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Tax advice thread?; We got any tax experts here?
Topic Started: Jan 10 2013, 05:39 PM (1,540 Views)
Horn


What? $50 is a lot when you were making $12k???
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z34-5speed
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Horn12007
Jan 14 2013, 07:12 PM
What? $50 is a lot when you were making $12k???
Yes it was. Considering they had already taken out $700.
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Horn


z34-5speed
Jan 14 2013, 07:52 PM
Horn12007
Jan 14 2013, 07:12 PM
What? $50 is a lot when you were making $12k???
Yes it was. Considering they had already taken out $700.
So a bit over 6%......
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z34-5speed
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That "6%" was just counting the States cut...

What I carrot grasp is this:

I have the absolute MOST taxes taken out of my check (0 deductibles) and I have another $40 being taken out on top of that(just to be safe). So why would they still try and take more money? Why not just get it the first time?

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Cobb
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:popcorn Yeah, selling my condo at this point would get me mo taxes to pay on the earnings, but I am using turbo tax, I am not going to wing it at this point in the game. Ive used tt for almost ten years now.

When I was comissioned sales I had a set amount deducted, however I almost always got that back when I filed. I think they withheld it at 20%. Most payroll systems will let you set a fixed amount as well as a %.
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Cobb
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:popcorn Been doing my taxes on turbo tax. Seems since I got my home in 08 that I must claim that address as my main home otherwise I need to pay it back in full. Guess I need to see what exactly main vs a regular home means? Another idea was to forgo all the rental crap and just file the 1099 misc so I have the income reported and dont setup any red flags. Looks like reported it as a rental vs not will only make a 800 dollar difference in my return. If I dont claim it as my main home then I get a 6 grand charge added to my fed owed.
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Vkhelldog
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I just used turbo tax for the first time. I was going to ask on here if anyone had opinions on the different software.. In the past I always went to a private tax guy CPA, I once used TaxAct and it was garbage.. I wouldn't recommend it.. but Im giving turbo tax a whirl.
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00Metro
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Using HR Block online for last 7 years....no issues yet :shake
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Shinrin
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Used turbotax last year and this year. I'm satisfied with it. The year before I used it, I took my stuff to a professional. Getting about the same percentage back doing it myself as I got when he did it.
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Woodie
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I used TaxAct last year and was happy with it, but my taxes are crazy simple. I don't own anything.
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Vkhelldog
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Turbo tax screwed me because it claimed unemployment as earned income credit,(not allowed) I had to pay back 5k... Their software problem but they said it was my fault. I found turbo tax easier to use, better guided, than h&r block (I filled both out this year hr block really confused me on the moved last year form where I found turbo tax to be very easy and informative... ). Anyway it's filed so just waiting for the 30th so I can get approved, need new mirror deletes and wheel bearings!
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Cobb
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:popcorn Well, I still owe 6 grand. I checked with hr block, they told me to pay what I can and wait for their collections dept to call. :evillol

I checked irs gov website and found conflicing info. One part says I got 36 months to pay it in full, another 12 months. Regardless you got to fill out a form or call them. And hr block said to wait for them to call you. :evillol
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aaronvincent
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Mr Mojo Risin'

6 grand!? Jesus, did you funnel money from offshore accounts or something? :O
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Cobb
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I got the first time homer tax credit of 2008. Its suppose to be paid back in 17 years unless you rent or sell your home. :smackface
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z34-5speed
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I wound up getting a decent amount back.

Was shocked that I didn't owe!

Used H&R block for the first time and was very pleased. Got my return back exactly one week after I filed.
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