Working on my Tax Return

April 13, 2018, 10:48 PM

Sailor1911

quote:
Originally posted by tanner:
A staggering 66% of millennials have no clue their tax returns are due in just FOUR DAYS - and most are terrified that they will make mistakes when they do file.

http://www.dailymail.co.uk/fem...turns-FOUR-DAYS.html

Is that a trigger?

Place your clothes and weapons where you can find them in the dark.

“If in winning a race, you lose the respect of your fellow competitors, then you have won nothing” - Paul Elvstrom "The Great Dane" 1928 - 2016

April 13, 2018, 10:51 PM

GWbiker

I wrote out a hefty check to the IRS and just under $500 to state of Arizona to help pay for that beautiful "Zonie" weather we get.

Checks are sitting on the desk to be mailed out at the Post office on the 17th.

April 13, 2018, 11:02 PM

Sailor1911

quote:
Originally posted by OneWheelDrive:
I just got my Schedule K-1, so I get to finish this weekend. I hate K-1s.

Sometimes, me too!

Particularly hate them when brokers think they are common stocks to be traded like playing cards, The dumb ass brokers don't realize or give a shit (because the of commission) that their systems don't have any way of calculating cost basis in the deal - so it's left to the tax accountant to fix the brokers 1099-B. And the client does not understand that every one of these POS's take 30-60 minutes to sort out the correct tax basis for sale and the character of the gain.

Rule: You want to trade LP's. do it in an IRA where the gain/loss is no matter for current year tax. In your taxable accounts you like being in an LP. Buy big and hold LP's long - don't want to be a long term investor, stay away.

Have a nice day!

April 13, 2018, 11:24 PM

LBTRS

This is my project for the weekend. Big checks to write to the feds and Arizona.

April 13, 2018, 11:31 PM

lkdr1989

Finished mine today, just need to print everything, write the checks and mail on Tuesday.

...let him who has no sword sell his robe and buy one. Luke 22:35-36 NAV

"Behold, I send you out as sheep in the midst of wolves; so be shrewd as serpents and innocent as doves." Matthew 10:16 NASV

April 14, 2018, 12:35 PM

nhtagmember

finished mine off

get a small refund from the feds, and the State of Arizona takes it

last year when I did my AZ return there was a line item for sales tax deductions

this year, no such line item on the return (I saved all of my receipts, sorted by month and created a spreadsheet - about $2000 in sales tax)

all that work for nothing

April 15, 2018, 04:51 AM

GRIZZLYBEAR

Had my taxes done in Feb and just waiting to send out the checks. Will be mailed out on the 16th.

April 15, 2018, 06:56 AM

scsigs

Got all my tax papers ready last night, hopefully finish up today and mail it out 16-17th

April 15, 2018, 07:56 AM

bryan11

Articles today:

Filing Taxes Could Be Free and Simple. But H&R Block and Intuit Are Still Lobbying Against It
The makers of TurboTax and other online systems spent millions lobbying last year, much of it directed toward a bill that would permanently bar the government from offering taxpayers prefilled filings - Source

Turbotax Design - There's a free Turbotax version that could work for many people - Source

April 15, 2018, 09:24 AM

TAllen01

quote:
Originally posted by smithnsig:
I’m surprised that people don’t use an accountant. Especially when dealing with K-1s.

That's me. I gave up and started using a CPA once I had to file in four states. We're in 8 states now.

April 15, 2018, 11:38 AM

Bytes

Just finished mine. Due to doing some consulting work on the side my wallet is a lot lighter now.

April 15, 2018, 11:58 AM

JALLEN

Now might be just the time to encourage folks to learn about and support The Fair Tax.

I’ve not seen much about it recently but it remains to me a very good idea. Why it hasn’t garnered more support is baffling to me.

It is very different than what we are used to thinking about. It is hard to imagine, especially for those who aren’t into imagining.

It is a Very Good Idea[tm] though.

Luckily, I have enough willpower to control the driving ambition that rages within me.

When you had the votes, we did things your way. Now, we have the votes and you will be doing things our way. This lesson in political reality from Lyndon B. Johnson

"Some things are apparent. Where government moves in, community retreats, civil society disintegrates and our ability to control our own destiny atrophies. The result is: families under siege; war in the streets; unapologetic expropriation of property; the precipitous decline of the rule of law; the rapid rise of corruption; the loss of civility and the triumph of deceit. The result is a debased, debauched culture which finds moral depravity entertaining and virtue contemptible." - Justice Janice Rogers Brown

April 16, 2018, 03:39 PM

fiasconva

Did mine last night and mailed them off today. When you have to pay you aren't in much of a hurry to get them done early.

April 16, 2018, 03:44 PM

P250UA5

quote:
Originally posted by TAllen01:
quote:
Originally posted by smithnsig:
I’m surprised that people don’t use an accountant. Especially when dealing with K-1s.

That's me. I gave up and started using a CPA once I had to file in four states. We're in 8 states now.

Not multiple states, but we started using a CPA when my wife started her business.
I may have an accounting degree, but have no interest in dealing with taxes. Will gladly pay the CPA.

April 16, 2018, 03:52 PM

jhe888

The joy of having a son who is a CPA, and who specializes in tax . . .

It takes him about an hour to do what used to take my wife about 15 hours. She is not efficient, and frets overmuch about everything, but even still, he is super-quick.

April 16, 2018, 04:09 PM

nhtagmember

I think Arizona rigs then game to take about 75% of whatever your federal refund might be

April 16, 2018, 04:11 PM

lkdr1989

Everything is ready to drop in the mail tomorrow...no sense paying a day early

...let him who has no sword sell his robe and buy one. Luke 22:35-36 NAV

"Behold, I send you out as sheep in the midst of wolves; so be shrewd as serpents and innocent as doves." Matthew 10:16 NASV

April 16, 2018, 04:38 PM

Pipe Smoker

quote:
Originally posted by OneWheelDrive:
I just got my Schedule K-1, so I get to finish this weekend. I hate K-1s.

My K-1, for a private REIT, came just a few days ago too. It’s been a good performer for me, but I’m getting tired of the tax time hassle it causes.

April 16, 2018, 04:42 PM

Georgeair

I'm amazed at how many people are printing and mailing returns.......

April 16, 2018, 05:01 PM

doublesharp

turbo tax efile and EFT to pay. Owed a little to state and had a small fed refund. Paid 1sr qtr est tax to fed and state.

I use electronic fund transfers to pay everything. No checks, no stamps and easy record keeping plus it is free.