Who has filed their taxes?

[mrs taylor]

Jut got my 1099-MISC. Got my W-2 a while ago. Put it all into TT and I oweeeeee That part-time freelancing job I picked up last year was such a bad idea. Tedious, time consuming, and taxed as self-employment at like 40%. Awful. Should have quit it even sooner. Oh well, hopefully next year it'll be better.

Even though I owe, I'd rather file ASAP. So my budget can get on the recovery track asap as well. Though Intergem is coming in a couple weeks, maybe I should wait till my account recovers from that, first...

I'm now TERRIFIED to do my taxes.

 

[GemFever]

Jut got my 1099-MISC. Got my W-2 a while ago. Put it all into TT and I oweeeeee That part-time freelancing job I picked up last year was such a bad idea. Tedious, time consuming, and taxed as self-employment at like 40%. Awful. Should have quit it even sooner. Oh well, hopefully next year it'll be better.

Even though I owe, I'd rather file ASAP. So my budget can get on the recovery track asap as well. Though Intergem is coming in a couple weeks, maybe I should wait till my account recovers from that, first...

I'm now TERRIFIED to do my taxes.

Yeah, it was tough to pay up last year, the first and last full year I did that job. I knew in the back of my mind that the rate would be high, but I thought, I'm not making that much, maybe they'll have pity. But no. Anyway, the 60% of that income that I got to keep were nice... but one has to been good at budgeting for the hit.

 

[Puppmom]

DH has royalty income and the 1099MISC comes at the last possible minute every year. $200 in royalties costs us $100 in taxes. Being a musician is an audit flag so we're very careful with the way we file that income and don't bother writing anything off. It's just not worth it.

I don't like to let the IRS borrow money from me all year so we try to minimize our return. In the past few years though, we've bought a house, had education expenses and another child which complicate matters a bit. I always leave room for at least the child tax credit because you never know when when they'll snatch that away!

 

[mrs taylor]

DH has royalty income and the 1099MISC comes at the last possible minute every year. $200 in royalties costs us $100 in taxes. Being a musician is an audit flag so we're very careful with the way we file that income and don't bother writing anything off. It's just not worth it.

I don't like to let the IRS borrow money from me all year so we try to minimize our return. In the past few years though, we've bought a house, had education expenses and another child which complicate matters a bit. I always leave room for at least the child tax credit because you never know when when they'll snatch that away!

I don't even understand how that is possible. I absolutely believe you, but HOW?!

 

[marcy]

If we owe it we file April 14th. If we get a refund I file as soon as I can. Sadly Turbo Tax keeps telling me some of my forms aren't available yet.

 

[amc80]

My refund was direct deposited today

 

[Deactivated member 42515]

I'm so happy! We only need to pay a quarter of what we usually pay in taxes! Woo! Hoo!!!

 

[justginger]

I'm so happy! We only need to pay a quarter of what we usually pay in taxes! Woo! Hoo!!!

Interesting - the posts I've been seeing from my conservative friends on FB seem to suggest that everyone's taxes are through the roof. I see that's not the case.

 

[Sparklelu]

I'm sitting down to do mine tonight, but Ive heard that if you have education loan interest they are not ready for that one. JUSTGINGER:I have heard from many of my friends that they are not getting nearly as much as before and many owe way more than last year. Im afraid :0
I think folks who make slightly above avg salaries are being hit the hardest. As well as folks who itemize business expenses. I get to deduct teacher expenses which I have reciepts for and those may not be as valuable to us as they have to be. CAuse you know we teacherrs are rich!

 

[Puppmom]

Got DH's 1099-MISC early this year and filed right away...only to be notified that the IRS isn't processing any returns that include education expenses until mid-February. Boo!

 

[MichelleCarmen]

I'm sitting down to do mine tonight, but Ive heard that if you have education loan interest they are not ready for that one.

Yep, they are updating their system, so any educational expenses/deductions/credits mean a couple additional week wait. I did TT on the 29th and a message was sent a few days later saying my return is among the ones not ready to be processed due to writing off schooling from last year.

 

[Deactivated member 42515]

I'm so happy! We only need to pay a quarter of what we usually pay in taxes! Woo! Hoo!!!

Interesting - the posts I've been seeing from my conservative friends on FB seem to suggest that everyone's taxes are through the roof. I see that's not the case.

That's what I thought too. Last year, our tax lady told us that we make too much compared to how much we spend and give away. This year we tried to do as much charity work as possible and DH also set up a charity to be withdrawn from his check, so that was automatically added to the taxes.

