund six months later, I start the process all over again. What a rush.
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My investments made a lot more than 0.25% last year.
risk v risk free.
My checking account pays 2.26% interest on the average balance.
what bank? that's really high.
not a perfect comparison, though. i have credit cards that pay me a ridiculous annualized rate to lend me money. presumably they think they make money on the deal with the average customer somehow, but it has little to do with the true cost of money.
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Must be a credit union
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i think i found it. must be the only one in the country. sounds like they expect to make money on the card transaction fees and give out a high % rate in return. basically the same concept as the miles/points you get on cc spend.
https://www.gpcu.org/Accounts/Checking/Golden-Rewards-Checking-FAQ.aspx
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must be the only one in the country.
actually, it seems like there's quite a few with the same or similar schemes.
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Same for me Mrs. Gooch. Getting not much back but that's ok. I tried to set it up where I wasn't giving the feds a $2500 interest free loan anymore
it still drives me crazy when people say this crap. it's not the 70s anymore, you inflationmongers. the interest you're forgoing on that loan is like 50 cents.
Agreed. However, my strategy is to set up an operating budget and use the money that I normally saved for large withholding amounts to other things that can get me further deductions like IRA's, 529's, etc.
Basically, there's risk involved, but I'm trying to further my deductions with money that I was normally withholding.
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I owe money this year
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I owe money this year
YOU TOOK OUT AN INTEREST FREE LOAN FROM THE GOVT! great job
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I owe money this year
YOU TOOK OUT AN INTEREST FREE LOAN FROM THE GOVT! great job
Its materially different when the government can charge you a fee if you take out too big of an interest free loan whereas the reverse is not true.
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Yeah, lib^7 better hope he doesn't have to pay a penalty.
One year I had the same idea as Cf3 and then I didn't pay enough in and had to pay a big tax bill (luckily I had keep all that extra in savings) plus a penalty.
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i think i found it. must be the only one in the country. sounds like they expect to make money on the card transaction fees and give out a high % rate in return. basically the same concept as the miles/points you get on cc spend.
https://www.gpcu.org/Accounts/Checking/Golden-Rewards-Checking-FAQ.aspx
Yeah, that's what I use.
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My investments made a lot more than 0.25% last year.
risk v risk free.
who would have guessed that sys stores his money under a mattress because he is afraid of a little risk. Major turn of events.
Gonna win 'em all!
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who would have guessed that sys stores his money under a mattress because he is afraid of a little risk. Major turn of events.
i don't. i'm insanely insensitive to investment risk. but i know the difference.
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Yeah, lib^7 better hope he doesn't have to pay a penalty.
One year I had the same idea as Cf3 and then I didn't pay enough in and had to pay a big tax bill (luckily I had keep all that extra in savings) plus a penalty.
it's only like $300. unique situation to this year
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Yeah, lib^7 better hope he doesn't have to pay a penalty.
One year I had the same idea as Cf3 and then I didn't pay enough in and had to pay a big tax bill (luckily I had keep all that extra in savings) plus a penalty.
it's only like $300. unique situation to this year
:surprised:
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Yeah, lib^7 better hope he doesn't have to pay a penalty.
One year I had the same idea as Cf3 and then I didn't pay enough in and had to pay a big tax bill (luckily I had keep all that extra in savings) plus a penalty.
it's only like $300. unique situation to this year
:surprised:
whatever you're thinking is probably incorrect
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Yeah, lib^7 better hope he doesn't have to pay a penalty.
One year I had the same idea as Cf3 and then I didn't pay enough in and had to pay a big tax bill (luckily I had keep all that extra in savings) plus a penalty.
it's only like $300. unique situation to this year
:surprised:
whatever you're thinking is probably incorrect
A bit of contract work? 1099?
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i made my first "generous" donation to KSU this year, how do I get that added/known to the IRS?
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i made my first "generous" donation to KSU this year, how do I get that added/known to the IRS?
I think just call up and tell them.
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$1500 to Feds, $200 to the state. NOT TOO BAD!
Gonna win 'em all!
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i think i found it. must be the only one in the country. sounds like they expect to make money on the card transaction fees and give out a high % rate in return. basically the same concept as the miles/points you get on cc spend.
https://www.gpcu.org/Accounts/Checking/Golden-Rewards-Checking-FAQ.aspx
Yeah, that's what I use.
I have found something like this everywhere I have lived, always with smaller local/regional banks. For those around ICT, Emprise Bank has one but high rate is only for the first 10k. Can open multiple accounts tho.
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I put it off as long as possible. That way, I get a refund in like June and am like, "Hey, I can get another one of these in six months if I really want to." But instead of actually getting another refund six months later, I start the process all over again. What a rush.
So, I guess you can go up to three years without forfeiting any refund. So, I'm thinking about filing for both my 2014 and 2015 refunds in spring of 2016. You know, just for the hell of it. Two refunds at once!
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Anyone know of a cheap tax person in KC? Mine are a little complicated.
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what's complicated bud?
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Worked for 3 different companies in 2015 (2 in KS, 1 in MO), live in MO, & paid a good deal of interest in student loans.
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Yeah, lib^7 better hope he doesn't have to pay a penalty.
One year I had the same idea as Cf3 and then I didn't pay enough in and had to pay a big tax bill (luckily I had keep all that extra in savings) plus a penalty.
it's only like $300. unique situation to this year
:surprised:
whatever you're thinking is probably incorrect
A bit of contract work? 1099?
Almost certainly didn't make enough for that fat EIC or alimony.
:lol:
It's funny because he's such a loser
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i doubt any of that is much of a problem for one of the free sites
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Worked for 3 different companies in 2015 (2 in KS, 1 in MO), live in MO, & paid a good deal of interest in student loans.
TurboTax
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Worked for 3 different companies in 2015 (2 in KS, 1 in MO), live in MO, & paid a good deal of interest in student loans.
TurboTax
TurboTax should make quick work of your situation
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Thanks bros! :thumbs:
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your taxes aren't complicated at all and turbo tax will walk you through it
if you decide to pay someone i would imagine it wouldn't be much to have them do it either
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go H&R Block online and support your neighbors you goofs
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go H&R Block online and support your neighbors you goofs
i like their site the most too
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also not a cpa but i'll do them for you for $150
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go H&R Block online and support your neighbors you goofs
My neighbors need to move into accountancy areas that haven't been supplanted by robots.
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When you realize how much $ you spent on student loan interest...
(https://goemaw.com/forum/proxy.php?request=http%3A%2F%2Fgifsec.com%2Fwp-content%2Fuploads%2FGIF%2F2014%2F04%2Fthrow-up-gifs.gif%3Fgs%3Da&hash=7093ef17bdba49b84bc82a9438bbb5936b11b804)
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wacky, maybe just take them into a tax specialist at H&R block or something. sure you might pay an extra couple hundred bucks than if you did it yourself, but i'm guessing you have to file Federal, Kansas, Missouri, and possibly City of KC? you might be able to muddle your way through the software of H&R block taxcut, or turbotax, but that doesn't mean you didn't miss something or did it right. just a thought, but you would be paying to not have to stress out about it, and knowing you will get the maximum refund owed to you.
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:thumbs: I agree. I think we're going to give a stab at it tonight, but if it starts spinning our heads, I'll probably just take it to someone. We're hoping for a decent return to finish off the honeymoon fund.
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:thumbs: I agree. I think we're going to give a stab at it tonight, but if it starts spinning our heads, I'll probably just take it to someone. We're hoping for a decent return to finish off the honeymoon fund.
