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Thursday 3 – Taxes

Well, once again the due date for taxes comes.  And once again I’m scrambling to get them done.  So here’s a quick Thursday 3 about taxes (because I want to go sleep already).

 

  1. How do you do your taxes (tax service, accountant, TurboTax, etc.)
  2. When did you finish your taxes?
  3. Post anything related to taxes.

Here’s my replies:

 

  1. How do you do your taxes (tax service, accountant, TurboTax, etc.)
    I use TurboTax.  I buy the CD from Costco, load it up, and do it reluctantly.
  2. When did you finish your taxes?
    Last night.  Actually, I spent most of Good Friday doing our taxes.  That includes mine/Paula, and my two daughters.  Although I finished it on that Friday, I sat on them until this past weekend before filing the Federal ones electronically.  Then last night I printed out the State ones and attached the appropriate forms and got it ready to be dropped off at the State Tax Office.  I know I have until Monday the 20th, but I figured I should just get them out of the way.  Maybe I’ll drop them off tonight then treat ourselves to dinner someplace.
  3. Post anything related to taxes.
    My favorite tax song:

Okay, have fun.  And if you didn’t do your State taxes yet, get crackin’!

 

*****************************************************
Tax relief:

20150502Magic Mushroom VI

 

 

75 Responses to “Thursday 3 – Taxes”

  1. LINDA KATO says:

    @Mark Shelby, we have central air conditioning in our 4 bedroom home with vaulted ceilings, ceilings are 2 stories high so it takes a lot of energy to cool our living room thus the high cost of an electric bill to cool our home which is not insulated. When I will a million dollars I will change all of our windows to insulated ones and pay to have our home insulated.

  2. Mark Shelby says:

    LINDA KATO….You Zippy’s story is fun! I have the same thing here at my favorite local Mexican food place! They know me! And they know I always order a $0.99 cent fish taco with extra pico and white sauce.

    Sometimes the cook even sees me park out front and he already starts cooking my fish tacos!

    I can also walk in and I can either hold up one finger or two to the cook and he starts cooking my fish tacos before I can even pay for it! It’s fun to be remembered!

    It’s called Taco Taco……in Poway, CA.

    http://www.yelp.com/biz/taco-taco-poway-poway

    This same thing happened to me while going to McKinley High School. I would always walk over to a small local diner on Keeamoku and Rycroft. That was 1970, when Oahu was small kine. They knew me well. They knew I was a high school student on a short lunch break. If there was a long line in front of me, the cook would start cooking my hamburger steak gravy on da rice. And my favorite waitress would seat me in the next available seat! So fun to be remembered!

  3. Mark Shelby says:

    LINDA KATO……Thank you for the great and very detailed explanation. I figured it would have cost you about $35,000 because I have been looking into this here in San Diego.

    I can’t imagine having a $700 per month electric bill, wow! I live alone in my 3,200 sq. foot house. And my bill has gone up about 40% in the last couple of years. It’s now hovering around $100 per month. Used to be $60 or less. Because my bill is still so low, it is almost not cost effective yet for me to do solar power.

    Every light bulb in my house is a compact florescent. And they are all on timers. I cook in a toaster oven or crock pot. And also use my propane BBQ. And I never use my massive 3 Ton A/C whole house Unit or heater.

    So I still can’t believe that I have to pay $100 per month!

    Getting all those free air miles was an awesome idea! Good for you!

  4. LINDA KATO says:

    @Seawalker… we dine at Zippy’s almost every day…. all the servers and managers know us by name…. we are VIP’s there…. it’s like dining with friends. Every Friday they know we eat laulau without the leaves. We split our meal in half and our salad too. I just have to say, same thing, and it is prepared for us…. love getting VIP treatment! 😀

