Tax deadline (in the USA)

[dbattman 0]

TurboTax totally rocks. It will step you through everything and fill out all the forms. State tax software is free with purchase of federal software. Online federal filing is free. You'll end up paying about $40 to fill out and electronically file all of your tax forms.

Uncle Sam was kind enough to help himself to over $17,500 of my hard earned money this year. $9070 of that chunk disappeared down the Social Security/Medicare black hole and ended up as a Federal Government IOU in a filing cabinet somewhere. Gee, that makes all the business travel trips and nights staring at a hotel wall totally worth it. I just get a warm fuzzy at tax time.

Instead of thinking "I have to pay $500 this year" or "I don't have to pay taxes, I'm getting money back" look at the bottom line. The time has come for a scrap and overhaul of the whole damn thing.

[SpeedRacer 1]

Yeah it always amuses me when you see people being all happy because they got a refund...Whose money was it in the first place??

And then a year ago when the IRS gave everyone $200 dollars refund, people were SO happy. And then everyone wondered why they had to pay more when April 15 rolled around.

Speed Racer
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[FliegendeWolf 0]

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Yeah it always amuses me when you see people being all happy because they got a refund...Whose money was it in the first place??

Yeah, but who has the discipline to put away the amount of money they might get in a refund? It's still your own money, but consider it a rainy-day fund that does not earn interest.

My money or not, it's nice to get a lump sum that I can feel free to do with what I please.

A One that Isn't Cold is Scarcely a One at All

[wmw999 2,121]

I haven't done online filing, but I used TurboTax for years, and just switched to Tax Cut this year. Both are fine for my purposes, and pretty easy to use. For me the advantage is having the program force me to look at everything, since I tend to want to "jump to the good stuff." I'm not real detail-oriented. That's not necessarily the smartest thing to do with taxes.

Wendy W.

There is nothing more dangerous than breaking a basic safety rule and getting away with it. It removes fear of the consequences and builds false confidence. (tbrown)

[lummy 4]

same here, I've used Turbo Tax on the web for the last 3 years. The hardest part is remembering what my username and password is from the year before ;) Seriously, It is just as easy as the software version and at the end, I have the option to file electronically and I'm done... If you use it before MAr30th, it's a little cheaper than actually buying the software

I promise not to TP Davis under canopy.. I promise not to TP Davis under canopy.. eat sushi, get smoochieTTK#1

[BikerBabe 0]

We use Turbo Tax all the time, except this year ours was so complex we actually did it by hand first.

My hubby just finished them about an hour ago, and our refund is, well, rather exorbitant, to put it nicely. We're bound to be audited, based on our income vs. our deductions. I can already see all the red flags raiseing at the IRS... You'd think I'd be happy about a 5-figure tax refund, but I'm not. That's a lot of money that could have been used to pay off debts or invest somewhere...

It's hard to determine how much to have taken out of our pay in order to avoid this since we started our own business last year and incurred a lot of expenses from that. Tomorrow, though, I'm going to the personnel office to have them reduce the taxes they take out.

If you do get a big refund consistently, talk to your employer, they can help you balance it out.

Never meddle in the affairs of dragons, for you are crunchy and taste good with ketchup!

[PLFXpert 0]

I must be the only one who files in February.

For those who haven't tried it; I filed online, got my return two weeks later deposited directly to my account. It cost $15 and it was SO WORTH IT! Quick & easy! I even had missed one payment I made and they caught it and added it to my return.

I definitely recommend the filing online system.

[PhillyKev 0]

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Anyone ever try online filing??

I just did my taxes on paper. The IRS website has an option for FREE online filing, but I don't qualify for it (you have to use the 1040 EZ form, but I can't because I'm a homeowner & so I itemize my deductions). Then they have all these links to private companies that have tax software, but I think they all cost money to use, so this year, I'm gonna do it the old-fashioned way & mail it in.

But for next year, I might splurge. Can anyone recommend good tax software? Did anyone file online, and how did it go?

TaxAct has a free version. I used it (back in February )

Also, if you do buy tax prep software and you itemize, it's deductible.

[chicagoskydiver 0]

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BTW, you can file for an extension (which you are almost guarenteed to get) if you don't feel like cutting a check right away.

You can always file for an automatic extension and get it, no questions asked (it's automatic...all you have to do is ask). But it's an extension of the time to file the return, they don't give you any extra time to pay the tax. If you think you're going to owe, you have to estimate the amount and send it in with the request for the extension. If not, later they will hit you with a penalty for paying late. Also, if you are substantially underpaid (meaning you owe a lot) you could also have a penalty for underpayment of taxes even if you file and pay on time. The ideal situation is to try to come as close to breaking even as possible.

I'm a CPA, I'm pretty sure about this stuff.

Hackey

[Guest]

Forsooth! hehehe

I knew it was in Matthew in the NIV, but it sounds so much cooler in the KJV, I couldn't resist.

"The mouse does not know life until it is in the mouth of the cat."