:D
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Also, every time I've moved from a company, I've transferred my 401 K. But since my last job was so brief, I had a small check of $130 and went a head and cashed it. I know, dumb! So now I need to report that too. :curse:
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wacky i think that may end up costing you a lot, but i could be wrong :frown:
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40-50%, probably. It was extremely dumb.
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Worked for 3 different companies in 2015 (2 in KS, 1 in MO), live in MO, & paid a good deal of interest in student loans.
TurboTax
TurboTax should make quick work of your situation
Not to jump in late on this but I third this. It'll make pretty quick work of this. Even with working in multiple states/living in multiple states and having multiple jobs will look pretty easy in TurboTax.
If only I hadn't worked in Canada for 5 months I'd have my taxes done a month ago. While my company is paying for my taxes to be done by an international tax expert company, the amount of work I'm putting into it basically is the same as if I had done them myselves (granted I'm single, have not dependents, house, and money floating around in odd places or even student loans for a while now, so things are really, really straightforward) it's just more annoying than usual, not only because of the international part, but also because my company decided to change tax companies between last year and this year, and zero of the information I had recorded with the first company transferred to the new one. Which has meant hours of transcribing info from the old site to the new site, and of course nothing is "exactly" the same. Just, ugh.
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My mom has a girl who will do all of it for $150. That's not bad, since i'm not sure if my companies have been charging me a downtown tax.
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Good talk guys. I'm going to try it myself tonight, before handing it over. Might as well. :cheers:
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It's not brain surgery, fanning.
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I've avoided it for years, okcat. My mom works for lawyers who work with taxes as well. It's always been pretty much free, but they've got bigger things to worry about right now. Federal was easy last year, it's splitting up the states.
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My mom has a girl who will do all of it for $150. That's not bad, since i'm not sure if my companies have been charging me a downtown tax.
I already called dibs
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I know, I'm just going to do it tonight, but thanks! :cheers:
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You have to pay a tax to live downtown? Streetcar :shakesfist:
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1% tax and that was before the streetcar. Now cost of living is increasing and if you're renting, the landlords are raising rent.
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Had no idea downtown has a special income tax zone
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Had no idea downtown has a special income tax zone
he's talking about the 1% earnings tax on people who work in kcmo. he doesn't have to pay it on the income he's earned in kansas.
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I know, I was just having some fun giving my buddy WackyCat08 a little bit of the business
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Though I thought the earnings tax was for any city resident, and you have to pay regardless of where the money was earned.
Exact opposite? Any money made in the city is paid, regardless of where you live?
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Who has to file and/or pay earnings tax?
All Kansas City, Missouri residents are required to pay the earnings tax, even if they work outside of the city. Non-residents are required to pay the earnings tax on income earned within Kansas City, Missouri city limits.
http://kcmo.gov/tax/tax-home/faq/individual/
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Though I thought the earnings tax was for any city resident, and you have to pay regardless of where the money was earned.
Exact opposite? Any money made in the city is paid, regardless of where you live?
This is what I thought.
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Who has to file and/or pay earnings tax?
All Kansas City, Missouri residents are required to pay the earnings tax, even if they work outside of the city. Non-residents are required to pay the earnings tax on income earned within Kansas City, Missouri city limits.
http://kcmo.gov/tax/tax-home/faq/individual/
Confirmed.
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Whenever I'm too lazy to do them online I just ask my tax buddy to do them. I buy him a six pack and he does them in like 10 mins and it always works out in my favor :kstategrad:
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Who has to file and/or pay earnings tax?
All Kansas City, Missouri residents are required to pay the earnings tax, even if they work outside of the city. Non-residents are required to pay the earnings tax on income earned within Kansas City, Missouri city limits.
http://kcmo.gov/tax/tax-home/faq/individual/
Double dipping rough riders. But, I already knew that. Weird though how at the state level this essentially (at least on income) doesn't apply.
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Who has to file and/or pay earnings tax?
All Kansas City, Missouri residents are required to pay the earnings tax, even if they work outside of the city. Non-residents are required to pay the earnings tax on income earned within Kansas City, Missouri city limits.
http://kcmo.gov/tax/tax-home/faq/individual/
Double dipping rough riders. But, I already knew that. Weird though how at the state level this essentially (at least on income) doesn't apply.
if you live in missouri and work in kansas, you will calculate your kansas income tax amount, and also your missouri income tax amount. you will attach a form with your missouri filing, showing how much state income tax you paid in kansas. you compare the amounts in each state. if the missouri amount is higher, you have to pay missouri the difference. for example if my tax amount was $5000 in kansas, and $5500 in missouri, i would have paid $5000 to kansas, and i would owe $500 to missouri.
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i'm not sure what would happen if the tax amount you paid in kansas was higher than what missouri calculated your tax amount to be. would missouri pay you the difference? i would guess probably not.
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I owed 308 to federal, 55 to KS. Not bad.
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That's pretty much what happens living in Kansas working in Missouri, Those 2 numbers though however are essentially the same, so (in this case) MO gets $5k, KS $500. The point I was making was more how regardless of whether you work in KC, or live in KC, you pay that tax. If your KS tax = MO tax, you'd only pay one in the state you worked in, not both. I understand fundamentally why KC does it, and why the states do what they do, it's just there is no equivalent "Overland Park" income tax to send my taxes to, and if there was, it would suck ass to pay a .5% OP income tax for example and 1% KC income tax cause I live in one, work in the other, a not really have a formal way to say "hey OP, I paid $1k to KCMO, so I don't owe you $500" if OP had a similar rule. Honestly, KCMO having an income tax was a little bit weird for me to learn when I first started out as an intern. I didn't even know cities having an income tax was a thing.
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if OP had a 0.5% and you lived there while working in KCMO, i'm sure it would become a thing where OP would get 0.5% and KCMO would get the remaining 0.5%
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as bad as the tax situ is in missouri, kansas makes them look like tax prodigies
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Turbotax pro-tip - park $25 in a State Farm savin gs account and you can efile state and federal TT Deluxe for free. Been doing it for years, just follow the link on your SF account page.
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Why would anyone live in Missouri and work in Kansas?
That's like getting gas at QT, and using the bathroom at a Valero.
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Why would a vehicle registration letter (or something) for person A have been mailed to the address for person B? Person B is clearly not related to person A, has no business dealings (that I am aware of) with person A, has never resided at that residence. Possible nefarious tax dodging or something?
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Why would a vehicle registration letter (or something) for person A have been mailed to the address for person B? Person B is clearly not related to person A, has no business dealings (that I am aware of) with person A, has never resided at that residence. Possible nefarious tax dodging or something?
Person A & B live at the same address? Or it was mailed with Person A's name to Person B's address?
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I would assume county incompetence before nefarious deeds
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It was mailed to person A by name at person B's address. Like this:
Name for Person A
Person B street Address
Person B City, Person B State, Person B zip code
Person A does not live in the same county as person B. They are friends. I doubt the county could somehow conveniently eff up something like that. Like what are the odds you receive your friend's vehicle registration at your address? Like much much smaller than receiving just any random person's vehicle registration to your address.
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Person A accidentally (or purposely?) wrote down person B's address on some paperwork somewhere.
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Oh, I thought it was a random person. Are you a or B?
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Mrs Gooch, how in the world would that accidentally happen?
I am neither A or B. If I were to name person B (I'm not going to) many people here would have at least heard of this person or this person's family.
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Person A has fraudulently used Person B's address for some reason. (Get kids into a different school district, reduced boat property taxes, etc.)
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Why would a vehicle registration letter (or something) for person A have been mailed to the address for person B? Person B is clearly not related to person A, has no business dealings (that I am aware of) with person A, has never resided at that residence. Possible nefarious tax dodging or something?
