FEDERAL TAXES; ARE YOU READY TO FILE?????
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FEDERAL TAXES; ARE YOU READY TO FILE?????
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Hubby beginsto prepare  forthenextyear; right after filing eachyear( April 15th)  Now that we have computers, it's much easier: each week, enter your tax relevant figures( taxable  cre
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Forums » Baking Forums » The Water Cooler » FEDERAL TAXES; ARE YOU READY TO FILE?????

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FEDERAL TAXES; ARE YOU READY TO FILE?????

posted at 2/8/2011 5:54 PM EST
Posts: 992
First: 10/7/2010
Last: 8/28/2011
Hubby beginsto prepare  forthenextyear; right after filing eachyear( April 15th) 
Now that we have computers, it's much easier: each week, enter your tax relevant figures( taxable  credits& earnings
 )
Even  when ( lastfewyearsbeforeretirement) he worked 7 part time jobs[ self-employed] in 6 months,he did this; always ready to file in JanuaryCool only waiting for forms from employers; agencies & bank to send in our required filing forms.It's much easier now,with only social  security income to report.
When I ran my own business; I tried to do this, too . but like most people I ended up working till past midnight the first week of AprilSurprised each year in order to fileby the15thWink

Re: FEDERAL TAXES; ARE YOU READY TO FILE?????

posted at 2/8/2011 6:13 PM EST
Posts: 7304
First: 6/23/2010
Last: 4/20/2014

My answer is ......
"Load up mysterious paper stuff and dump it on the desk of a CPA". 

She's already sent me a personal folder full of stuff she wants to see. She did a remarkable job last year and said that this year will be the last time I ever have to file. 
Embarassed 
Small incomes have one advantage.
Tongue out

Re: FEDERAL TAXES; ARE YOU READY TO FILE?????

posted at 2/8/2011 7:18 PM EST
Posts: 992
First: 10/7/2010
Last: 8/28/2011


HiNANCYGOOD FOR YOU ; "BEST OF BOTH WORLDS " Now on S.S.; hubby was told, our now( too low) income eliminates the need to file.Out of habit, he did anyway.
We had a CPA do it the first year we were homeowners( to find out what deductions we were entitled to.Also the first year  hubby was self-employed ( same reason) .He chose to do his own after that, since the CPA required everything to be organized ."That's the hard part" ,hubby said,I might as well do the easy part myself ( new software does all the Q & A and double checking for us) ;easier than running back & forth w/reciepts.
Now w/low income & no need to file; he cannot break the habit of weekly posting  of all deductions( volunteer work  mileage; medical mileage, contributions, medical copays, Real Estate taxes .With  forms available online he just cannot stop himself from getting it all done & into the mailbox as soon as the bank sends us forms we need (IRA interest). (That was in mid-January;no tax due/ no refund; why bother?but he's stuck in the rutt for so many years, she could not stop himself from filingSurprisedWink  
In Response to Re: FEDERAL TAXES; ARE YOU READY TO FILE?????:
My answer is ...... "Load up mysterious paper stuff and dump it on the desk of a CPA".  She's already sent me a personal folder full of stuff she wants to see. She did a remarkable job last year and said that this year will be the last time I ever have to file.    Small incomes have one advantage.
Posted by Nancy G

Re: FEDERAL TAXES; ARE YOU READY TO FILE?????

posted at 2/8/2011 8:55 PM EST
Posts: 7304
First: 6/23/2010
Last: 4/20/2014
My CPA is so kind, patient and GOOD that she asks me easy questions - lol. 
I'm not afraid of talking to her .... that's new for me.

Re: FEDERAL TAXES; ARE YOU READY TO FILE?????

posted at 2/8/2011 10:06 PM EST
Posts: 1823
First: 9/9/2008
Last: 4/20/2014
Both of you are lucky.  Somehow I became the "authorized" tax preparer in this house LOL.  Now I just have to wait for my husband to give me all the important info so I can get started.  Somehow it always seems to be March or April before he is motivated to get it all done.  Oh how I hate tax season LOL.

Re: FEDERAL TAXES; ARE YOU READY TO FILE?????

posted at 2/8/2011 11:08 PM EST
Posts: 1400
First: 8/9/2008
Last: 6/2/2013
We have been working on our tax returns, both Federal and State.  We also do my sister in law's!!!

Re: FEDERAL TAXES; ARE YOU READY TO FILE?????

posted at 2/8/2011 11:33 PM EST
Posts: 416
First: 8/7/2008
Last: 1/17/2012
Now retired no longer can file. Rent do not own. and children all grown and out on their own Miss getting that refund tho

Re: FEDERAL TAXES; ARE YOU READY TO FILE?????

posted at 2/9/2011 8:02 AM EST
Posts: 959
First: 1/30/2010
Last: 1/22/2013
I sure hope I can get a refund this year.  But it is a guessing game with all the changes they keep making.  I am still waiting for one form to file my Federal.  That is not the only reason.   I still have a little more organizing to do, BUT that missing form gives me an excuse to not be ready yet! 
I have almost always done my own taxes.  Only a few times that I didn't were life changes like buying a house & getting married.  Also when husband started working out of town.  But after the first year of using a CPA I said, no more.  Good thing too, one year I had to file state tax in 5 states.  By the time I had to pay for all those extra forms it would have cost more than we were getting back.   I worried at first about filing state taxes and getting them wrong.  But I soon learned that they were as confused as I was.  So I just winged it.  I only got a correction back once.  And they gave me MORE money!  LOL  So I just said "cool" and filed it away.  He didn't work there again (yet) so I didn't even try to figure out what they didn't like.

