Taxes 2016

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TomServo

<Bronze Donator>
6,301
8,088
Just work it out with them it's really not that big of a deal. I was audited for 2011, 2012 and 2013 with them saying i owed them 16k blah blah. I basically entered the wrong number for mortgage interest and shit and sent them a copy of the tax form and they adjusted. no ass raping was involved.
 

TJT

Mr. Poopybutthole
<Gold Donor>
40,697
102,072
Account is on hold until they receive my updated documenation. Should decrease my taxable amount dramatically and this won't be an issue. Thank god.
 

Hoss

Make America's Team Great Again
<Gold Donor>
25,425
11,873
Just got my taxes done today. I went to a professional because I sold a house and didn't want to fuck that up. The house had not been my primary residence for over 5 years so I had to pay taxes. I was worried I'd made money on it (because I didn't bother to look up the actual initial buy price before I got to his office) so I came loaded for bear with expenses. Turns out I lost about $4k when I thought I had made $6k. The shitty part is that since it wasn't an 'investment' property I don't get to claim the $4k loss nor do i get to claim the thousands I had in maintenance and repairs. What kinda shit is that? If i'd made money I woulda been on the hook for more taxes, but since I lost money, the IRS gets to go "nah, we coo dog"
 
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AladainAF

Best Rabbit
<Gold Donor>
12,846
30,786
Just got my taxes done today. I went to a professional because I sold a house and didn't want to fuck that up. The house had not been my primary residence for over 5 years so I had to pay taxes. I was worried I'd made money on it (because I didn't bother to look up the actual initial buy price before I got to his office) so I came loaded for bear with expenses. Turns out I lost about $4k when I thought I had made $6k. The shitty part is that since it wasn't an 'investment' property I don't get to claim the $4k loss nor do i get to claim the thousands I had in maintenance and repairs. What kinda shit is that? If i'd made money I woulda been on the hook for more taxes, but since I lost money, the IRS gets to go "nah, we coo dog"

I always recommend a professional if your taxes are even remotely complex. Sure it might cost a couple bucks, but fuck it, it's worth it.

PS: H&R Block != "professional"
 

Hoss

Make America's Team Great Again
<Gold Donor>
25,425
11,873
Anyone know the cheapest irs free file software is?

Little late on this answer, but the cheapest will be free. I used tax act up until last year when my taxes became complicated because one of my 1099's was filled out wrong. There are other free softwares. If you pay for a tax software you're a sucker. If you're willing to pay, go to someone who knows what they're doing.
 

Alex

Still a Music Elitist
14,465
7,381
Paying the $60 or whatever for TurboTax is worth the time savings.
 
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Omi43221

Trakanon Raider
924
824
Little late on this answer, but the cheapest will be free. I used tax act up until last year when my taxes became complicated because one of my 1099's was filled out wrong. There are other free softwares. If you pay for a tax software you're a sucker. If you're willing to pay, go to someone who knows what they're doing.


FYI I did research this my two choices for free were Tax Act Up and TaxSlayer.
 

BrutulTM

Good, bad, I'm the guy with the gun.
<Silver Donator>
14,366
2,139
I tried to do the free tax slayer but then they wanted to charge me to import my previous year's info so I paid them $22 to avoid having to re-enter my personal info and my bank account numbers. Grats me on laziness.

It's been pointed out to me by a few people this year that every tax form that is sent to you by your employers/banks/etc. is also sent to the IRS so they already have 100% of the information in your tax return and they could easily fill them out for you via computer but every time someone suggests this the accountants and companies like H&R Block and Turbotax lobby against it because it would put them out of business. Fuckers. Makes me want to go back to doing it by hand.
 

Cad

<Bronze Donator>
24,487
45,377
I tried to do the free tax slayer but then they wanted to charge me to import my previous year's info so I paid them $22 to avoid having to re-enter my personal info and my bank account numbers. Grats me on laziness.

It's been pointed out to me by a few people this year that every tax form that is sent to you by your employers/banks/etc. is also sent to the IRS so they already have 100% of the information in your tax return and they could easily fill them out for you via computer but every time someone suggests this the accountants and companies like H&R Block and Turbotax lobby against it because it would put them out of business. Fuckers. Makes me want to go back to doing it by hand.

The tax forms only contain income and certain types of deductions. Your business deductions/etc they have no idea about.

If you're doing 1040EZ/standard deduction then sure I guess. They still need to know if you're claiming kids, what their SS#'s are, etc.
 

Vinen

God is dead
2,782
486
Owed 25 grand on tax day :|

10K for this year and 15k for Q1 pre-payment for next :|
 

Vinen

God is dead
2,782
486
Probably self-employed or a consultant so has nothing deducted at source.

Owed $3800 myself this year because of capital gains taxes on a good dividend year.

No. The main reason is my wife purchasing stock options at her company. Pushed us really fucking high.
 

Vinen

God is dead
2,782
486
If it hurts so much you can give me part of your 415K+ income, though if you actually paid a 39.6% effective tax rate you need a better accountant.

Vast majority was W2. :|
We just had some money in that bracket.

I should check what our effective was.

EDIT: 30% effective tax rate.
 

Noodleface

A Mod Real Quick
37,961
14,508
No it's just every opportunity is a chance to humble brag. I was just curious if someone royally fucked up