  5. LINDA KATO says:

    @Mark Shelby-we used ALTERNATE ENERGY for our solar water heater and for our 30 Mitsubishi panels at a cost of $35,000.00. We put half on our Hawaiian Miles Charge card, and the other half on the Hawaiian Miles Charge card when the job was completed just so we could get the Hawaiian miles. We did this for our new roof, our bathroom renovations, any huge charge. This is the reason we can afford to go to Vegas often! Before the 30 days were up we paid off the credit card in full with our home equity loan …. we have a low rate. The cost of the PV was $34k, which is prohibitive for some people but I was tired of giving $700 per month to the electric co. The tax credits for Federal and State were $16k so that will pay down the system a lot in addition, the money I save on electricity…. I used to pay down our home equity loan. It will take me awhile but I plan to pay it off as quickly as possible. Our monthly bills are so manageable without that huge electric bill. It is a huge expense and decision but we are happy we did it! We would have done it long ago but our system took over 1 year for approval by Hawaiian Electric.

  6. Mark Shelby says:

    Seawalker……doing taxes is done much better wit one Lau Lau Plate Lunch! An one Primo Beah! Hows Dat? ; )

  7. Mark Shelby says:

    LINDA KATO…..Did you pay cash for your solar electric system? Because I think that’s the only way you could have a solar system bill that low. Otherwise you would have the cost of the loan on the system. What solar company did you use. I have been looking into it here in San Diego. Sunny days always!

  8. 4G says:

    LOL – maybe no more beef, but get plenty bull! 😆

    Kidding!

  9. Seawalker says:

    Sheesh, we’re up to comment #67 and the topic doesn’t even involve food. Wherezzzzzzzzz the beef? 😆

  10. Seawalker says:

    @LK – Keep up the compliments and I’ll make sure in addition to free char siu on Tuesday and free roast duck on Thursday, I’ll lobby for free roast pork on Wednesday. Just get there before 10:00 a.m. for the primo free parking. LOL

  11. keoni says:

    Eh Linda, I second da motion on drafting Seawalker. Now to make dat sassy buggah see it our way! 😉

  12. Seawalker says:

    @LK – My vote is for Rod. He’s got the people skills and got this dialogue going. Hey, if Zippy’s got an employee of the year, shouldn’t they have a customer of the year award too? j/k 😀

  13. Seawalker says:

    @keoni
    April 19th, 2015 at 12:16 pm #
    Eh Seawalker, you want I should design an election bumpah sticker fo’ you? 😀
    _____
    Just no be like the buggah who thought of the “Live Aloha” bumper-sticker. Wife dies of an apparent aneurysm during son’s soccer game. Mr. Inventor takes the money that mom designated for son. Where is the buggah’s aloha? Live aloha, brah. 😉

  14. LINDA KATO says:

    Hello…. Seawalker…. Want to run for office? You have some excellent ideas! 😀

  15. LINDA KATO says:

    @keoni…. can’t even get people to vote here in Hawaii… good luck with making any tax changes here in Hawaii or in Congress…. so important to elect smart people. You think we should urge Seawalker to take a stab at it and run for office? Make Hawaii better for all of us? Sounds like a plan! 😀

  16. Seawalker says:

    @MS – El presidente, my hats off to you for tackling foreign policy. Sounds good, your idea, but Hawaii is a lost child by choice. Besides the failed HI-5 program, Hawaii is trying to make it’s native son look bad by messing up Obama-care. How in the world can you spend uku millions of dollars and still make major boo-boos on the Health Connector? Just follow the states that is successful in signing up people for health care. No, we have to re-invent the wheel. I just cringe when we waste so much money on “failed” programs. Inouye was the king of the pork barrel. That’s not right for those who are greenhorns in Congress. But Danny knew how to game the system. He just did it for the people of Hawaii. Right on, tampon! 😯 Hawaii will always be the forgotten step-child. You can cry wolf all you want. You can emphasize the smallness of the state of Hawaii. You can attract all the attention with your hula skirts and hut. But the fact of the matter is, we are the 50th state and will always be last for everything. That is, until P.R. or some other territory become the 51st state. Still, Hawaii will always be the bride’s maid and will never be in the forefront of being the bride.

