Part of good financial plan is being organized and ready for tax time. For people who start looking at their taxes after the year is over, you may be in for a rude awakening! Plus, it's never a good idea to give the IRS a interest free loan for the year, check your allowances throughout the year. The IRS has a good witholding calculator on their website!
I have all kinds of complications - multiple jobs, then self-employed, rental real estate - and none of the deductions - still renting an apt...frustrating!!!
I am extremely organized - I can tell you exactly where any object is in my house. I also love Codes (I like bankruptcy too) - it's like unlocking a puzzle, and the prize (if you did it right) is a refund! Yes I know refund means you paid too much but we have newly begun paying student loans & have had unpredictable incomes, so EITC always kicks in. Next year with both of us working full time, it might become a sad time!
I've always done my own taxes if the year was normal. When I moved or something more complicated, I'd go to Jackson-Hewitt. I like doing my own return; I know what's going on a little better. The forms are not as confusing as most people seems to think they are, you just have to set aside a block of time so you don't feel rushed and read the booklet that comes with the forms.
Having said all that, I'm still nervous at tax time and this usually manifests as procrastination - I don't think I've ever mailed my taxes before April 10th, even though I'm always due a return.
Not so much the process, as the fact I can check it off my list. I'm getting antsy right now, waiting for all the paperwork to trickle in. Once everything arrives we can figure out not only how much we owe, but how harvested losses from last year carry forward, and how much we can put in a Roth IRA (we were right at the income limit last year, and I think again this year). I like having all my ducks in a row, and not knowing irks me. Looking forward to tax time.
Having to gather all the paperwork, sit down and actually think about all the W-2s and things... it's mostly just a pain in the butt for me. I always owe a little bit of money now that I'm working full-time.
Actually, I just got married. Maybe I can get my husband to take care of this chore now...
I don't mind doing my taxes. I worked for a lawyer that did taxes so learned to do ours. I file online, so very easy. Usually get a refund, which is great.
I used to have lots of taxes taken out of my paycheck. Then I read somewhere that this is a bad idea: it's like giving the government a free loan. So I chewed on that tidbit of information and decided I could better invest my money elsewhere so it was working FOR ME during that time.
Having been unemployed since April, having rented out one of the bedrooms to our house, having converted a traditional IRA into a Roth IRA (I didn't know at the time that if I'd waited until 2010 I could defer the taxes on that! I'm still cursing my financial advisor for that one!), and a few other things, I know I'm going to owe money. I'm not sure how much, and I'm still unemployed, so I'm *really* not looking forward to it this year!
I used to look forward to it, but over the years, my taxes have gotten considerably more complicated, and now I dread it! I've never really understood looking fwd to a big refund. From my perspective, if the refund is big, I've done something wrong, because that money could have been in the bank earning interest all along! I try to break even or owe a bit.
Not looking to it as much as last year-- Last year, my returns were ridiculously high since I had all the kids adoptions finalized and got to refile some stuff from 2008 to get that tax money back. Thank heaven they were since it gave me a feeling of security when my department was let go- and I was jobless for 3 months! Ultimately, the money was used for siding and to keep a decent emergency fund on hand.
This year, I have some unemployment that was not taxed at the time it was received- so I may owe.
Since I'm young, single, and don't own a house or have a lot of investments, I don't mind tax time. And since I have money withheld during the year, I always get a refund. It's kind of nice to have a small influx of money in the spring. :)
I have a database that I use every night before going to bed, where I itemize eveerything I have spent that day---down to the 50 cents for a newspaper. At the same time, I note taxable items and the database gives me a number to put on the receipt. I have an envelope for every month of the year, so when tax time comes it is very easy for me to do the taxes. Everything is already tallied and coded.
I do enjoy tax season. We always get a big return and I like to do as much as I can to make sure that happens. The secret is to stay as organized as possible during the year.
I've gotten pretty used to filing and it's not that difficult, but I always end up getting questions from relatives, and half of them expect me to do their taxes for them. That can be a little frustrating. I'm not looking forward to this year's because I'll have to do mine early since I'll be on vacation over tax day. I guess that's motivation to not procrastinate!
Dreading doing our taxes this year as we filed bankruptcy in 2009. Not sure how bankruptcy will affect the return and I don't want to spend time finding out. Usually I use TaxAct, this year I may have someone else do them. I just want it done.
I think its more likely they'll steal the entire bag with the gun in it.
Our airport had less than 1 in 100,000 rate of theft of baggage. Thats pretty low. If you've got valuable items then carry them on your person. Buying guns to act as insurance against a 1 in 100,000 occurrence doesn't seem too practical.
I consider it a yearly math problem that I get to solve and find new ways to keep more of my taxes. I'm probably one of those rare folks looking for the latest tax rules right after Thanksgiving to see what I can do before the end of the year to keep more.
I USED to LOOOOVE it when I had the EZ form to fill out. Now that I have a house I have to start looking into the house tax rules and how to work the appraisal process... argh.
Yes, we certainly do. We get back a nice return and usually use it to pay down/off debts and take care of incidental expenses throughout the year that are not included in the budget. This year, we are using the tax refund check to move.
I actually kind of dig tax time. I did my own taxes last year, and this year, I got married and we bought a house, so the government owes us a lot of money. I want to hurry up and get my return filed so I can get my hands on it!
I sorta do. I have a taxman who knows all the loopholes for my industry. He plays around with numbers and usually gets me money -- enough to cover his fee!
No way! Who does? The only thing worse than having to pay taxes is having to tabulate them (or paying someone $$$ to do it for you)!