I'm not sure of the rest but I'm just glad that we are paying what we are paying because I have been afraid to do my taxes ever since we got my W-2s.

We've never been able to get a refund. And every year we have been married, our taxes went up by 200-300 dollars. Not this year tho. Drastic drastic amount of change. Like we are talking pennies and lint compared to before. I'm kinda afraid it's wrong...

 

[Puppmom]

DH has royalty income and the 1099MISC comes at the last possible minute every year. $200 in royalties costs us $100 in taxes. Being a musician is an audit flag so we're very careful with the way we file that income and don't bother writing anything off. It's just not worth it.

I don't like to let the IRS borrow money from me all year so we try to minimize our return. In the past few years though, we've bought a house, had education expenses and another child which complicate matters a bit. I always leave room for at least the child tax credit because you never know when when they'll snatch that away!

I don't even understand how that is possible. I absolutely believe you, but HOW?!

Seems ridiculous, right? Adding that $200 to our income reduced our federal return by about $70 and resulted in us owing $25 in state taxes! If he earned any significant amount we would probably write off his expenses but we leave it be because it allows us to file on our own and we don't want to be audited...it would be such a HASSLE to get audited!

 

[Deactivated member 42515]

DH has royalty income and the 1099MISC comes at the last possible minute every year. $200 in royalties costs us $100 in taxes. Being a musician is an audit flag so we're very careful with the way we file that income and don't bother writing anything off. It's just not worth it.

I don't like to let the IRS borrow money from me all year so we try to minimize our return. In the past few years though, we've bought a house, had education expenses and another child which complicate matters a bit. I always leave room for at least the child tax credit because you never know when when they'll snatch that away!

I don't even understand how that is possible. I absolutely believe you, but HOW?!

Seems ridiculous, right? Adding that $200 to our income reduced our federal return by about $70 and resulted in us owing $25 in state taxes! If he earned any significant amount we would probably write off his expenses but we leave it be because it allows us to file on our own and we don't want to be audited...it would be such a HASSLE to get audited!

I've gotten audited... Hated that letter! We had to pay an extra $600 on top of the whopping amount we already paid because we missed something. Damn taxes.

 

[OneFifty]

I hope I can file my taxes by April 15th, although I may have to extend. I'm too busy filing everybody else's taxes!

 

[ame]

We're working on it now. My dad is sorting the stuff I brought over yesterday, and I have my business stuff I think mostly sorted and spreadsheeted out. We're gonna start inputting as much into TurboTax (or TaxCut?whateverwe'reusing) now and then I can see what the heck I am missing or forgetting. Every year I forget something, like my utilities or sometihng, which I have to add up and factor in bec I work out of my house.

 

[amc80]

I'm so happy! We only need to pay a quarter of what we usually pay in taxes! Woo! Hoo!!!

Interesting - the posts I've been seeing from my conservative friends on FB seem to suggest that everyone's taxes are through the roof. I see that's not the case.

Mine are for this year, but not 2012. I got a raise for 2013 but with the tax increases my paycheck went down

 

[tammy77]

Anyone from California E-file and get a message saying 12 weeks for their refund? I called the customer service yesterday because it's supposed to take 7-10 days for e-filers. Huuuuuge waste of time trying to talk to her!

 

[zoebartlett]

We've filed our state taxes (California) and should have our refund in a few more days. Our federal taxes are ready to be filed on the 30th. DH does them for us and we get a sizable amount back so no reason to delay!

Ahh, the beauty if no state income tax ='only one return to file!

Yep, only one for us, too!

We haven't filed yet but we will next month.

 

[MichelleCarmen]

Anyone from California E-file and get a message saying 12 weeks for their refund? I called the customer service yesterday because it's supposed to take 7-10 days for e-filers. Huuuuuge waste of time trying to talk to her!

What kinds of deductions are you taking? There are some that put you in the category of it taking longer to get a refund for 2012.

 

[texaskj]

As usual, my W2 came on Feb. 2. Even the 1099 from the mineral lease came before it.
Turbo Tax never knows what to do with that. It asks if there was any income from gas/mineral leases, but then it doesn't know what to do with the info. Last year it wanted to turn it into a home office. My last royalty check was for a whopping $25, so I'm not too worried.

 

[ame]

My dad and I did ours tonight. We printed them so DH can review when he gets off work (rough week) and then if he is happy ill have my dad hit the e file on federal and we will mail in state. I'm not paying 20$ to efile for the refund on that.