  17. LINDA KATO says:

    Our electric bill is $18.29 per month since 12/2014, sweet! Rather than $700.00 per month…. more money in our pocket! Love our PV system! I can run our A/C all day and not break the bank! 😀

    Loved reading all of your postings… 😀

  18. LINDA KATO says:

    Good afternoon MLCer’s ❗ Happy Sunday ❗ 😀

    Have a great day ❗ 😀

    We did our taxes late this year because I had to print a lot of instructions off our computer… IRS no longer provides booklets you have to read it online… hubby doesn’t know how to use the computer so I have to print out the pages for him of the info he needs. IRS owes me $100 for printer ink! We mailed our manual tax returns on 3/13/15. On 4/13/15, we received our Federal tax refund in our checking account! Sweet! Very last tax refund in our lifetime. We had 30 PV panels installed on our roof in 2014 so the tax credits gave us refunds from both the Federal and State Tax Offices.

    State Tax office is another story! They couldn’t scan 1 page into their computer because it was too light! Write darkly if you do it manually. Had to use a mail service to fax 10 pages to the State Tax Office that their scanner could not read. Evidently they have computerized! Thought everything was ok, a few days ago, we get called again by the State Tax Office…. error on 2 pages, re-do and fax again. So we re-do the totals as instructed for our PV system…. then re-fax again! Fingers crossed their computer can read everything we sent 3 times now! Eventually we hope to receive our refund! Last year I won an incredible amount in VEGAS and at Zippy’s here in Hawaii… won $2,500.00! So if it weren’t for our PV system… we would have paid taxes! We have to pay estimated taxes quarterly! Our mortgage rate is 2.79! So we hardly have any interest deduction… we make too much and don’t have enough write offs…. don’t know how the rich get away with not paying taxes…. we pay over and above our tax withholding quarterly…. if my WINS are high…. we increase our quarterly payments…. but rather than grumble… we are happy to be living in the U.S. and having to pay taxes every year with the exception of this year… means we are doing ok! Lots of people are not! Wish we had a lottery or slot machines here so I don’t have to keep looking for cheap airfare to Vegas. Luckily we have lots of Hawaiian Miles that gets us there FREE a couple of times a year! Until next tax season…. I think we’re done… crossing fingers on the State’s return… we think we’re done! 😀

  19. keoni says:

    Eh Seawalker, you want I should design an election bumpah sticker fo’ you? 😀

  20. keoni says:

    Now back to our regularly scheduled programs… 😆

  21. keoni says:

    k-den, here we go…
    Taxes here in the U.S. are a mess, but you all know that already. The income tax is not really about revenue, it’s about control of the people. Anyone who has done serious study of the issue can tell you there was/is so much hanky-panky and deceptionon the part of the government it will blow your mind!! Just as one example, look up ‘Joe Banister’ on the internet (however, I think the Wiki entry is piha o kukae, they’re just CYA so the IRS doesn’t target them!). He was an IRS agent who discovered some shocking stuff and is spilling the beans. The real problem with doing anything about it – they’ve got the biggest guns, so to speak. They focus on things like “He didn’t pay HIS SHARE”, etc. to gain convictions, instead of focusing on WHAT THE LAW SAYS, because they know they can’t win (and haven’t) on that point.
    Right along with the income tax/IRS issue is the fact that government in this country is massively bloated, and that’s the understatement of the century!! If we could reduce government by AT LEAST 95%, we wouldn’t need either an income tax or national sales tax among other schemes.
    OK, I goin get off my soapbox, but I do hope I’ve given you something to think about. The only way we’re going to change things is if enough people band together – that’s something the government does fear, informed people who will say “Enough”!

  22. keoni says:

    Eh Seawalker, I actually only did taxes one year – hated it!! I was a network technician back on the mainland, setting up and maintaining the offices during the season. I couldn’t do that here – no ka’a! After the one year of tax prep at Nu’uanu office, I went back to being a receptionist.
    I give my take on taxes in da next post, ‘k?

  23. 4G says:

    Eh, so what @keoni? Where you stay? 😉

  24. Mark Shelby says:

    Here’s to all of us who work hard and pay taxes! And yes I have paid my Fair Share! Ever since I started working at Wigwam cleaning the parking lot and store in 1967 at just 12 years old.

