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Tue Jan 24, 2012, 02:09 PM

Anybody done their taxes yet??

how do they look??

7 replies, 1135 views

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Reply Anybody done their taxes yet?? (Original post)
NMDemDist2 Jan 2012 OP
dixiegrrrrl Jan 2012 #1
NMDemDist2 Jan 2012 #2
dixiegrrrrl Jan 2012 #4
Warpy Jan 2012 #3
phantom power Jan 2012 #5
Fuddnik Jan 2012 #6
magical thyme Jan 2012 #7

Response to NMDemDist2 (Original post)

Tue Jan 24, 2012, 03:05 PM

1. They look great!!!!!!

We pay NO state/fed income tax, no property tax.
Just sales tax.

The upside for living below the taxable income/soc. Sec. cut off.

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Response to dixiegrrrrl (Reply #1)

Tue Jan 24, 2012, 03:29 PM

2. ahhh

sorry you're in the no tax bracket, but glad they aren't painful

I did ours and we're in the top 25% of wage earners and ended up only paying 10% federal

i don't get the tea party growling about taxes being too high.... i really don't get it

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Response to NMDemDist2 (Reply #2)

Tue Jan 24, 2012, 04:42 PM

4. Depends on how you define taxes...

Paying annual taxes ( state/fed income tax) is one thing

but if you get any kind of a paycheck with deductions taken out, that is another kind of tax.
i remember when I was working ( as recently as 2002) I paid 38% of each check in deductions:
Soc Sec
Medicare
State unemployment
etc
which really shrank the take home.

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Response to NMDemDist2 (Original post)

Tue Jan 24, 2012, 03:52 PM

3. I do mine on April Fool's Day

They're complicated and usually by then the first amended 1099s have come in.

The second amended 1099s show up in June, meaning I have to do a 1040X then. If I'm lucky, no more foreign jive happens and that's it for my taxes.

And Reagan said his scam was so simple we could do them on a postcard.

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Response to NMDemDist2 (Original post)

Tue Jan 24, 2012, 05:09 PM

5. I always wait until Feb 1...

I think the rule is you have until Jan 31 to get people all their tax docs. Although last year some jackass even missed that deadline.

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Response to NMDemDist2 (Original post)

Tue Jan 24, 2012, 06:00 PM

6. I'm still waiting on a 1099 from Railroad Retirement.

We increased our withholding substantially about 18 months ago, so we should get a pretty big return. The reason we increased it so much, is I thought we'd qualify for a large HCTC (Health Care Tax Credit) two years ago, and it turns out we didn't qualify, so I had to ship the IRS over $3000. Last year we got back $3000.

Should get slightly more this year, but the middle of Feb., our ridiculous Florida homeowners insurance is due. Along with flood insurance. So, kiss that good-bye.

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Response to NMDemDist2 (Original post)

Tue Jan 24, 2012, 08:27 PM

7. waiting on the university form

for education credit. I'm low income, so will get back all the fed income taxes I paid, along with ~$1,000 education credit. The state refund will be miniscule by comparison, but at least their online form is simple and works.

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