12string Posted March 26, 2018 Share #1 Posted March 26, 2018 started my taxes last night. I always wait, since I generally owe a couple thousand. Imported W-2's, 1099s, and Quicken info. Turbo tax says $976 refund! I did make some year end tax friendly manuevers, but I also lost a child credit, can't imagine this is right? They're just trying to make me all excited so I come back and finsh the job, then they can say I owe a couple thousand. Link to comment Share on other sites More sharing options...
Razors Edge ★ Posted March 26, 2018 Share #2 Posted March 26, 2018 12 minutes ago, 12string said: started my taxes last night. I always wait, since I generally owe a couple thousand. Imported W-2's, 1099s, and Quicken info. Turbo tax says $976 refund! I did make some year end tax friendly manuevers, but I also lost a child credit, can't imagine this is right? They're just trying to make me all excited so I come back and finsh the job, then they can say I owe a couple thousand. HA! Mine is always red in the very large and scary numbers. Then, I proceed to hack that number down to an amount I can swallow. Tom Link to comment Share on other sites More sharing options...
Kzoo Posted March 26, 2018 Share #3 Posted March 26, 2018 4 minutes ago, Razors Edge said: HA! Mine is always red in the very large and scary numbers. Then, I proceed to hack that number down to an amount I can swallow. Tom This. I hate seeing that number to start with. Link to comment Share on other sites More sharing options...
12string Posted March 26, 2018 Author Share #4 Posted March 26, 2018 Mine usually starts that way too. I still have some capital gains offsets to add, I have some expenses still to claim, things like that that I use every year to reduce the amount owed. Now I'm all excited to go back and finish the job. Link to comment Share on other sites More sharing options...
Longjohn ★ Posted March 26, 2018 Share #5 Posted March 26, 2018 I started mine on turdo tax as well last night. Started out showing $1,000 refund, by the end of the night it had reversed to show I owe $1,000. I might as well let it sit for awhile now. I think the biggest change is our asswhipe govener hacked my social security this year. Link to comment Share on other sites More sharing options...
shootingstar Posted March 26, 2018 Share #6 Posted March 26, 2018 Hmmm...I got my refund already. I filed early and yea, it was via TurboTax. Link to comment Share on other sites More sharing options...
LabDaddy Posted March 26, 2018 Share #7 Posted March 26, 2018 I did a high level first pass and, as expected, it's butt ugly due to the financial circus I went through last year to buy the new home in November. Link to comment Share on other sites More sharing options...
Page Turner Posted March 27, 2018 Share #8 Posted March 27, 2018 5 hours ago, 12string said: started my taxes last night. I always wait, since I generally owe a couple thousand. Imported W-2's, 1099s, and Quicken info. Turbo tax says $976 refund! I did make some year end tax friendly manuevers, but I also lost a child credit, can't imagine this is right? They're just trying to make me all excited so I come back and finsh the job, then they can say I owe a couple thousand. ...the standard deduction is up this year. That might be the reason. Still, a $3,0o0 difference is unusual, and I'd look for errors or omissions. That used to be well within the bounds of what would kick out your return for review, if not an audit. They seem to be happier with everything steady on from year to year. When you do file, if you file electronically ( and why wouldn't you?) they have some interesting hoops to jump through in order to prove you're you. Link to comment Share on other sites More sharing options...
Razors Edge ★ Posted March 27, 2018 Share #9 Posted March 27, 2018 25 minutes ago, shootingstar said: Hmmm...I got my refund already. I filed early and yea, it was via TurboTax. Canadians pay taxes????? Like the US???? With TurboTax???? WTF??? Tom Link to comment Share on other sites More sharing options...
shootingstar Posted March 27, 2018 Share #10 Posted March 27, 2018 Taxes make the world 'round. Who knows, we may pay more tax than some states. Dearie uses TurboTax also to file for son's biz also. Link to comment Share on other sites More sharing options...
LabDaddy Posted March 27, 2018 Share #11 Posted March 27, 2018 26 minutes ago, shootingstar said: Taxes make the world 'round. Who knows, we may pay more tax than some states. Dearie uses TurboTax also to file for son's biz also. Florida...no state taxes. Music to my ears. 1 Link to comment Share on other sites More sharing options...
shootingstar Posted March 27, 2018 Share #12 Posted March 27, 2018 11 hours ago, LabDaddy said: Florida...no state taxes. Music to my ears. How does that work for Florida to cover costs of state infrastructure, social services? I was aware some states are like that. In all Canadian provinces and territories, one does have to pay provincial tax plus federal tax. It's all filed in 1 sweep. Hard to understand people who want govn't services to build highways, affordable housing, emergency aid, medical, education etc. yet don't want to fund services. I've worked for 3 jurisdictions: Ontario (provincial govn't), B.C. (legal aid) and municipality where I am. I"ve also worked in private sector..then see huge bonuses to certain people and extravagant parties, especially for big firms. Link to comment Share on other sites More sharing options...
Square Wheels Posted March 27, 2018 Share #13 Posted March 27, 2018 24 minutes ago, shootingstar said: How does that work for Florida to cover costs of state infrastructure, social services? Hmm, how about: State gas tax Federal gas tax Sales tax Property tax Excise tax Alcohol tax Tobacco tax Estate tax Gift tax Capitol gains tax ... I think we're all set on taxes. Link to comment Share on other sites More sharing options...
Longjohn ★ Posted March 27, 2018 Share #14 Posted March 27, 2018 Link to comment Share on other sites More sharing options...
LabDaddy Posted March 27, 2018 Share #15 Posted March 27, 2018 1 hour ago, shootingstar said: How does that work for Florida to cover costs of state infrastructure, social services? I was aware some states are like that. In all Canadian provinces and territories, one does have to pay provincial tax plus federal tax. It's all filed in 1 sweep. Hard to understand people who want govn't services to build highways, affordable housing, emergency aid, medical, education etc. yet don't want to fund services. I've worked for 3 jurisdictions: Ontario (provincial govn't), B.C. (legal aid) and municipality where I am. I"ve also worked in private sector..then see huge bonuses to certain people and extravagant parties, especially for big firms. About two-thirds of FL's state revenue comes from their sales tax. Due to the high tourist volume (including snowbirds), they get a lot of state revenue from those living in other states or countries. As I've stated in another thread, I'm all for funding services if they are truly providing good, valuable services. For example, I'm impressed with Sarasota county and am happy to pay to support them. Link to comment Share on other sites More sharing options...
12string Posted March 27, 2018 Author Share #16 Posted March 27, 2018 with all the deductions that I would have taken in 2018 that I prepaid to take in 2017, I expected about a $2500 turnaround, tops, should still leave me owing $1000. I must have not realized I did something else equally brilliant to save even more on taxes Link to comment Share on other sites More sharing options...
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