The Tax Thread - 2011

Serious Business Backup 33 replies 1,472 views
majorspark's avatar
majorspark
Posts: 5,122
Jan 25, 2011 12:08am
LJ;650781 wrote:I hope to owe ~$100

I can't file till mid Feb due to Schedule C issues

I file a schedule C every year. Just starting to get fully into my tax situation this weekend. What schedule C issue are you talking about? Is it something pertaining to you personally (if so I don't need to know)? If not fill me in. I a m hoping to get everything in order by the end of the month.

Every tax year I straddle the fence on owing a small amount and receiving a small amount. I don't give the feds free loans.
LJ's avatar
LJ
Posts: 16,351
Jan 25, 2011 12:13am
majorspark;651824 wrote:I file a schedule C every year. Just starting to get fully into my tax situation this weekend. What schedule C issue are you talking about? Is it something pertaining to you personally (if so I don't need to know)? If not fill me in. I a m hoping to get everything in order by the end of the month.

Every tax year I straddle the fence on owing a small amount and receiving a small amount. I don't give the feds free loans.

I meant schedule A, which will impact a lot of people. It's because of the tax law passing late.
hoops23's avatar
hoops23
Posts: 15,696
Jan 25, 2011 12:17am
I'm getting the most back this year than I have ever gotten, thanks to my 9 month old.

It's welcome money though, as most of it is going to her needs now and a portion of that is also going into her "Disney fund"...
F
Fred Flintstone
Posts: 366
Jan 25, 2011 7:55am
I'll be paying for the first time. I am usually about even and get a little back but this year I will be dealing with capital gains and paying the taxes on them.
J
jmog
Posts: 6,567
Jan 25, 2011 11:19am
I think I am going to owe close to $1000...and I'm ok with that...means my savings account grew by at least $1000 more this year than it would have ;).
j_crazy's avatar
j_crazy
Posts: 8,372
Jan 29, 2011 8:09pm
i'm still waiting on things to come in for us to be ready. this is the worst part, waiting. I hate waiting until late to do them.
iclfan2's avatar
iclfan2
Posts: 6,360
Jan 29, 2011 8:59pm
Just looked at mine. I should be getting about $1700 back for federal and $100 for state (State seems low but oh well). This is the first year I have worked a full time job for the complete year and DAMN does the government take a lot of my monies. 1/5 of your income going to the government is crazy to me so I don't know how those of you making real money can even look at your taxes. (And yes I know getting back so much is dumb, but until the Bernank quits holding interest rates hostage it really isn't hurting me b/c as an accountant I am too risk averse to play around in the market yet anyway.)
J
June18
Posts: 298
Jan 29, 2011 11:02pm
Just did mine on Turbo tax. Getting about $4k back. Good for a vegas trip in March.
j_crazy's avatar
j_crazy
Posts: 8,372
Jan 31, 2011 8:50pm
I'm ashamed at what I'm getting back. I even decreased my withholding (after getting like 8K back in 2009) and still i'm getting a lot back (like 3% of my AGI). I paid the extra cash to have a tax pro look at my turbo tax thing to make sure I'm good, I did this because I'm a n00b at doing my own taxes.