The Taxes Thread

The Taxes Thread

PostBy: coaledsweat On: Fri Mar 10, 2017 7:04 pm

So I'm doing my taxes. Figured everyone else is probably going to be doing theirs and we can chat about it here. I use H&R BLOCK, pretty easy and I'm doing a bunch for other family members.

Tip #1: Just avoid the healthcare questions if you or a dependent didn't have full coverage. It won't calculate the penalties unless you set yourself up for them.

Thanks Trump! :)
coaledsweat
 
Stoker Coal Boiler: Axeman Anderson 260M
Coal Size/Type: Pea


Re: The Taxes Thread

PostBy: joeq On: Fri Mar 10, 2017 7:10 pm

My wife started doing ours, about a week ago. (she's faster than me :oops: ) We got raped lasted year, cause the kids got jobs, and are claiming themselves. Worried about this years returns.
joeq
 
Hand Fed Coal Stove: G111, Southard Robertson
Stove/Furnace Make: Thermopride
Stove/Furnace Model: oil fired

Re: The Taxes Thread

PostBy: Rob R. On: Fri Mar 10, 2017 7:39 pm

Filed mine last weekend. Been using Turbotax since 2008.

Have to pay in a couple grand. :mad:
Rob R.
 
Stoker Coal Boiler: EFM DF520
Hand Fed Coal Stove: Hitzer 50-93
Coal Size/Type: Lehigh Rice
Other Heating: Dad's 1953 EFM Highboy

Re: The Taxes Thread

PostBy: coaledsweat On: Fri Mar 10, 2017 7:55 pm

I hate when that happens.
coaledsweat
 
Stoker Coal Boiler: Axeman Anderson 260M
Coal Size/Type: Pea

Re: The Taxes Thread

PostBy: coalder On: Fri Mar 10, 2017 8:45 pm

Have an accountant do mine les than $ 200.00. Kirsten & I are both retirees & I get SSI along with our pensions. Not many deductions still got back 3K. IMHO it pays for professional services.
Jim
coalder
 
Hand Fed Coal Boiler: harman sf 160
Coal Size/Type: Nut
Other Heating: wood parlor stove

Re: The Taxes Thread

PostBy: Rob R. On: Fri Mar 10, 2017 9:07 pm

coaledsweat wrote:I hate when that happens.


Me too. My wife and I have not had a "normal tax year" in 3 years. Between her having 3 different jobs in two different states, a lump sum last year that was taxed at a very high rate, and a drop in deductions this year, it has not been simple to plan. I hate giving the govt. a free loan, so I usually target to have a refund of couple hundred dollars. They got me this time, but I am making adjustments for 2017.

coalder wrote:Have an accountant do mine les than $ 200.00. Kirsten & I are both retirees & I get SSI along with our pensions. Not many deductions still got back 3K. IMHO it pays for professional services.
Jim


Your taxes should be simple if the deductions are minimal and stable. Did your accountant suggest any changes in withholdings for 2017?
Rob R.
 
Stoker Coal Boiler: EFM DF520
Hand Fed Coal Stove: Hitzer 50-93
Coal Size/Type: Lehigh Rice
Other Heating: Dad's 1953 EFM Highboy

Re: The Taxes Thread

PostBy: coalder On: Fri Mar 10, 2017 9:19 pm

No, I shut my business down last year, but had 4K in dental expenses which was told are tax deductible. All these hidden deductions are why I feel a competent tax preparer is well worth the money.
Jim
coalder
 
Hand Fed Coal Boiler: harman sf 160
Coal Size/Type: Nut
Other Heating: wood parlor stove

Re: The Taxes Thread

PostBy: davidmcbeth3 On: Fri Mar 10, 2017 9:39 pm

I once had the fed IRS claim I did not file like 10 yrs before.

I sent in all the paperwork, including the cancelled check for the payment I had to make. No go, they said only a filed stamped copy would suffice. I decided to appeal. Asked for all the records that they had and got everything back except that cancelled check (which is pretty strong evidence I filed and paid, right?). Then I filed a civil suit against the IRS agent who tossed my cancelled check into the trash (filing in small claims that got removed to federal court). The judge was not happy with the IRS I can tell you and several times admonished the US attny handling the case. We settled with a statement saying that I did indeed file. The state then came to me and said that the feds stated that I did not file (during time period of civil case winding about) ... I sent them the exact same ppwk as I sent the feds...the state said that the feds were crazy and that I certainly provided ample proof of filing and the state dropped its demands.

So now, I always send in my taxes with a copy and SASE to send back their filed stamped copy. For both state and fed returns.

Remember, no statue of limitations for non-filers. In my instance the fed's wanted $250 but the later state demand was $10K (I paid qrtly to the feds ~ hence the disparity).
davidmcbeth3
 
Coal Size/Type: nut/pea/anthra
Stove/Furnace Make: Hitzer
Stove/Furnace Model: 503