Taxes 2005

Riddle me this, batman ... If I just paid $40 for Turbotax Deluxe with the state package, why are they asking me for ANOTHER $30 to submit my returns electronically?

Because that's how they make their money. If you don't want to pay it, just print out the returns and mail them in. That's perfectly fine to do.

Also, save you receipts. Tax preparation expenses are deductible.

wolf wrote:

Riddle me this, batman ... If I just paid $40 for Turbotax Deluxe with the state package, why are they asking me for ANOTHER $30 to submit my returns electronically?

Nickle and dime you. Year after year.

My CPA just includes the $30 in her $600 fee.

wolf wrote:

Riddle me this, batman ... If I just paid $40 for Turbotax Deluxe with the state package, why are they asking me for ANOTHER $30 to submit my returns electronically?

Government - Congressmen whose taxes are done for them by government employees - have made taxes so complicated that ‘Turbo Tax’, et al estimates you will spend maybe $100 for the software. Once it was only $20. Stopped using those expensive tax programs about 4 years ago when prices were easily over $50 - and increasing. Instead use one of those free tax programs offered by the IRS web site whenever I can.

Another trick is to download the *.PDF form and fill in those numbers. Print or mail that form. However the *.PDF form still does not add numbers automatically as it could.

One law: every Congressman must do their own taxes without any consultants or tax lawyers. Suddenly tax laws will get readable again. I don't expect it to happen. Too many Congressmen (ie Delay, Stevens) make laws they want because they are loyal and self serving Democrats and Republicans - which means being American is secondary. Yes I do question their patriotism - such as the rudderless Nancy Pelosi.

Did the software get 4 times more complex compared to when it was only $20 for everything? No. But by encouraging incumbent Congressman to not simplify tax law, then everyone including the 'bought and paid for' Congressman profit at your expense. CPA costing $thousands are now required (and MBA types claim this creates more jobs and therefore makes the economy healthy).

Too many will welcome the 'Tax Cut' solution rather than attack the problem: ie Rick Santorum who is up for reelection this November.

Why would you buy the software separately, when you can just run it off their website and not pay anything at all until you decide to officially e-file?

wolf wrote:

Riddle me this, batman ... If I just paid $40 for Turbotax Deluxe with the state package, why are they asking me for ANOTHER $30 to submit my returns electronically?

What is the national average dollar amount per refund and what percentage receive one?

You know how annoyed I get every year with filling out all the forms and such so I'm not defending TT or the tax code for sure. The reality seems to be that most people will get one or two thousand back and compared to 2 grand, what's $70 ? What's another $100 for that matter?

Yes, it is also true that the $70 fee is to get back your money in the first place.

No, the fee is for convenience. It only costs 39 cents to file.;)

I have never paid anyone to do my taxes, nor have I paid for software. I was very proud and all superiour thinking about this until last year, when I discovered that for three years, I hadn't been taking advantage of a particular loophole I could use. I read about this loophole in Parade magazine, of all places. So I went back and filed amended returns for three previous years, and got $200 for each amended return I filed. Took about 2 hours of research and paperwork to get that $600 back. Unfortunately (or fortunately, depending on how you look at it,) my income is just over the threshold for being eligible for that particular loophole this year.

After discovering that my incompetence nearly cost me $600, I'm not nearly as cocky about doing my taxes myself, but I still do them because I am cheap.

Speaking of which, anyone care to share any fun loopholes they've come across?

...please? I'm single, I own no property, and the IRS loooooves me.

No. You're pretty much screwed. :)

Can you at least file the EZ form? I miss those simple days.

Kitsune wrote:

Speaking of which, anyone care to share any fun loopholes they've come across?

...please? I'm single, I own no property, and the IRS loooooves me.

Well, you could fumigate your house and claim the loss of a stable of thouroughbred North American racing cockroaches.:rolleyes:

Thirty nine cents???

Did the cost of stamps go up again?

