Taxes

Uncle is CPA, he has all of our stuff in in database, buy them dinner afterwards.

Side business with deductions that need more than my expertise.

Turbo Tax............usually a couple of days before 4/15 ........ hope some day the IRS is a thing of the past.

My wife takes care of ours. The concept of income taxes makes me angry so it's best that I don't do it.

posted by Commander of Awesome

If you hire someone, why?

I did mine when I was single.  I now have a rental, a farm property, kids, wife who has side jobs, etc.  First year with a rental, I did my taxes myself, and I felt like I was screwing up.  Took them to a professional, and she increased my return by over $1,000.  Easy decision. 

posted by like_that

I use turbotax and do them mid feb/early march.  I have them done by then, but submit the taxes on the April due date.  It normally takes until the first or second week of feb for me to have all my forms and I use turbotax for the self-employment feature since I ref and have to itemize everything for my 1099. 

Why do you wait so long to submit?

posted by ernest_t_bass

Why do you wait so long to submit?

Sticking it to the man.

posted by ernest_t_bass

Why do you wait so long to submit?

Just like gut, I typically owe money in federal taxes. 

posted by justincredible

My wife takes care of ours. The concept of income taxes makes me angry so it's best that I don't do it.

How would you pay for roads!? 

Our friends my mother is a cpa, so she does our for around $150. Mortgage, wife’s investments and mine. Plus all my per diem and write offs from traveling for work. I tried it on Turbo Tax the year we got married and almost broke my laptop out of anger after about an hour.

Used Turbo when I was single, and then did my wife’s when before we were married. But once we married it was too much for me lol

Do my own.  Finish them in early February.  File right away on years I get a return. Wait until April 15 on years I owe.

posted by Commander of Awesome

 

If you hire someone, why?

Because I'm not as smart as you, apparently.

I do like to wait, though, to "stick it to the man".

posted by BRF

Because I'm not as smart as you, apparently.

 

Well... yeah.

I filed mine the first of the month with HR Block and already have both returns back. Married, renting, both had two jobs, but not much else to include at this point.

I did mine online using TurboTax at the start of the month and got both Fed and State refunds back Friday. 

Got the first pass done last weekend, will double check them this weekend and get them in. I'm probably 3-4 weeks ahead of my usual.

I'm sure I'll get around to them in April or so. Shit like that isn't my top, second or umpteenth priority on any given day, since I owe federal and what I get back state-wise doesn't remotely cover that.

posted by Automatik

Btw, I use FreeTaxUSA.

Cost a whole $11.65.

I didn't try FreeTaxUSA, but I went through the process using TaxSlayer (the highest rated of the cheaper tax programs on NerdWallet) and TurboTax today. TurboTax ended up getting my ~$400 more back in my return (SMH at myself, I need to update my deductions). So it was worth paying the extra $$$ for turbotax. Each took me ~45 min or so on Turbo Tax and ~15 min on TaxSlayer.

I'm single, don't own a home but I do have a complicated situation. I was worried I was going to get fucked by AMT but thankfully I didn't, and looks like starting in 2018 roughly only 4% of ppl who had to pay AMT in 2016 would have to pay.

Does the tax reform still have the alpaca tax loophole?  A former coworker of mine did it. 

posted by like_that

Does the tax reform still have the alpaca tax loophole?  A former coworker of mine did it. 

I don't know what this is, is it a well known hole?

posted by Commander of Awesome

I don't know what this is, is it a well known hole?

They do it all over Florida, too.  Put a few cows to graze on your land and then get favorable tax treatment classifying it as a farm.  You don't even have to own the cows!

But they are state property tax deductions, meaning if you lower your state property tax you were actually paying MORE federal tax.  Not sure why a Senator is whining about this, especially now that your total state tax deductions are capped at $10k.