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The 2013 taxation thread

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Old 02-18-2014, 01:49 PM
  #81  
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Originally Posted by z31maniac
I'm getting very frustrated with the folks doing our return. They have been handling my wife's business stuff for the last year, yet it's been over 3 weeks now and they still haven't filed.

Every other day, it's "Oh now we need this, now we need this, now we need this."

I'm surprised that a professional CPA and his staff don't have some type of document along the lines:

"Hi there business client, if we are to complete your tax review and filing for this year, provide the following information:
1. X
2. X
3. etc. etc. etc.

Thank you,
Professional CPA"
If they have had her as a client before they should have sent out a request for the same documents from the prior year as well as a questionare to determine any changes to her situation thst need to be accounted for this time around.
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Old 02-18-2014, 02:28 PM
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Originally Posted by Ryan_G
If they have had her as a client before they should have sent out a request for the same documents from the prior year as well as a questionare to determine any changes to her situation thst need to be accounted for this time around.
This our first year to file taxes with them, but they are the company that setup her S-corp and did the paperwork for it. Aside from the fact that they have multiple other hair stylists for whom they do taxes.

Which is my point. They should have a set document they give to people in December/January that says "get this stuff together so we can file your taxes."
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Old 02-19-2014, 03:11 PM
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Just finished the CA tax return. Amazingly, I guessed that one pretty close. Wound up with a $123 refund, which is sufficiently small that I'm not going to complain about it.
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Old 02-19-2014, 03:25 PM
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I guessed my MA tax pretty good, $17 return. I fucked up my Fed, over a grand. I wasnt anticipating how much interest I was actually paying per year on these student loans, and because my enrollment status was all wonky I really had no idea when I was going to have to start paying on most of them. I dropped below half time status May of '13, I graduated in october, I still dont even have a date of first payment from some of the loans. Part of me is happy, not paying yet, the other half just wants to get it over with so I know how much I need to direct deposit into the loan paying account to just setup an auto-pay (and get 0.25% off the interest rate), and then be able to get a better estimate for taxes.
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Old 02-19-2014, 03:38 PM
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Originally Posted by Leafy
I fucked up my Fed, over a grand.
Fed was weird for me this year...

On the plus side, I figured out the NY / NYC / NJ situation.

Since I am not a resident of NYC, nor a city employee, I don't pay NYC tax.

I do pay NY income tax as a non-resident (form IT-203), and then I file a resident return in NJ (form NJ-1040), however I get to use NJ Schedule A to claim a credit for the whole amount of income tax paid to NY, meaning that my net effective tax liability to NJ should be limited only to that amount of 1099 income which I received after Sep 9. I love it when there's an easy answer.

So that's nice. It means that I very slightly miscalculated the savings I'd realize by living in Hoboken as opposed to, say, Yonkers back when I was initially apartment-hunting (6.65% vs. 4.24%) but there's not much I can do about that other than consider apartment-hunting on the other side of the Hudson next time. (The way things are going at present, that was going to happen anyway.)

Last edited by Joe Perez; 02-19-2014 at 03:51 PM.
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Old 02-19-2014, 03:56 PM
  #86  
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Originally Posted by Joe Perez
Fed was weird for me this year...

On the plus side, I figured out the NY / NYC / NJ situation.

Since I am not a resident of NYC, nor a city employee, I don't pay NYC tax.

I do pay NY income tax as a non-resident (form IT-203), and then I file a resident return in NJ (form NJ-1040), however I get to use NJ Schedule A to claim a credit for the whole amount of income tax paid to NY, meaning that my net effective tax liability to NJ should be limited only to that amount of 1099 income which I received after Sep 9. I love it when there's an easy answer.

So that's nice. It means that I very slightly miscalculated the savings I'd realize by living in Hoboken as opposed to, say, Yonkers back when I was initially apartment-hunting, but it's not that big of a deal (6.65% vs. 6.37%).
That NJ/NY part sounds similar to what I did for DC/VA (lived in DC, worked in VA). Rather than double paying state income tax, you simply take a massive credit for the residency state showing you paid in the work state.

You know what. My posting that just raised a red memory flag. For some reason I don't remember handling anything specially for this for my wife who lives in VA and works in DC.

(... time passes ...)

