Filed just now. First time i'm getting to it before April in i dunno how long.

Ended up much better than last year when we owed ~$10k.

my wife not working for 3 months plus upping our withholding got us a combined $4k return from state/federal.

time to get our porch re-screened!

3/8/2015 1:52:37 PM

one more k-1 still coming that is ~2 weeks out

considering extending because i purchased a tax credit that for the gains i'll pay long term gains if i file an extension - i know i'm getting a refund so i have to decide if i think having the money earlier will net me more than the difference i get by waiting

3/8/2015 8:34:11 PM

Quick question...

going through my taxes on Turbotax (my situation is pretty simple) and I've had no issues in the past. So, I go though this years taxes, and it says I get a State refund but owe the Feds. I've mentioned this to a few people and they say that is odd, that there is no way that should be happening. It was odd to me too, so now I'm curious. Checked out HR block online and it said the same thing. Now I'm just confused.

3/8/2015 10:54:52 PM

To be more clear, W2 employee and nothing changed from last year except making about $4,000 more.

3/9/2015 8:16:00 AM

it's not unordinary enough to be worried - you should be able calculate if enough is being withheld each paycheck with some simple division - if you want to make any adjustments you can either add a flat amount to each paycheck for withholding or change your #s that you marked down

3/9/2015 9:02:22 AM

Quote :

"one more k-1 still coming that is ~2 weeks out considering extending because i purchased a tax credit that for the gains i'll pay long term gains if i file an extension - i know i'm getting a refund so i have to decide if i think having the money earlier will net me more than the difference i get by waiting"

I have a situation with K1's as well. I work in NC, and have 3 K-1s for GA, SC, and VA. I'll be filing an extension due to getting the last K-1 just recently. In addition to filing the federal extension and paying estimated taxes, do you have to fill out an extension for each state you will be paying taxes in? I will owe in each state.

[Edited on April 7, 2015 at 3:57 PM. Reason : .]

4/7/2015 3:57:22 PM

Yes, file the extensions in each state. If you have any idea of how much you'll owe in each, you might as well go ahead and pay some in too.

4/7/2015 4:07:49 PM

Quote :

"To be more clear, W2 employee and nothing changed from last year except making about $4,000 more."

Maybe you moved into a higher tax bracket.

4/7/2015 5:20:12 PM

Got mine done, and am getting back $900 combined.

4/7/2015 5:20:29 PM

I owed state but got a refund from federal. Don't see what's so weird about that.

4/7/2015 7:50:29 PM

I have to pay the feds a little but Vermont is giving me over 700 bucks (renter's rebate here!). I will net 500 bucks.

4/8/2015 10:19:36 PM

Got my federal back in February.

NC tax website says to still wait, even though everyone I know who did it after me got theirs. I even called the people and they say it hasn't been processed.

4/9/2015 2:23:57 AM

I got a decent return this year. Damn free loan.

4/9/2015 9:09:03 AM

FINALLY done! Owe the feds $2000, owe GA $800, getting $600 back from CT. It's been worse, so I can't complain.

4/9/2015 9:47:40 PM

Got my extension filed a few days ago, now to get started.

4/19/2015 11:07:40 PM

Got just enough back to cover 65% of my filing costs. Goddamned taxes.

4/27/2015 7:48:40 PM

Hooray, I get to call the IRS. Got a letter back stating that they need to verify my identity. I guess moving literally as far from NC as possible while still being in the US and other significant changes through up some red flags.

Yes, before anyone asks, I've already made sure this isn't a scam. I found the notification form on the IRS webpage and it is legit.

4/28/2015 7:33:55 PM

I have a realy stupid question. I used turbo tax for my taxes. I owed like $100 in NC taxes. I clicked the option to have it withdrawn from my bank account electronically. That was like 4 weeks ago and nothing has been withdrawn from account. Should I be worried that maybe I messed up and should've mailed a check or something? Maybe I accidentally clicked the wrong payment method.

4/30/2015 7:55:34 AM

The penalties on $100 won't be massive but you should go verify your payment method in turbotax. Surprised they didn't automatically email you a few times to notify you.

4/30/2015 10:57:04 AM

^yeah i talked to the NC DOR today. It was like $10 penalty or something and I went ahead and paid, so no big deal. But now I'm just confused about the whole thing. Maybe I was wrong about which payment option on turbotax I selected. Weird. Oh well. Glad it's taken care of it.