    Mom would drop me off every morning before the sun came up in the dark that Summer, so I could start cleaning the parking lot before all of the cars showed up!

    Here is a good blog about it…..check out the cool old cars in da pic! That’s the parking lot I cleaned up every morning, that summer of 1967.

    http://jalna.blogspot.com/2011/02/wigwam-stores.html

    Then later the store manager would show up around 8am and I would go inside and clean the entire store all for $1.35 per hour!

    Here’s to you hard working folks……!

    Bachman & Turner – Takin’ Care Of Business (Live At The Roseland Ballroom NYC)

    https://www.youtube.com/watch?v=ybtl9qVFAjc

  25. Mark Shelby says:

    Hey Sea!

    I know how you always like to say Seawalker for President all in fun! So here is mine!

    If I were President. I would stop sending our precious tax payer money and treasures to all foreign countries!

    With the money saved, I would give the most massive tax break to the middle class and the poor in the history of our America!

    It could be done, if those on Capitol Hill would also stop the Pork!

  26. Seawalker says:

    Let’s see Pacquiao make that kind of promises when he runs for president of the Philippines one day. 😆

    https://www.youtube.com/watch?v=fKuIHs1ELQU

  27. Seawalker says:

    Alas, those p(u)nks in Chinatown don’t qualify as special interest groups. And they will never make a $2 political contribution on their tax returns. 😉

  28. Seawalker says:

    LOL, yes, I’m running in the Oolong Tea Party. All the sle@ze and misfits in Chinatown will support their candidate. Besides lower taxes and 4-day work weeks, there will be free bus passes. Free char siu on Tuesdays and free roast duck on Thursdays. State-subsidized 25% senior citizen discount for all patrons of Chinatown. No charge in the Chinatown municipal parking lots if you get there before 10:00 a.m. Take care of them, and they take care of you. 😯

  29. Mark Shelby says:

    Seawalker……I would be all for a lower tax rate for the poor! They need help!

  30. khs68 says:

    @4G – 😆

  31. 4G says:

    BTW, @Seawalker – 7-11 restricted from “grocery tax” exemption. 😉

  32. 4G says:

    LOL! So where I send my campaign contribution? 😉

  33. khs68 says:

    @4G – err.. thanks for the endorsement, but no thanks! 😉
    The increase to an 8% sales tax on goods/services other than groceries makes sense when you consider this tax will also apply to the touri. In 2013 dbedt reports a whopping 8.2 million visitors to our islands, compared to Hawaii local population of 1.42 million people.

    If each of these touri spend $500 during their visit, the sales tax charged on their purchases would be $328 MILLION. Yikes!! Hello, Governor Ige…

  34. 4G says:

    @khs68 for Gov! 😆

    No tax on groceries sounds like a fair idea to me. Proposal on making up the difference with 8% sales tax (as much as I might not like it LOL) seems reasonable. I have no idea on the impact of casino gambling and lottery, but am not against the idea. 😉 I’m thinking maybe start with lottery, first?

    *************

    Complex issue, indeed. No easy answer and, in my opinion, no “silver bullet”.

    I believe that the tax system is basically intended to provide the funding for “essential” (however the hell we decide to define “essential”) government services. Seems to me that an important question to be asked is whether or not the tax system should also be used as a vehicle to achieve a more equitable (again, we need to define “equitable”) distribution of wealth.

    It seems to me that economic disparity is widening and that there is a need to somehow make things at least a little bit better. Sweeping change in a short amount of time is likely not a reasonable expectation. That said, though, I think using the tax system to help with wealth distribution should be one of the tools that we use to address the issue.

    It’s not just “legislation” to me, though. I’m not saying you don’t need a certain amount of legislation. In addition to the legislation, a change of mindset with the citizens is also needed. As a generalization, we all suffer from the “not in my backyard” syndrome.

