Welcome Guest [Log In] [Register]
Welcome to The Outside Course!

You're currently viewing our forum as a guest. This means you are limited to certain areas of the board and there are some features you can't use. If you join our community, you'll be able to access member-only sections, and use many member-only features such as customizing your profile, sending personal messages, and voting in polls. Registration is simple, fast, and completely free.


Join our community!


If you're already a member please log in to your account to access all of our features!

Username:   Password:
Add Reply
Can we all just flip a finger at the IRS????
Topic Started: Apr 14 2008, 08:56 PM (710 Views)
Giddy-up
Shunnnnn the unbeliever. Shunnnnnnnnnnnnnnnn.
[ *  *  *  *  * ]
I will crawl out & say I have never owed them.

Last year I got $2000 back--this year will be a little less cause I made more $$$.

BUT my first property tax payment is due June 1st so all my refund $$ every year goes towards paying that AND I still have to add to it. :censored:

Crawling back in to hole.... :oops:
Offline Profile Quote Post Goto Top
 
OpticalIllusion
Member Avatar
You're BANNED!
[ *  *  *  *  *  *  *  *  *  *  *  * ]
Smiles
Apr 15 2008, 06:10 AM
Jersey Fresh
Apr 15 2008, 05:29 AM
OpticalIllusion
Apr 15 2008, 05:07 AM
I had to pay again this year. Really just drives me nuts. I work a guaranteed amount of overtime each week and because Im making so much over time they screw me at the end of each year. I swear Im the only person my age thats single that ever owes money.  :angry:

I'm part of that club. But someone explain to me how someone who is a full time student and makes less than $20k a year (grad stipend), claims 0 dependents on her W2 and has no investiments, retirement, etc., still OWES taxes?????

I still don't get how that works!

You are doing your taxs wrong or who ever does them for you is doing them wrong... Because I'm in the same boat as you although I make more than 20K and I got all my taxs back from federal. Do you get 1098T form from your college? Do you also take the hope/lifetime credit on your taxs? If not you can have someone redue your taxs and send them in or your can wait till next year and have them go over the past 2 years of taxs and correct those and get the money that way. H&R block is the easyest/cheapest way to do that or if you know someone who does taxs...

See, I thought mine were wrong.... how could everyone else my age that is pretty much in the same situation (living out of parents, job, not married, no kids) always get money back and I owned. It just didnt make any sense. So this year I took my taxes to H and R Block, they said they were right. I claim 1 on my forms and take out an additional $20 each check to try to fix the owing every year thing. Once again this year I owed. The very nice lady at H&R didnt speak a whole lot of english and could only tell me to take more out, couldnt explain why I owed. The accountant for my office told me because I work so much overtime, the government is screwing me. Apparently they dont take more out immediately when you make overtime, but wait until the end of the year. So yeah, the harder you work, the more you get penalized. :angry:

And just to add to all the fun, the irs is now telling me I never filed in 2004, which I know I did. They want a copy of my receipts, which I cant provide because they were in the file cabinet at my old house and my ex refuses to give them to me. The place I was working at is no longer there, and the IRS is telling me I worked another job, which I didnt. When I went to get the info for that place, its also no longer there. So Im going to have to pay them AGAIN for 2004. HOW IS THIS FAIR?!?!?!
Offline Profile Quote Post Goto Top
 
sarafina
Schooling
[ *  * ]
After the year from hell (losing my job, going into private practice, leaving private practice, buying and selling a home in less than a year, relocating AGAIN....ow....), I'm getting a phat refund. I was FINALLY able to itemize, and it's taking a small amount of the sting out of the financial hell I was in this past year.
Next year? Not so much. Sigh.
I HIGHLY recommend an accountant. Worth every penny. He grinds his teeth at my horsie expenditures, but he's the man in my eyes.

