Taxes

[Macfrommichigan]

Did my taxes with software. The '18 state return did not jibe with 2017. Long story made longer, I made a boo-boo in 2017 and 2015. Missed a substraction. Knew I needed help.

Met with an enrolled agent at a tax office. Did an amendment for 2017. Returned a couple days later with documentation to amend 2015.

Now, taxes are stressful. And folks who crunch numbers can be, um, short on humor. Robotic, even. But for my second trip, I really, really wanted to walk in carrying two huge duffle bags. Just sort of wanted to see the look on the accountant's face. (I didn't. One slender envelope only.)

Hoping the amended state returns do not trigger an audit.

 

[Toothpick]

“I’ve got my tax documents from 2015 & 2017. Do you have a loading dock? Would make it a lot easier to unload”.

 

[Macfrommichigan]

LOL.

I've seen folks in tax prep offices with a couple of paper grocery bags stuffed with receipts.

 

[mrlandpirate]

ya that was me...and your point is

 

[Macfrommichigan]

When a tax accountant sees someone with bags of receipts, they think, "Europe this summer!"

 

[emwolf]

taxes are stressful. ended up paying the fed this year, even after changing all exemptions to 0 on the w2. what is this world coming to?

 

[Macfrommichigan]

Death and taxes!

emwolf, folks who are dirt poor or filthy rich do okay; those in between not so much!

 

[H4nk]

My wife was drawing money from an IRA and forgot to pay Uncle Sugar so we owe lots this year. Luckily the penalty for underpayment isn't very much. Live and learn.

 

[oc_in_fw]

taxes are stressful. ended up paying the fed this year, even after changing all exemptions to 0 on the w2. what is this world coming to?

The tax cut was robbing Peter to pay Paul for most of us. Withholding tables were changed, so less was taken out of our checks during the year. Surprise- you owe this year. But at least people who own corporate jets can write off maintenance on them. Sarcasm just doesn’t come across well in print.

 

[emwolf]

The tax cut was robbing Peter to pay Paul for most of us. Withholding tables were changed, so less was taken out of our checks during the year. Surprise- you owe this year. But at least people who own corporate jets can write off maintenance on them. Sarcasm just doesn’t come across well in print.

But the misery of taxes is universal and is understood clearly.

 

[oc_in_fw]

But the misery of taxes is universal and is understood clearly.

I don’t mind paying taxes- you can’t have society without them. It is just a small few benefit from the system while the rest of us take it in the knee caps.

 

[StillShaving]

I don't believe an amended return will trigger an audit. Unless you are a high roller making shady deductions, etc. It is a pain to file, especially a second or third time for the same year.

 

[Rhody]

I don't believe an amended return will trigger an audit. Unless you are a high roller making shady deductions, etc. It is a pain to file, especially a second or third time for the same year.

X2
They also do targeted line item paper audits asking for some more documentation about something that you mail in.

 

[TexLaw]

They also do targeted line item paper audits asking for some more documentation about something that you mail in.

Indeed. These days, you see very few full-fledged, microscope up the wazoo sort of audits, especially when it comes to small discrepancies on a personal return that were then fixed by amended returns. Of course, I'm talking about the IRS. I don't know how different states handle it.

The quickie audits are simple, too. I've received a handful of those over the years. A couple of times, I had to own up to something I missed and write a check. The other times, I just sent in requested documentation, that that was the end of it.

 

[Sousy]

The tax cut was robbing Peter to pay Paul for most of us. Withholding tables were changed, so less was taken out of our checks during the year. Surprise- you owe this year. But at least people who own corporate jets can write off maintenance on them. Sarcasm just doesn’t come across well in print.

... messing with the withholding tables was the worst part. If you weren't paying close attention (confession: I wasn't), you got hit with a tax bill at the end of the year. Fortunately not a _large_ tax bill, but it seems like an annoying trick that makes the paychecks seem bigger and Uncle Sam seem 'greedier' down the line.

 

[Macfrommichigan]

It appears whatever tax cuts were enacted for the average Joe and Jane expire in a few years; large cuts in corporate rates, breaks for the wealthy do not have an expiration date, apparently. My bad; should have chosen rich parents.

 

[Swedish Steel]

Interesting reading. In Sweden, however hotly debated as a subject, the actual process of taxation is largely a non-event and the tax office is one of the most popular agencies around. Most helpful and efficient.

 

[Doc4]

... in this world nothing can be said to be certain, except Ben Franklin quotes and taxes.

 

[esswun]

I made about 10% more in 2018 than 2017 but paid a lower percentage in taxes, so I paid less as far as I'm concerned. I also do the withholding calculator quarterly and make adjustments as needed. The reason I hate taxes is because of the way the money is spent.

 

[Macfrommichigan]

Caution. No politics, folks. We get worked up enough 'bout Williams and Arko. LOL