The vaniers have run amok and must be stopped
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Or Person A set up an account on a garage sale website using Person B's addresss to help Person B advertise their garage sale.
Now when Person A fills out online stuff, Person B's address auto fills. And one time Person A did not notice this before hitting the submit button.
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Mrs Gooch, how in the world would that accidentally happen?
I am neither A or B. If I were to name person B (I'm not going to) many people here would have at least heard of this person or this person's family.
Jason Whitlock
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Google :curse:
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person a is person b's sock.
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The biggest question is who gives a crap
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Sometimes the USPS just sucks, I had a package from Amazon get marked undeliverable by them because I had it shipped to Freundinsonntags address with my name
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Mrs Gooch, how in the world would that accidentally happen?
I am neither A or B. If I were to name person B (I'm not going to) many people here would have at least heard of this person or this person's family.
chrome autofill shipping address?
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This return. :love: Do you get more breaks when you get married? I'm so dumbfounded on why we're getting so much back this year. Is it because I made more? :dunno:
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This return. :love: Do you get more breaks when you get married? I'm so dumbfounded on why we're getting so much back this year. Is it because I made more? :dunno:
Yes, and especially if one of you earns way more than the other.
That being said, if you're getting a ton back, you might want to reduce your deductions, getting a lot back is not the goal, the goal should be getting as much out of your paycheck and only getting a little back. I'm not a fire breathing anti-gubment type, but time value of money says you should be getting more per paycheck and less on the return is better than some fat, no interest yielded government holding your money for free refund.
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flat screens tho
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Oh, I agree with that. I've always claimed Single and 1.
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This return. :love: Do you get more breaks when you get married? I'm so dumbfounded on why we're getting so much back this year. Is it because I made more? :dunno:
didn't mrs wack get S-canned? that will really help as she made nothing for a period.
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Yeah, she received unemployment from September on.
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Yeah, she received unemployment from September on.
unemployed dependents are a great tax break
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:thumbs:
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you think that's great, try having shitloads of kids and owning a message board that you spend tons of irl money on various legitimate expenses.
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:love: :cheers: :kstategrad:
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I'm hoping Donald makes it so my taxes are about half of what they are now by this time next year. :pray:
It would be like getting married all over again.
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you think that's great, try having shitloads of kids and owning a message board that you spend tons of irl money on various legitimate expenses.
:fatty:
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sounds like ol' wacky got his taxes won
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I'm writing a check to the govt for $25k in April.....good times.
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Yeah, she received unemployment from September on.
unemployed dependents are a great tax break
I don't think they withhold taxes on unemployment benefits, so this probably actually hurt the potential of "the return"
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I'm writing a check to the govt for $25k in April.....good times.
Congrats
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I'm writing a check to the govt for $25k in April.....good times.
Congrats
:dubious:
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sounds like ol' wacky got his taxes won
Already planning a summer trip with the Mrs. We're adulting alright these days!
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Taxes blow. My effective federal income tax rate (total tax / AGI) hit 20% this year. Add in FICA, state, real and personal property, nanny, and sales tax and I'm paying more than 40% of every dollar earned to the Man. Factor in all the corporate taxes passed along to me in the prices I pay for goods and services, and it's likely closer to 50%. What a system.
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Hey, that's down from the 65% or whatever you claimed last time!
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My MIL moved into our house this year. No income. SS only. Hello third dependent.
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My MIL moved into our house this year. No income. SS only. Hello third dependent.
irl or nah?
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IRL.
Game changer on many levels.
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I really like how Turbotax shows you going from owing thousands to getting back thousands after you enter in all the deductions.
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IRL.
Game changer on many levels.
Sorry man.
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I'm writing a check to the govt for $25k in April.....good times.
Congrats
:dubious:
:sdeek: The pool?
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I'm writing a check to the govt for $25k in April.....good times.
Congrats
:dubious:
:sdeek: The pool?
Yeah...the pool is on hold. Installing a half court concrete basketball court with Goalrilla goal for the short term. Maybe pool construction later this summer. :frown:
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Hate paying taxes. Combined income of wife and I pushes our income through the roof, makes the Feds happy. :angry:
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Hate paying taxes. Combined income of wife and I pushes our income through the roof, makes the Feds happy. :angry:
yeah man, making a lot of money sucks!
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It's the worst
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Boy I'll say.
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3 dependents!
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3 dependents!
I have 3 as well KK. Didn't help this year.
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3 dependents!
I have 3 as well KK. Didn't help this year.
too much independent contracting?
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Hate paying taxes. Combined income of wife and I pushes our income through the roof, makes the Feds happy. :angry:
yeah man, making a lot of money sucks!
Seriously tho - it does kinda suck to pay a much higher percentage of my income to state and federal government than most people just because I'm smarter and work harder. That's a pretty crappty way to do things.
(https://files.taxfoundation.org/legacy/docs/FF491_2.png)
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Seems pretty fair to me :dunno:
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why do you think people not as rich as you don't work hard?
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I'm apparently smarter and work harder than K-S-U-Dub! :Woohoo:
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I'm lazy AF tho. this doesn't bode well for your intelligence ksud. :frown:
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why do you think people not as rich as you don't work hard?
You have to keep in mind that he is a millennial and a special someone who makes me uncomfortable that needs recognition and validation for everything he does.
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Conservative here. Paying taxes to help the less fortunate is part of the game. I'd rather be a lucky contributor. Being poor sucks. Grew up that way. No thanks.
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I still have more at the end of the year to blow on my wife and kids.
And blow it I will.
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3 dependents!
I have 3 as well KK. Didn't help this year.
too much independent contracting?
MAYBE!!!
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ksuw, have you considered taking a job that pays less, in order to take advantage of the lower tax rate?
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I love moments like these.
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Husband of a high school friend makes $300k+a year. Thinks anyone making middle income or less is lazy.
I reminded him his wife is a school teacher.
I imagine he feels as dumb as ksuw right now.
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Husband of a high school friend makes $300k+a year. Thinks anyone making middle income or less is lazy.
I reminded him his wife is a school teacher.
I imagine he feels as dumb as ksuw right now.
Trash collectors work hard, too. I said smarter and work harder.
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ksuw, have you considered taking a job that pays less, in order to take advantage of the lower tax rate?
Have you considered the inherent inequity of progressive taxation?
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Don't listen to these dumb lazies KSUW.
The more successful one is at life, the more one is penalized. Makes perfect sense to me. Oh that wacky gubment :lol:
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So true
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Just imagine how many more people would be taking higher paying jobs if only the government did not disincentivize it with higher taxes. Sad!
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I'm apparently smarter and work harder than K-S-U-Dub! :Woohoo:
I make more, so that is consolation for being dumber and lazier
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Husband of a high school friend makes $300k+a year. Thinks anyone making middle income or less is lazy.
I reminded him his wife is a school teacher.
I imagine he feels as dumb as ksuw right now.
That's middle income
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How come smart people like mitt Romney and the like can pay such small effective rates and ksuw can't figure it out? :frown:
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ksuw, have you considered taking a job that pays less, in order to take advantage of the lower tax rate?
Have you considered the inherent inequity of progressive taxation?
Do you think kids that get free lunch at schools have an obligation to mop up floors, or something of the like, to show them that it isn't really a "free lunch" ?
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How come smart people like mitt Romney and the like can pay such small effective rates and ksuw can't figure it out? :frown:
It's hard out there for a HENRY. One day I'll derive most of my income from cap gains, but today is not that day.
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How come smart people like mitt Romney and the like can pay such small effective rates and ksuw can't figure it out? :frown:
It's hard out there for a HENRY. One day I'll derive most of my income from cap gains, but today is not that day.
HENRY acronym must fundamentally ill-define "rich."
