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Tax Day

Discussion in 'Off-Topic' started by llad12, Apr 15, 2008.

  1. llad12

    llad12 IncGamers Member

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    Tax Day

    Today is April 15th and all citizens of the USA have until midnight tonight to either mail-in your tax returns or file for an extension. It is also time to submit your first quarterly check for your 2008 estimated taxes.

    So, who is getting a refund? Who has to pay? Did you do your own taxes or did you pay an accountant for your tax preparations?

    Get your pencil out and organize all your 1099's. Uncle Sam wants his money.
     
  2. Johnny

    Johnny Banned

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    Re: Tax Day

    Cant you just phone yourse in?
     
  3. disgruntled

    disgruntled IncGamers Member

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    Re: Tax Day

    I get refunds. I pay an accountant. And I never, ever procrastinate-I try to have this done (to the accountant) in Feb.


     
  4. Thelioness

    Thelioness IncGamers Member

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    Re: Tax Day

    Mine is already filed and I have already received and spend my refund. I use tax software and e-file my own.
     
  5. Johnny

    Johnny Banned

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    Re: Tax Day

    I get my tax return from the government already filled out. I then make a phone call to an automated service and type in the ID code listed on the return and then I type in a signature code to verify that it's correct and then I'm set til next year. I get $1000 back.

    It's about 120 seconds of work every year to do your taxes.
     
  6. kernelpops

    kernelpops IncGamers Member

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    Re: Tax Day

    I got $900 back from federal, had to pay State $2900.


    I don't understand how that works, gogo state of 10,000 taxes!
     
  7. llad12

    llad12 IncGamers Member

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    Re: Tax Day

    Well, that is certainly convenient. The USA will do the same ... if you fail to file your taxes in a timely manner. Unfortunately, the IRS will fill out your taxes using the short form and any depletion, depreciations, or any other deductions (e.g., mortgage interest) will not be listed. In short, they will maximize your taxes and you will be screwed royally.



     
  8. Johnny

    Johnny Banned

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    Re: Tax Day

    The way it works here is that for example if you pay interest on a home loan then 33% of that is tax deductable but your bank tells the IRS how much you have paid in interest and so it's already counted.

    If you want to deduct alot of other things or own your own company then you will have to fill in the fields and send it in by mail and even then it's just slots that you fill in with numbers. Like if I spend more than $150 a year on tools for work then I can deduct the tax on all tool costs above that but I get tools from work so none there.

    For example if you work for someone that does'nt pay you travel expenses to work then you may deduct all travel costs over $1000 a year.

    That does'nt apply to me however since I get $3 for every 10 kilometers I have to travel. So as long as my car uses less than 1.5 liters of gas per swedish mile (10 km) then I make a profit on that

    So if you use $2000 worth of fuel while traveling to, from and during work during a year then you can deduct $1000.

    For most people you just call it in and then you're done. For the rest you fill in the blanks and then send it in or you simply call and then have them add the numbers then use your signature code.



     
  9. toader

    toader Banned

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    Re: Tax Day

    Ditto for me. Had this all done in February.



     
  10. Amra

    Amra IncGamers Member

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    Re: Tax Day

    I e-filed mine as well about a month ago. I put the refund into the savings account. Too bad it wasn't more. ><
     
  11. kobold

    kobold Banned

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    Re: Tax Day

    Mine's done and gone (although our deadline is Apr 30). Did it myself, would be pretty embarrassing for me to take it to an accountant.

    I had a nice little refund.
     
  12. MixedVariety

    MixedVariety Banned

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    Re: Tax Day

    Bit of a refund, I try to cut it close. Done early Feb.
     
  13. Bortaz

    Bortaz Banned

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    Re: Tax Day

    Same, paid for Alaska trip (well, a bit of it) with the little bit we got back. Can't complain, though, as I used to never get any back when I was employed.



     
  14. ModeratelyConfused

    ModeratelyConfused Banned

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    Re: Tax Day

    Done months ago. I actually got money back from the State too. :tongue:
     
  15. Croup

    Croup IncGamers Member

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    Re: Tax Day

    Just finished my taxes up yesterday. It's hard to convince yourself to do taxes early when you owe an additional $80 and change. That's what working four different jobs in a year will get you.
     
  16. AeroJonesy

    AeroJonesy IncGamers Member

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    Re: Tax Day

    I did mine last weekend. I prepared them myself (with some software assistance) and e-filed.
     
  17. BobCox

    BobCox IncGamers Member

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    Re: Tax Day

    Once again I paid the Marriage Penalty SIGH
    Basically if we divorced and both filed as Single we would pay less tax.
     
  18. AeroJonesy

    AeroJonesy IncGamers Member

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    Re: Tax Day

    Does it make you feel any better by knowing that there are plenty of single people out there complaining that the system favors married taxpayers?
     
  19. SQUATMAN

    SQUATMAN IncGamers Member

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    Re: Tax Day

    I did mine a couple weeks ago.Very small return.
     
  20. kobold

    kobold Banned

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    Re: Tax Day

    What additional credits are available to you if you were to file as single?



     

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