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Midlife

Midlife

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Spent this morning doing my taxes, including Schedules A, B, D, and M. Wasn't bad at all...took only 3 hours. I finally was able to input the data onto the PDF forms for the IRS, so everything looks neat and clean. On Jan. 1, I always start a spreadsheet of the basics, and when I get the 1099 forms, I mark which numbers are now accurate and which are left to be confirmed. I then do the forms, and compare that to my spreadsheet.

I'm over the limit for submitting electronically the forms for free, so I'll just mail them in. I'm curious, however, how one submits signatures with electronic submissions.
 
My husband finally did our taxes online and submitted them Thursday. Friday they were approved and said est date to get our refund is March 4th and you know what that means.. MUSTANG PARTS!! :pbj
I think when you submit it online, by typing in your name it counts as a signature as if you signed it with pen.
 
Turbotax recommends if you file electronically to call IRS's automated line and get an electronic pin number as well.
 
What is it with people that want to get a refund?? Wouldn't you rather have that money in every check instead of giving it to the Gov interest free?
 
"silverblueBP" said:
What is it with people that want to get a refund?? Wouldn't you rather have that money in every check instead of giving it to the Gov interest free?
Click to expand...

:wtf is a refund?
 
If it was in every paycheck, it would just be pissed away on stupid things......................... like beer. :hide
 
I cut it close this year. Normally SWMBO clames married and zero as do I. My employer doesn't take taxes out, and my retirement isn't taxed so we just have her money to get back.

This year we had some money come in when my brother died which was part of his retirement account. It paid a tone of bills and they kept a tone of money for the feds, which was good since I will nearly break even between owing the state and refund from feds.

I am in agreement I would rather have it every month than give it interest free.

Maybe we should get some bill introduced that requires the IRS to pay interest up to April 15th on any refund, then they would fix the tables.

Mel
 
I have a rather large number of mutual funds and ETFs, that get bought and sold throughout the year as my portfolio gets rebalanced. Because of this, I do not know until after the first of the year what my capital gains or losses might be, so I need to have extra with-holdings as insurance against penalties for not having paid enough taxes throughout the year.

Besides, if I had the money every two weeks in my paycheck, I probably wouldn't be able to save it on a consistent basis. Even if I did, the local Banks are only providing ~0.3% interest on savings accounts.
 
I did mine a couple weeks ago, but haven't filed, as there's a couple items I still need to verify.
Since I live in one state and work in another, I get to do 2 state returns...

Pretty much broke even this year. Got a bunch back from Misouri (as always), and ended up sending it all to Kansas (as usual). Was within ~$100 on federal, which was OK...

I claim married and 7 exemptions. Usually come out a little ahead, but I got screwed this year. Since the oldest daughter got married in 2010, I not only lost the dependent, but I don't get to claim the college tuition tax credit on her either. So, that last semester of tuition that I paid, she gets to claim, and I don't. Doesn't seem fair, but "it is what it is"...
 
"silverblueBP" said:
What is it with people that want to get a refund?? Wouldn't you rather have that money in every check instead of giving it to the Gov interest free?
Click to expand...

My question exactly. I never get anything back.
Bill
 
Well I haven't done my taxes because I am now married and I need to talk to someone to see what's different. I have a portfolio that also changes. Jenn always gets money back and I usually pay like 20 bucks. I am probably going to try to do this week.
 
"Gigantopithecus" said:
:wtf is a refund?
Click to expand...

Amen brudder!

"Kats66Pny" said:
If it was in every paycheck, it would just be pissed away on stupid things......................... like beer. :hide
Click to expand...

It's possible to have your financial institution squirrel away the $ for you automatically. Then you can't piss it away - it disappears from the main account. Many even help you keep your mitts off til a certain date (like a Christmas Club). Plus, they pay interest.
 
"Midlife" said:
I'm curious, however, how one submits signatures with electronic submissions.
Click to expand...

With TurboTax, the first year you file electronically, you call up the IRS and get a pin. In subsequent years, you will use this PIN and your AGI from the previous year when you file your taxes electronically. My taxes are pretty simple, so I buzz right through them without much regard to the details lately. I've been using TurboTax since the late 90's.
 
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