I use a CPA still pending investment forms I don't get mine back to March every year.

Mrs. Lawnboy's dad does them for us, got my Federal money two weeks ago and my State check came yesterday.:ylsuper:

I do my own and always have. It bit me in the butt once, because I didn't understand the HOH status. But a CPA friend helped straighten that out. At this point in my life, my tax situation is super simple and I'm cheap. However, if things get more complicated, I will go to my CPA friend.

Here is a picture of mcpapa's first tax return...

 

 

 

That report went straight to Zacchaeus, if memory serves.

 

Laugh it up.

If you get a big refund check, you're letting the government hang on to your money way too long.

If you get a big refund check, you're letting the government hang on to your money way too long.

 

For those who end up with lots of tax credits, and deductions (which means very little if any tax liability), you have little choice. I guess you could claim a bunch of exemptions to really limit your witholdings. But for me, I try my best and still get decent sized refunds every year.

For those who end up with lots of tax credits, and deductions (which means very little if any tax liability), you have little choice. I guess you could claim a bunch of exemptions to really limit your witholdings. But for me, I try my best and still get decent sized refunds every year.

 

I never had those issues and never will, I guess.

 

I was kinda hoping last night's Powerball would put me in another tax bracket, but alas, it was not to be.

If you get a big refund check, you're letting the government hang on to your money way too long.

 

My goal is to keep it at less than $500 in either direction.

I can't remember now. Been using a bona fide pro to handle my taxes this year and last. I just know I always felt like Turbo Tax got the best of me everytime I used them.

 

Turbo Tax should cost you $59.99 max, unless you own a business or lots of investment income.

My goal is to keep it at less than $500 in either direction.

 

Doesn't matter if the robs you of it.

I used to do my own with help of software. Not hard after the first year and if you have a relatively stable situation with few anomalies or non-W2 sources of income.

 

Then: wife was laid off and we had combination of UE, education cost, new job, etc; started a side business; purchased some rental property (aka Money Pit); and started tap into retirement accounts a bit, etc, etc.

 

Then took advantage of brothers offer to do for free. Now he has the baseline and the non-W2 stuff is easier for him to deal with and ensure its correct. Also would take care of AMT. AMT still can catch people who are doing it by hand who may not think it applies to them since it kicks in a relatively low amount.

Doesn't matter if the robs you of it.

 

State*

Just did my first pass on my Federal return. Before IRA contributions I'm looking at about a $5k bill.

 

Maxing out my contribution and my bride's contribution will drop that down into the $2k range.

 

Lesson to all: Save/defer taxes AND fund a long-term savings plan.

Had it not been for a big medical bill I had to pay out-of-pocket this would have been the first year I used the standard deduction. Another sign of getting old.