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 OMG Income Tax

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Thump

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Location : Central Florida

PostSubject: OMG Income Tax   Tue Mar 17, 2009 10:06 am

It looks like we're totally screwed this year. Maybe owe over $5,000 + penalty but
I hope to find more that I sent in extra for estimated taxes. Helen just found one
payment for a little over $1,100. Gotta be more somewhere.

The problem was Helen changed her withholding to married with one dependant.
She'd always filed as married with no depenants before. I figured out how much
extra to send in by what she paid in the year before so we didn't pay in as much
together 'cause hers was less. I thought we'd always be safe 'cause there's
no penalty if you pay in as much as you owed the year before. Since we didn't
we're going to have a penalty. Crap.

Don't know what I'm going to do now, maybe hire two or three people to figure the
taxes and send in the one with the lowest tax. And I've got to find a record of
where I sent in more estimated taxes than that.

Helen paid in 11,550
Her tax would be about 15,000 married filing seperately.
I probably wouldn't owe anything or get some back, I'll check it that way and
see if it's any less but it never has been. Odd.


I don't feel too bad about it now, I ran things through in Turbo Tax online and if I
hadn't lied so much about names and social security numbers and stuff like that I'd
probably have paid them and tried it just to have it over. They came up with a
hell of a refund and I really didn't lie to speak of about the amounts.
Their url started with https so that meant secure but I still didn't want to tell them
too much. They said this at the end:


They said I'd come out better with the standard deduction again and I always do.
Maybe 'cause I'm retired.




Thump
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jeanhump



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Age : 92
Location : johnson city, TN

PostSubject: tom's taxes   Tue Mar 17, 2009 6:32 pm

Where you are concerned, I want to say one thing: "Your mama didn't raise a fool."
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rockhump

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PostSubject: OMG Income Tax   Wed Mar 18, 2009 6:06 am

So you went from owing 5 grand to getting 3,000 back??! Maybe you could land a job at AIG or Citibank? hehe
Congrats!
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Thump

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PostSubject: Re: OMG Income Tax   Wed Mar 18, 2009 7:28 am

No need for congratulations, nothing's solved, but I have new hope. I probably forgot
to tell them something though. Turbo Tax isn't transparent enough to let you know if
it's right or wrong. Everything's just wizards and then a result, it seems to all be on
trust and I have little. Since it doesn't show you the form as it goes you can't tell if
you've made a mistake in submitting the info. I may or may not start again today but
I'll get it.

Tax Act was a little better in letting you see what they've done before you buy so
you don't get a pig in a poke. Some of the government worksheets are confusing
and I'll try that again when I get to it. I didn't have those as a form and did them
in my head.

Thump
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Thump

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PostSubject: Re: OMG Income Tax   Wed Mar 18, 2009 2:48 pm

Done! I went back to Turbo Tax Online, the premier version that includes rent and
corrected the erroneous stuff I'd put in. I worked with it again and found it hadn't
asked me for how much social security I'd drawn and went into it and it said "You've
told us you draw social security." I knew I did but it didn't ask me for the amount
at that time, it does things in an odd order and I hadn't thought of it. I also drilled
into the capital gains and it hadn't asked for any except from brokers and dividend
paying companys so I put those in. The "Come On" refund figure disappeared then.

It had went to owing $322 and that wasn't too bad. I clicked efile and it made me
pay first and then let me click efile again. Then it said "Whoops, some things have to
be fixed before you can efile and had me fix a few things but it didn't cost me any
more 'cause I'd found everything left out first. I would have been really mad if I'd
clicked and paid when it said I had the big refund and then it had taken it away
after I'd paid. So I've already filed now and have to send a check by April 15 for
$322. Thank goodness it's over.

Thump
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rockhump

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PostSubject: OMG Income Tax   Thu Mar 19, 2009 7:22 am

Well congrats again..Sorry you had to pay but I think you were expecting too and probably more than that.
It takes me about 3 hours every yr to do it with Turbo Tax. I really take my time and try to do everything possible to avoid an audit. I still thinks it's crap that we have to go through this every yr. The flat tax was the only reason I was hoping Huckabee might get into office..Oh well.
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