2012 Income Tax Season

81

don't forget, if you AGI is 57K or less, you can use online software from a number of popular providers and file online for free

http://www.irs.gov/uac/Free-File:-Do-Yo ... s-for-Free

if you are in chicago, feel free to stop by 81's tax shop for preperation. i do require booze tho.

:cheers:

Mamasan23

I do hope your accounting skills are better than your grammar skills.

:wave:

mca47

Mamasan23 wrote:

I do hope your accounting skills are better than your grammar skills.

:wave:

I'm fully expected to get bent over once again this year. Damn taxes!
I always owe just a little to the feds and a bunch to the damn state. Damn taxes!

Get_Right

I will get an extension and collect interest on my refund when I file in October.

rival.

Mamasan23 wrote:

I do hope your accounting skills are better than your grammar skills.

:wave:

81

Mamasan23 wrote:

I do hope your accounting skills are better than your grammar skills.

:wave:

my dearly departed mom always used to say....we all have our cross to bear....sadly, i was never good at spelling, grammer, or anything artistic. :( thankfully, i have many other skills that make up for those.

but seriously, use the free software if you qualify. i hate seeing people lined up at the h&r blocks of the world throwing their money away to get the taxes done....and when you file electoronicly yourself, you not only avoid the prep fee, you get your money back super fast making those stupid rapid refund loans that less enticing

81

Get_Right wrote:

I will get an extension and collect interest on my refund when I file in October.

what rate do they pay?

81

mca47 wrote:

Mamasan23 wrote:

I do hope your accounting skills are better than your grammar skills.

:wave:

I'm fully expected to get bent over once again this year. Damn taxes!
I always owe just a little to the feds and a bunch to the damn state. Damn taxes!

actually, that's technically the right way to do it.

but since i'm not that bright, i always get a couple of G back from the feds and break pretty even on state.

Indifference71

SInce 81 is the tax expert...question for ya..

I got married last year so is there any advantage to filing jointly with the wife? Or should I just continue to file on my own?

81

Indifference71 wrote:

SInce 81 is the tax expert...question for ya..

I got married last year so is there any advantage to filing jointly with the wife? Or should I just continue to file on my own?

i'm anything but an expert.....

but my advice would be to prepare them both ways and see what happens.

my guess is if your incomes and deductions are similiar, it won't really matter, but if one of you makes substationaly more than the other, you should see some savings filing jointly. doesn't cost anything but a little time to find out.

PureandEasy

I usually owe the feds every year too, wtf is up with THAT???

ugh

81

PureandEasy wrote:

I usually owe the feds every year too, wtf is up with THAT???

ugh

clearly, you aren't deducting enough.

actually, you are doing it right. you want to owe.

Get_Right

81 wrote:

Get_Right wrote:

I will get an extension and collect interest on my refund when I file in October.

what rate do they pay?

I was joking. I don't think they pay interest on a standard refund, even if extended. They keep the money interest free. Fuckers.

81

Get_Right wrote:

81 wrote:

Get_Right wrote:

I will get an extension and collect interest on my refund when I file in October.

what rate do they pay?

I was joking. I don't think they pay interest on a standard refund, even if extended. They keep the money interest free. Fuckers.

oh. if it was like 2%, i'd extend.

DS1119

mca47 wrote:

Mamasan23 wrote:

I do hope your accounting skills are better than your grammar skills.

:wave:

I'm fully expected to get bent over once again this year. Damn taxes!
I always owe just a little to the feds and a bunch to the damn state. Damn taxes!

Single male....yeah...bend over and say ah.

mca47

DS1119 wrote:

mca47 wrote:

Mamasan23 wrote:

I do hope your accounting skills are better than your grammar skills.

:wave:

I'm fully expected to get bent over once again this year. Damn taxes!
I always owe just a little to the feds and a bunch to the damn state. Damn taxes!

Single male....yeah...bend over and say ah.

