Poll

1 vote (3.7%)
No votes (0%)
1 vote (3.7%)
5 votes (18.51%)
6 votes (22.22%)
4 votes (14.81%)
3 votes (11.11%)
5 votes (18.51%)
No votes (0%)
2 votes (7.4%)

27 members have voted

Doc
Doc
Joined: Feb 27, 2010
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March 15th, 2015 at 8:31:12 AM permalink
I finished working out my federal and state taxes yesterday and filed them both -- e-filed federal and mailed in a paper return to the state. It seemed to be the most complicated return I have ever filed, even though I was using commercial software. I knew it was going to be challenging this time, which is why I got around to working on it in the first half of March.

Anyway, I got to wondering about when others get around to doing this drudge work, so I thought I would start this poll. I have placed it in the off-topic/off-topic category, though it may be relevant to gambling depending a bit on the extent to which you report your winnings.

Many years ago, I was nerdy enough that I would prepare my draft return on January 1, then just wait to receive the W-2 and other documents. Later, I had a job where the figures on my W-2 didn't match the pay stubs I had been collecting all year, so I didn't have the figures to work with on New Year's Day. Eventually, I just started being lazy like most everyone else, but I have never yet filed late or filed for an extension. I have been using computer tax software starting with my return for 1994.

What kind of filing schedule are you on this year?
EdCollins
EdCollins
Joined: Oct 21, 2011
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March 15th, 2015 at 8:40:05 AM permalink
I always finish it as early as I can, after I've received all of the documents needed. I like to get it out of the way, and I'm one of those who actually enjoys the process of doing my taxes.

However, I don't actually FILE the documents until April 13th or April 14th. I enjoy not giving the government their money back until the last possible moment. (I always owe... I don't get a refund. I plan it that way. I'm one of those who likes the government to give me an interest free loan each year, rather than the other way around.)
Greasyjohn
Greasyjohn
Joined: Dec 8, 2013
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March 15th, 2015 at 8:50:41 AM permalink
I have a template I use. All the infirmation is inserted into the word document as I get it. I have a rental so after all the HOA bills have been paid for the year I add them twice then insert the number into my document. By the time I'm ready to see my accountant all the work is done. And the blank template I use for future years can be modified as needed.

Not like years before I had this system where I would spend 3 or 4 hours putting it all together a day or two before my accountant appointment.
Wizard
Administrator
Wizard
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March 15th, 2015 at 9:10:55 AM permalink
I pay somebody to do both my personal and corporate taxes. I generally get her my stuff in early March and she does them when it is my turn in line.
It's not whether you win or lose; it's whether or not you had a good bet.
Baccaratfrom79
Baccaratfrom79
Joined: Jan 12, 2015
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March 15th, 2015 at 9:39:20 AM permalink
Finished on Feb 8th and a week later did the 1040X for the $17K W2-g for 2013 I conveniently forgot about. Wow, hate w2-g's, never again.
Bac79=Hazardous Material and Chemical person correcting other's mistakes. Non AP'er, I can't count cards, low intelligence. Sprinkles magical dust on the cards. Has a lucky monkey. Baby also has a green one. Sum it up: "It's okay just blame me, it's all my fault"! ( No one believes me--so I chose to stop posting)
GWAE
GWAE
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March 15th, 2015 at 9:44:50 AM permalink
Quote: Baccaratfrom79

Finished on Feb 8th and a week later did the 1040X for the $17K W2-g for 2013 I conveniently forgot about. Wow, hate w2-g's, never again.


I did the same thing. I did this year's return as soon as I had my docs. We get a refund every year. I am completely OK giving the government a loan. I can do a lot more with 6k at one time than I can with a few hundred ea check month and we are poor so it is hard to just save that money.

We also conveniently forgot to include a w2g last year so the irs sent me a letter l

last month. I did that right away as well.

A Co worker of mine gets a refund every year. She has not filed last year's yet because she is that lazy.
Expect the worst and you will never be disappointed. I AM NOT PART OF GWAE RADIO SHOW
Baccaratfrom79
Baccaratfrom79
Joined: Jan 12, 2015
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March 15th, 2015 at 9:47:20 AM permalink
Quote: GWAE

I did the same thing. I did this year's return as soon as I had my docs. We get a refund every year. I am completely OK giving the government a loan. I can do a lot more with 6k at one time than I can with a few hundred ea check month and we are poor so it is hard to just save that money.

We also conveniently forgot to include a w2g last year so the irs sent me a letter l

last month. I did that right away as well.

A Co worker of mine gets a refund every year. She has not filed last year's yet because she is that lazy.



If the letter says "CP2000" up in the right side, you have many months, they are just telling you to straighten it out. If its something else, then worry a bit. A 1040x with a new schedule should squash it???
Bac79=Hazardous Material and Chemical person correcting other's mistakes. Non AP'er, I can't count cards, low intelligence. Sprinkles magical dust on the cards. Has a lucky monkey. Baby also has a green one. Sum it up: "It's okay just blame me, it's all my fault"! ( No one believes me--so I chose to stop posting)
RonC
RonC
Joined: Jan 18, 2010
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March 15th, 2015 at 10:03:33 AM permalink
I figure out my taxes in January after a preliminary run in the late fall. If there is a refund, like this year, I file at the earliest date I have all the documents in hand. That was January this year. If there is a bill, I file April 15th or whatever the latest date is in those years where the date is extended a day or two.

I am trying to decide whether to change my withholding or not for this year as I anticipate a refund again next year...not sure it is enough to matter on a monthly basis at this point and there will one less dependent the following year, so it will start to equal out again. Maybe I will just let it ride...
Doc
Doc
Joined: Feb 27, 2010
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March 15th, 2015 at 10:48:34 AM permalink
Quote: Wizard

I pay somebody to do both my personal and corporate taxes.


I just realized an error in my earlier post -- there was one year that I paid someone to do my taxes rather than doing them on my own computer. I had moved from GA to NC in January and learned way too late that state tax withholding from my pension was being sent to Georgia that entire year instead of to North Carolina, even though I had told the pension payer about my change. I was afraid I would be in trouble for not having paid any withholding or estimated taxes at all to NC as the year went on. Maybe I would have figured it out on my own eventually, but the tax service figured out there was no problem at all -- I only needed to pre-pay at least as much as my previous-year's NC tax, which was zero. Now I pay NC estimated taxes.

I think that the tax service charged by the page or by the form. This year, my federal return wound up being twelve pages. That's made up of four forms and three schedules. Plus the state return. And it turned out that I took the standard deduction rather than itemizing on Schedule A (after entering all of the data for itemizing). I don't know what those returns would have cost to prepare with a tax service. I paid $55 for the software and would probably have needed to do most of the work I did just to get my info organized for a tax service. Otherwise, I likely would have paid a tax service quite a bundle to get things organized for me.

Perhaps 12 pages isn't very much for a federal form to some of you. Maybe I should have started a poll asking how long everyone's individual tax returns are.
ThatDonGuy
ThatDonGuy
Joined: Jun 22, 2011
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March 15th, 2015 at 12:10:58 PM permalink
I had to wait until early March because that's when Charles Schwab was fairly convinced that there wouldn't be any subsequent corrections to the numbers it sent me concerning my mutual funds.

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