Tax Time

David · #1 02-23-2006, 12:20 PM

****. It's just about that time again.

I think you get a deduction if you bought a hybrid in 2005. I must check on that.

I took Suze Orman's advice to cut back on 401(k) contributions & use that money to fund a Roth IRA. I wonder what that will do to me on my income tax filing. 401 is pre-tax & Roth is after-tax. That Suze Orman had better be right, that chirping magpie.

hayley · #2 02-23-2006, 12:28 PM

My refund this year is almost a third of what it was last year. I'm a little upset. Last year was the last of my education credits, I guess.

HomerMcvie · #3 02-23-2006, 01:35 PM

I finally have all my paperwork totalled up, to take to my accountant. Being self-employed sucks! Paying in estimated taxes quarterly, hanging on to every little receipt you're handed in your lifetime, never getting a refund(always owing).....

Why didn't "I" win that damned Powerball?

skcin · #4 02-23-2006, 01:38 PM

Quote:

Originally Posted by hayley

My refund this year is almost a third of what it was last year. I'm a little upset. Last year was the last of my education credits, I guess.

Mine was too. Husband's new job made a clerical error & put him as claiming 1 when it should have been 0. F*ckers.

wondergirl9847 · #5 02-23-2006, 01:50 PM

I didn't even know what it meant, but now I do. They put me as S5, when it should have been 0!! I am getting back 89 bucks, thanks to H&R Block. If I had filed on my own, I calculated it up to owing like 175 bucks. Not sure what I did wrong, but I stayed with the online thing.

SuzeQuze · #6 02-23-2006, 01:53 PM

Quote:

Originally Posted by hayley

My refund this year is almost a third of what it was last year. I'm a little upset. Last year was the last of my education credits, I guess.

Mine was a couple hundred less even though my deduction was larger. I don't know how the hell that happened. I even made more $ and paid more taxes!

gldstwmn · #7 02-24-2006, 11:52 AM

Quote:

Originally Posted by HomerMcvie

I finally have all my paperwork totalled up, to take to my accountant. Being self-employed sucks! Paying in estimated taxes quarterly, hanging on to every little receipt you're handed in your lifetime, never getting a refund(always owing).....

Why didn't "I" win that damned Powerball?

The receipt thing drives me crazy. There's got to be a better way.

DavidMn · #8 02-24-2006, 12:28 PM

Quote:

Originally Posted by wondergirl9847

I didn't even know what it meant, but now I do. They put me as S5, when it should have been 0!! I am getting back 89 bucks, thanks to H&R Block. If I had filed on my own, I calculated it up to owing like 175 bucks. Not sure what I did wrong, but I stayed with the online thing.

smart move there.

DrummerDeanna · #9 02-25-2006, 09:07 PM

For the first time since I became a tax payer I owe

But with my student loan interest and other charitable donations my amount owed is only like 58 bucks or so...not too bad - but I'm used to getting money BACK! Ugh...I guess it works out better in the long-run because I get a bit more money each month?

I don't even know how all this crap works. I hope I never get audited lol.

estranged4life · #10 02-25-2006, 09:30 PM

since we are awaiting medical records so we can claim mileage for medical visits...I do know I keep a jar of KY Jelly nearby everytime I do our tax papers cause we always get SCREWED thanks to the "marriage penalty" BS year-after-year...

Oh, An the lil' bone/refund check that the state of Oklahoma threw to those who had to pay (Single filers received $45 Married/Joint filers received $90) tax last year has to be claimed on the Federal Form as "Other Income"...What's bad is that if you file 1040EZ there is no "Other Income" line, So you're double screwed in that case.

DavidMn · #11 02-26-2006, 05:11 PM

Quote:

Originally Posted by estranged4life

since we are awaiting medical records so we can claim mileage for medical visits...I do know I keep a jar of KY Jelly nearby everytime I do our tax papers cause we always get SCREWED thanks to the "marriage penalty" BS year-after-year...

Oh, An the lil' bone/refund check that the state of Oklahoma threw to those who had to pay (Single filers received $45 Married/Joint filers received $90) tax last year has to be claimed on the Federal Form as "Other Income"...What's bad is that if you file 1040EZ there is no "Other Income" line, So you're double screwed in that case.

That's not a bad lube, trust me.....