    I am as guilty as everyone else. I like to say that those of greater economic means than me ought to pay more and I ought to pay less. It’s a lot more difficult, though, to admit that I ought to pay more than those with less.

    Of course, I’m just a selfish SOB, so it might be different for you . . . . 😆

  35. Seawalker says:

    7-11 is guilty of robbing Peter and Paul while taking care of Mary. Hey, that sounds like the musical group. What little lower income families have, they spend it at the convenient store instead of the supermarket. Keep on doing that and you’ll never get ahead. 7-11 makes it attractive for them to shop at their stores because they are smaller in size and sprout up at the darndest places. Shame on you! They accept SNAP on everything under the sun from cigarettes to beer. Hey, this is supposed to go towards food. Agreed that these people should be exempt from the 4.5% sales tax, providing they spend it on food only. Have admiration for the hard working ones trying to figure it out. On the other hand, have no sympathy for the lazy ones who tries to game the system. Or something better yet, instead of SNAP, just adjust the tax rates so that the lowest of low income tax payers don’t pay as much. In return, squeeze it out of the rich fat-cats. 😉

  36. khs68 says:

    Las Vegas sales tax is 8%+, with no tax on groceries. Hawaii should consider doing the same because it seems low/moderate income families and seniors tend to spend most of their money on food. Increasing sales tax to 8% together with casino gambling and a lottery would more than fill the state and county coffers, and possibly over several years completely eliminate the need for state personal income tax.

  37. 4G says:

    Crime and war – seems to me that they are often rooted in economic disparity . . . .

    What that has to do with taxes is beyond me. 😆

  38. Seawalker says:

    Heard this. Think it was W@arren Buffet. The more you learn, the more you earn. Me? The more you earn, the more you burn. 😀

  39. Seawalker says:

    A lottery system and gambling will create illegal activity. What an excuse to not have something that would be good for the state. First, the state has to fix the simple HI-five program on bottle redemptions. How can you screw something up so simple? Money taken in will be used as a payout for those who participate. Bottom line. Nope, it has to come down to someone or people funneling out millions of dollars for themselves. The lottery is doing great on the real Big Island–the continental U.S. It works. Hey, it is something I would dip my hands into. A few dollars from your paycheck, and wham-o, you might hit the royal flush. That’s why people in this state is so willingly want go to Vegas. Something is missing in their own backyard. A portion of the lottery can go towards the tax system in Hawaii. Thus, you can cut taxes somewhere in the state income tax system. Hey, but no excessive spending neither. I’m for cutting the program spending as well. So if elected, a four-day work week for everyone! 😯 😉

  40. Seawalker says:

    Eh, @Keoni, you da tax guy. How you figgah?

  41. Seawalker says:

    @4G – LOL. Don’t consider myself a bean counter at all. Just someone who is full of hot air and has many opinions to give on this blog. Hehehe. Agree with you on the personal loan interest. It goes against my idea of a flat tax where you pay a percentage of your gross earnings right off the bat. But for me, I always wait until I save enough to buy something. So I never incur credit card fees, even though I charge.
    ____
    Hawaii is one of the states where there’s income taxes, sales and use tax, real property taxes, automobile taxes, and taxes of every kind. California uses the RPT to fund their educational system. If it works for them, HI should take notice. If you renew your automobile license yearly, where is the $300 going? Earmarked my foot. It’s going to those overpaid government workers in this state. The public officials are not working for you and me. They are out to watch for their own personal interest. States don’t need an income and sales tax together, period. Unless the sales tax start funding a ferry system, rail, to me, sits on the bottom of the barrel. The C and C sets the property valuation. The valuation drives the RPT collections. What a joke to hand that power of discretion over to some public official. Nuff said. 😉
    ____
    @MS – Lower CG rates is used to stimulate the economy. And jobs creation seems like a buzz word for many. The rich are the ones who can afford special interest groups to influence legislation for their own benefit. Not right. A flat rate system will eliminate this. It doesn’t solve everything, but it does simplify things. The idea of a ‘fair share’ does not sit too well with the rich. They have the money, but they also want to keep their money. It’s similar to the concept of giving and receiving. The receiving part will not go away for the rich. It’s the giving part they need to work on. Yes, the poor does not pay enough taxes to contribute to jobs creation. But man, they sure would want to figure out a way to be like the rich. A flat tax rate system will allow for the poor to find a way out of their hole. The system, in their eyes, would appear more equitable and doable, if they want to move to a better standing in society.
    ____
    That’s why I say, “my name is Seawalker and I endorse this commercial.” 😯 😆

