Done

Welcome to the Leverguns.Com Forum. This is a high-class place so act respectable. We discuss most anything here ... politely.

Moderators: AmBraCol, Hobie

Forum rules
Welcome to the Leverguns.Com General Discussions Forum. This is a high-class place so act respectable. We discuss most anything here other than politics... politely.

Please post political post in the new Politics forum.
Post Reply
User avatar
COSteve
Advanced Levergunner
Posts: 3851
Joined: Sun Jul 12, 2009 4:03 pm

Done

Post by COSteve »

Done
Last edited by COSteve on Sat Jan 16, 2021 6:52 pm, edited 2 times in total.
Steve
Retired and Living the Good Life
No Matter Where You Go, There You Are
User avatar
AJMD429
Posting leader...
Posts: 31933
Joined: Sun Sep 09, 2007 10:03 am
Location: Hoosierland
Contact:

Re: Just E-Filed My Federal and State Taxes

Post by AJMD429 »

The fun of being self-employed, plus in 'health care', plus owning a rental house and having kids in college, resulted in one year our going to the tax-guy and hoping for the expected refund of $2,500 or so, since we had paid 'quarterly estimates' of $8,000 earlier in the year, despite my income from November to March totaling $1,500 (revenues in health care are very seasonal - many barely break even from Thanksgiving to Easter, then make most of their income in the summer, just as farmers make all their income in the winter after selling crops)......we returned from a breast biopsy (thankfully negative) to the tax guy to pick up our forms, and found out that instead of a 'refund', we OWED $32,000......due to a series of law changes, and mistakes in prior-years reports.... :cry:
Last edited by AJMD429 on Sun Mar 15, 2020 8:51 am, edited 1 time in total.
Doctors for Sensible Gun Laws
"first do no harm" - gun control LAWS lead to far more deaths than 'easy access' ever could.


Want REAL change? . . . . . "Boortz/Nugent in 2012 . . . ! "
bikerbeans
Levergunner 1.0
Posts: 88
Joined: Thu Feb 21, 2019 5:39 pm

Re: Just E-Filed My Federal and State Taxes

Post by bikerbeans »

Since going on disability 11 years ago I always get a state and federal refund, but i still hate filing! :( . I always wait to the last possible moment to prepare and file. I know big brother is living on my money a few months but I am too old to change my ways.

BB
piller
Posting leader...
Posts: 15188
Joined: Sat Sep 29, 2007 9:49 pm
Location: South of Dallas

Re: Just E-Filed My Federal and State Taxes

Post by piller »

No fun filing taxes.
D. Brian Casady
Quid Llatine Dictum Sit, Altum Viditur.
Advanced is being able to do the basics while your leg is on fire---Bill Jeans
Don't ever take a fence down until you know why it was put up---Robert Frost
User avatar
marlinman93
Advanced Levergunner
Posts: 6432
Joined: Sun Apr 01, 2007 3:40 pm
Location: Oregon

Re: Just E-Filed My Federal and State Taxes

Post by marlinman93 »

I stopped hating filing when I turned it all over to my CPA to do. Now I just wait until the end of March and give him all my paperwork. He calls me a week later and tells me what the refund or damages are, and it's done. No more stressing about it as before.
Pre WWI Marlins and Singleshot rifles!
http://members.tripod.com/~OregonArmsCollectors/
User avatar
COSteve
Advanced Levergunner
Posts: 3851
Joined: Sun Jul 12, 2009 4:03 pm

Done

Post by COSteve »

Done
Last edited by COSteve on Sat Jan 16, 2021 6:52 pm, edited 2 times in total.
Steve
Retired and Living the Good Life
No Matter Where You Go, There You Are
User avatar
6pt-sika
Advanced Levergunner
Posts: 9466
Joined: Wed Dec 19, 2007 7:15 pm
Location: Virginia

Re: Just E-Filed My Federal and State Taxes

Post by 6pt-sika »

I had the taxes done and paid about a month ago . There’s a power line right of way down one side of our property and they’d decided to put up higher towers and go further into their easement . They cut a bunch of trees , about three hundred I was told and we were “compensated” so they said . This little gain caused me to pay a couple G’s in taxes . The saving grace was a logger coming by and working out a deal to salvage what he could for the mill on shares and I came out very well .
Parkers , Mannlicher Schoenauer’s , 6.5mm's and my family in the Philippines !
piller
Posting leader...
Posts: 15188
Joined: Sat Sep 29, 2007 9:49 pm
Location: South of Dallas

Re: Just E-Filed My Federal and State Taxes

Post by piller »

My filing is rather simple. Despite my enormous medical bills last year, the system is set up so that it is always better to take the standard deduction. I would have to spend 50% of my pre tax income on medical bills to do better than the standard deduction. :roll: No one can do that unless their income is under $80,000 total household income. I don't have the political position to be allowed to lie on my taxes.
D. Brian Casady
Quid Llatine Dictum Sit, Altum Viditur.
Advanced is being able to do the basics while your leg is on fire---Bill Jeans
Don't ever take a fence down until you know why it was put up---Robert Frost
User avatar
Blaine
Posting leader...
Posts: 30495
Joined: Mon Dec 17, 2007 2:22 pm
Location: Still Deciding

Re: Just E-Filed My Federal and State Taxes

Post by Blaine »

It would be great to have enough irons in the fire to need a CPA, but aside from a couple IRAs and a few annuities, it's not a complicated affair. I can use the free version of Turbo Tax. Took about half an hour, and I got my refund about four days later after E-Filing.
The Rotten Fruit Always Hits The Ground First

Proud Life Member Of:
NRA
Second Amendment Foundation
Citizens Committee For The Right To Keep And Bear Arms
DAV
User avatar
Griff
Posting leader...
Posts: 20803
Joined: Sat Mar 31, 2007 4:56 pm
Location: OH MY GAWD they installed a STOP light!!!