Thankfully, google tells me that DC does not require payment of income tax if you live in another state. Which is smart since the District more than doubles in transient population during the work week.
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Old 02-19-2014, 11:49 PM
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Lol state income taxes. Blue state post.
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Old 02-20-2014, 12:24 AM
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I am going to get raped this year. I couldn't hide enough of my company's profit by rolling it into other things like...the miata(company car cough cough). My accountant was like...so can you find anything you forgot to add to the 2013 fiscal year? That would really help you.

I'm both happy and sad when my company does well.
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Old 02-20-2014, 07:59 AM
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Originally Posted by Ryan_G
Lol state income taxes. Blue state post.
Meh, plenty of red states have state income tax (Yay OK). But the ones that don't just have other taxes that make up for it.

For instance TX has no state income tax, but the property tax is 2x higher than it is in OK.
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Old 02-20-2014, 09:08 AM
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Originally Posted by Ryan_G
Lol state income taxes. Blue state post.
Yeah you're right. I shouldn't have to pay my hard earned money to the government to help other people!

Oh

wait.

CNBC report: Florida gets more federal funds than any other state | Tampa Bay Times
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Old 02-20-2014, 09:55 AM
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Originally Posted by y8s
Yeah you're right. I shouldn't have to pay my hard earned money to the government to help other people!

Oh

wait.

CNBC report: Florida gets more federal funds than any other state | Tampa Bay Times
Remove social security and the space program/military installations and I bet we drop to mid-pack or less. Your article says most of it is in Socialist Security.
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Old 02-20-2014, 10:33 AM
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Originally Posted by sixshooter
Remove social security and the space program/military installations and I bet we drop to mid-pack or less. Your article says most of it is in Socialist Security.
it's because of all the olds down there.
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Old 02-20-2014, 11:47 AM
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Originally Posted by Ryan_G
Lol state income taxes. Blue state State that actually has enough revenue to maintain its roads and properly fund its schools post.
FTFY.
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Old 02-20-2014, 11:52 AM
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Originally Posted by Joe Perez

FTFY.
Have you seen Florida roads? They are smooth as butter for the most part. I can't tell you the last time I saw a decent sized pothole on a public road down here.

My public high school was ranked 22 in the nation when I graduated in 08' so I'm not complaining.
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Old 02-20-2014, 11:53 AM
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Originally Posted by Ryan_G
Have you seen Florida roads? They are smooth as butter for the most part. I can't tell you the last time I saw a decent sized pothole on a public road down here.
How many days a year does the ground freeze?
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Old 02-20-2014, 12:10 PM
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Originally Posted by Leafy

How many days a year does the ground freeze?
I was just responding to Joe's point. The underlying reasons are none of my concern.
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Old 02-20-2014, 12:23 PM
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Roads have really gone to hell up here this year. Long periods of well below freezing combined with more than usual salting has opened up craters that will bend a wheel.

At least the shops are going to get more money for alignments this spring.
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Old 02-20-2014, 01:01 PM
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Originally Posted by rleete
Roads have really gone to hell up here this year. Long periods of well below freezing combined with more than usual salting has opened up craters that will bend a wheel.

At least the shops are going to get more money for alignments this spring.
This is why I love Utah. We put a big amount of our states budget towards infrastructure and road maintenance. A pot hole doesn't really exist in Utah.

I was shocked how bad the roads were driving the Miata back from AL.
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Old 02-21-2014, 07:08 AM
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Originally Posted by rleete
Roads have really gone to hell up here this year. Long periods of well below freezing combined with more than usual salting has opened up craters that will bend a wheel.
Sidebar: As someone that works with roadbuilders, that's an engineering design problem. Plenty of countries in northern Europe have good roads even though the winters are cold and harsh. IF the responsible municipality or state was willing to spend the money and to specify the design parameters properly then the roads would last. The road base is roughly 3 times as thick and engineered completely differently under the unrestricted speed sections of the Autobahn than the typical US interstate.
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Old 02-21-2014, 07:18 AM
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And in Florida, I-75 is in fairly good shape, mostly because lots of federal money gets spent on it. The B-roads, by comparison, tend to be pretty horrible in some places.

And don't get me started on Texas. I remember driving though the Dallas suburbs in a moving truck years ago and hitting a road that might as well have just been cluster bombed. Thought it was going to swallow the truck whole.
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