And funnily enough, one of my friends reminded me that an old high school buddy is now the head of the IRS. Go frickin' figure.
Offline Profile Quote Post Goto Top
 
Fenway
Member Avatar
Guiding your way to Candy Mountain, since 1873.
[ *  *  *  *  *  *  *  *  *  *  * ]
OpticalIllusion
Apr 15 2008, 06:40 AM
And just to add to all the fun, the irs is now telling me I never filed in 2004, which I know I did. They want a copy of my receipts, which I cant provide because they were in the file cabinet at my old house and my ex refuses to give them to me. The place I was working at is no longer there, and the IRS is telling me I worked another job, which I didnt. When I went to get the info for that place, its also no longer there. So Im going to have to pay them AGAIN for 2004. HOW IS THIS FAIR?!?!?!

Wow! I hope you get that all straightened out. :jingles:
Your ex needs someone to kick him in his ass.... :angry:
Offline Profile Quote Post Goto Top
 
Nylar
Member Avatar
We're on a bridge, Chaaaaaaaaarlie!
[ *  *  *  * ]
This is the first year I've ever gotten a refund. It's not much, but it'll pay for some work my car needs so that I don't have to dip into the horse show fund.

Last year I owed $1.00. Can someone explain the point in THAT?
Offline Profile Quote Post Goto Top
 
Buryinghill1
Member Avatar
You're BANNED!
[ *  *  *  *  *  *  *  *  *  *  *  * ]
cindeye
Apr 15 2008, 05:51 AM
My goal in life is to pay more in taxes than Bill Gates and Warren Buffett combined.

My goal is to make so much $ I would have to pay more taxes than Bill and Warren, but have enough tax breaks to actually pay none ;)

God bless the Cayman Islands ;)
Offline Profile Quote Post Goto Top
 
equest
Schooling
[ *  * ]
i got a BIG refund.

But, I bought a home last year and I deducted all the points and interest.

At least it takes some of the "sting" out of knowing my home is probably depreciating in value :(
Offline Profile Quote Post Goto Top
 
OpticalIllusion
Member Avatar
You're BANNED!
[ *  *  *  *  *  *  *  *  *  *  *  * ]
Fenway
Apr 15 2008, 06:53 AM
OpticalIllusion
Apr 15 2008, 06:40 AM
And just to add to all the fun, the irs is now telling me I never filed in 2004, which I know I did. They want a copy of my receipts, which I cant provide because they were in the file cabinet at my old house and my ex refuses to give them to me. The place I was working at is no longer there, and the IRS is telling me I worked another job, which I didnt. When I went to get the info for that place, its also no longer there. So Im going to have to pay them AGAIN for 2004. HOW IS THIS FAIR?!?!?!

Wow! I hope you get that all straightened out. :jingles:
Your ex needs someone to kick him in his ass.... :angry:

He needs much more then a kick in the ass, trust me. If karma ever comes back around at him, he will be hit by a mac truck and left on the side of the road to be eaten by vultures.
Offline Profile Quote Post Goto Top
 
Black Tack
Member Avatar
You're BANNED!
[ *  *  *  *  *  *  *  *  *  *  *  * ]
So Optical....tell us how you REALLY feel ;)

It's ok, we hate him too. No, we don't know him, but we hate him.

This year I'm hating tax time too. We have an accountant who does it all and he's great however I think hubby did a wee woppsy and we still have a bundle to pay. Yuck :pissed: I can think of so many other ways to spend that money :cheer:

But we don't have to tally up until the end of the month. I'm assuming you guys do it today?
Offline Profile Quote Post Goto Top
 
gunnar
Member Avatar
You're BANNED!
[ *  *  *  *  *  *  *  *  *  *  *  * ]
jillintexas
Apr 14 2008, 07:56 PM
Just finished our taxes (yes, we always wait until the night before) and we OWE big time.

We took out some of our 401K money and it hurt us. Yeowch...................

<_<


J. O. Y.

Jaci, if you had known me then I would have told you not to take that 401K money! Next time give me a call my freind!! The penalties and tax make you really only get around 50% of your money, especially in a state like CA where they have their own penalty for early withdrawal!