Part of good financial plan is being organized and ready for tax time. For people who start looking at their taxes after the year is over, you may be in for a rude awakening! Plus, it's never a good idea to give the IRS a interest free loan for the year, check your allowances throughout the year. The IRS has a good witholding calculator on their website!
I have all kinds of complications - multiple jobs, then self-employed, rental real estate - and none of the deductions - still renting an apt...frustrating!!!
Many thanks for the tips on buying fresh fish. It really is difficult these days to find good fish. Off the the market for me...
I am extremely organized - I can tell you exactly where any object is in my house. I also love Codes (I like bankruptcy too) - it's like unlocking a puzzle, and the prize (if you did it right) is a refund! Yes I know refund means you paid too much but we have newly begun paying student loans & have had unpredictable incomes, so EITC always kicks in. Next year with both of us working full time, it might become a sad time!
I've always done my own taxes if the year was normal. When I moved or something more complicated, I'd go to Jackson-Hewitt. I like doing my own return; I know what's going on a little better. The forms are not as confusing as most people seems to think they are, you just have to set aside a block of time so you don't feel rushed and read the booklet that comes with the forms.
Having said all that, I'm still nervous at tax time and this usually manifests as procrastination - I don't think I've ever mailed my taxes before April 10th, even though I'm always due a return.
Not so much the process, as the fact I can check it off my list. I'm getting antsy right now, waiting for all the paperwork to trickle in. Once everything arrives we can figure out not only how much we owe, but how harvested losses from last year carry forward, and how much we can put in a Roth IRA (we were right at the income limit last year, and I think again this year). I like having all my ducks in a row, and not knowing irks me. Looking forward to tax time.
Having to gather all the paperwork, sit down and actually think about all the W-2s and things... it's mostly just a pain in the butt for me. I always owe a little bit of money now that I'm working full-time.
Actually, I just got married. Maybe I can get my husband to take care of this chore now...
I don't mind doing my taxes. I worked for a lawyer that did taxes so learned to do ours. I file online, so very easy. Usually get a refund, which is great.
I used to have lots of taxes taken out of my paycheck. Then I read somewhere that this is a bad idea: it's like giving the government a free loan. So I chewed on that tidbit of information and decided I could better invest my money elsewhere so it was working FOR ME during that time.
Having been unemployed since April, having rented out one of the bedrooms to our house, having converted a traditional IRA into a Roth IRA (I didn't know at the time that if I'd waited until 2010 I could defer the taxes on that! I'm still cursing my financial advisor for that one!), and a few other things, I know I'm going to owe money. I'm not sure how much, and I'm still unemployed, so I'm *really* not looking forward to it this year!
I used to look forward to it, but over the years, my taxes have gotten considerably more complicated, and now I dread it! I've never really understood looking fwd to a big refund. From my perspective, if the refund is big, I've done something wrong, because that money could have been in the bank earning interest all along! I try to break even or owe a bit.
Not looking to it as much as last year-- Last year, my returns were ridiculously high since I had all the kids adoptions finalized and got to refile some stuff from 2008 to get that tax money back. Thank heaven they were since it gave me a feeling of security when my department was let go- and I was jobless for 3 months! Ultimately, the money was used for siding and to keep a decent emergency fund on hand.
This year, I have some unemployment that was not taxed at the time it was received- so I may owe.
Since I'm young, single, and don't own a house or have a lot of investments, I don't mind tax time. And since I have money withheld during the year, I always get a refund. It's kind of nice to have a small influx of money in the spring. :)
I have a database that I use every night before going to bed, where I itemize eveerything I have spent that day---down to the 50 cents for a newspaper. At the same time, I note taxable items and the database gives me a number to put on the receipt. I have an envelope for every month of the year, so when tax time comes it is very easy for me to do the taxes. Everything is already tallied and coded.
I do enjoy tax season. We always get a big return and I like to do as much as I can to make sure that happens. The secret is to stay as organized as possible during the year.
I've gotten pretty used to filing and it's not that difficult, but I always end up getting questions from relatives, and half of them expect me to do their taxes for them. That can be a little frustrating. I'm not looking forward to this year's because I'll have to do mine early since I'll be on vacation over tax day. I guess that's motivation to not procrastinate!
I would also think that a locked case is a clear sign to a potential baggage thief that there is a valuable gun inside the case for them to steal.
I always have additional money withheld from my paycheck, so I look forward to the return each year!
Dreading doing our taxes this year as we filed bankruptcy in 2009. Not sure how bankruptcy will affect the return and I don't want to spend time finding out. Usually I use TaxAct, this year I may have someone else do them. I just want it done.
I think its more likely they'll steal the entire bag with the gun in it.
Our airport had less than 1 in 100,000 rate of theft of baggage. Thats pretty low. If you've got valuable items then carry them on your person. Buying guns to act as insurance against a 1 in 100,000 occurrence doesn't seem too practical.
I consider it a yearly math problem that I get to solve and find new ways to keep more of my taxes. I'm probably one of those rare folks looking for the latest tax rules right after Thanksgiving to see what I can do before the end of the year to keep more.
I USED to LOOOOVE it when I had the EZ form to fill out. Now that I have a house I have to start looking into the house tax rules and how to work the appraisal process... argh.
Yes, we certainly do. We get back a nice return and usually use it to pay down/off debts and take care of incidental expenses throughout the year that are not included in the budget. This year, we are using the tax refund check to move.
I actually kind of dig tax time. I did my own taxes last year, and this year, I got married and we bought a house, so the government owes us a lot of money. I want to hurry up and get my return filed so I can get my hands on it!
I sorta do. I have a taxman who knows all the loopholes for my industry. He plays around with numbers and usually gets me money -- enough to cover his fee!