This week's challenge: Get going on your TAXES!


#41

I love doing our taxes! I’m a nerd…I freely admit it. So I have everything collected for our taxes already except for one W-2 from the hubby’s workplace. Granted, we have fairly simple taxes this year so it makes the task much less daunting. #bringonthew2


#42

:laughing: :laughing: :laughing: Damn I wish!

@ChiefMomOfficer, owing only $11 is pretty damn good!


#43

$11? That is very impressive. I’ve never been that close. One year I was within $200 and I was pretty excited.

By my early estimates with only 1/2 the docs I need, I think we owe as much as $4k to federal even though we added extra withholdings for federal this year. I hope the number comes down when I finally have all the paperwork here. I guess I don’t mind doing taxes unless I owe more than the extremely large number we’ve already contributed!! Then it really puts me in a foul mood.


#44

We were self-employed freelancers for all of last year, so we did quarterly estimated taxes, and I chose the “100% of the previous year’s tax burden” method. Hopefully that means we’ll be getting a refund, due to my 2 months of unpaid maternity leave in 2016. But, we have a bunch of money saved for taxes if that’s not true. Just hoping I can put all that money we saved for taxes into our IRAs and reduce the burden further :smiley:

I’m right with those of you who said you love doing your taxes! So I won’t mind doing them twice on both TurboTax and Credit Karma, to compare and write a review. You know, if the baby will nap long enough to let me do our taxes twice, that is. :stuck_out_tongue_winking_eye:


#45

The best I’ve done was a net $22 between federal and state but unfortunately have been closer to $1000 the past two years since we aren’t eligible for more exemptions on our W4.

It will still be a month or two before we start knocking out our returns while we wait for all our forms.


#46

I’m all done, just waiting on my 1099s to input negligible amounts of earned interesr , if they come in at all.

Im excited for my over $1.7k refund. I did the 0 withholding thing contrary to what’s generally advised.


#47

Thought I’d bump this challenge back into your world since today is Feb first and a lot of us (including me!) will really get going on our taxes this week.

Have you started your taxes?

Me?

I’m busy uploading stuff to drop box for my tax person to get busy on!!


#48

I’m still waiting on several 1099’s. I started back in November though.

Here are all the official free options (AGI limit of $62k i believe) :

https://www.irs.gov/uac/free-file-do-your-federal-taxes-for-free
https://apps.irs.gov/app/freeFile/jsp/index.jsp


#49

Got a lot more forms than I thought I was going to get but meeting with our CPA Saturday!


#50

Have all my stuff, and had actually completed them before a friend recommended a cheaper software (Taxact). If the numbers come out the same, going to use that this year.

This is the first year we can itemize!


#51

Pretty much just waiting on Investment tax docs and then I’ll be golden! I just process it as it comes in!


#52

Done!


#53

I’m still waiting on a few 1099’s (Looking at you Scottrade, Motif & Tradeking)

Hopefully will be able to file next week!


#54

Still waiting for some documents. I plugged in what we have so far but our biggest miss is our taxable investments, so the picture is murky. If I closed today the government would owe me a nice chunk.


#55

Still waiting on a K1…getting antsy! Although last year since I owed $11, I don’t know why I’m in such a hurry. I’m just hoping I hit it on the nose again!


#56

I ran my through some free online tax software. Looks like I’m getting about $1200 back.

WHERE DID I GO SO WRONG!?! sobs hysterically


#57

I finally got all my 1099’s. Look like I’ll be getting about $5500 back. Of course that’s entirely because I donated $17k into a DAF. Otherwise I’d be owing a bit.


#58

What will you do with the $5500?


#59

haha, there are worse things! (But I know what you mean.)

What do you plan on doing with the $1200?


#60

It’s all earmarked for the new house! And by new I mean the 1910 conversion I’m buying as my first rental property.