  42. khs68 says:

    @4G – Here! I’m a bean counter. 🙂
    Here are the states with no state income tax
    http://www.usatoday.com/story/money/personalfinance/2014/04/26/these-states-have-no-income-tax/8116161/
    After living in New York for 14 years and paying property taxes ($14K+) and state taxes up the kazoo, there’s no place like Hawaii! I think Hawaii could actually get rid of state income tax if the legislators would man-up and allow a lottery and gambling like Nevada. WTH??

  43. 4G says:

    Different train of thought . . . .

    Following “personal interest” comment – also need to reduce stuff like credit card rates. Dang – they’re usury rates! That’s supposed to be against the law, right?! LOL.

    Banks/financial institutions need to reduce loan rates to be more in-line with savings rates (and/or increase savings rates to be more in-line with loan rates) and, instead, tighten their lending standards . . . .

    Jus’ my opinion . . . . 😉

  44. 4G says:

    LOL! Calling all bean counters . . . . 😆

    Totally agree with deduction for personal loan interest.

    My proposal for tax – across the board sales tax – no if’s and’s or but’s . . . . No exemptions. Done–that’s the tax. Hard part becomes the black market – how to minimize. Can legalize everything, but will still need to deal with black market to avoid the tax . . . . Hmmmm???

    Sooo – been meaning to ask . . . .

    @khs68 and @Seawalker – you guys know each other IRL?

    No need answer . . . . LOL.

  45. khs68 says:

    The IRS should reinstate the deduction for personal loan interest, i.e., credit cards and auto loans. Allowing deductions would encourage more spending and grow the economy. Money is like manure — it’s not worth a thing unless it’s spread around…

  46. Mark Shelby says:

    Sea……So would the rich be paying in the teens also by your method, or would they be paying more? I have never had a problem with the low capital gains tax. It increases income for those who take a risk, and those who can take advantage of it can grow their business and create more jobs! I have never seen a poor man create jobs.

  47. Mark Shelby says:

    Sea…..Yup, at times I have sold off loses to offset gains. Then no tax either. And you clean out your stock portfolio of junk! And start over.

  48. Seawalker says:

    @MS – I hear you, brother. This one I saw, he was flipping ST trades, for a profit or for a loss. Sounds like you are lucky to be able to hold. My mom always remind me, it’s only money, so long as you have your health, everything is secondary. Huh? Yes, you cannot buy your health with money. Just like you can never turn back time. Lucky for that buggah, his losses counted towards his NOL and was able to carry it forward and backward. Hence, that’s the problem with the U.S. tax system. There is so many ways to weasel yourself out of paying. Now, if it was a flat tax system, with the rich paying their fair-share, then the ordinary folks would be paying a rate of somewhere in the teens-rate. El problemo solved. Seawalker for president! 😯

  49. Mark Shelby says:

    Seawalker
    April 17th, 2015 at 7:37 am #

    Ever seen a tax return for a day-trader who does options, futures, and the works?
    ~~~~~~~~~~~~~~~~~~~~~
    Sea…..

    I trade stocks for a living. I only pay taxes if I sell a stock for a profit during that current year. And it’s at the capital gains rate because I always keep my stocks for over a year. If I don’t need the money to live on, I don’t sell!

    No taxes this year! ; )

  50. Rodney says:

    Since I got married, my FIL did our taxes for about 25 years. Manually as he was an Accountant. After that, I had to buy TT to do our taxes. Now I help him do his taxes on TT.

