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Honored Contributor
Posts: 8,822
Registered: ‎07-15-2016

Sigh of relief ... did my taxes!

I don't know why I don't do these sooner.  Before Turbo Tax  - when I did them "by hand" they'd be done in early February.

 

Anyway .... finished them at TT five minutes ago.  No much of a refund ... but better then owing.

 

 

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Honored Contributor
Posts: 12,704
Registered: ‎08-22-2013

Re: Sigh of relief ... did my taxes!

My husband did and finished our taxes today, by hand of course. His motto for taxes is, keep it simple stupid. LOL easy for him to say!

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Esteemed Contributor
Posts: 5,627
Registered: ‎12-24-2010

Re: Sigh of relief ... did my taxes!

 My hat is off to anyone who does their own taxes.  I'm waiting for CPA to call to see if I owe more........estimated chunk  has been paid in every quarter but there's always a balance still due.

Can't wait to get it behind me.

Hmmm waiting for that phone call

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Honored Contributor
Posts: 12,704
Registered: ‎08-22-2013

Re: Sigh of relief ... did my taxes!

@fthunt  my son is in business for himself and only needed a CPA at the beginning. He just followed what the accountant did after that and has not been called in for an audit yet. My son is super thrifty and did not like paying the accountant hundreds of dollars to do what he felt he could do himself.

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Esteemed Contributor
Posts: 5,627
Registered: ‎12-24-2010

Re: Sigh of relief ... did my taxes!

@blackhole99   I'm not very smart.....and CPA has kept me out of jail so far......so he's earned his money.  He will provide a bound book showing all the depreciation items taken back years ago and going forward and file electronically.  It will be nice to wrap it up.

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Honored Contributor
Posts: 17,815
Registered: ‎07-03-2013

Re: Sigh of relief ... did my taxes!

You can come over and help me.  I have always done it early February.  I can't seem to get it in gear this year.  I'm not even totally sure I have everything.  When the mail came, I just stuck it away.  😳 .Guess I have homework when I get home from work this week.

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Honored Contributor
Posts: 28,270
Registered: ‎03-12-2010

Re: Sigh of relief ... did my taxes!

I always give the information to my daughter who goes over the paperwork, then she OK's it and then I hand carry it to the accountants.

 

I'm not finished!  Ha!  Then they always file an extension, always.  But the rule is you pretty much have to have done the taxes AND pay the amount due.

 

This has been going on for years.  Here we go.

 

My friend said she had to pay $1,000 in Federal.  

 

I think it's stupid anyone would have to pay taxes on the Social Security they get.

 

I once saw a video of how many times a one dollar bill was taxed.  Unbelievable.

 

It's going to be worse next year because the guy that handles the investments said I had to take money out of the IRA.

 

Good grief!  It never ends!

 

There must be a lot of people who never pay any taxes because during the day all I see on TV are personal injury lawyers and people who work with the IRS and have you pay way, way less than you owe in back taxes.

 

I know there's a postal employee where I go and he brags out loud that he owes tons of money in taxes.  He says he has never paid taxes.  He must be in his mid to late 40's.

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Honored Contributor
Posts: 11,796
Registered: ‎03-09-2010

Re: Sigh of relief ... did my taxes!

@AnnabellethecatNot paying is all well and good -  as long as you are immoral and don't mind making someone else pay your share -  and as long as you aren't wearing new tighty whities the day the agents walk into your business and close you down.

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Honored Contributor
Posts: 28,270
Registered: ‎03-12-2010

Re: Sigh of relief ... did my taxes!

Well, it's surprising how many people don't pay.  There are times in everyone's life when they can make excuses to themselves about why they do or don't do things.

 

I guess many people are willing to live with that.

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Esteemed Contributor
Posts: 5,980
Registered: ‎02-22-2015

Re: Sigh of relief ... did my taxes!

Had my taxes done on Thursday. Was prepared for the absolute worst. Found out mom's Trust had been taxed and paid out of her estate before I received my inheritance. (If I'd read through the documents a few months ago, I would have noticed that! But I did not.)

 

Anyway, I was pleasantly surprised that my taxes were higher, of course, due to the earnings received from her money. My broker is doing a fabulous job of making that money earn more money for future generations, which is my goal. I'm fine with paying additional taxes.

 

What I do NOT like is having to cash in the MRD's from IRA's (which didn't get completely rolled into Roth's), retirement funds from previous employment, 401-K's, etc. What gives the government the right to tell us we must cash those funds in at 70 1/2?? I have a lot of years left before I plan on taking anything out of any of those funds. They were fine where invested!

 

Guess I'll speak with my financial advisors about simply moving those funds over to my broker or a tax-deferred account for safe-keeping, which will continue to earn a nice profit.