Tax questions

[TeamCoachellaHellYeah]

So I know we have some accountants here on the board so I wanted to ask some questions.

So my wife and I got married and when we started doing our taxes on turbotax it stated we would be getting less back then last year, even though we both claim zero. But if I do married but filling separate we get back close to what we got last year. What gives?

[bug on your lip]

[Young blood]

Hire an accountant to do your taxes. Its worth the $100.

[TeamCoachellaHellYeah]

Hire an accountant to do your taxes. Its worth the $100.

An Accountant or just a tax place? Last time I did that (I took them to Liberty) they actually fucked up my return and I had to call them back to fix it. And they charged me an arm and a leg.

[Young blood]

An actual accountant. Not someone whos got the basics of turbotax down.

[TeamCoachellaHellYeah]

can you recommend one in the area?

[Young blood]

pm.

[locachica73]

You can call the IRS and get any answers you need. H&R block charges a couple hundred, I can't even imagine how much a licensed accountant would charge. Unless you own a business I would not hire an accountant to do taxes. TurboTax has live online and phone support as well as a forum to ask any question and get answers from other people who prepare taxes.

[TeamCoachellaHellYeah]

yeah I am using H&R online right now...

[JustSteve]

Unless you own a business I would not hire an accountant to do taxes.

haha, our parent company runs about $6000 a year for tax prep. our taxes are about the thickness of a brick for that one. the smaller ones run a grand or two a piece.

[TeamCoachellaHellYeah]

basically what I am trying to find out is: Can I itemize deductions when my wife doesn't? Weird;y enough we get more money back that way.

[locachica73]

I do not know for sure but it sounds like double dipping, she would get the standard deductions that run around $8000 or something, then you would get all the itemized deductions. I just don't see that being legal, but then again I have only done single with kids no itemized returns.

[CalmerThanYou]

Hire an accountant to do your taxes. Its worth the $100.

this is true. I just paid him $150 for my state and federal taxes. then he told me i owe $4500 to the feds.

[humanoid]

yeah I am using H&R online right now...

about 3 years ago, I went to HR Block and had one of their "tax professionals" do my taxes...long story short, they fucked up badly, the Franchise Tax Board figured it out, penalized me thousands of dollars, then I had to go through months of hearings with HR Block and the FTB to clear everything up....it all got worked out, but it cost me quite a lot of time

individual case I'm sure, just very unfortunate

[menikmati]

I paid 20 bucks to have my done (helps that my dad's g/f is an accountant). Should have my money in less than 10 days. Yay.

[amyzzz]

I am so dreading this. I guess I dread it every year, but I'm afraid I'll owe a shitload this year.

[SFChrissy]

I do mine through turbotax...I'll see my direct deposit on friday...that will pay for my coachella hotel, some minor car repairs and a little chuck to the savings...

Can someone enlighten me on the bennefits of itemizing, where I should start for next year and what I can get away with...

luvyouzzz!!!

[humanoid]

as long as you don't get a state IOU

[canexplain]

about 3 years ago, I went to HR Block and had one of their "tax professionals" do my taxes...long story short, they fucked up badly, the Franchise Tax Board figured it out, penalized me thousands of dollars, then I had to go through months of hearings with HR Block and the FTB to clear everything up....it all got worked out, but it cost me quite a lot of time

individual case I'm sure, just very unfortunate

someone at my works, works there part time this time of the year .... she is a flake and dumb as a dog if that means anything ... i just heard on tv that i almost made to fucking much last year to get one of the rebate checks .... that would have pissed me off ..... cr****

[marooko]

this is true. I just paid him $150 for my state and federal taxes. then he told me i owe $4500 to the feds.

i cant do anything but laugh at this. sorry bud.


i paid 50 bucks. they're giving me back 1500 of the over 8000 they took. fucking cock suckers. i fucking hate paying taxes!!! im gonna sell drugs and quit working.

[wmgaretjax]

I claimed 0 exemptions with my w4 (started last year as a student and wasn't sure how it was all gonna work out)... now I have a kid and am claiming myself. so I get like 5000 back (more than I paid in taxes last year by a small sum... gotta love EITC)... comes in direct deposit this friday and the timing couldn't be better.

I find doing taxes to be fun... but granted mine aren't terribly complicated. next year should be a different ballgame.

[bmack86]

My aunt is a tax professional. I've never done my taxes and never paid to have them done. It's awesome

[CalmerThanYou]

I did stay at a holiday inn express last night

[marooko]

you just got hosed all around.

[locachica73]

I do mine through turbotax...I'll see my direct deposit on friday...that will pay for my coachella hotel, some minor car repairs and a little chuck to the savings...

Can someone enlighten me on the bennefits of itemizing, where I should start for next year and what I can get away with...

luvyouzzz!!!

If you own a house it usually works out better to itemize. You get credit for any repairs you do to the house, all your interest towards your house payment, taxes for your house and so on. That is the only time to itemize really unless you own a business or something else like that. You can go through turbotax and they will ask you all the questions they would if you were to itemize and then it will come back and tell you if it works out better to itemize or take the standard deductions. If you do itemize though any work uniforms, unreimbursed work expenses, moving expenses, medical expenses (over $3500 or something like that) and so on can be used as a deduction.

[boarderwoozel3]

[pancakespancakes]

Well this thread is just a little too spicy for me.

[Jagh20]

So I know we have some accountants here on the board so I wanted to ask some questions.

So my wife and I got married and when we started doing our taxes on turbotax it stated we would be getting less back then last year, even though we both claim zero. But if I do married but filling separate we get back close to what we got last year. What gives?

Without actually looking at your taxes, this would happened because your combined income is pushing into a high tax bracket. As an example, if you make 40k, you would have a $5,200 liabilty roughly 13%...yet when you get to 100k your liability is $18,000 or 18%. This is probably what your case is.

That will be $150...k Thanks

[dinosaurateme]

SOMEONE DO MY TAXES. i'll pay you 5 bucks. Maybe 10 if you get me a good return.