Re: Just E-Filed My Federal and State Taxes

Post by Griff »

Been using Turbo Tax since 1988. Had a CPA do my taxes one year... Cost $400, said I had to pay $1,200 to Feds... did 'em on Turbo Tax, got a $300 refund. Ain't seen any good reason to change...

then again, why put off until tomorrow what can wait til the day after... I'm still organizing my tax records... errr... those scruffy pieces of paper some refer to as "receipts"... that all seem deductible against the farm...
Griff,
SASS/CMSA #93
NRA Patron
GUSA #93

There is a fine line between hobby & obsession!
AND... I'm over it!!
No I ain't ready, but let's do it anyway!
User avatar
Blaine
Posting leader...
Posts: 30495
Joined: Mon Dec 17, 2007 2:22 pm
Location: Still Deciding

Re: Just E-Filed My Federal and State Taxes

Post by Blaine »

Griff wrote: Mon Mar 16, 2020 1:16 pm Been using Turbo Tax since 1988. Had a CPA do my taxes one year... Cost $400, said I had to pay $1,200 to Feds... did 'em on Turbo Tax, got a $300 refund. Ain't seen any good reason to change...

then again, why put off until tomorrow what can wait til the day after... I'm still organizing my tax records... errr... those scruffy pieces of paper some refer to as "receipts"... that all seem deductible against the farm...
I always imagined a professional trucker's tax figgerin' out to be a nightmare....
:shock:
The Rotten Fruit Always Hits The Ground First

Proud Life Member Of:
NRA
Second Amendment Foundation
Citizens Committee For The Right To Keep And Bear Arms
DAV
User avatar
6pt-sika
Advanced Levergunner
Posts: 9466
Joined: Wed Dec 19, 2007 7:15 pm
Location: Virginia

Re: Just E-Filed My Federal and State Taxes

Post by 6pt-sika »

The CPA we use we’ve been using for 25 years . Pay her $156 each year . If something comes in the mail later from the IRS about a discrepancy and she takes care of it .
Parkers , Mannlicher Schoenauer’s , 6.5mm's and my family in the Philippines !
User avatar
marlinman93
Advanced Levergunner
Posts: 6432
Joined: Sun Apr 01, 2007 3:40 pm
Location: Oregon

Re: Just E-Filed My Federal and State Taxes

Post by marlinman93 »

I simply keep a big envelope of anything tax related all year. Then when my tax forms start rolling in after the first of the year I toss them all into the same envelope and drop them at my CPA. No sit down, not meetings, and maybe a few minutes to say hello, or ask a question or two from me. A week later he calls to say it's ready, and my bill is never more than about $200.
Regardless of whether you do the taxes, or he does the taxes, I still have to keep my tax records and such all year. But it's a heck of a lot easier to hand it all to him and know if I got audited he can explain what he did, and I wont have to.
Pre WWI Marlins and Singleshot rifles!
http://members.tripod.com/~OregonArmsCollectors/
User avatar
COSteve
Advanced Levergunner
Posts: 3851
Joined: Sun Jul 12, 2009 4:03 pm

Done

Post by COSteve »

Done
Last edited by COSteve on Sat Jan 16, 2021 6:52 pm, edited 2 times in total.
Steve
Retired and Living the Good Life
No Matter Where You Go, There You Are
User avatar
marlinman93
Advanced Levergunner
Posts: 6432
Joined: Sun Apr 01, 2007 3:40 pm
Location: Oregon

Re: Just E-Filed My Federal and State Taxes

Post by marlinman93 »

COSteve wrote: Mon Mar 16, 2020 9:28 pm Must be nice to have such a trusting CPS. Everyone of them I've ever dealt with over the years has needed full and complete documentation before they would consider a deduction so I felt like their grilling was way more intense than any audit from the IRS (yes, I went through two of them and they were upset when done. One found nothing and the other actually found that I'd misunderstood a provision and that the gov't actually owed me $1,700 on a business. He was not amused but said he was duty bound to report the results of the audit.) I should note that his management reviewed his findings and stalled the refund so that it took almost 4 months for me to get my check. But in the end, they had to pay up. :D
My documentation is in the envelope, so my CPA doesn't need to be trusting. He can simply tally the receipts for everything and put together the taxes. I can't imagine just handing him a piece of paper, or verbally telling him what I want to deduct? I doubt anything not documented with a paper receipt would be accepted by IRS either if audited.
Considering you've found CPA's to need "full and complete documentation" then I'd guess if you provided that as a package they'd have no reason to meet or doubt what you submitted?
Pre WWI Marlins and Singleshot rifles!
http://members.tripod.com/~OregonArmsCollectors/
User avatar
COSteve
Advanced Levergunner
Posts: 3851
Joined: Sun Jul 12, 2009 4:03 pm

Done

Post by COSteve »

Done
Steve
Retired and Living the Good Life
No Matter Where You Go, There You Are
Post Reply