Tax Season

Talk about anything non-hockey related.
NTP66
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Tax Season

Post by NTP66 »

dodint wrote:Source of the post If i had multiple heirs I would have a will, and a policy that funds the estate during the early part of administering the estate.
We only have one, but I still wanted a will and trust so that as much as possible would already be taken care of.
MrKennethTKangaroo
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Tax Season

Post by MrKennethTKangaroo »

LITT wrote: Wed Apr 15, 2015 12:31 pm What do accountants due from May - December
Not going to name names, but a certain, unnamed CPA is preparing his tax return on 9:52 on October 15 :? :? :face:
willeyeam
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Tax Season

Post by willeyeam »

Bro
mikey
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Tax Season

Post by mikey »

I just did my 2017 taxes last night too...2016 are still not quite done yet...I am developing a very spotty track record with the IRS...
mamaemeritus
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Tax Season

Post by mamaemeritus »

F that. Mine get done as soon as I have my stuff. This usually ends up working out nicely, since all of my clients wait til the last. damn. minute. EVERY YEAR.
dodint
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Tax Season

Post by dodint »

I forgot that PA is the only state I've lived in that has municipal taxes. I have to cut a several hundred dollar check to Shaler, whom I already give hundreds of dollars a month in property taxes. Lame.
count2infinity
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Tax Season

Post by count2infinity »

Owed over 2k last year, got $800 back this year. Thanks, Trump!!!
i actually have no idea if his stuff had an effect on us. We changed our withholdings and had a kid who is in daycare. So all that combined made a return rather than owing.
mac5155
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Tax Season

Post by mac5155 »

I do think the kid thing probably helped. I got a lot more this year than last.
MrKennethTKangaroo
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Tax Season

Post by MrKennethTKangaroo »

count2infinity wrote: Mon Apr 08, 2019 12:40 pm Owed over 2k last year, got $800 back this year. Thanks, Trump!!!
i actually have no idea if his stuff had an effect on us. We changed our withholdings and had a kid who is in daycare. So all that combined made a return rather than owing.
did you actually look at the line on your tax return that says TOTAL TAX and compared it to last year

it is a pet peeve when people talk strictly about refund and not about actual liability. I get that refunds have a strong mental influence, but come on people.
Beveridge
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Tax Season

Post by Beveridge »

MrKennethTKangaroo wrote: Mon Apr 08, 2019 2:17 pm it is a pet peeve when people talk strictly about refund and not about actual liability.
That bugs me too. I still do returns for some family members now that I'm out of the tax business, and I made sure to print them a comparison page that showed tax line and effective tax rate. I got to use it for every single person because the first comment out of their mouth was "why did my refund go down and not up?".
CBear3
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Tax Season

Post by CBear3 »

Wife's first full year at her new job after a $15k raise, I moved jobs and left my $18k 401k loan on the hook as a distribution, so my taxes doubled from $8k to $16k. How much did I plan? Not close to enough. Tax payment plan here I come.
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Tax Season

Post by dodint »

My sister did me a big favor. She's an accountant who works for a firm. She offered to do our taxes when we ran into heavy liability due to the 1099-R from my wife's inheritance. We set aside the money to pay the tax so it wasn't a big deal from that perspective, but my sister did the research and found out that type of disbursement is not taxable in PA even though TurboTax and every other source I could find had us on the hook for it. Very cool, went from owing $5,000+ to getting $160 back from PA. Very nice.
Lemon Berry Lobster
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Tax Season

Post by Lemon Berry Lobster »

Lit
count2infinity
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Tax Season

Post by count2infinity »

MrKennethTKangaroo wrote: Mon Apr 08, 2019 2:17 pm
count2infinity wrote: Mon Apr 08, 2019 12:40 pm Owed over 2k last year, got $800 back this year. Thanks, Trump!!!
i actually have no idea if his stuff had an effect on us. We changed our withholdings and had a kid who is in daycare. So all that combined made a return rather than owing.
did you actually look at the line on your tax return that says TOTAL TAX and compared it to last year

it is a pet peeve when people talk strictly about refund and not about actual liability. I get that refunds have a strong mental influence, but come on people.
I did. Stayed about the same. I just paid slightly more through the year and had a kid which resulted in a return instead of owing.
mikey
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Tax Season

Post by mikey »

Still fighting the IRS over my 2016 return...so I'll probably file an extension again this year...
mac5155
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Tax Season

Post by mac5155 »

Beveridge wrote: Mon Apr 08, 2019 2:24 pm
MrKennethTKangaroo wrote: Mon Apr 08, 2019 2:17 pm it is a pet peeve when people talk strictly about refund and not about actual liability.
That bugs me too. I still do returns for some family members now that I'm out of the tax business, and I made sure to print them a comparison page that showed tax line and effective tax rate. I got to use it for every single person because the first comment out of their mouth was "why did my refund go down and not up?".
My tax bill was $6,367 less this year than last. Guess that explains the ~$4k increase in 'return'. Amount paid was within $100 each year.

I don't know how (or why) it would've gone down other than the standard deduction change + child tax credit. Which would be about $5k I guess.
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Tax Season

Post by willeyeam »

Image
MrKennethTKangaroo
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Tax Season

Post by MrKennethTKangaroo »

did you culturally appropriate my use of today was a good day as the official april 15th end of tax season theme
willeyeam
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Tax Season

Post by willeyeam »

MrKennethTKangaroo wrote: Mon Apr 15, 2019 10:02 am did you culturally appropriate my use of today was a good day as the official april 15th end of tax season theme
Why yes I have
dodint
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Tax Season

Post by dodint »

My wife just left with four envelopes to be mailed. Doing my MILs last tax return with one pay period on it was a bigger headache than my own taxes.
MrKennethTKangaroo
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Tax Season

Post by MrKennethTKangaroo »

willeyeam wrote: Mon Apr 15, 2019 10:09 am
MrKennethTKangaroo wrote: Mon Apr 15, 2019 10:02 am did you culturally appropriate my use of today was a good day as the official april 15th end of tax season theme
Why yes I have
my man
Factorial
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Tax Season

Post by Factorial »

Lemon Berry Lobster wrote: Thu Apr 12, 2018 8:39 am Oh look, second year in a row I owe $695 to the government because I didn't have health insurance.
Do they still make you pay this?
Lemon Berry Lobster
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Tax Season

Post by Lemon Berry Lobster »

Factorial wrote: Mon Apr 15, 2019 10:53 am
Lemon Berry Lobster wrote: Thu Apr 12, 2018 8:39 am Oh look, second year in a row I owe $695 to the government because I didn't have health insurance.
Do they still make you pay this?
I had insurance this year, otherwise I would have had to. The lady that did my taxes said this will be the last year they are able to fine you.
Factorial
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Tax Season

Post by Factorial »

Lemon Berry Lobster wrote: Mon Apr 15, 2019 11:01 am
Factorial wrote: Mon Apr 15, 2019 10:53 am
Lemon Berry Lobster wrote: Thu Apr 12, 2018 8:39 am Oh look, second year in a row I owe $695 to the government because I didn't have health insurance.
Do they still make you pay this?
I had insurance this year, otherwise I would have had to. The lady that did my taxes said this will be the last year they are able to fine you.
It will probably be back in 2020 if Trump used an executive order to get rid of it.
NTP66
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Tax Season

Post by NTP66 »

Doubtful. I'm told that we're going to be getting the best healthcare brought to us by the smartest people in 2020.
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