Taxes 2016

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TomServo

TomServo

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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

TJT

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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

Hoss

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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

AladainAF

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Hoss said:
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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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

Hoss

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Omi43221 said:
Anyone know the cheapest irs free file software is?
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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

Alex

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Paying the $60 or whatever for TurboTax is worth the time savings.
 
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Omi43221

Omi43221

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

BrutulTM

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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

Cad

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BrutulTM said:
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.
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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

Vinen

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Owed 25 grand on tax day :|

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

Vinen

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Frenzied Wombat said:
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.
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No. The main reason is my wife purchasing stock options at her company. Pushed us really fucking high.
 
Vinen

Vinen

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Frenzied Wombat said:
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.
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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

Noodleface

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