As for taxes I hate them more than any of you!! :brickwall:

I agree that we should try to get a small refund or even owe a little! Do not let the Govt keep you money all year!! :angry:

But just wait until some of you get the stimulus money!! :clap: :unsure:
Offline Profile Quote Post Goto Top
 
Jersey Fresh
Member Avatar
Off visiting Candy Cave, be right back.
[ *  *  *  *  *  *  *  * ]
Smiles
Apr 15 2008, 06:10 AM
Jersey Fresh,Apr 15 2008
05:29 AM

You are doing your taxs wrong or who ever does them for you is doing them wrong... Because I'm in the same boat as you although I make more than 20K and I got all my taxs back from federal. Do you get 1098T form from your college? Do you also take the hope/lifetime credit on your taxs? If not you can have someone redue your taxs and send them in or your can wait till next year and have them go over the past 2 years of taxs and correct those and get the money that way. H&R block is the easyest/cheapest way to do that or if you know someone who does taxs...

Nope they are right. Part of the problem is that my dad has me on his payroll, cuts me a $3000 check each year to use for plane tickets home. He doesnt take any witholding out so usually I get about $100 back after I account for that. Also, you can only take the hope credit for the first year or two of undergraduate (or grad school, I cant remember but I wasn't eligable). The lifetime learning credit is only good if you pay tuition. Grad students dont pay tuition. We only pay about $800/semester in fees, of which the only ones you can claim with the lifetime learning credit are those considered part of tuition (in our case, not the $150 rec center fee, transit fee, health fee). And on top of that, if a scholarship covers any part of this, you have to account for that too. So at the end I get to deduct a wopping $20 even though I shelled out $100s in fees. So in the end, I owe which is ridiculios when my income is technically below the poverty line in this country.
Offline Profile Quote Post Goto Top
 
jillincolorado
Member Avatar
You're BANNED!
[ *  *  *  *  *  *  *  *  *  *  *  * ]
Steph...we didn't have a choice. We had to use it to pay off part of our mortgage...LONG story. We knew it would suck, but somehow it sucked less a year ago than it does now. :P

I do believe we made an error, but we'll find out when we send it in. We will still owe, but we did qualify for the stimulus thing, so that should take some of the sting out.

:angry: :spew:
Offline Profile Quote Post Goto Top
 
Lion1024
Member Avatar
It'll be an adventure! We're going on an adventure!
[ *  *  *  *  *  *  *  *  *  * ]
Jersey Fresh - why do you have to account for the money your Dad gives you for plane tickets? A parent is allowed to gift a certain amount to their children with no tax penalties. IIRC (and I'm not an accountant) that amount is something like $11,000. You may want to look into that and have him do it personally rather than through his company.

OI - Be careful with H & R Block. The people that they have there doing your taxes are not accountants...they are simply people who took a test and scored highly enough on it that they basically are considered qualified to use Turbo Tax. That's about the extent of it. One of my friends got royally screwed by H & R Block.
Offline Profile Quote Post Goto Top
 
OpticalIllusion
Member Avatar
You're BANNED!
[ *  *  *  *  *  *  *  *  *  *  *  * ]
Lion1024
Apr 15 2008, 12:40 PM
Jersey Fresh - why do you have to account for the money your Dad gives you for plane tickets? A parent is allowed to gift a certain amount to their children with no tax penalties. IIRC (and I'm not an accountant) that amount is something like $11,000. You may want to look into that and have him do it personally rather than through his company.

OI - Be careful with H & R Block. The people that they have there doing your taxes are not accountants...they are simply people who took a test and scored highly enough on it that they basically are considered qualified to use Turbo Tax. That's about the extent of it. One of my friends got royally screwed by H & R Block.

My mom always does my taxes, but this year after she did them I just wanted them double checked just to make sure I actually owed. They said what my mom did was correct, so Im hoping they are right too.
Offline Profile Quote Post Goto Top
 
vxf111
Member Avatar
You're BANNED!
[ *  *  *  *  *  *  *  *  *  *  *  * ]
I don't know how much H&R block costs, but I have a private accountant do mine. She is a terrific person, very thorough, and always comes up with good ideas I wouldn't have thought of. The bill is usually in the $15-250 range. Well worth it. I don't know, is H&R block much much cheaper (I genuinely have no clue, never even been in an H&R block)? If not, you might forget about using them and try a CPA.
Offline Profile Quote Post Goto Top
 
1 user reading this topic (1 Guest and 0 Anonymous)
Go to Next Page
« Previous Topic · The Hay Loft · Next Topic »
Add Reply