Does Anyone do Their Own Taxes?

2

Replies

  • hbrittingham
    hbrittingham Posts: 2,518 Member
    I used to have an accountant do my taxes, until he was arrested for tax fraud and sent to prison. Then the IRS audited the last three years we had filed using him. Fortunately, even though the accountant was dishonest, we weren't, so we were fine after being audited.

    Now I used Turbo Tax and have used it for the last 10 years or so. This year is going to be a bit more complicated because we are 1099d through the dog trainer we work for. But I'll figure it out like I do every year.
  • Hellbent_Heidi
    Hellbent_Heidi Posts: 3,669 Member
    I use turbo tax...Buy I always owe...Instead of the IRS holding my money...I up my exemptions to the max during the year and put it in my 401k. Why give the government an interest free loan..

    I hit the MAX in my 401k every year. It doesn't seem to help. I also only claim Married 1. It has been a regular bash fest here the last 2 years. This is year 3 of bashing.
    Depending on what you make you might want to claim single 1 or single 0...will give you less during the year but more on your return...you can claim whatever you want during the year, up to 9 exemptions without having to be reported to the IRS.....If you dont want to owe, go single 0......
    I claimed married 0 (my husband claimed single 0)..we have a mortgage, charitable contributions and we STILL owe. I just had to switch to single 0 withholding...just hoping to get closer to breaking even!

    It sucks being double income, no kids...you really get screwed!!
  • gimpygramma
    gimpygramma Posts: 383 Member
    :
    I am doing mine now. I am getting bashed about the head, face, neck and chest area.

    My questions is: did you log the extra calories burned from all the bashing about?

    :laugh: :laugh::laugh:
  • moustache_flavored_lube
    moustache_flavored_lube Posts: 849 Member
    I do my own via turbo tax. I don't think it would be much easier to have someone else do them.

    The hard part is collecting all the documentation to enter in to turbo tax. You are going to have to do this either way
  • links_slayer
    links_slayer Posts: 1,151 Member
    Yep. Takes me less than an hour (we're simpletons) and our Federal and State refunds have already been deposited.
  • cwolfman13
    cwolfman13 Posts: 41,865 Member
    Yup...I use TurboTax...well worth it, and I'm an accountant...just not a tax accountant.
  • LittleMissNerdy
    LittleMissNerdy Posts: 792 Member
    I do. I use TurboTax.
  • christinekry
    christinekry Posts: 86 Member
    I do. This is my first year itemized - since I bought a house and I'm head of household, but I'm also paying tax and penalty for a 401k withdrawal. I've worked it down to about $800 owed. I want to bash my face on my desk when I start working on it. It's been shelved for a few weeks. I'm not in the mood to finalize and send in.
  • AndreaMerrill
    AndreaMerrill Posts: 24 Member
    Yup - filed online through turbo tax on Jan 28th and it was in bank account on Feb 7th :-) Ye ha!
  • cheerforsteelers
    cheerforsteelers Posts: 686 Member
    Do mine online...did it over the weekend actually. It's easy for me but I know for other friends of mine it's more complicated so they have a tax person who sorts through everything.
  • IrishChik
    IrishChik Posts: 465 Member
    I do my own and I am self-employed. But I was also an accountant for about 15 years. So, it is pretty easy for me.
  • wendyd8918
    wendyd8918 Posts: 1
    I use HR Block online every year. It is free but mine is super easy!
  • EmilyOfTheSun
    EmilyOfTheSun Posts: 1,548 Member
    Yes, with TurboTax.
  • Lib_B
    Lib_B Posts: 446 Member
    I do mine via Turbo Tax as well. We have tons of deductions as my husband has un-reimbursed travel expenses for work; kids; childcare; mortgage; student loans; charitable contribs. But it's still a breeze if you have all your supporting docs. Takes me about 2-3 hours to complete. I also opt for the audit protection because we do deduct so much and those tend to be flagged with the IRS for audit. We have friends in the same industry who have been audited multiple times, so I want to make sure I have representation if we end up in court. Even with purchasing that option and the state filing - it's cheaper than it was when we had a CPA do it for us.
  • x_ItNeverEnds_x
    x_ItNeverEnds_x Posts: 134
    I do mine but this year will be interesting. I have to figure out how to file a 1099 and w2.
  • Liatush
    Liatush Posts: 627 Member
    I have always done my own (free through Turbo Tax). The one time I tried going to someone, I got charged $200, did not get all the money I should have and ended up audited, so now I'm back to doing my own!!

