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Tax Time!

Fierce Critter

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Fierce Critter Newbie

Fierce Critter

Posted
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Share your comments/questions/etc. regarding taxes, won't you?

I was dreading doing ours this year. Oh, federal is easy. We don't do any itemization. But state was going to be a bitch - we have to file both Michigan and North Carolina. And North Carolina's forms look like they were written by some sadistic mensa-level bureaucrat. They're obnoxiously complicated.

But the IRS discontinued Tele-File this year, and there are lots of sources online now to file free of charge, so there's no need to buy software. And the site I'm using - I think it's called TaxAct - does state forms for $12.95. It's worth it for me this year to pay that and avoid the headache, even if I have to pay $12.95 times 2 due to filing in 2 states.

I'm very happy - and quite surprised - to report we're getting a nice refund this year. We rarely get much more than $200. We're not getting $1,000, but I'm happy with the figure I'm seeing.

Of course, that's going right to a bankruptcy lawyer. But at least then we'll finally have THAT taken care of. :doh

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ManicQueen Newbie

ManicQueen

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I went to H & R Block last week. That was the first time I had my taxes done by someone else. Normally, I use Turbo Tax software and do them myself.

I'm very happy I went. The lady that did mine found that I qualified for 5 different tax credits so I'm happily awaiting a check for over $6,000 and an additional $700 from 2004. Hopefully my check will come in this week.

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n0Mad Collaborator

n0Mad

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I've always done my own taxes with no software. Just me, the forms, the little booklet you get at the library, and a pencil. But then I actually licensed my company last year so I had to fill out a Schedule C so I went ahead and hired an accountant. He knows my dad so he cut me a huge deal. I've got a whole pile of paperwork from him I need to fill out for this year. Plus, I still need to go through all my company's income and expenses and see what kind of profit or loss I'm declaring. Probably a loss.

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Steven Newbie

Steven

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anybody familiar with "homesteading"?

I'm doing my taxes now, and for MI they asked if I lived in my home (I own it) for a year, which I did, and then asked me how much I paid in taxes, which I input, which then resulted in a large jump in what I'm getting back from state....originally less than 300 and now its jumped up to around 1400...... I must admit I did not completely understand the concept...any one have some insight???

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saechalyn Newbie

saechalyn

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Posted

I WISH....

Let me guess. Single no children and zero legal income?

I have to deal with Wife, kids, 401k withdrawals, unemployment yah dah dah dah dah. raza fragin magin tagit

<{POST_SNAPBACK}>

Not quite. Single, no kids, don't own a house, I do have income but it's all from one job that I held all year, so one W-2, no mess.

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Lilith Newbie

Lilith

Posted
Posted

anybody familiar with "homesteading"?

I'm doing my taxes now, and for MI they asked if I lived in my home (I own it) for a year, which I did, and then asked me how much I paid in taxes, which I input, which then resulted in a large jump in what I'm getting back from state....originally less than 300 and now its jumped up to around 1400...... I must admit I did not completely understand the concept...any one have some insight???

<{POST_SNAPBACK}>

just do a happy dance, its all good! I get that every year and love that jump!

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Lilith Newbie

Lilith

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oh yeah and i got my federal deposited today just like promissed...... going to pay bills and be stress free till march 24 when the next round of payments come due :grin no fun invovled no wonderful shopping spree but being a bit stress free for a month or so will be a grand reward when reflecting over the past year.

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Aralis Newbie

Aralis

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I used Turbotax and it was free to efile. I am getting a decent amount back for Federal. I did not work about 5 months last year and was single. Mine was a very easy basic return. I was disappointed they ended Telefile.

As for State I have not efiled it yet. It is figuring that I owe $140. I have never owed before. Poo.

Here is a site that tells you when you will receieve your refund. Mine is being mailed so it came in handy.

https://sa.www4.irs.gov/irfof/lang/en/irfofgetstatus.jsp

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Lilith Newbie

Lilith

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thanks Babe...I wasent sure if I was wrong....(dancing now)

<{POST_SNAPBACK}>

more techinically put you are deducting your property taxes that you pay to the city every year, it is the homestead tax credit, actually i think any one who gets a bill from a land lord, or lot rent that breaks down the bill in to sections ( $X.XX water ~ $x.XX taxes ~ $x.xx Rent ) can deduct the amount of the property taxes they pay to said landlord.

I dont think this works for an apartment how ever, but be sure to ask your tax guy.

When i lived in a trailer and paid lot rent $6.00 of my lot rent went to property taxes every month so when i did my taxes i used 12x6 =72 and that is what i entered in the box when asked.

Now i own a home and enter a jaw dropping $3,000 in the box and get an even bigger jump.

:peanutbutterjellytime

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