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Old 02-10-2009, 11:57 AM   #1
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Default So whos done their taxes?

Finally sat down and did mine last night. I'm not pimping, but TurboTax is frigging amazing. I use their deluxe service which explains everything imaginable, and takes care of importing data from banks, brokerages, and W2's which really simplifies the process and saves time.

I wasn't expecting any return this year(last year I got 2500). This time I actually wound up owing 44 dollars after the refund from NJ + whats owed to IRS + whats owed to NY.

All in all I guess I should be happy, I got taken for 144 dollars this time around, 100 being what turbotax charges. Could have been worse I guess, or could have been better had I had something to write off.

How'd everyone else make out?


*Please keep your salary to yourself, this is not a dick measuring contest(that's next weeks thread)*
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Old 02-10-2009, 12:09 PM   #2
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I haven't bothered yet. I know I will owe something, so I usually worry about it the beginning of April.
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Old 02-10-2009, 12:15 PM   #3
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Just did mine yesterday and got back considerably more than I was expecting, around $2500. I updated my W4 so hopefully next year it'll come out a little closer to even.
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Old 02-10-2009, 12:20 PM   #4
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F dat turbo tax stuff. The wife and I paid $50 for both and were gettin back quite a bit.
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Old 02-10-2009, 12:25 PM   #5
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taxact.com is also pretty good if you dont get complicated.

i got complicated. i get back a LOT because I didn't estimate half a year of home ownership deductions very well.

interesting thing turbotax online does is calculate how much you can give to your 401k without decreasing your take home pay.

oh also, i'm waiting to do my taxes until AFTER the stimulus package is settled. It could mean quite a lot of money.

OH OH OH that reminds me, the first time homebuyer credit may be applicable to NON-first time buyers. holla!
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Old 02-10-2009, 12:29 PM   #6
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TurboTax - Dad buys it yearly. I paid him $30 for the usage. I got back over $5K from fed and $2K from state.
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Old 02-10-2009, 12:35 PM   #7
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I use TaxSlayer since my return is simple. I filed the day I got my W2s, didn't want it hanging over my head, and anything that happens with the stimulus package will apply to anyone that's already filed anyway like it did last year. Got back just under $900. Now I'm planning out what I can do to maximize my paycheck and minimize my return next year, I like having my money now.
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Old 02-10-2009, 12:46 PM   #8
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Quote:
Originally Posted by RotorNutFD3S View Post
I use TaxSlayer since my return is simple.
If you have a simple return, you can do it on turbo tax's website for free as well. I'm guessing it is for 1040EZ only, which is just as easy to do on paper, though.
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Old 02-10-2009, 12:53 PM   #9
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Sent every thing to my CPA yesterday. nothing in stone yet, but my calculations put me owing 12k federal, and 3k state. I guess some one has to pay for the stimulus package.
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Old 02-10-2009, 01:08 PM   #10
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Quote:
Originally Posted by Milton Tucker View Post
Sent every thing to my CPA yesterday. nothing in stone yet, but my calculations put me owing 12k federal, and 3k state. I guess some one has to pay for the stimulus package.
Getting a 1099?

---

Im kinda new to this whole tax thing, but if I understand it correctly one shouldn't be getting back or giving at the end of the year, optimally speaking. I mean if you owe, then you didnt have enough withheld, and if you are getting back then you had to much withheld.
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Old 02-10-2009, 01:30 PM   #11
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You guys getting back thousands of dollars suck at economics and need to estimate better. You're giving uncle sam an interest-free loan.

Twice a year I check my deductions and adjust them as necessary to ensure that I neither give them a free loan nor get hammered by underpayment penalties.

Between federal and state, I owe about $171.00. Filed my state return already (because that's a small refund) and will file federal before I go to sleep on 4/15.
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Old 02-10-2009, 01:47 PM   #12
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Quote:
Originally Posted by Stein View Post
If you have a simple return, you can do it on turbo tax's website for free as well. I'm guessing it is for 1040EZ only, which is just as easy to do on paper, though.
Yeah, however, I found out that with TaxSlayer I got about $15 more back. Nothing to write home about, but hey, still more money.
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Old 02-10-2009, 02:06 PM   #13
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I'm still waiting on my investment tax forms to be mailed down from our accountant/mail lady in alaska, she sucks at being prompt.
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Old 02-10-2009, 03:08 PM   #14
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Originally Posted by y8s View Post
OH OH OH that reminds me, the first time homebuyer credit may be applicable to NON-first time buyers. holla!
That would be interesting indeed. I don't see why it should be restricted to first-time buyers anyway. If the purpose of the credit is to stimulate the real estate market by encouraging people to buy, it shouldn't matter if the buyer owned before or not.

I think we had withholdings pretty accurate, but bought the house in late July. I will have to see if the mortgage interest we paid is greater than the standard deduction for married filing jointly. It should be, which means I'll get back some moolah, and probably have to adjust our withholdings again.
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Old 02-10-2009, 03:29 PM   #15
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Owe like $450-$500. Was expecting to get that much back, but apparently I didnt pay enough taxes, so now I give it to them.
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Old 02-10-2009, 03:47 PM   #16
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I like getting the refund.
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Old 02-10-2009, 03:51 PM   #17
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Quote:
Originally Posted by deliverator View Post
You guys getting back thousands of dollars suck at economics and need to estimate better. You're giving uncle sam an interest-free loan.
actually after some thought, i probably would have LOST money if I didnt let uncle sam hold onto it last year. stupid stock market.
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Old 02-10-2009, 04:16 PM   #18
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I kind of like a refund because Im bad with saving money. Giving it to uncle Sam allows me to have a big chunk at the end of the year to play with. If I had kept it, I would have blown it on little **** I didnt need, like food or alcohol... which it goes towards partly at the end of the tax year anyway.
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Old 02-10-2009, 06:28 PM   #19
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Whoops, overpaid by $12,700. Guess it's better than the other way around.

Last edited by pschmidt; 02-10-2009 at 06:41 PM. Reason: removed a multiplier.
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Old 02-10-2009, 06:37 PM   #20
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paid turbo tax 53.49 (after tax) and im getting back close to 1700$!!!!!
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