It's almost Tax Day!!!

DrParasite

DrParasite

The fire extinguisher is not just for show
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While April 15th is traditionally tax day, due to COVID the deadlines has been pushed back a month. So I am starting to work on my taxes (ugh 🤬 ) and it's every bit as exciting as it sounds.

right now it looks like i'm getting a refund from both the state and feds (wahoo!), but I'm only halfway through.

Do you guys file your own taxes? or pay an accountant or someone else to do them for you? do you use any tax prep software (turbotax, HR block, etc).
 
My entire family uses the same business service/accountants and have been using them for a very long time. I thought I was going to owe money after some of a settlement I got was in a 1099 form. Luckily I got back a little from state and fed.
 
DrParasite said:
While April 15th is traditionally tax day, due to COVID the deadlines has been pushed back a month. So I am starting to work on my taxes (ugh 🤬 ) and it's every bit as exciting as it sounds.

right now it looks like i'm getting a refund from both the state and feds (wahoo!), but I'm only halfway through.

Do you guys file your own taxes? or pay an accountant or someone else to do them for you? do you use any tax prep software (turbotax, HR block, etc).
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I usually use turbotax as my tax situation isn't at all complicated. Once things start to get complicated, then I'll start consulting with an accountant/CPA that has done my taxes in the past about doing it again.
 
Turbotax, wife’s the accountant, should have funds in about a week and a half. Done.
 
I do our taxes with homegrown software. I'm going to switch to commercial software next year.
 
I use Dr Parasites name and info. I’ve gotten huge refunds every year...🤣
 
My taxes are pretty simple, get my W2 from work, input in on the form from Credit Karma (I used to use Turbo Tax, but Credit Karma is the same thing, but free, TT is not), and I'm done. The year I moved it was more complicated, and the year I worked a side job for Uber Eats (which is classed as independent contractor, not regular W2 employee) I paid an accountant, that was a bit of a PITA.

But since I just have the one FD job, the one W2, it's straight forward input in the simple form and done.
 
I have a CPA do mine.

If I had simple taxes I'd use Credit Karma, FreeTaxUSA, or the cheapest service I could find.
 
Meh...I need to get around to filing 2017, 2018, 2019 before I stress on 2020 too much.

Downside to not filing those years....I have received 0 stimulus dollars.
 
akflightmedic said:
Meh...I need to get around to filing 2017, 2018, 2019 before I stress on 2020 too much.

Downside to not filing those years....I have received 0 stimulus dollars.
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out of curiosity... why have you not filed for the past 4 years? most of the time I end up getting a refund, and if you owe, they can assess penalties for filing late?

I use TurboTax myself; the only time I didn't was when I was running my own business, and filing in multiple states. in those cases, it was easier to just pay an accountant to handle it. Although, if Credit Karma is indeed free, than I might check that out for next year.

I think I had 4 W2s this year (I changed FT jobs last august, teaching at the college, and my FD job), so it was just transferring that information into the application, two of which imported automatically). With my side gig being inactive due to the pandemic last year, It should be relatively easy (no expenses or revenue at all).

CCCSD said:
I use Dr Parasites name and info. I’ve gotten huge refunds every year...🤣
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So that's why I ended up always owing money to the state... i knew I wasn't being overpaid riding on an ambulance and living in NJ!!
 
I use turbo tax. The only time I used a CPA I got audited and apparently owed the state about $300. The stress that it caused me wasn’t worth the marginally increased refund.
 
DrParasite said:
out of curiosity... why have you not filed for the past 4 years? most of the time I end up getting a refund, and if you owe, they can assess penalties for filing late?
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Ongoing protracted divorce (split in 2017, filed in 2018...three years and counting), ugly partner split/lawsuit from prior business, another civil lawsuit which was recently resolved....all make for fun times!

I currently owe the IRS around 476K and counting. :)

It is in my interest to delay, not file, and continue to contest the amount they say is owed. :)
 
akflightmedic said:
Ongoing protracted divorce (split in 2017, filed in 2018...three years and counting), ugly partner split/lawsuit from prior business, another civil lawsuit which was recently resolved....all make for fun times!

I currently owe the IRS around 476K and counting. :)

It is in my interest to delay, not file, and continue to contest the amount they say is owed. :)
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What type of file cake is your favorite?
 
Well....words from a very experienced Tax/Bankruptcy attorney shared a great insight with me, which is once you hit the 3 year mark past the tax year the debt was incurred, you are allowed to include it in a bankruptcy. Its good info...
 
Anyone wanna swap tax bills? This is for 2016, 2017’s is like 128k or so...

all I can do is keep smiling (I am), start over (I have), and keep moving forward one day at a time. 😁
 

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I work and live in 2 different states. I pay to have my taxes done. I have historically received refunds, single and 0.
 
Jim37F said:
My taxes are pretty simple, get my W2 from work, input in on the form from Credit Karma (I used to use Turbo Tax, but Credit Karma is the same thing, but free, TT is not), and I'm done. The year I moved it was more complicated, and the year I worked a side job for Uber Eats (which is classed as independent contractor, not regular W2 employee) I paid an accountant, that was a bit of a PITA.

But since I just have the one FD job, the one W2, it's straight forward input in the simple form and done.
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I also used Credit Karma this year due to selling stocks and it being free for everyone... and I already had an account there. The free versions of many programs do not allow you to fill in form 8949 (sales of capital assets) electronically, and they link you to the paid version instead. However, the IRS rejected my return this year and actually it actually came back corrected with a slightly HIGHER refund. 🤷‍♂️
 
akflightmedic said:
Anyone wanna swap tax bills? This is for 2016, 2017’s is like 128k or so...

all I can do is keep smiling (I am), start over (I have), and keep moving forward one day at a time. 😁
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damn.... I have heard that the longer you hold out, the better your chances are on settling with the IRS for pennies on the dollar. As long as you are following the advice of your attorney, I hope it all works out for you.

CALEMT said:
I work and live in 2 different states. I pay to have my taxes done. I have historically received refunds, single and 0.
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I agree, when I moved from NJ to NC, still had my condo in NJ, it was easier to have someone who knew what they were doing handle my taxes, esp with two states filing.

Once I took my taxes to a professional, and saw he was just putting the numbers into the tax application (HR block, Turbotax, or something like that, I don't remember which), I decided to give it a shot and found it relatively easy to do for a simple return.
 
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