Government has now announced a (potential) rule change. Those tax software companies can sell information on your tax forms. The George Jr administration approves of this idea. I think they just tried to slip that one past us and the press caught wind of it. Actually, when you submit your tax returns to a tax preparation company, technically, they own the data.

BrianR wrote:

Thirty nine cents???

Did the cost of stamps go up again?

Yes, at the beginning of February.

Do we get a grace period to use up old stamps and buy new ones?

Pardon me for not watching the news beyond the weather forecast.

No, you gotta buy a bunch of 2 centers.

uh oh. my cable bill is gonna be LATE!

don't forget that most retirement plans have tax benefits - even your Roth (a lot of CPA's don't know that).

oh yeah - do not fund your IRA's/Roth's with your CPA, Insurance agent, bank, etc... they generally don't have the slightest damn clue what they are doing.

BrianR wrote:

Do we get a grace period to use up old stamps and buy new ones?

It was called January.

tw wrote:

Government has now announced a (potential) rule change. Those tax software companies can sell information on your tax forms. The George Jr administration approves of this idea. I think they just tried to slip that one past us and the press caught wind of it. Actually, when you submit your tax returns to a tax preparation company, technically, they own the data.

unbelievable. thanks for the heads up. A private CPA is more obligated to the client than a big tax prep company. The annual $600 seems more reasonable all the time.

I've been advised by two different tax preparers that married filing separately is the worst possible way. I have not lived with my ex in three plus years and probably never will again. However, neither of us has the financial wherewithal to make it legal...kid issues, etc. My preparer this year said that * wink * many people in my position file as if they were still together. Assuming your ex is agreeable...Do any cellarites have any experience or opinon about this?

[HTML]Assuming your ex is agreeable[/HTML]Fly in the ointment...an agreeable ex that isn't lying and intending to turn your ass in to the IRS.:lol:

farfromhome wrote:

I've been advised by two different tax preparers that married filing separately is the worst possible way. I have not lived with my ex in three plus years and probably never will again. However, neither of us has the financial wherewithal to make it legal...kid issues, etc. My preparer this year said that * wink * many people in my position file as if they were still together. Assuming your ex is agreeable...Do any cellarites have any experience or opinon about this?

As long as you are still legally married, you can file married filing jointly. And yes, it would be strongly recommended that you do so if possible. There are all kinds of little known rules about married filing separately that can really mess you up: like the fact that if one spouse files separately and itemizes deductions, then the other spouse who files must also itemize. This can really screw the spouse that has nothing to itemize. No, you cannot take the standard instead. To say nothing of the unbelievably high tax rate. MFJ has the best tax rate, MFS the worst (same as single!)

Those separated, but still married people might also be able to file head of household, if they have a qualifying dependent and pay more than 50% of the cost of maintaining a home for that dependent, AND have been separated for the last 6 months of the year.

It is possible for one spouse to be able to file as head of household and the other stuck filing MFS.

I did taxes for several years, and the basics of the tax code never changed. I was able to refresh my memory by going to www.irs.gov website, which is full of information and basically up to date.

Yeah, I know reading through tax code is about as exciting as, well, watching paint dry. :zzz:

Woohoo. Did my taxes over the weekend. Done for another year.

Good feeling, isn't it?

I always still feel miserable, but at least it's over with. I wouldn't go so far as to describe the feeling as "good."

I must say, though, that I am happier with the pittance I shall get back than one of my friends is over the $23,000 (no, I did not misplace the period) he has to pay.

It is over and thank god for that. There is no hell quite as fun as working a 1099 and having to deal with the quarterly payment system and investing into a Self Employment Pension Plan. Three years of this and I'm glad I won't have to deal with those problems while doing taxes, anymore!

than one of my friends is over the $23,000 (no, I did not misplace the period) he has to pay.

That's nothing compared to what I'm going to have to pay after I win the PowerBall drawing Saturday night.:D