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ksuw, have you considered taking a job that pays less, in order to take advantage of the lower tax rate?
Have you considered the inherent inequity of progressive taxation?
Do you think kids that get free lunch at schools have an obligation to mop up floors, or something of the like, to show them that it isn't really a "free lunch" ?
Those kids loser parents should have to mop. Great idea.
Hey, if you can't afford to feed 4 kids, maybe you shouldn't have one.
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My wife doesn't work and just spends money all day, so I save a ton on taxes but take it in the ass on lost income and credit card bills.
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there is the fake sugar dick we all know and love.
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I expect to pay a higher tax rate this year
:kstategrad:
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that's great news rusty!
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:thumbs:
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but it might end up lower because the higher income makes it easier to max out tax-advantaged retirement accounts plus there's more tax-deductible child care expenses this year. Not sure yet!
:billdance:
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Either way sounds good!
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I didn't pay any income tax this year. Feels good.
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I didn't pay any income tax this year. Feels good.
Deduct massive gambling losses?
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Educational expenses. Got all my federal income tax from working last summer back. And, it being Texas, no state income tax.
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my kinda, sorta coworker spent about an hour telling me i should incorporate myself to rape the government. i don't really want to be incorporated, but now i'm going to have to at least look into it and see if he's right.
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my kinda, sorta coworker spent about an hour telling me i should incorporate myself to rape the government. i don't really want to be incorporated, but now i'm going to have to at least look into it and see if he's right.
I've been contemplating something like that. Let me know what you find.
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Sys just isn't the same since he got all incorporated
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will do, may take me a while tho.
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That makes no sense to me unless maybe you have some kind of regular expenses that could be considered business expenses. I mean, if you have a regular job then your income is going to be taxed, so it would have to be a question of deductions either way.
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ksuw, have you considered taking a job that pays less, in order to take advantage of the lower tax rate?
Have you considered the inherent inequity of progressive taxation?
Everyone has their own opinion of taxes, but I kinda like the way the current system is structured. By making the rate higher for higher income it incentivizes people with more expendable income to do stuff with their money that benefits others. Charitable donations being an obvious one, but HSAs, 401ks, and home ownership all provide benefits to the economy. Plus you have an entire tax preparation industry that richer people are more likely to use, which creates jobs.
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That makes no sense to me unless maybe you have some kind of regular expenses that could be considered business expenses. I mean, if you have a regular job then your income is going to be taxed, so it would have to be a question of deductions either way.
i quit my regular job and apparently now have to either be a sole proprietor, an llc or an scorp.
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btw, after about 5 minutes of googling i think my sorta coworker is prolly wrong. or at least it doesn't seem worth the trouble.
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Do you have a job that exposes you to potentially substantial personal liability? No? Well, then it's probably not for you. But I will say the idea of having an llc or Corp between you and your employer does smack of liberty. 'Murica, boys...
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ksuw, have you considered taking a job that pays less, in order to take advantage of the lower tax rate?
Have you considered the inherent inequity of progressive taxation?
Everyone has their own opinion of taxes, but I kinda like the way the current system is structured. By making the rate higher for higher income it incentivizes people with more expendable income to do stuff with their money that benefits others. Charitable donations being an obvious one, but HSAs, 401ks, and home ownership all provide benefits to the economy. Plus you have an entire tax preparation industry that richer people are more likely to use, which creates jobs.
agreed
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I made some tax mistakes this year and am going to get BRUTALIZED
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congrats puni
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My wife doesn't work and just spends money all day, so I save a ton on taxes but take it in the ass on lost income and credit card bills.
Congrats on making enough so your wife doesn't need to work. It means you've made it and are no longer a paycheck to paychecker. Buy some rental property and you might get invited up to the club.
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congrats puni
its hard out there for a MENRY
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Everyone has their own opinion of taxes, but I kinda like the way the current system is structured. By making the rate higher for higher income it incentivizes people with more expendable income to do stuff with their money that benefits others. Charitable donations being an obvious one, but HSAs, 401ks, and home ownership all provide benefits to the economy. Plus you have an entire tax preparation industry that richer people are more likely to use, which creates jobs.
Pretty much agree also, although the games that get played with what is income and credits and deductions.....
Neither here nor there - national average figures for 2015 out of TaxAct: Mortgage Interest Deduction: $7,622 vs. claimed Charitable Contributions: $3,176
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I think Mrs. Wacky did ours wrong, guys. Not as cocky as before. I think she's taking me down with her. Apparently when you're married and you file separately, you can't get credit for student loan interest? Right now it's showing she gets a decent amount back and I'll be even. :dunno:
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I think Mrs. Wacky did ours wrong, guys. Not as cocky as before. I think she's taking me down with her. Apparently when you're married and you file separately, you can't get credit for student loan interest? Right now it's showing she gets a decent amount back and I'll be even. :dunno:
Why on earth would you file separately when she didn't work?
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classic wacky
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congrats on getting that AGI over the threshold for being able to take full/any student loan interest deductions wacks :thumbs:
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i post it every year but this thread is the absolute bitb for people revealing more of their personal life than they ever think about
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Wacky, my guess is (and it's really just a guess) you would probably get a return between $3k and $4k filing jointly.
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Wacky, my guess is (and it's really just a guess) you would probably get a return between $3k and $4k filing jointly.
That's what it was showing at first and then she put my stuff in and it cut it in half somehow. I think Mrs. Wacky did ours wrong, guys. Not as cocky as before. I think she's taking me down with her. Apparently when you're married and you file separately, you can't get credit for student loan interest? Right now it's showing she gets a decent amount back and I'll be even. :dunno:
Why on earth would you file separately when she didn't work?
She didn't work for like 4 months. Not sure how much that would effect it. The girl who did my taxes this year told me to files seperately. We didn't get married until June 7th. I don't know guys, I hate this stuff. :curse:
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I'll just call Jennie from Minnesota guys. She'll clear this thing up. TIA.
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i post it every year but this thread is the absolute bitb for people revealing more of their personal life than they ever think about
was thinking the same thing. will read someone's post and think, "they shouldn't have said that". but then again, the only people who see through some of that stuff are the you, me, and gordon gecko
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you know, wacky, paying a professional a couple hundred dollars to do your taxes is really worth your time
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you know, wacky, paying a professional a couple hundred dollars to do your taxes is really worth your time
Yeah, I did it last year and the year before that. Just being stingy I guess. Classic Wacky.
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you know, wacky, paying a professional a couple hundred dollars to do your taxes is really worth your time
Yes
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Or just use turbotax. It only takes about 30 minutes.
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you know, wacky, paying a professional a couple hundred dollars to do your taxes is really worth your time
Yeah, I did it last year and the year before that. Just being stingy I guess. Classic Wacky.
you're costing yourself money, that's not being stingy
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:thumbs:
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you know, wacky, paying a professional a couple hundred dollars to do your taxes is really worth your time
This X1000. It's really not even that expensive compared to the value.
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We pay about $500 for someone to file our business and personal returns. Best money I spend each year.
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My girl last year told me not to file married for 2016. Should I change that now to Married and 0 or married and 1- married dudes?
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Who are you getting advice from?
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Who are you getting advice from?
goEMAW.com - the best K-state themed tax preparation advice available for free online
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On the exemptions line, you check the box next to "yourself" and "spouse" and then type 2 in the box that says "add the numbers from above".
Is that what you mean by 0 and 1? It's 2 if so.
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Who are you getting advice from?
goEMAW.com - the best K-state themed tax preparation advice available for free online
it's almost like he's not even reading the thread
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The hr block online literally holds your hand for this stuff wackycat08. Just go there
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i'd guess wacky's taxes are super easy. there's no need to pay someone for normal taxes.
mine will be much more complicated next year, but i'll probably still do them myself. i like understanding how to do stuff.