  51. Seawalker says:

    Only once my dad took my tax return to someone to prepare. Dad paid $25 to have it done. So anti-pake! Still was in h.s. at that time. But the very next year, started doing my own. And have been doing it myself ever since. Never lose control over your finances. Same goes with tax compliance. 😉

  52. Seawalker says:

    What’s that crazy saying? There’s only 2 things guaranteed in life–death and taxes…

    Nope, not only those 2, add money to it. It’s not how much of it you accumulate, it’s how much of it you can do without. 😀

  53. Seawalker says:

    Taxes, most people think of it as something bad. Nope, not me. My thinking is that if you have to pay your share, then you made your earned income for the year. Ats why you have to rack up the contributions, made or not made during the year, and to offset your income. What’s your chances of getting audited? 😉

  54. Kage says:

    I use an online tax preparation software. Much cheaper than TT.

    I do not know why but this year I waited until the very last minute to file. I knew I would get a refund, but just could not get myself to focus enough to complete the return earlier

    I submitted my tax returns at 10:00pm on Wednesday, 🙂

  55. Seawalker says:

    Ever seen a tax return for a day-trader who does options, futures, and the works? Impressive. 7-digit income one year, and totally opposite, negative AGI, another. How do you plan your vacations with that kine earnings? 😯

  56. khs68 says:

    Wishful thinking every tax time… Money for Nothing
    https://www.youtube.com/watch?v=6D6cw8Ob2sk

  57. hemajang says:

    Ha, my youngest son is a CPA but not the tax kind, did mostly auditing, hmmm, I never did ask him if he does taxes. I’m not even sure if he does his own taxes. Think I’ll ask him this weekend. Maybe he can do my taxes from now on with family discount…free!

  58. dihudfan says:

    turbo tax… finish end of feb… but nevah mail in till Tuesday… used to get back but this year gotto pay… I guess the part time job, even as little as I earn, put me ovah the limits…
    don’t look forward to doing taxes, especially wen gotto pay…

  59. mows says:

    I’m a rebel and despise turbo tax. I prefer H&R Block’s Tax Cut premium and been using it for the past 4 years. No need to spend $200 at costco, in fact you just buy it (early for a discount), download it and install. Simple. Schedule C is included at no extra cost and even free federal and state e-filing. All my information is transferred from last year automatically. Only costs like $54 and you get free filing support and audit support also. Like frosted flakes…they’re g-r-r-reat!

  60. khs68 says:

    @Hemajang – You can file State and Fed estimated taxes electronically instead of mailing. You can set up auto Fed payments which they take out from your bank account on the dates you specify. If during the year your income changes, then you can change the future estimated payments. For State estimated taxes though, you have to go to their website a couple of days before the due dates and specify the payment amount to take from your bank account. The Fed does not charge a service fee, but the State charges $1 for each payment.

  61. Seawalker says:

    Download your missing forms from the IRS website. Free. Most schedules and bottom-line flow directly into your 1040. And yes, if you bought TT from Costco, if you not going to upgrade, be sure to get the $25 rebate before it expires.

  62. khs68 says:

    I have used TurboTax for years. I just finished and filed electronically yesterday even though I had bought the software from Costco in February. I am a procrastinator. I agree with Hemajang — TurboTax’s change is a very sneaky effort to increase their sales. For years I’ve used Deluxe to do our taxes and my parent’s taxes. Now I have to use the higher priced Premier just to be able to file rental income. Next year, I have to file a trust return and only TurboTax business prepares that form, but does not include the forms and schedules to prepare personal returns. So this means I have to buy both Turbotax premier and Turbotax business for 2015 taxes — $130+!! Rationally though, having taxes prepared by a CPA would probably cost fourt times more and require me to gather all the paperwork by mid-February or earlier. And being a procrastinator, that would be too stressful. So I’ll just shut up and bite the bullet and continue to use Turbotax.

  63. Seawalker says:

    How do you do your taxes (tax service, accountant, TurboTax, etc.)

    TT

    When did you finish your taxes?

    Feb

    Post anything related to taxes.

