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2017 Taxes Done


JerrySTL

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I’m thinking of doing ours later today. WoZack does a little teaching on the side and that little extra income usually means we owe. ☹️

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Using TaxAct isn't working out, I'm going to use a local tax preparer. I moved out of Ohio in 2016, but wife stayed behind until November 2017. I didn't change addresses with the pension issuer until mid-2017. Half my pension was withheld in Ohio, the second half in VA when it should have been all VA. TaxAct couldn't figure that out and said I owe OH $2,600. I owe OH nothing, they owe me. And I owe the state of VA for the half that wasn't withheld. I owe the feds about $1,700 and I'm fine with that; it's like an interest free loan.

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I haven't even looked yet, I really should. I have NO idea what's up.  I usually owe a couple grand.  Lost the last of the kid deductions, but I made estimated payments for the first time, no capital gains, paid half of next year's property tax and a bunch of next year's charity donations in 2017. 

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1 hour ago, JerrySTL said:

That was quick. Electronically submitted them on the 10th and saw it deposited in my checking account this morning. One week.

I h8 you. I need to get on this. 

It's a process. Get Bidness stuff done so K-1 can be issued. Those are supposed to be out at end of Feb. Then work on the personal returns. Last year we had a trip starting first of April. So that motivated me to get off my *ss

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I got a text that my refunds should be in the bank in the next couple days. I take maximum withholding after a state tax change forced us to pay in several years ago. As our kids moved out and our mortgage interest has decreased as it gets more paid off, we are now at the point where the standard deduction gets us more. 

I will be taking the maximum until we have a better idea of how the new tax changes affect us. 

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9 hours ago, Kirby said:

Planning to gather all my stuff and do the "tax questionnaire" from the tax preparer tomorrow.  I fear the news will not be good but I won't really know until I get them back from the preparer.

I owed a lot last year, and I FORGOT to increase my withholding, so I am a little afeared of what I will find too.  But I did manage to remember that armed robbery is illegal. :)  Except for the IRS. :mellow:

 

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