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I have a lot of it done. probably banged out 70% of the stuff just got lazy and didn't finish and haven't logged back in since January to finish.
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Who are you getting advice from?
goEMAW.com - the best K-state themed tax preparation advice available for free online
it's almost like he's not even reading the thread
I am, just thought that would be an easy one, but I digress.
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Wacky, when you say "my girl last year told me not to file married for 2016" are you talking about for your 2015 return? Were you married in 2015?
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The problem with paying someone to do them, and maybe it's that I've not talked to the right person, but they are super stingy on deductions and expenses and such.
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Wacky, when you say "my girl last year told me not to file married for 2016" are you talking about for your 2015 return? Were you married in 2015?
Yes, my tax lady for my 2015 taxes told me that. She knew I was getting married in 2016 and said to stay single through work until 2017.
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The problem with paying someone to do them, and maybe it's that I've not talked to the right person, but they are super stingy on deductions and expenses and such.
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ditch your idiot
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Wacky, when you say "my girl last year told me not to file married for 2016" are you talking about for your 2015 return? Were you married in 2015?
Yes, my tax lady for my 2015 taxes told me that. She knew I was getting married in 2016 and said to stay single through work until 2017.
Possibly meaning your W4 status?
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I believe so.
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Wacky, when you say "my girl last year told me not to file married for 2016" are you talking about for your 2015 return? Were you married in 2015?
Yes, my tax lady for my 2015 taxes told me that. She knew I was getting married in 2016 and said to stay single through work until 2017.
What are you using for this year's return? Any software or are you just filling out a Form 1040 on your own?
And yeah, she probably was talking about your W-4 at work for tax withholding. That is different than filing status.
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Yes, Mrs. Wacky was using Turbo Tax. I'll just reach out to her, guys. I'm a big dumb animal and I don't mean to exhaust it in this thread. Thanks! :cheers:
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Just swing by an H&R branch.
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Will do.
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don't listen to the advice to do turbo tax, do listen about going to an actual professional. turbo tax will get your taxes done but you'll have no way of knowing if you got everything you should have. i mean your wackycat08 for crying out loud.
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i'd guess wacky's taxes are super easy. there's no need to pay someone for normal taxes.
Yeah, for someone in wacky's life stage and income situation, he shouldn't need to pay someone. But it's wacky so he probably should.
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The problem with paying someone to do them, and maybe it's that I've not talked to the right person, but they are super stingy on deductions and expenses and such.
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ditch your idiot
Probably should. Doubt she'd divorce me over it.
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i'd guess wacky's taxes are super easy. there's no need to pay someone for normal taxes.
Yeah, for someone in wacky's life stage and income situation, he shouldn't need to pay someone. But it's wacky so he probably should.
nailed it
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:thumbs:
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I think it's crazy to pay a pro for your taxes if you're taking the standard deduction. I itemize and use turbotax, but my deductions are simple. Basically the ones you get forms/receipts for that say "save this for your tax records."
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but then you can't big shot people who cannot afford their own accountant
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The problem with paying someone to do them, and maybe it's that I've not talked to the right person, but they are super stingy on deductions and expenses and such.
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ditch your idiot
Probably should. Doubt she'd divorce me over it.
Lol
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The problem with paying someone to do them, and maybe it's that I've not talked to the right person, but they are super stingy on deductions and expenses and such.
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You haven't found the right accountant.
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Finally did our taxes last night.
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Hello child tax credit, nice to see you again
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ksuw has like 12 kids and still complains about taxes smdh
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I did my taxes like 2 months ago now and have been reaping the rewards of my return for about a month now.
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ksuw has like 12 kids and still complains about taxes smdh
4, and I don't get the child tax credit.
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Big payday coming for me! Woohoo! Found money!
:Woot:
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We owe a crap ton this year. :lol: I swear to god I have zero clue how any of this crap works. :lol:
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You all have anything withheld?
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I put it off as long as possible. That way, I get a refund in like June and am like, "Hey, I can get another one of these in six months if I really want to." But instead of actually getting another refund six months later, I start the process all over again. What a rush.
So, I guess you can go up to three years without forfeiting any refund. So, I'm thinking about filing for both my 2014 and 2015 refunds in spring of 2016. You know, just for the hell of it. Two refunds at once!
I did not do this. Though, I have been filing later and later each year since. As it happens, I just got my 2019 refund last week. I learned that they do not do direct deposit if your refund is for a year prior to the previous year.
Maybe it would be fun to try to get my 2021 refund before I get my 2020 refund. Or maybe it would just be unnecessarily confusing for me to file that way.
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You all have anything withheld?
I need to ask what we do. Mrs Wacky runs the finances and I claim whatever she tells me to claim. We did make a large amount more than last year, plus the 8 week furlough probably messed crap up. Apparently you're supposed to withhold from your unemployment checks too? Aren't those already taxed and like, your own funds from before?
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Unemployment doesn't withold but it still counts as income, that's probably most of the discrepancy.
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You all have anything withheld?
I need to ask what we do. Mrs Wacky runs the finances
oh thank god
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:lol:
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I can confirm that Mrs. Fanman had to approve poker Venmo transfers.
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I can confirm that Mrs. Fanman had to approve poker Venmo transfers.
:lol: She venmo'd me $10 after I beat him at golf
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:D
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We owe a crap ton this year. :lol: I swear to god I have zero clue how any of this crap works. :lol:
Got killed this year too for some reason. No idea how my withholding got messed up. Noticed it a bit last year and tried to adjust. Apparently, i did it poorly. Got a penalty even. :curse:
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We owe a crap ton this year. :lol: I swear to god I have zero clue how any of this crap works. :lol:
Got killed this year too for some reason. No idea how my withholding got messed up. Noticed it a bit last year and tried to adjust. Apparently, i did it poorly. Got a penalty even. :curse:
Sorry to hear. Figured most of mine out. After having my kid in September of 2019, I forgot to claim update my W4 for 9 months and claim him. There's the hole on my end. That and the furlough garbage.
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Unemployment doesn't withold but it still counts as income, that's probably most of the discrepancy.
I can't believe they didn't exclude at least the government addition from taxable income. Lot of people going to get hammered.
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We owe a crap ton this year. :lol: I swear to god I have zero clue how any of this crap works. :lol:
Got killed this year too for some reason. No idea how my withholding got messed up. Noticed it a bit last year and tried to adjust. Apparently, i did it poorly. Got a penalty even. :curse:
Sorry to hear. Figured most of mine out. After having my kid in September of 2019, I forgot to claim update my W4 for 9 months and claim him. There's the hole on my end. That and the furlough garbage.
You still get to claim the kid.
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We owe a crap ton this year. :lol: I swear to god I have zero clue how any of this crap works. :lol:
Got killed this year too for some reason. No idea how my withholding got messed up. Noticed it a bit last year and tried to adjust. Apparently, i did it poorly. Got a penalty even. :curse:
Sorry to hear. Figured most of mine out. After having my kid in September of 2019, I forgot to claim update my W4 for 9 months and claim him. There's the hole on my end. That and the furlough garbage.
You still get to claim the kid.
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Maybe he found out it wasn't his kid. :Wha:
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SOB! :curse:
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@Katkid My poker $ is tied up for about a month or two right now. :lol:
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A couple of weeks ago, someone in Congress introduced a bill to eliminate taxes on the first $10,200 of unemployment benefits for 2020. I would wait to see if that passes before filing if you claimed unemployment.
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You all have anything withheld?