Filed in both GA and NC this year - got something like $106 in GA refund, and owe around $112 in NC taxes. So basically a wash haha.

4/30/2015 1:51:25 PM

Still have that stupid ass code 1121 on my refund...

4/30/2015 3:39:13 PM

Withdraw from your bank account doesn't work with TurboTax in NC for some reason. Got burned by that last year.

4/30/2015 8:08:04 PM

^yeah i guess that's what happened to me. i think the lady on the phone i spoke with said that if you use other software to file your taxes, NC doesn't offer the option of automatic withdraw or something like that. even though there was very clearly the option of paying by withdraw from bank account. luckily, it only cost me like $10-12 in late fees so i'm not upset about it.

5/1/2015 1:00:38 PM

Hmm, I owed NC $85 and used turbotax. It sent me to the NC dept. of revenue site and I paid on there. It was taken out of my bank account within about 12 hours.

5/1/2015 5:51:02 PM

Ditto

5/2/2015 12:04:58 PM

maybe i'm just really bad at turbo tax
i probably just clicked the wrong button and didn't pay attenion

5/2/2015 12:10:27 PM

I do recall the process being somewhat odd, but haven't owed state in a while so...

5/3/2015 3:44:02 PM

"Your wait time is estimated to be between 30 and 60 minutes."

Awesome.

Once your identity has been confirmed it will take an additional 6 to 8 weeks to complete processing of your tax return.

Even awesomer.

5/19/2015 4:56:09 PM

Over an hour and a half on hold. I suspect they're just going to keep me on hold until they close for the day, which is in about 40 more minutes.

It's progress though. Yesterday they didn't even bother to put me on hold, I just got a nope, try calling us another day.

5/19/2015 6:20:30 PM

When you leave a company and you get paid out for excess PTO, I know most companies withhold a huge %, like 40%, but then you get back next tax season what the difference is between your tax bracket and whatever your employer held (again I see people saying 40%, like a bonus essentially)???

6/9/2015 2:22:11 PM

still waiting on state return for GA

6/9/2015 2:29:53 PM

^me too - tried calling last thursday or friday and was on hold for a while before just giving up. the recording i got did say something about "your return is still being processed". makes me feel a little better knowing you're also still waiting for GA state return.

[Edited on June 9, 2015 at 3:18 PM. Reason : d]

6/9/2015 3:18:20 PM

My GA refund was deposited to my bank on June 1.

6/9/2015 5:03:23 PM

Is anyone familiar with taxation on sales of a rental property? I'm trying to figure out how Capital Gains, Depreciation recapture, and additional taxable income all come into play and what my total tax liability will be on the sale.

6/16/2015 9:59:52 PM

Tax Question:

I've been doing contract work for this attorney in Minnesota for the past three years. It's a decent amount...in the $40,000 to $50,000 worth of work. Taxes are simple as he just sends me a 1099 at the end of the year.

Well he died yesterday. Things were a little bit slower this year, but he's still paid me about $15-$20k already.

Not that I'm suggesting I try not to claim all of that amount...but does the IRS look into this stuff heavily? They don't go through your business financials after you die, do they?

9/17/2015 6:02:03 PM

His accountant should send you (and the IRS) a 1099 with your earnings as part of dissolving the practice.

9/18/2015 6:38:21 PM

Quote :

"Tax Question: I've been doing contract work for this attorney in Minnesota for the past three years. It's a decent amount...in the $40,000 to $50,000 worth of work. Taxes are simple as he just sends me a 1099 at the end of the year. Well he died yesterday. Things were a little bit slower this year, but he's still paid me about $15-$20k already. Not that I'm suggesting I try not to claim all of that amount...but does the IRS look into this stuff heavily? They don't go through your business financials after you die, do they?"

What I remember from Prof. Responsibility (I think), if he is a sole practitioner another attorney should be appointed to close out his files, but I think that's "client-centric". For the sake of determining the value of his practice and settling obligations (again, if he is solo), I would think someone will be reconciling his books (and possibly generating a 1099).

I don't think I'm telling you anything you don't already know. I'm just saying that with the unknowns on the other side, I'd be claiming all of it. It's easier to control what's on your side -- the expenses that will be claimed against that revenue to reduce your tax liability.

RIP the other attorney and the revenue stream.

[Edited on October 4, 2015 at 2:56 PM. Reason : .]

10/4/2015 2:54:17 PM

tax extenders bill passed

12/24/2015 11:23:40 PM