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Post by MichyM on Jul 11, 2020 19:56:07 GMT
And transferred to the IRS, WOOT!
This is the second year I haven't hired an accountant. I don't know why, but I really psych myself out about doing them, so I waited until nearly the last minute and in reality it took barely over 2 hours.
Next year I need to remember that it's not that bad. I mean seriously, Turbo Tax makes it almost foolproof. And there's no reason to put it off due to $$$ owed. I usually come out close to even.
Now, hopefully I have't been messing them up these last 2 years...aka get audited!<----- knocking wood.
Anyone else still working on them? If so, you have my deepest sympathies!
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Post by Darcy Collins on Jul 11, 2020 20:02:16 GMT
I did mine last week. Still need to print and cut a check which I won't send until July 15th at 4:59.
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Post by MichyM on Jul 11, 2020 20:08:08 GMT
I did mine last week. Still need to print and cut a check which I won't send until July 15th at 4:59. HA! I like that  |
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Post by Darcy Collins on Jul 11, 2020 20:12:34 GMT
I did mine last week. Still need to print and cut a check which I won't send until July 15th at 4:59. HA! I like that I'd send it at 11:59 like the old days if the post offices still stayed open, but now that everyone efiles there aren't any post offices with extended hours for tax day. |
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garcia5050
Pearl Clutcher
Posts: 2,773 
Location: So. Calif.
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Post by garcia5050 on Jul 11, 2020 20:17:44 GMT
I did mine last night. For the second year ever, we have to pay. And not a little. DH thinks we need to go back to a tax preparer, but I don’t think it will make much of a difference (we’re just a basic 2 job, one house household). I think we’ll just end up paying a huge prep fee. I love turbo tax, and I think it’s fine. It’s the tax rules that have screwed us.
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Post by **GypsyGirl** on Jul 11, 2020 20:17:49 GMT
Me! We are using Turbo Tax for the third year. All the information is in there, I just need to go through everything one more time, then write the check  . Planning to do that tomorrow. |
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peaname
Pearl Clutcher
Posts: 3,390
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Post by peaname on Jul 11, 2020 20:19:04 GMT
I’m keeping my money a few more days.
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Post by freecharlie on Jul 11, 2020 20:21:40 GMT
I did my state taxes last week. We got a refund from federal due to the solar panels
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Post by MichyM on Jul 11, 2020 20:26:17 GMT
Oh, I'm feeling much better about my procrastination already, thank you For those who use Turbo Tax, did you have any difficulties importing your tax information from your banks/investment accounts? One worked like a charm for me, the other two I just couldn't get brought over to TT so I had to enter the amounts manually. Not a big deal, but it was frustrating. |
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Loydene
Pearl Clutcher
Posts: 2,639
Location: Albuquerque, New Mexico
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Post by Loydene on Jul 11, 2020 20:53:28 GMT
I started mine -- and find that I do not have some 1099 forms. I've asked the person to scan and email them -- and they "hope" to get to it Monday. Sigh ........ It is my fault - I know that I saw them earlier, but I can't find them now!
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Post by Dixie Lou on Jul 11, 2020 21:01:30 GMT
I did mine last week. I used Turbo Tax again and am getting a refund. I also psych myself about doing them and put doing it off as long as possible. I do like Turbo Tax.
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Post by aj2hall on Jul 11, 2020 21:04:38 GMT
I did mine last night. For the second year ever, we have to pay. And not a little. DH thinks we need to go back to a tax preparer, but I don’t think it will make much of a difference (we’re just a basic 2 job, one house household). I think we’ll just end up paying a huge prep fee. I love turbo tax, and I think it’s fine. It’s the tax rules that have screwed us. I’m sure it varies by area, but we just picked up ours from our accountant. We started receiving income from a trust and it just became too complicated. Only $300 for federal & state, including K99 and some other documents. The accountant has his own business, not affiliated with H&R Block or another company. For us, it was worth the peace of mind knowing they would be done right and we didn’t have to stress about it. |
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Post by finsup on Jul 11, 2020 21:10:21 GMT
I did mine last night. For the second year ever, we have to pay. And not a little. DH thinks we need to go back to a tax preparer, but I don’t think it will make much of a difference (we’re just a basic 2 job, one house household). I think we’ll just end up paying a huge prep fee. I love turbo tax, and I think it’s fine. It’s the tax rules that have screwed us. I’m sure it varies by area, but we just picked up ours from our accountant. We started receiving income from a trust and it just became too complicated. Only $300 for federal & state, including K99 and some other documents. The accountant has his own business, not affiliated with H&R Block or another company. For us, it was worth the peace of mind knowing they would be done right and we didn’t have to stress about it. I was feeling guilty at how many things our tax preparer had to remind us or ask us about this year, but then I got their bill and I don't feel bad anymore. |
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Post by salem on Jul 11, 2020 21:17:03 GMT
We usually have them done, but of course this year that wasn’t happening, plus I could put it off a couple of months? I’m in. 🙄🤣
I used Turbo Tax about a week and a half ago and we already got our refund. DH works in MA though and that return freaks me out. Did that on TT too and they are pulling the whopping $3 we owe tomorrow.
My biggest accomplishment during this pandemic. Lol
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leeny
Pearl Clutcher
Posts: 4,782
Location: Northern California
Site Supporter
Jun 27, 2014 1:55:53 GMT
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Post by leeny on Jul 11, 2020 21:21:15 GMT
I did mine last night. For the second year ever, we have to pay. And not a little. DH thinks we need to go back to a tax preparer, but I don’t think it will make much of a difference (we’re just a basic 2 job, one house household). I think we’ll just end up paying a huge prep fee. I love turbo tax, and I think it’s fine. It’s the tax rules that have screwed us. There is a tax withholding calculator on IRS.gov that might help you so you can adjust your withholdings. The IRS likes to charge late penalty fees but won't give us interest for our refunds/overpayments! |
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Post by myboysnme on Jul 11, 2020 21:30:46 GMT
I did them in April but just paid off DS2's tax debt. He owed $2800 because his contract job didn't hold out any federal taxes. Thank God he wa only there 6 months. He's been unemployed for awhile now which is why I paid it.