I need to ask what we do. Mrs Wacky runs the finances and I claim whatever she tells me to claim. We did make a large amount more than last year, plus the 8 week furlough probably messed crap up. Apparently you're supposed to withhold from your unemployment checks too? Aren't those already taxed and like, your own funds from before?
You should amend your return, 420seriouscat69.
https://www.cnet.com/personal-finance/stimulus-bill-unemployment-benefits-you-could-get-a-tax-break-on-your-weekly-checks/
The first $10,200 of 2020 unemployment is now tax-free.
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Thanks, Rage! Nice eye. This should help us.
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Also, good memory too!
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Technically, it still has to go back through the house and Biden has to sign it, but that's just a formality. It probably will take about a week.
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still getting a big return. probably need to adjust withholding again.
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still getting a big return. probably need to adjust withholding again.
I got a decent return and thought about adjusting but meh. Would I really put that extra money to work in a meaningful way? Probably not.
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You all have anything withheld?
I need to ask what we do. Mrs Wacky runs the finances and I claim whatever she tells me to claim. We did make a large amount more than last year, plus the 8 week furlough probably messed crap up. Apparently you're supposed to withhold from your unemployment checks too? Aren't those already taxed and like, your own funds from before?
You should amend your return, 420seriouscat69.
https://www.cnet.com/personal-finance/stimulus-bill-unemployment-benefits-you-could-get-a-tax-break-on-your-weekly-checks/
The first $10,200 of 2020 unemployment is now tax-free.
You saved us thousands, Rage. Thanks for the update. We owe you. Our ppl are on it right now. Ty! Another gE victory!
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Glad to hear it. :cheers:
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Just found out KS Gov signed an executive order stating that if you work in MO but are working from home in KS, they want your fracking money. It basically says my company should start withholding for KS instead of MO now. This all seems like a huge PIA for me and I'm prob just going to deal with it at tax time next year instead of trying to make the changes now. Everyone else I know is doing the same.
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Seems like closing a loophole more than anything. At my work we actually have to enter where we physically were when we did stuff (all on the computer) for this reason.
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It's nothing new for remote employees. I have the option to claim a refund for taxes based on our building location (county and municipal taxes) vs where I work. It's just easier to let the physical location taxes roll.
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It's nothing new for remote employees. I have the option to claim a refund for taxes based on our building location (county and municipal taxes) vs where I work. It's just easier to let the physical location taxes roll.
This is going to be my approach. it seems like a pain to manually input the time rather than just deal with it at the end of the year.
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difference of +$5100 this year for federal compared to last. weeeeeeeee
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@stevedave, do you do these things? I'm sick of getting gutted. I literally have zero idea how any of this works, but we're getting hit for Biden's childcare handout. WTF, I didn't ask for it... We need new tax people. They told us to hold out 7% last year and we still owe 5K+
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They didn’t factor in that fat raise you got. I’m sure you’re taking the standard deduction so I doubt there’s much you can do creatively here. Paying at the end of the year means the government loaned you money interest free. Don’t sweat it!
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@stevedave, do you do these things? I'm sick of getting gutted. I literally have zero idea how any of this works, but we're getting hit for Biden's childcare handout. WTF, I didn't ask for it... We need new tax people. They told us to hold out 7% last year and we still owe 5K+
You didn't get hit by "Biden's childcare handout". You just got half of what you were going to get come tax time early. Also, 7% isn't enough withholding. My withholding has been jacked too since the tax overhaul a few years ago. I normally got a bit back at the end of the year and since that change, I have owed a crap ton. I keep adjusting and hopefully have it close for this year. MO is being a dick and holding what they owe me since I didn't really work there at all last year. I did my taxes over a month ago and they still haven't paid me. :curse:
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They didn’t factor in that fat raise you got. I’m sure you’re taking the standard deduction so I doubt there’s much you can do creatively here. Paying at the end of the year means the government loaned you money interest free. Don’t sweat it!
yeah waks just find a withholding calculator and plug in your info and you'll be golden unless you spend all of next years' fat raises and bonuses
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Thanks, fellas!
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They didn’t factor in that fat raise you got. I’m sure you’re taking the standard deduction so I doubt there’s much you can do creatively here. Paying at the end of the year means the government loaned you money interest free. Don’t sweat it!
don't sweat it until you get penalized for it anyway.
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taxes, owning your home, farms...this bbs is old as crap and folks, I am loving it.
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They didn’t factor in that fat raise you got. I’m sure you’re taking the standard deduction so I doubt there’s much you can do creatively here. Paying at the end of the year means the government loaned you money interest free. Don’t sweat it!
don't sweat it until you get penalized for it anyway.
Yeah the IRS has threatened me with that but I haven’t owed taxes in like four years cause of deductions. Seems very unfair.
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Every year, man... Taxes!
(https://i.ytimg.com/vi/Nm4vxE5xY_k/hqdefault.jpg)
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My office moved to the Missouri side in the first week of '21 so I won't have to file in two states anymore which I'm pretty pumped about.
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taxes, owning your home, farms...this bbs is old as crap and folks, I am loving it.
ha, add in the kids and getting old thread. I think its time for a reboot from Essentially Flyer Talk to Essentially Dying Soon
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The good news is all of my private student loans will be paid off in the next year, so I'm fully rough ridin' erected about that!
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We owe taxes for the first time in quite a while. Both my wife and I made significantly more money last year and her employer squashed her side consulting gig removing a lot of our normal deductions.
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I haven't even started thinking about 2021. Just got my 2020 refund that I filed for six months ago.
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finally got out the basement
proud of us
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The good news is all of my private student loans will be paid off in the next year, so I'm fully rough ridin' erected about that!
incredible
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I sold company RSU's and did the "sell to cover" for taxes and I'm doing my taxes and it looks like I'm being taxed on what was sold to cover taxes. :curse:
I need a break
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I got an extension last year to give us time to sort through mrstdaver’s business stuff. Probably gonna do it again. Really easy for any of you procrastinators out there.
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I got an extension last year to give us time to sort through mrstdaver’s business stuff. Probably gonna do it again. Really easy for any of you procrastinators out there.
It is an extension of time to file, not an extension of time to pay. Just a head's up for any :kstategrad: out there looking to put off that bill due in a few weeks.
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Try to balance to get zero out and zero in. Usually get something like $150 from fed and owe something like $100 to ks. This year, they both paid me a couple hundo.
Not upset about it.
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I hate doing my taxes. Huge PITA
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I hate doing my taxes. Huge PITA
Same, after we bought a house and had kids, i started paying an accountant. My 2021 refund was so unexpected, i actually followed up with the accountant to make sure there wasn’t a mistake.
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the important part of hiring an accountant is a strict Don't Ask Don't Tell policy.
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the important part of hiring an accountant is a strict Don't Ask Don't Tell policy.
Like only give information they ask for?
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the important part of hiring an accountant is a strict Don't Ask Don't Tell policy.
Like only give information they ask for?
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well, for rough ridin' starters, why are these mother fuckers asking questions!?
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the important part of hiring an accountant is a strict Don't Ask Don't Tell policy.
Like only give information they ask for?
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well, for rough ridin' starters, why are these mother fuckers asking questions!?
The important ones, like did you have a child in 2021. But that’s all i can think of. Obviously not telling them about my fortune buried in the backyard
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like did you have a child in 2021
mind your business math magician
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A good accountant will only ask you yes or no questions and they will make it very clear which one is the right answer
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So did you have 30 kids this year or do you want to pay a shitload in taxes?
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95% of individuals taxes can easily be done by themselves via turbotax and be right.
Source: I dropped out of KSU Taxation class and changed majors
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Guys, I took accounting 101 twice. AMA.
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Getting $5700 back. That was unexpected.
