I’ve been using TURBOTAX for years. Some years the software is better than other years. I installed TURBOTAX yesterday–it was a breeze–and entered my tax data. In about a half hour I was done. Sadly, I have to pay about $200 to the Feds and about $800 to New York State (it costs a lot to live here!). I could have spent more time looking for more deductions, but I decided it wasn’t worth it if it resulted in an audit. Fortunately, my stocks were up yesterday so that more than covered my tax bills. I e-filed both my Federal and State tax returns. I have to send my tax checks in by April 15. How are you doing on your taxes?
George, try this simple tip: Do your Taxes by hand, filling out the forms in pen. Wherever it’s expedient, make your 9s look like 4s. I’ve been doing this for years. It takes longer, but you can make a lot of $$ this way.
Dan, your method bears study…
Bought ours yesterday.
Patti, some years TURBOTAX is a pain to install and use. This latest version worked like a charm.
We’ll do ours when we get home. As long as we break even I’m happy.
Jeff, breaking even is always my goal. But this year it didn’t work out. For all of Cuomo’s rhetoric about cutting taxes, we ended up paying more this year than last year.
Been using TurboTax online for a 5 or 6 years for my Federal taxes. Got back $920. I do my State and City taxes later. Always owe the State around $100 to $150 every year. The City is usually a even break. Taxes are pretty easy for me. I don’t have a lot of deductions or anything else that makes it more complicated.
I’m taking our tax stuff to the accountant today.
I hope to have my refund by the time I go to New Orleans.
Steve, my return is similar to yours. Simple but tedious. Once Patrick and Katie stopped being deductions, our taxes went up and up.
Beth, I hope you get a great refund so you can party hardy in New Orleans!
Like Beth, we use a preparer, have since moving here. Our situation is complicated by the fact that CA won’t withhold for OR where my income is, so I have to pay estimated and juggle my withholding every year. We always have to pay OR but usually are flat on Fed. The last refund I saw was before I got married.
If the Great Economist From the East has to pay, what are my chances? I get reamed because Uncle Sam withholds almost nothing from my pension. And this year we can’t deduct the baby. Oh, and the forms aren’t in the library yet. As usual, I’ll wait to April to worry about it.
Rick, when you’re dealing with two States it’s worth it to go to a professional. The complications can be mind-boggling.
I dropped everything off with our accountant last week–my goal is to break even. We usually get a little federal back but always owe on state (not a lot–last year it was $17). The office called me over the weekend to verify our bank routing and account info, so I’m assuming there’ll be a small refund.
Bob, I may have to have more money withheld unless I can find some more deductions. Good luck doing your taxes in April! If your Adjusted Gross Income is $50,000 or less, the IRS will do your taxes for free. I had the IRS do my Mom’s taxes for years. Zero chance of an audit if you let the IRS do the tax calculations!
Deb, your goal is my goal, too: break-even. Sadly, it didn’t happen for me this year. Hope it happens for you!
We just got back. The @#$%&! Oregon legislature sneaked in a late November tax change, RETROACTIVE TO JANUARY, eliminating the medical deduction as a % and instead allowing a flat $500 max, only allowable for persons 62 or over. That’s us, but the medical was allowing our Medicare and Long Term Care payments, which is thousands, not $500. It will probably cost us an INCREASE of $1,000 to $1,500 in state taxes. In that legislation, the State also included interest penalty if the total owed is over $1000, which most people will be since there was no way to see the change coming and withhold more. I’m furious.
Rick, sorry to hear you’ve been hosed by Oregon’s tax changes. That’s a pretty big tax bite!