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Post by Darcy Collins on Jul 11, 2020 21:43:51 GMT
Oh, I'm feeling much better about my procrastination already, thank you For those who use Turbo Tax, did you have any difficulties importing your tax information from your banks/investment accounts? One worked like a charm for me, the other two I just couldn't get brought over to TT so I had to enter the amounts manually. Not a big deal, but it was frustrating. I always do it manually as you have to provide your login information for your financial institution. |
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Post by gale w on Jul 11, 2020 21:45:34 GMT
We have to file and pay by march 1st so ours has been done, but we haven't done our IRA contribution yet. We'll probably do it on Monday or Tuesday. I think Wednesday is the deadline?
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Post by beaglemom on Jul 11, 2020 21:50:28 GMT
We did ours and turned them in before the date got changed. Dh does them on Turbo Tax. Thankfully after upping all our deductions we only owed about a 1/3 of what we did last year. Still a lot, but not nearly as painful.
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iowgirl
Pearl Clutcher
Posts: 4,295
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Post by iowgirl on Jul 11, 2020 21:53:01 GMT
it took barely over 2 hours. Mine are due the end of February. Ugh! Taxes! In theory, I try to keep my bookwork done every month. I usually get to March before I quit. LOL Then have a major panic later in the fall and an all out crisis the day after Christmas. The last business day of the year is the absolute worst day --- THE WORST day for me. We pre-pay as much of our expenses as possible, so I am writing checks, and trying to get the last few people who haven't given me prices to pay for inputs to give me the damn bills! It's a nightmare. I have to keep track of every expense, every income and what type of income it was. If I sold a home raised breeding cow, that is different than selling stockers that we buy... etc. Then I have grain sales, etc. Between Thanksgiving and Christmas we need to know if we need more expense - so I try to get my numbers to my 'numbers guy' .. aka my CPA.. and he lets us know where we stand. So then we can decide if we want to sell any grain, or hold it until Jan 1. Or if we need to buy anything big .. which we shouldn't this year - holy hell.... we have lost a shit ton of money so far, and it's only July! LOL |
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Post by jmd74 on Jul 11, 2020 21:53:45 GMT
We paid ours in April. I just wanted to get it done!
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Post by bc2ca on Jul 11, 2020 21:58:17 GMT
We filed a few weeks ago and already have the state refund that more than covers the federal owed.  |
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basketdiva
Pearl Clutcher
Posts: 3,654
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Post by basketdiva on Jul 11, 2020 22:06:52 GMT
Oh, I'm feeling much better about my procrastination already, thank you For those who use Turbo Tax, did you have any difficulties importing your tax information from your banks/investment accounts? One worked like a charm for me, the other two I just couldn't get brought over to TT so I had to enter the amounts manually. Not a big deal, but it was frustrating. This year all my banks transferred over but my not my husband’s w-2. Some years it works and some years it doesn’t |
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snyder
Pearl Clutcher
Posts: 4,323
Location: Colorado
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Post by snyder on Jul 11, 2020 22:09:50 GMT
Other people do as I have been contacted by several to have me to their taxes for me. I have one client that always does an extension. Usually by the time October comes around to do their extended taxes, they start getting the years mixed up and forgot what happened the year before. Crazy.
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Post by ~summer~ on Jul 11, 2020 22:30:39 GMT
I’ve only done a draft of ours so I need to finish. I think we owe a few thousand....could be worse.
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Post by gale w on Jul 11, 2020 22:32:02 GMT
it took barely over 2 hours. Mine are due the end of February. Ugh! Taxes! In theory, I try to keep my bookwork done every month. I usually get to March before I quit. LOL Then have a major panic later in the fall and an all out crisis the day after Christmas. The last business day of the year is the absolute worst day --- THE WORST day for me. We pre-pay as much of our expenses as possible, so I am writing checks, and trying to get the last few people who haven't given me prices to pay for inputs to give me the damn bills! It's a nightmare. I have to keep track of every expense, every income and what type of income it was. If I sold a home raised breeding cow, that is different than selling stockers that we buy... etc. Then I have grain sales, etc. Between Thanksgiving and Christmas we need to know if we need more expense - so I try to get my numbers to my 'numbers guy' .. aka my CPA.. and he lets us know where we stand. So then we can decide if we want to sell any grain, or hold it until Jan 1. Or if we need to buy anything big .. which we shouldn't this year - holy hell.... we have lost a shit ton of money so far, and it's only July! LOL same. LOL. I always swear I'm going to keep up with the books so at the end of the year it's easy. Then in mid december dh wants to know what we made/sold so far so he knows what to prepay. oops. |
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Post by redshoes on Jul 11, 2020 23:41:51 GMT
I still need to file ours....i told myself I need to do it this weekend before the website gets bogged down. ugh
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Post by SAHM wannabe on Jul 11, 2020 23:46:35 GMT
I will work on mine tomorrow. I should be getting a refund. A story on NPR said those who are due a refund will earn interest on the refund from April 15th!
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YooHoot
Pearl Clutcher
Posts: 3,434
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Post by YooHoot on Jul 11, 2020 23:49:14 GMT
I’ll drop a check in the mail on the 14th
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Post by travelsoul on Jul 12, 2020 1:30:11 GMT
Just put our checks in the mail today. We owed a shit load so as soon as they announced the extension we immediately said we’d sit in the money until July.
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