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Taxes, It's That Time Again

Last post 01-08-2012 3:59 PM by map578. 20 replies.
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  • 01-02-2012 7:36 AM

    Taxes, It's That Time Again

    Time to start on our tax returns.  Do you do them yourself using a program like Turbo Tax or do you pay someone to do them for you?  Babs
    Officially recognized Stretchpert in Prayer Circle
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  • 01-02-2012 7:38 AM In reply to

    Re: Taxes, It's That Time Again

    DH and I normally use Turbo Tax We will be discussing if we will use that same software again. Last evening, I started working on adding up my income since I am self employed. He got his W 2 forms. I will be sorting reciepts soon. Babs
    Officially recognized Stretchpert in Prayer Circle
  • 01-02-2012 8:30 AM In reply to

    Re: Taxes, It's That Time Again

     We have used turbo tax in the past;for the last few years I have just filled out the paper forms myself. Our taxes have been pretty basic lately. We have had to pay, not get a refund, so the need to file early is not there. This year finally got the withholding adjusted so it is a small payment. NY state income taxes I have always done on paper.

  • 01-02-2012 10:16 AM In reply to

    Re: Taxes, It's That Time Again

     I know it's tax time but not looking foward to is will probably have to pay again hope not let's hope for the bestAngry

  • 01-02-2012 10:53 AM In reply to

    • Walt34
    • Top 75 Contributor
    • Joined on 12-17-2007
    • WV eastern panhandle
    • Posts 1,400

    Re: Taxes, It's That Time Again

    We normally use Tubotax or a similar program. We don't expect either a large refund or a large payment as we try to adjust the withholding to get as close as we can to breaking even. Success in that is when either the refund or the payment is less than $100.
    Officially Recognized Stretchpert in Money Management
  • 01-02-2012 12:10 PM In reply to

    Re: Taxes, It's That Time Again

    don't have to worry about that for a couple of months!   our accountant does it all. I just have lots of receipts to organize.

    Officially recognized Stretchpert in Hobbies and Crafts
  • 01-02-2012 12:50 PM In reply to

    • gayla50
    • Top 10 Contributor
    • Joined on 09-24-2007
    • Western North Carolina
    • Posts 8,491

    Re: Taxes, It's That Time Again

    Accountant already has every thing but papers form the bank ..

    we usually pay ... only once got  money back .


    Officially Recognized Stretchpert in Frugal Food and Cooking and in Slow Cooker Foods

    Purpose is what gives life a meaning
  • 01-02-2012 12:51 PM In reply to

    Re: Taxes, It's That Time Again

    I use a CPA - I usually get a refund so I do mine early, which he appreciates; he gets pretty booked toward tax time.  My taxes have been simplifying since I paid off my student loans, but I am technically self-employed for the TaeKwon-Do class I teach, so the CPA's fees are deductible.  I've thought about switching to a program like Turbo Tax, but since I refinanced my mortgage in 2011, I don't think this is the time to do it.  Maybe next year.
  • 01-02-2012 1:05 PM In reply to

    • rolo
    • Top 50 Contributor
    • Joined on 04-04-2007
    • Michigan
    • Posts 1,928

    Re: Taxes, It's That Time Again

     Dh has always done our taxes--33 years and counting.  We use Tax Act online.  The past 5 years our income situation has been in a state of change due to job loss of 7 months, severance pay out, stocks cashed in , new job/different level of pay, I am no longer working, dd can no longer be claimed as a dependent, we didn't have a mortgage payment for a couple of years, now we do, etc. etc.  Hoping that THIS is the year of NO surprises.  Last year we owed $1400 between city/state--our fault as we had forgotten we could no longer claim dd.  This past tax year there hasn't been any big changes, we also adjusted withholding a bit so more was coming out.  We'll see.  We do have money saved and earmarked for "taxes owing", JIC.  


    "People take different roads seeking fulfillment and happiness. Just because they're not on your road doesn't mean they've gotten lost." ~~ Dalai Lama XIV -

  • 01-02-2012 3:38 PM In reply to

    Re: Taxes, It's That Time Again

    We've used Tax Act online as well the last few years after Turbo Tax kept having so many software issues.  This year will be a pain and we may end up needing a professional tax preparer rather than doing it ourselves - can no longer claim dd, fire losses when our garage burned, paid off our mortgage (yay!) and dh retired.  Hoping to at least break even...Liz.
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