Official Tax Season Thread? vol Splash Out m8

[jaymosenvied]

Gonna do mine later. Not hurting for the cash right now.

 

[fatpat1251]

I've done like 5 different calculators and they all range from 7K to 2K.... I'm just gonna get my tax guy do this thug thizzle...

 

[wallyhopp]

The taxes you’re getting a refund for is based on the old tax bill so I have no idea what you’re talking about

You probably made more money this year so you’re in a higher bracket. Or you took some aggressive credits and deductions last year that you shouldn’t have or you were eligible or you are no longer eglible for those with the higher bracket or you just forgot to take them this year.

Taxes aren’t some rocket science for individuals until you have to start tax planning inheritances and such. They are actually pretty damn simple for 75% of the population.

TurboTax has this taxcaster app. You plug in a few basic numbers and you can fool around with the rest. Then at the end you can look at The review page and it gives you a breakdown as to your exemptions, taxable income, deductions, and credits. It even has an area to show you 2018 changes.

You’re right. It's definitely not rocket science for most out there.

Most middle class families with a few kids should be with holding almost NOTHING from their paychecks. I threw in a figure of $52,000 for a family of six. Withholding zero taxes, they still get a $700 refund, so refunds are inevitable. Yet the wage bracket at zero allowances shows the government withholding $86/ week. That's about $4,400 more that they paid than they should have. And now they think the government is giving them free money. $5,100 refund looks nicer on paper but it's not free money.

Now a married couple without kids may actually be liable for $4k in taxes, so withholding zero makes sense. Two kids and at $86/ paycheck taken out is some $1800 in over payment when the year is through.

Everyone is different and year to year can change. But don’t just give it to some tax guy or company without knowing what’s going on. A lot of times you just simply overpaid all year and your tax guy did nothing. What you owe or are liable for is not a magic #. Know just a little about your situation before thanking anyone.

 

[jthagreat]

I'm doing the one th

I've done like 5 different calculators and they all range from 7K to 2K.... I'm just gonna get my tax guy do this thug thizzle...

I'm doing the one that said $7K lol

 

[360waves]

I usually get a return around 1.5k which isn't much but ill probably invest it in Ethereum or Bit.

 

[Smokecitykicks]

Is TurboTax that bad?

 

[snax91]

Finished mine last night using FreeTaxUSA, I liked it better than TurboTax. Getting a refund from the Fed, but owe to IL

 

[fatpat1251]

only made out with about 3600 this year... these calculators are hit and miss

 

[freshpairs]

Fed hit yesterday. 7 day turnaround for CA and 8 for fed was quick

 

[2423]

Is it easy to do turbo tax or any other one on your phone? I wanna try to do my own this year.

 

[W)taps]

got my fed today.. went straight to savings.

 

[adobecs4]

Is it easy to do turbo tax or any other one on your phone? I wanna try to do my own this year.

Yes. You can enter everything line by line. Sometimes you can snap a picture of the w2 and it'll put all the info in.

 

[adobecs4]

Federal hit the bank account this morning

 

[$tatus $ymbol]

Are you able to amend for free on TurboTax? Need to do the daycare credit

 

[Ritchie X Rich]

I have a 1099-Misc. I believe last year Turbo Tax charged for trying to file with 1099 and doing mileage deductions or whatever. So I skipped that and I did it on FreeTaxUSA for free. I been out of the loop for this year, so does anyone know if this is the same? Does FreeTaxUSA still let you file your 1099 for free and do your deductions etc?

 

[untouchable jc]

Got my W-2 and waiting for my mom to file it with the accountant. She's hating because I'm using the money on a pendant for my chain

 

[CJMcfly26]

Made $48k got to pay $1400. Not claiming my son really killed me. There has to be a better way.

 

[tkthafm]

Still waiting for my brokerage statements, td ameritrade slow with it

 

[riverdale road]

Me & the wife getting back like $3200 between state and federal. Filed last Wednesday still say processing. Wait continues

 

[willie mcfly22]

State hit this morning. I’m officially done for 2017...until next year, which should be a lot more interesting lol

 

[wallyhopp]

Still waiting for my brokerage statements, td ameritrade slow with it

Due by February 15th. Places waiting until the last second.

So this applies to the CD version of turbotax. I mentioned you are allowed 5 federal efiles and 1 state. If you already used one state, don't drop the $20 they want to charge you with.

As you go through the filing part, make sure you select DO NOT FILE STATE AT THIS TIME. The key is to find your state tax access website and file through there for free. My states website is pretty basic. But it lists PIT 1 box 1 for example. Here is where you jump back to TurboTax and at the top there is an icon for FORMS (you can jump back to easy at any time). Scroll down and youll see your state forms. Double click the arrow and it's basically everything the state website needs. Pit-adj, pit-rc, pit-1 etc.

TT does everything for you but the efile portion. I was able to match TurboTax to the dollar via my state website. Took a half hour but saved myself $20.

 

[6 Rings G.O.A.T.]

I still need to file..

 

[you go boy]

for those who got your fed back how long did it take? my account should file mines this weekend

 

[hoosier bad boy 11]

I got approved Saturday they said they should be sending my money on Thursday. States taking forever I’m surprised I’m getting my federal back first.

 

[Teknoman]

Looking at the amount of taxes I pay yearly is depressing.