Re: FEDERAL TAXES; ARE YOU READY TO FILE?????

posted at 2/9/2011 8:26 AM EST
Posts: 2168
First: 8/8/2008
Last: 4/20/2014
We are retired and we don't file so  I wish you all luck on fileing this year

Re: FEDERAL TAXES; ARE YOU READY TO FILE?????

posted at 2/9/2011 8:37 AM EST
Posts: 7304
First: 6/23/2010
Last: 4/20/2014
Ohhhhhhhh - I wish it were easier to deal with this.

Re: FEDERAL TAXES; ARE YOU READY TO FILE?????

posted at 2/9/2011 9:22 AM EST
Posts: 3406
First: 10/6/2010
Last: 4/15/2014
Just getting ready to make the appointment,  I spent the past week getting the little stuff together.  Have to get the info on $$ spent for medications at Costco, on the charge card info it does not break it down into that category.
I think I would rather have a filling done than taxes.
I did do something that I have not been able to do before, I contributed to my IRA for both 2010 and 2011 at the same time.
Anyway everything should be done by next week! Maybe I will make the apointment for Valentines day.

Re: FEDERAL TAXES; ARE YOU READY TO FILE?????

posted at 2/9/2011 10:11 AM EST
Posts: 725
First: 12/31/2009
Last: 3/21/2014
We do our own taxes and I am still waiting for documents before I get started.  I really hate having them hang over my head and can't wait to get them finished.

Re: FEDERAL TAXES; ARE YOU READY TO FILE?????

posted at 2/9/2011 11:07 AM EST
Posts: 992
First: 10/7/2010
Last: 8/28/2011
GOOD JOB, FOLKS!!!!!!!!!!!
I asked this question hoping to motivate some of you to get started & avoid that alltoo familiar last minute panic.
Looks like you all are on the job & doing just fine in getting it ( taxees) done on time

Re: FEDERAL TAXES; ARE YOU READY TO FILE?????

posted at 2/9/2011 11:57 AM EST
Posts: 7304
First: 6/23/2010
Last: 4/20/2014
(off topic)   Hi Debbie -- I like your new avatar.

Re: FEDERAL TAXES; ARE YOU READY TO FILE?????

posted at 2/9/2011 1:42 PM EST
Posts: 528
First: 10/6/2010
Last: 6/11/2011
Not ready yet, still waiting for paperwork...............

Re: FEDERAL TAXES; ARE YOU READY TO FILE?????

posted at 2/9/2011 4:13 PM EST
Posts: 1038
First: 10/1/2008
Last: 4/19/2014
We went to our CPA this morning.  My husband does a good job of keeping things organized.  She said it was pretty straight forward this year.  The big changes in tax law have come to businesses according to our CPA.  She will let us know soon the good or bad news.

Re: FEDERAL TAXES; ARE YOU READY TO FILE?????

posted at 2/10/2011 7:37 AM EST
Posts: 283
First: 10/8/2010
Last: 3/29/2013
We are geting a big refund this year, which is nice...sadly, however, it is because of the huge medical bills I racked up - even with insurance it was almost ten thousand dollars, so I guess we deserve it!

Re: FEDERAL TAXES; ARE YOU READY TO FILE?????

posted at 2/11/2011 8:36 AM EST
Posts: 3547
First: 1/16/2009
Last: 4/20/2014
We have papers and reciepts gathered.  Turbo tax is really a great tool for Federal and State taxes.

Re: FEDERAL TAXES; ARE YOU READY TO FILE?????

posted at 3/31/2011 12:42 PM EDT
Posts: 959
First: 1/30/2010
Last: 1/22/2013
I did my Federal taxes this past weekend.  I tried to file on line, but no luck.  So I mailed it in.  Last night I went thru the State. 
It looked good to me, so I will try to file that one on line too.  If I can't manage it, I will mail that one.  I can't understand why it
would not work.  I did it last year.  So of course I can remember how.... right?  Undecided

Re: FEDERAL TAXES; ARE YOU READY TO FILE?????

posted at 3/31/2011 1:51 PM EDT
Posts: 7304
First: 6/23/2010
Last: 4/20/2014
yippeeeeee ---- just day before yesterday the CPA called me and said all was finished - would I come in sign papers and pay her - lol lol lol
It's all over for this year.  Whew.  I'm even going to get a generous refund.
I didn't expect that - I thought I would have to pay ..............................
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