Yep. And I don't have shit for deductions. The Fed return info comes back first for me and I'm always like "Ok, that's not so bad..." Then the state one pops up and it's like "Lube up time". :x
My salary went up quite a bit last year too so that's also not gonna help! Grrrr!

peacefrompaul

My dad does it for me every year

I'll just kick back and have a beer

81

mca47 wrote:

Yep. And I don't have shit for deductions. The Fed return info comes back first for me and I'm always like "Ok, that's not so bad..." Then the state one pops up and it's like "Lube up time". :x
My salary went up quite a bit last year too so that's also not gonna help! Grrrr!

one of the few benifits of having a house...the mortgage intrest deduction opens the door to claim all my other deductions

this year is gonna be a little rougher with all the late year bonus dividend payments. didn't sell any stock, so don't have to deal with that form this year.

Jason P

When does bow and shotgun season start?

peacefrompaul

Jason P wrote:

When does bow and shotgun season start?

Bow season just ended here... September 15th is when it started.

Shotgun and firearm season starts November 17th

81

Jason P wrote:

When does bow and shotgun season start?

guess it all depends on what you are hunting.

what are you lookign to hunt.

Jason P

81 wrote:

Jason P wrote:

When does bow and shotgun season start?

guess it all depends on what you are hunting.

what are you lookign to hunt.

W2 Forms.

Maybe some Form 1040's. I like to go spotting for them in the evenings.

JOEJOEJOE

I do taxes for a living, and since it was pretty certain the rates would go up for 2013, we accelerated income into 2012 for our high-earning clients....this was possible because some of the clients are paid through their personal service corporations that have fiscal year-ends (such as January 31).

We would normally issue salary checks from the corporations to the owners on 1/31/13 (this is a way to defer taxes for a year), but because of the increase in tax rates, we issued the paychecks on 12/31/12. In most cases, the tax savings are approx $4,600 for every $100,000 of salary. We also had our investment advisors accelerate capital gains into 2012.

81

JOEJOEJOE wrote:

I do taxes for a living, and since it was pretty certain the rates would go up for 2013, we accelerated income into 2012 for our high-earning clients....this was possible because some of the clients are paid through their personal service corporations that have fiscal year-ends (such as January 31).

We would normally issue salary checks from the corporations to the owners on 1/31/13 (this is a way to defer taxes for a year), but because of the increase in tax rates, we issued the paychecks on 12/31/12. In most cases, the tax savings are approx $4,600 for every $100,000 of salary. We also had our investment advisors accelerate capital gains into 2012.

and here is your expert.

Who Princess

81 wrote:

one of the few benifits of having a house...the mortgage intrest deduction opens the door to claim all my other deductions

Until you get where I am. The mortgage is paid down enough now that we haven't been able to itemize deductions for the last 3-4 years. Not really complaining, just hoping to get the the place paid off sooner.

And there are more than a few benefits to having a house.

81

Who Princess wrote:

And there are more than a few benefits to having a house.

true...but not lately.

he.who.forgets

mca47 wrote:

Mamasan23 wrote:

I do hope your accounting skills are better than your grammar skills.

:wave:

I'm fully expected to get bent over once again this year. Damn taxes!
I always owe just a little to the feds and a bunch to the damn state. Damn taxes!

move to FL! no state income taxes. I gave up online filing a few years ago. Found a dude that gets me boat loads more back...he may be crooked but i dont make enough money for the feds to ever worry about auditing my poor ass

peacefrompaul

he.who.forgets wrote:

mca47 wrote:

Mamasan23 wrote:

I do hope your accounting skills are better than your grammar skills.

:wave:

I'm fully expected to get bent over once again this year. Damn taxes!
I always owe just a little to the feds and a bunch to the damn state. Damn taxes!

move to FL! no state income taxes. I gave up online filing a few years ago. Found a dude that gets me boat loads more back...he may be crooked but i dont make enough money for the feds to ever worry about auditing my poor ass

Sketch!

SPEEDY MCCREADY

Yeah, I am one of those idiots who gives the government a nice, interest free loan, throughout the year. But its ok, they need the money, and I enjoy the nice FAT refund check come April.

xavier mcdaniel

SPEEDY MCCREADY wrote:

Yeah, I am one of those idiots who gives the government a nice, interest free loan, throughout the year. But its ok, they need the money, and I enjoy the nice FAT refund check come April.

just remember ask not what your country can do for you but what you can do for this country, clearly they had that in mind when creating the IRS...

81

women's taxes have been submitted.