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Am I the only one staying home today to do my Income taxes??
Actually I usually wait until the 15th or 16th if we get the extra day for Patriots Day in Mass. Actually i don't think our returns go to Andover anymore so there goes that excuse...
__________________ 1st Cav Div Air Assault Infantry RVN
-Can Do........ and .......Carry On -
I started having mine done a few years ago. We expensed 3 cars and a generator this past year and blew the profit picture. This hurt our Sub-S dirtributions but I just found out I am actually getting some taxes back because of it. First time in years. Now I have to figure out what I can do for the boat, I mean wife, or maybe both.
Turbo Tax
Just put mine over the wires/net
Feds owe me
I owe state
bout the same every year
But if you stay with the same soft ware most of your info will
move with you from 1 year to another
__________________ Don't worry
Don't hurry
It's better to be late at
The Golden Gate
Than to arrive in Hell on time
I've got a plan for tax reform. We quarantine all our elected federal goverment officals and make them do their own taxes. They get no CPA's, no tax attorneys, no Turbo Tax, and no "phone a friend" option. Afterall, all they should need is the appropriate gov't forms, a pencil and a calculator, right? When they are done, IRS auditors will check their forms for accuracy. No one leaves until everyone's taxes are complete and correct.
If this happened, I bet we'd see a flat tax almost instantly.
Turbo Tax - Had mine done for several years by an accountant, but all they were doing was keying in the info that I gave them, and that took weeks. Now use Turbo Tax and file electronically. Quicker, easier and save $300/yr.
__________________
2005 McKee 23 TE/FS with 200 Zukes
50 Ton Masters with Towing Endorsement.
Funny i just noticed this post, i just dropped them in the mailbox at 2:45. Did the turbo tax, thought i screwed it up so i had an accountant do them: saved another 200 bucks. Not trying to bash turbo tax, the accounting isnt free anyways. I'll do the turbo tax next year and save the cash- I definately waited til the last minute this year and didnt have enough time to familiarize with the software. Oh well, atleast they're done now i can concentrate on getting the boat in the water.
I finally got a good healthy raise last year, and my Grandmother died. I OWE alot of money for the first time, and stroked a big check to the IRS cause I "made too much money?" The more you make, the more they take? Next time, its swiss accounts all the way.
Can't imagine what our bill would have been w/ out the revisions in the tax code. I can understand if we didn't have any write offs but we used everyone legally known and I still got socked. Oh well....
Yea what a mess I really underestimated with my retirement amnd new part time jobs and all..
How about a straight % tax on everything - no deductions exemptions etc. We all just pay like 10% or whatever - all income all sources. Only downside is it would put some lawyers and accountants and maybe even some legislators out of business. And it would end the use of the tax process for social engineering - which is good or bad I guess depending on your situation....
__________________ 1st Cav Div Air Assault Infantry RVN
-Can Do........ and .......Carry On -
My wife and I did our taxes with Turbo Tax (like we always do). Turbo Tax rocks!
....BUT, this year was way different. Our twin daughters are now 17. Therefore we discovered that once a child hits 17, you no longer get that child care tax write-off thing ($600 per kid). We got slammed with $1200 right there.... OUCH!!!!!
Squid, Let's go one step more. Let's have ALL taxes due on the day before elections. Federal, state, city, county, sales, gas, inheritance, gift and all other taxes as well as licenses, fees, and ALL other payments to the government should be collected at one time on election eve. There would be no withholding. Everybody would have to cough up the cash. I doubt if anyone would ever get reelected to any office. How could that be a bad thing?
A number of years back, the owner of a textile mill in SC got fed up with how everyone ignored how much tax was beening withheld from their checks. All they looked at was the net amount. So one payday instead of handing out checks he had an armored car bring in cash. He then had everyone line up and collect their pay. If you made $1000 gross, he counted out 10 $100 bills. He then had the employee pay back $200 for their federal tax. Then $50 for state tax. Then $75 for FICA. They said the employee's were going ape sh*t, when they saw just how much was going to the government. Do away with withholding and you will see serious tax reform.
The best plan for reform that I've seen is at this website. www.fairtax.org This is the only way to fix the completely frigged up tax code we have now.
Taxing income and capital gains is un-American. It also encourages tax cheating and loophole exploitation. The only way to truly share the burden of taxation is to tax consumers when they spend. Everyone buys things, even the drug dealers and cash under the table workers. Let me keep all the money I earn by working and investing, tax me when I spend.
The tax system shouldn't penalize Americans for saving and investing - but it does.
__________________
2000 WC 266 SF w/Merc Opti 200s
Income Taxes 
1st Cav Div Air Assault Infantry RVN
- Had mine done for several years by an accountant, but all they were doing was keying in the info that I gave them, and that took weeks. Now use Turbo Tax and file electronically. Quicker, easier and save $300/yr. 
OUCH!!!!!