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I did not enjoy filing my taxes this year.
(https://media.tenor.com/qOMj-tUxya8AAAAd/fourthumbsdown-titties.gif)
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Big rebate this year for the EV tax credit. Also getting an unexpected 30% rebate on the home charger and electrician install bill was nice. I thought that this program had expired, but no! Should get another nice chunk back next year on the additional solar panels we will have installed in the fall.
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That green/solar items are nice until you end up selling your home. No one will want to pay for that stuff, so it will be a tuff decision when the time comes.
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I did not enjoy filing my taxes this year.
(https://media.tenor.com/qOMj-tUxya8AAAAd/fourthumbsdown-titties.gif)
ugh, same.
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The federal government will be collecting $0.00 worth of income tax from my household this year.
I want to flash my crotch, Braveheart style, to uncle Sam. Flash McCrotch, hmmm there's a little je ne sais quoi with that name I do believe.
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any accountants or IRS workers here? I'm about to lose my crap. I'm trying to file an extension for a deceased person that I have no tax info on. I'm working on getting that info, but it def isn't coming by the deadline so I just need to file an extension. I've spent all afternoon and multiple calls with the IRS and I can't get anywhere. All of the extension forms require info that I just don't have right now. I'm trying to do the right thing here, but it seems impossible. Any tips?
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any accountants or IRS workers here? I'm about to lose my crap. I'm trying to file an extension for a deceased person that I have no tax info on. I'm working on getting that info, but it def isn't coming by the deadline so I just need to file an extension. I've spent all afternoon and multiple calls with the IRS and I can't get anywhere. All of the extension forms require info that I just don't have right now. I'm trying to do the right thing here, but it seems impossible. Any tips?
This is probably really bad advice, but eff paying taxes for someone who has passed. Like, just don't and see what happens.
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any accountants or IRS workers here? I'm about to lose my crap. I'm trying to file an extension for a deceased person that I have no tax info on. I'm working on getting that info, but it def isn't coming by the deadline so I just need to file an extension. I've spent all afternoon and multiple calls with the IRS and I can't get anywhere. All of the extension forms require info that I just don't have right now. I'm trying to do the right thing here, but it seems impossible. Any tips?
This is probably really bad advice, but eff paying taxes for someone who has passed. Like, just don't and see what happens.
You're right, that probably is really bad advice, if the estate is of any appreciable size.
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any accountants or IRS workers here? I'm about to lose my crap. I'm trying to file an extension for a deceased person that I have no tax info on. I'm working on getting that info, but it def isn't coming by the deadline so I just need to file an extension. I've spent all afternoon and multiple calls with the IRS and I can't get anywhere. All of the extension forms require info that I just don't have right now. I'm trying to do the right thing here, but it seems impossible. Any tips?
This is probably really bad advice, but eff paying taxes for someone who has passed. Like, just don't and see what happens.
This is probably what is going to happen at least for a while. I've talked to 2 different people at the IRS and they either have no idea what to do or they tell me to do something impossible. It enraging.
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Try calling the state department of revenue. Their answers probably will apply to your federal forms.
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Do you normally do your own taxes?
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any accountants or IRS workers here? I'm about to lose my crap. I'm trying to file an extension for a deceased person that I have no tax info on. I'm working on getting that info, but it def isn't coming by the deadline so I just need to file an extension. I've spent all afternoon and multiple calls with the IRS and I can't get anywhere. All of the extension forms require info that I just don't have right now. I'm trying to do the right thing here, but it seems impossible. Any tips?
This is probably really bad advice, but eff paying taxes for someone who has passed. Like, just don't and see what happens.
You're right, that probably is really bad advice, if the estate is of any appreciable size.
You can't put unknown qualifiers in there and say it's bad advice. I say of they want to jail that corpse in debtors prison after the estate has all been sold off and laundered, that's up to them.
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If laundering is out of your wheel house. Just spend the money on something highly depreciable, like coke.
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Because that vanishes.... Less like a fart in the wind than a balloon in a forest fire
Smash that subscribe button for more tax advice
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I would not subscribe to KITN's tax advice. Sorry, bud.
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I would not subscribe to KITN's tax advice. Sorry, bud.
But you subscribed to the SD crypto strategy, interesting.
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Steve Dave is a very good poster though
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Do you normally do your own taxes?
Yes. Tax software does all the heavy lifting.
Have you ever watched an accountant do taxes? It's just fancier software.
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any accountants or IRS workers here? I'm about to lose my crap. I'm trying to file an extension for a deceased person that I have no tax info on. I'm working on getting that info, but it def isn't coming by the deadline so I just need to file an extension. I've spent all afternoon and multiple calls with the IRS and I can't get anywhere. All of the extension forms require info that I just don't have right now. I'm trying to do the right thing here, but it seems impossible. Any tips?
This is probably really bad advice, but eff paying taxes for someone who has passed. Like, just don't and see what happens.
You're right, that probably is really bad advice, if the estate is of any appreciable size.
You can't put unknown qualifiers in there and say it's bad advice. I say of they want to jail that corpse in debtors prison after the estate has all been sold off and laundered, that's up to them.
I assumed the reason he wanted to file income taxes for the dead guy is because he’s hoping to get money FROM the government.
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any accountants or IRS workers here? I'm about to lose my crap. I'm trying to file an extension for a deceased person that I have no tax info on. I'm working on getting that info, but it def isn't coming by the deadline so I just need to file an extension. I've spent all afternoon and multiple calls with the IRS and I can't get anywhere. All of the extension forms require info that I just don't have right now. I'm trying to do the right thing here, but it seems impossible. Any tips?
This is probably really bad advice, but eff paying taxes for someone who has passed. Like, just don't and see what happens.
You're right, that probably is really bad advice, if the estate is of any appreciable size.
You can't put unknown qualifiers in there and say it's bad advice. I say of they want to jail that corpse in debtors prison after the estate has all been sold off and laundered, that's up to them.
I assumed the reason he wanted to file income taxes for the dead guy is because he’s hoping to get money FROM the government.
Nope, I'm the administrator for the estate. I have no knowledge of anything as of yet so I'm trying to get an extension until I get the info I need to file 2022 taxes. In order to get an extension, you need info and every person I talk to tells me to do something that is impossible so i've just given up and will file the taxes whenever I can. Get a will guys.
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any accountants or IRS workers here? I'm about to lose my crap. I'm trying to file an extension for a deceased person that I have no tax info on. I'm working on getting that info, but it def isn't coming by the deadline so I just need to file an extension. I've spent all afternoon and multiple calls with the IRS and I can't get anywhere. All of the extension forms require info that I just don't have right now. I'm trying to do the right thing here, but it seems impossible. Any tips?
This is probably really bad advice, but eff paying taxes for someone who has passed. Like, just don't and see what happens.
You're right, that probably is really bad advice, if the estate is of any appreciable size.
You can't put unknown qualifiers in there and say it's bad advice. I say of they want to jail that corpse in debtors prison after the estate has all been sold off and laundered, that's up to them.
I assumed the reason he wanted to file income taxes for the dead guy is because he’s hoping to get money FROM the government.
Nope, I'm the administrator for the estate. I have no knowledge of anything as of yet so I'm trying to get an extension until I get the info I need to file 2022 taxes. In order to get an extension, you need info and every person I talk to tells me to do something that is impossible so i've just given up and will file the taxes whenever I can. Get a will guys.
How are you the administrator of the estate if there wasn’t a will? Has it already gone through probate?
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Do you normally do your own taxes?
Yes. Tax software does all the heavy lifting.
Have you ever watched an accountant do taxes? It's just fancier software.
