Tax Time

[JaneDoe]

Dh and I meet with our accountant on Tuesday. We are freaking out because we owe alot, I mean alot of money, this year. Please, please let it be better than we think!

Re: Tax Time

I'm thinking good thoughts for you!

That was my project until the flu came along and kicked my butt. Maybe next weekend. I'm pretty sure we will owe on Federal but am hoping it is offset by a state refund (we bought a BETC credit last year -- you might want to ask your accountant about those and if s/he knows of any available).

[JaneDoe]

Re: Tax Time

I'm thinking good thoughts for you!

That was my project until the flu came along and kicked my butt. Maybe next weekend. I'm pretty sure we will owe on Federal but am hoping it is offset by a state refund (we bought a BETC credit last year -- you might want to ask your accountant about those and if s/he knows of any available).

What is a BETC credit? I don't think I've heard of it.

Re: Tax Time

Since it is so specific, I'll PM you.

[DCJenn]

Re: Tax Time

Got relatively large refund (five figures- but that's not unusual when you factor in the sheer amount of interest we're paying on both houses...and that we ultimately LOST 24k on the DC house last year.)

It's sitting in the checking account, going to go to the savings account and chill.

Jenn

[RELLA]

Re: Tax Time

I have no idea how to even BEGIN to do Gary's taxes this year. I know how to do mine, but he hasn't worked and now has all these crazy loan forms. Plus I ordered turbo tax like 3 weeks ago and it STILL HASN'T COME! So now I have to fool around on the phone with all that bull crap. I am NOT a happy camper.

[Vishenka69]

Re: Tax Time

I have to print everything out and mail it to our accountant. Hopefully I'll get around to it by the end of the month. Since we closed on the house Dec 30th, I wonder what that will do to our taxes this year.

[MDPhDWife]

Re: Tax Time

We got a decent sized refund this year, not as much as last year though. For the first time ever I had major customer service issues with Turbo Tax and I've been using them for several years. That was a real headache, but at least it's over with now. Boy am I not looking forward to the days when we'll owe huge chunks of change.

Re: Tax Time

yayayayay!

we actually get a refund this year! $4500 between fed, KS & MO. (Last year we owed about $8500, so this is super excitiing). I was completely avoiding doing the taxes -- including refusing to find some of the paperwork for dh until he got really, really mad at me.

I'm a 'head-in-the-sand' kinda girl ....

[JaneDoe]

Re: Tax Time

yayayayay!

we actually get a refund this year! $4500 between fed, KS & MO. (Last year we owed about $8500, so this is super excitiing)

Jealous.

[HouseofWool]

Re: Tax Time

I want to try and get ours into our accountant this week. That and show Sophie off at work (they are just a mile apart).

My project for the last few days is to go through every scrap of paper and either file or shred it. I used to file by type (ie gas bill, credit card bill etc) but I am trying to do it by month. I have a couple of accordian folders for 2009 and 2008 and anything prior that doesn't look important is gone.

[Tenacious_D]

Re: Tax Time

Thank goodness for having a baby in this tax year and DH in school! Now we can actually pay rent for the next 3 months before we move!!

[MrsK]

Re: Tax Time

Oy! DrK and I spent hours last night trying to consolidate all our tax papers. It's such a mess. And he was a corporate accountant so you'd think he'd have a handle on this. Actually, he's great and he saved every little receipt last year but now I have mountains of paper and all kinds of tricky little issues.

FL does not have income tax and I've lived and worked there most of the year. But I've been paying OH income tax since the summer although I was only physically living in OH for about 14 weeks. Also, a huge chunk of my salary was earned in FL but withheld at the beginning of '08 and paid to me in December -- and taxed in OH although it was earned in FL before I'd ever heard of OH. I don't know if I can get refunds for any of this. I think I need to submit my paystubs for the entire year just to explain the withholding. There are also travel expenses, etc. for my commuting that may or may not be deductable -- it's hard to claim 2 weeks in Florida as a business expense without making someone suspicious.

Then there's the mine, yours, and ours assets and accounts -- nothing is entirely blended. We intended to consolidate things after our wedding but it's been awfully busy. I don't even know if I've been taking the proper number of deductions from my paycheck because I didn't adjust anything after we were married or after I got a raise (both in March '08).

We are going to need professional help. I scheduled an appointment with an accountant and wrote him a 5 page letter outlining our finances last night. I'm so confused!

[SuzySunshine]

Re: Tax Time

We too got a refund, being laid off and dropping drastically in our tax bracket helped.

[Malpka]

Re: Tax Time

We got a big one. I forgot you only pay SS for a certain dollar amount, so DH paid that max amount twice. Then moving expenses, loans, bucket full of kids. I am sure this will be the last time it works out this way.