    What’s that old saying? When in doubt, whip it out! Do it early. Do it often. Do it at night. Do it during the day. Just do it! One less thing to worry about come April 15th. 😉

  64. hemajang says:

    Use Turbo Tax for years. Started off manually like most but went with Turbo Tax when I first heard about it years ago. I once went with a CPA tax preparer when I first purchased my house thinking my returns might be too complicated. I also did Tax Act one year but thought it was a bit harder to navigate and returned to Turbo Tax the following year.

    This year as usual I got the Deluxe version from Costco which is $10 cheaper if you buy it during their promotion in the Costco coupon book. But, Turbo Tax did a sneaky unfriendly change where if you need Schedule C like I do you had to upgrade at additional cost. You could have done it manually within the software but you wouldn’t have the checks and integration with your other forms, plus you couldn’t electronically file. That sucks but after public uproar Turbo Tax relented and gave out free upgrades or refunds. Costco sent me a notice of the free upgrade. So when I got into the Schedule C section it prompted me to upgrade to the Home and Business version, no problem. Now it got me thinking, what about next year? Do I have to pay more to get my Schedule C done with the standard Deluxe version. I might have to try Tax Act again.

    This year I paid dearly to the Feds and will receive a small State refund. I remember when I first applied for Social Security late 2013 I asked how much should I withhold for taxes and he said it was up to me and suggested I don’t do withholding until the following year when get a better idea of my tax liabilities. Not good advice and it was partially my fault for not doing estimated tax this year…which reminds me to mail that in.

    I finished taxes April 1st, electronically filed Federal but had Turbo Tax make payment April 14th. I mailed my State return but hear refunds will take longer this year. I have a friend who works at the state tax office, I should hassle him about it. I have lunch with every so often but he said to wait until end of this month, too busy at work.

  65. M says:

    Guud morning MLCers!
    We use Turbo Tax, I gather up all of the deductions, tally up the totals and masako does the input in Turbo Tax, team effort.
    It’s done by mid February.

  66. 4G says:

    TurboTax was, perhaps, the biggest concern in my Mac changeover. I wasn’t brave enough to commit to TurboTax via the Web (anyone have any experience with this?), so I ended up getting a SuperDrive(?) – the CD ROM/DVD accessory for the MacBook Pro (cause there’s no optical drive built-in). Actually, as I think about it, I would have needed that, anyway – to rip CD’s. LOL

  67. 4G says:

    The electronic filing of state taxes via TurboTax is kind of pricey – but, it is sooo much more convenient. The wait for the state refund was already pretty long back in February. Sounds like it’s getting even longer as the deadline approaches.

  68. 4G says:

    Man, the state refund took forever this year. 🙁

  69. 4G says:

    Dern! LOL

    2. When did you finish your taxes?

    I think it was back in late February

  70. 4G says:

    1. How do you do your taxes (tax service, accountant, TurboTax, etc.)

    TurboTax

    <b.2. When did you finish your taxes?

    I think it was back in late February

    3. Post anything related to taxes.

    I know @KAN already posted this, but this is what came to mind.

    “Taxman”, The Beatles:

    https://www.youtube.com/watch?v=Maz9ddxEQnM

  71. Mark'75 says:

    1.How do you do your taxes (tax service, accountant, TurboTax, etc.) I do my own on paper. (old school, no?)
    2.When did you finish your taxes? In early February. Basically what I get refunded to me from the state, I owe to federal. So, I mail in the state return early, wait for and deposit the refund, then mail the federal return just before the deadline.
    3.Post anything related to taxes. @KAN: +1: Beatles – Tax Man!

  72. KAN says:

    How do you do your taxes (tax service, accountant, TurboTax, etc.) I do my own. Yuck. Even write ’em out by hand b/c I don’t want to use TurboTax.
    When did you finish your taxes? About a month ago. Got my refund already. Washington doesn’t have income tax, but we have sales tax, which ultimately costs me more.
    Post anything related to taxes./ Beatles – Tax Man https://www.youtube.com/watch?v=MbQiVQuiu04

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