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sorry this was directed at Stupid Fitz
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any accountants or IRS workers here? I'm about to lose my crap. I'm trying to file an extension for a deceased person that I have no tax info on. I'm working on getting that info, but it def isn't coming by the deadline so I just need to file an extension. I've spent all afternoon and multiple calls with the IRS and I can't get anywhere. All of the extension forms require info that I just don't have right now. I'm trying to do the right thing here, but it seems impossible. Any tips?
This is probably really bad advice, but eff paying taxes for someone who has passed. Like, just don't and see what happens.
You're right, that probably is really bad advice, if the estate is of any appreciable size.
You can't put unknown qualifiers in there and say it's bad advice. I say of they want to jail that corpse in debtors prison after the estate has all been sold off and laundered, that's up to them.
I assumed the reason he wanted to file income taxes for the dead guy is because he’s hoping to get money FROM the government.
Nope, I'm the administrator for the estate. I have no knowledge of anything as of yet so I'm trying to get an extension until I get the info I need to file 2022 taxes. In order to get an extension, you need info and every person I talk to tells me to do something that is impossible so i've just given up and will file the taxes whenever I can. Get a will guys.
How are you the administrator of the estate if there wasn’t a will? Has it already gone through probate?
yes. If he had a will, I would be the executor of the estate and that would have been a eff load easier. Since he didn't, I had to go through the probate court to become the administrator. Also, I know its the correct term here, but calling this an "estate" is generous.
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any accountants or IRS workers here? I'm about to lose my crap. I'm trying to file an extension for a deceased person that I have no tax info on. I'm working on getting that info, but it def isn't coming by the deadline so I just need to file an extension. I've spent all afternoon and multiple calls with the IRS and I can't get anywhere. All of the extension forms require info that I just don't have right now. I'm trying to do the right thing here, but it seems impossible. Any tips?
Let me check with a guy (my mom) and I’ll IM you
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ok, nothing here private or anything so just posting instead of IM'ing. Talked to my CPA who I love like my own mother. Their advice is as follows:
1) never call the IRS for anything no matter what. they not only don't know what they are doing but they will waste your time pretending like they do and make stuff worse.
2) if you have their name, address, and SSN there is some form you can file to get that extension but I'm guessing you don't have that SSN
3) are you confident they even needed to file taxes? sounds like maybe they weren't scrooge mcduck. may not have to do anything.
4) if you believe they would have had to file and don't have the info required just do nothing right now. you can file it late but the penalty will be minimal and you should document that they are deceased and the situation when doing so and could get a pass.
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ok, nothing here private or anything so just posting instead of IM'ing. Talked to my CPA who I love like my own mother. Their advice is as follows:
1) never call the IRS for anything no matter what. they not only don't know what they are doing but they will waste your time pretending like they do and make stuff worse.
2) if you have their name, address, and SSN there is some form you can file to get that extension but I'm guessing you don't have that SSN
3) are you confident they even needed to file taxes? sounds like maybe they weren't scrooge mcduck. may not have to do anything.
4) if you believe they would have had to file and don't have the info required just do nothing right now. you can file it late but the penalty will be minimal and you should document that they are deceased and the situation when doing so and could get a pass.
Thanks SD, give your accountant a kiss from me and tell her thank you. Option 4 is really my only option. The form you are referring to in 2) requires info like "estimated taxes owed" and other stuff I don't have. I've tried to fill out that form 10 times and I can't ever submit it anywhere because info is missing and I don't want to make stuff up. It is what it is at this point.
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ok, nothing here private or anything so just posting instead of IM'ing. Talked to my CPA who I love like my own mother. Their advice is as follows:
1) never call the IRS for anything no matter what. they not only don't know what they are doing but they will waste your time pretending like they do and make stuff worse.
2) if you have their name, address, and SSN there is some form you can file to get that extension but I'm guessing you don't have that SSN
3) are you confident they even needed to file taxes? sounds like maybe they weren't scrooge mcduck. may not have to do anything.
4) if you believe they would have had to file and don't have the info required just do nothing right now. you can file it late but the penalty will be minimal and you should document that they are deceased and the situation when doing so and could get a pass.
Thanks SD, give your accountant a kiss from me and tell her thank you. Option 4 is really my only option. The form you are referring to in 2) requires info like "estimated taxes owed" and other stuff I don't have. I've tried to fill out that form 10 times and I can't ever submit it anywhere because info is missing and I don't want to make stuff up. It is what it is at this point.
Might be worth it to file an extension. This is not legal advice, but you can just estimate it. If you're too far off, you can make up the difference later. If you have an idea how much he "earned" last year, you can just look at the tax tables and multiply by .22, for example (talking federal taxes, here).
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ok, nothing here private or anything so just posting instead of IM'ing. Talked to my CPA who I love like my own mother. Their advice is as follows:
1) never call the IRS for anything no matter what. they not only don't know what they are doing but they will waste your time pretending like they do and make stuff worse.
2) if you have their name, address, and SSN there is some form you can file to get that extension but I'm guessing you don't have that SSN
3) are you confident they even needed to file taxes? sounds like maybe they weren't scrooge mcduck. may not have to do anything.
4) if you believe they would have had to file and don't have the info required just do nothing right now. you can file it late but the penalty will be minimal and you should document that they are deceased and the situation when doing so and could get a pass.
Thanks SD, give your accountant a kiss from me and tell her thank you. Option 4 is really my only option. The form you are referring to in 2) requires info like "estimated taxes owed" and other stuff I don't have. I've tried to fill out that form 10 times and I can't ever submit it anywhere because info is missing and I don't want to make stuff up. It is what it is at this point.
Might be worth it to file an extension. This is not legal advice, but you can just estimate it. If you're too far off, you can make up the difference later. If you have an idea how much he "earned" last year, you can just look at the tax tables and multiply by .22, for example (talking federal taxes, here).
yeah, i've sort of tried that. One of the free government tax providers is something called "Tax Slayer" and I got through most everything by basically putting zeros in and when I hit submit, it told me that I wasn't eligible to submit it through them and I about lost it. Thanks for the advice, but i'm sticking with option 4 and if the IRS wants to come after the small estate of a dead person, so be it.
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This is why I plan to die with as much debt as possible and zero estate
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This is why I plan to die with as much debt as possible and zero estate
Spoken like a true boomer.
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This plan was suggested to me by the boomer executor of my "estate"
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What’s your target debt load? Can you run that bitch up to 3M?
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Lol absolutely not. Maybe $100k if I really go all out. Obviously one of the challenges is not adding estate value, though I suppose it doesn't matter because it's all getting confiscated anyway.
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Oh, boa wants to loan me a bunch of money to go on a month long euro trip? Thanks but you're never getting that money back ahahahaha
It's a little bit the wackycat with student loans approach.
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The lending environment has shifted quite a bit in the past year. I bet you could have done 300k 12-18 months ago but it’s a lot tighter now.
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Oh, boa wants to loan me a bunch of money to go on a month long euro trip? Thanks but you're never getting that money back ahahahaha
It's a little bit the wackycat with student loans approach.
eff 'em, I say.
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Well wetwillie, circumstances have changed pretty dramatically for 'ol seven in the past 12 months.
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Also I don't know if I actually have the moral failings to pull this off.
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Well wetwillie, circumstances have changed pretty dramatically for 'ol seven in the past 12 months.
Yea sorry buddy :frown:
I hope you get to go mid 90’s Jordan on the BOA and the like
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Idea: enrolling at kats for student loans
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Probably needs it's own thread to really get the gE hive brain working
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The lending environment has shifted quite a bit in the past year. I bet you could have done 300k 12-18 months ago but it’s a lot tighter now.
banks will get all slutty again