    And mine are always complicated (used to be head of household, now married filed jointly, switched jobs, have dependents, etc.), but TurboTax makes it easy to follow.
  • Liatush
    Liatush Posts: 627 Member
    I do mine but this year will be interesting. I have to figure out how to file a 1099 and w2.

    W-2 is what your job provides you so that you can file your taxes. You don't file that.
  • Lisapayne76
    Lisapayne76 Posts: 157 Member
    I do mine but I am an accountant lol
  • Hellbent_Heidi
    Hellbent_Heidi Posts: 3,669 Member
    I do. This is my first year itemized - since I bought a house and I'm head of household, but I'm also paying tax and penalty for a 401k withdrawal. I've worked it down to about $800 owed. I want to bash my face on my desk when I start working on it. It's been shelved for a few weeks. I'm not in the mood to finalize and send in.
    If you owe...no reason not to take your time (why pay the government any earlier than you have to, right?)
  • _DaniD_
    _DaniD_ Posts: 2,186 Member
    Yep, I even do my boyfriends business taxes for him.
  • ksuetorres
    ksuetorres Posts: 139 Member
    TURBOTAX. Nuff said.:smile:
  • mattagascar
    mattagascar Posts: 708 Member
    Every year...i like to see the rape building up instead of the alley style surprise.
  • Justkeepswimmin
    Justkeepswimmin Posts: 777 Member
    It's the state taxes that kill me, my husband worked in 3 different states last year...I want to CRY.
  • RunningMannn
    RunningMannn Posts: 135
    I do. This is my first year itemized - since I bought a house and I'm head of household, but I'm also paying tax and penalty for a 401k withdrawal. I've worked it down to about $800 owed. I want to bash my face on my desk when I start working on it. It's been shelved for a few weeks. I'm not in the mood to finalize and send in.
    If you owe...no reason not to take your time (why pay the government any earlier than you have to, right?)

    Exactly...I'll probably owe 1500...I'll pay a 100 bucks on the eftps site every once in awhile throughout the year..
  • RunningMannn
    RunningMannn Posts: 135
    I have a little tax story...About 15 years ago I traded stocks online..I made about 100 grand in trades..It's really not that much. Just trading 5 thousand dollars of stock back and forth several times. But I didn't add the trades to my taxes. Kind of just blew it off for whatever reason. Just a lot younger and a not so smart..LOL!!! Anyways..I couple of years later..I get a letter from the IRS saying I owed 40k..I laughed my a.s.s. off. I knew that wasn't even close..What happens is that Ameritrade only tells the IRS what you sold the stock for..They don't tell them what you bought it for..So with only half the information that's what they come up with...After I finally sat down and entered each stock trade into turbo tax. It took me awhile..Ended up owing 700 bucks plus a small penalty..
  • nyssalynne
    nyssalynne Posts: 22
    Yep, I've been doing mine since I was 16. I usually end up doing other people's too :laugh:

    Me too!

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  • Ocarina
    Ocarina Posts: 1,550 Member
    I do it through TurboTax as I will be doing enough tax forms by hand in my tax class this semester and I'm sure into the future LOL
  • pg3ibew
    pg3ibew Posts: 1,026 Member
    Thanks for all the replies. Doing the Taxes is easy. I use HR Block. It is the damn f$cking taxes I have to pay that is killing me. Because I made more than 165k but less than 250k, I lose all my deductions.
    IE: Mortgage, dependant children, college tuition, etc, etc, etc.....
    It is called AMT. Alternative Minimum Tax. I have to pay 4K between the Feds and NYC and NY State.

    In turn, all three of my over the age of 18 boys, work and go to school. They make minimum money, but they get to take the tuition deduction and because they can't be claimed on my taxes(because I make too much), they get the extra money. But of course, it still doesn't make up for what I am paying.
  • shaynak112
    shaynak112 Posts: 751 Member
    I do mine through H and R Block website download.

    Pretty sure that's what I did last year. It was pretty easy. First time doing my own taxes lol.
  • RunningMannn
    RunningMannn Posts: 135
    Thanks for all the replies. Doing the Taxes is easy. I use HR Block. It is the damn f$cking taxes I have to pay that is killing me. Because I made more than 165k but less than 250k, I lose all my deductions.
    IE: Mortgage, dependant children, college tuition, etc, etc, etc.....
    It is called AMT. Alternative Minimum Tax. I have to pay 4K between the Feds and NYC and NY State.

    In turn, all three of my over the age of 18 boys, work and go to school. They make minimum money, but they get to take the tuition deduction and because they can't be claimed on my taxes(because I make too much), they get the extra money. But of course, it still doesn't make up for what I am paying.

    I'll take 165k a year and your so called tax problems any day..

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