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F... Filing Taxes

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Old 02-05-2013, 11:41 AM   #16
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Re: F... Filing Taxes

I do my own taxes by hand because i need to know basic/general income tax stuff for work. Doing it each year helps with keeping me fresh. But its definitely a major pain, just getting everything together is a significant undertaking. Which brings me to my one political point...... The amount of intellectual resources America is forced to waste on everything income tax related is horrendous. Most CPA's are pretty smart dudes, imagine if they were spending their time doing something much more significant in society. I believe our people are America’s best natural resource and it seems like we are wasting so much of it with our ridiculously income tax requirements.

Alright with that said, if you are lower income and dont feel like doing your taxes check out VITA:

http://www.irs.gov/Individuals/Free-Tax-Return-Preparation-for-You-by-Volunteers

I did some volunteering with them back in the day and its a well run program. Completely free. They do everything for you (i think state too). Just make sure you ask them ahead of time exactly what youre supposed to bring. Some places allow walk ins, others require appointments. I believe you are supposed to have income of up 50k or so (although the DC area may be higher).

Another option is to just send all your crap to the IRS. I had a lengthy conversation with an IRS guy a year or so ago and they will do your taxes for you. Just fill out the basics with a crayon and send them everything paperclip’d to a note that says "Thanks!". This really only works for people with simple tax returns, because you may know something the IRS doesn’t and miss out on a deduction or credit.

I think everyone should do taxes by hand because it helps you stay in touch with how monstrousness our tax code has become. Also, making it easy on the IRS to do you taxes by e-filing just makes it easier for the tax code to become less easy for you. Even if you do everything on turbo tax or with an accountant, I would suggest printing it out and mailing it in instead of submitting it electronically. Think about the issues it would cause if everyone like Firstdown sent in their 3k tax return by mail instead of electronic delivery.

Doing your taxes by hand also helps you become aware of additional deductions you may be entitled to that you otherwise would not have caught. It can also help you get a earlier start for next year so you can plan accordingly and take advantage of the social incentives the government is offering.
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Old 02-05-2013, 11:42 AM   #17
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Re: F... Filing Taxes

BHA, short of getting a pitbull attorney and have them fix it (at great cost) you're just going to have to be patient. These people can make your life hard.
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Old 02-05-2013, 12:14 PM   #18
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Re: F... Filing Taxes

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Originally Posted by firstdown View Post
Not for everyone. Even though Obama has said over and over again he will not raise taxes on anyone making under $250,000 he has.

Limitations - The credit is limited if your modified adjusted gross income is above a certain amount. The amount at which this phase-out begins varies depending on your filing status. For married taxpayers filing a joint return, the phase-out begins at $110,000. For married taxpayers filing a separate return, it begins at $55,000. For all other taxpayers, the phase-out begins at $75,000. In addition, the Child Tax Credit is generally limited by the amount of the income tax you owe as well as any alternative minimum tax you owe.
I believe he said he wouldn't raise income taxes on anyone making under $250,000.
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Old 02-05-2013, 01:27 PM   #19
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Re: F... Filing Taxes

First thing I will say is please don't turn this into a political thread


first line in the first post
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Old 02-05-2013, 02:58 PM   #20
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Re: F... Filing Taxes

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First thing I will say is please don't turn this into a political thread


first line in the first post
If it didn't go politically it probably had ended several post ago.


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Old 02-05-2013, 03:10 PM   #21
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Re: F... Filing Taxes

Yeah, no more Obama talk here.

I am another fan of TaxACT. Even if you MUST pay for something, they are cheaper than other places like TurboTax, and their free software works just fine.
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Old 02-06-2013, 10:44 AM   #22
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Re: F... Filing Taxes

My Dad and I usually split a copy of TurboTax (I file MD electronically on their website, and since I usually owe less than $100, I file Federal by mail as late as I can) and haven't had any issues. My taxes are pretty straight forward (homeowner, 2 kids, charitable donations, dependent care flex spending), so doing them myself, while a pain in the ass, isn't too bad.

I worked for a local Tax Prep place for a few weeks (2nd job, ended up getting another sidejob working for my wife's company), and that really gave me piece of mind that what I've done using TurboTax is spot on.
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Old 02-06-2013, 11:20 AM   #23
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Re: F... Filing Taxes

im gonna try to claim my pup this year. poor puppy cost me an arm and leg this past year
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Old 02-06-2013, 03:32 PM   #24
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Re: F... Filing Taxes

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Originally Posted by Chico23231 View Post
im gonna try to claim my pup this year. poor puppy cost me an arm and leg this past year
Yeah that would be tax fraud. I don't take kindly. You might as well be speeding in the left lane. I would find out your real name and fight my guts out to sic the IRS on you.
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Old 02-06-2013, 03:57 PM   #25
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Re: F... Filing Taxes

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Originally Posted by Schneed10 View Post
Yeah that would be tax fraud. I don't take kindly. You might as well be speeding in the left lane. I would find out your real name and fight my guts out to sic the IRS on you.
You sound most passionate Don Quixote about those windmills.

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Old 02-06-2013, 10:36 PM   #26
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Re: F... Filing Taxes

well, working 6 months out of the year paid off. i got back nearly 1 month's take home
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