Taxes 08

jetta SG

So I'm ploughing through all my receipts, sorting and categorizing statements, kicking myself for not being more organized... next thing I knew, five hours have flown by! And I'm not even near done!

Anyone else in the same mess?

Meia Gisborn SG

Getting an early start to filing your tax return, I see.

I can't do mine until the bank sends me the 1099 for the investments I have through them--and they have until the end of February to do that.

Do you file electronically? I'm thinking of trying that this year.

udontknowme SG

dear self,

pls stop being such a lazy ass AND GET YOUR TAXES DONE THIS YEAR THANK YOU VERY MUCH! i've lost about $1000 oredi...=| i feel like such an arse.....i wonder how much i can get back from the years i didnt file mine...=(

Fatum SG

dear udonie,

you can file claims for previous year's unclaimed taxes anytime, your money doesn't fly away if you don't file your taxes for the year. Visit your nearest friendly seasonal H&R block orpid for more information ...

PS: remember to identify yourself as a student and ask for the student discount.

udontknowme SG

actually, it 'evens' out.
the province gives me $400 every year for school fees. (which is awesome considering how i've never even been in this province before and yet i'm considered NS-ian.) and that's about how much i supposedly get back every year. ahahahhaha....>.< ok, not funny...

apparently you get more back if you file right from the start. not sure if you get more back every year, or after you retire :x cos there's that one last question on the tax sheet that has to do with the previous year's taxes...

jetta SG

Getting an early start to filing your tax return, I see.

I can't do mine until the bank sends me the 1099 for the investments I have through them--and they have until the end of February to do that.

Do you file electronically? I'm thinking of trying that this year.

Yes but there is a $20 fee. However, you do get it in your account way faster than you would a check.

We've been itemizing for years and you would think that I would be better organized by now. Taxes for this past year is a little complicated since I dabbled with Tupperware and then started a small biz. Good luck to my CPA.

jetta SG

Unsure about Canadian tax r & r, but we kept getting a bigger and bigger refund each year. That's not a good thing though since it's your money that the Govt gets to use interest-free. Over the years, we've tweaked and tweaked but we still get a refund.

jetta SG

Finally! We are done!!! I hereby resolve to be even better organized for next year.

Meia Gisborn SG

Finally got my federal and state tax returns done this weekend. I had intended to use TurboTax to file electronically for the first time this year, but discovered that I needed to acquire the significantly more expensive “Premier” version instead of the standard “Deluxe” version because of all my investment transactions.

Took me the entire day, but it’s done—that most unpleasant of unpleasant tasks. Now I just have to mail them off and hope I don’t get singled out for an audit due to some of the more, um, “creative” methods I used to report certain investment transactions.

jetta SG

Amen to that and congrats!

Question: What do you do when an annual statement arrives after you've filed your taxes?

Meia Gisborn SG

Question: What do you do when an annual statement arrives after you've filed your taxes?

Short answer: I usually ignore it.

Long answer: You might have to file a 1040X (Amended U.S. Individual Income Tax Return), but first find out if the document that arrived late actually changes your taxable income enough to bump you into a different tax bracket and alter the amount ot tax you owe. If the change is favourable to you, you might want to consider if the reduction in tax is significant enough to justify going through the trouble of filing a 1040X. If the change is favourable to the IRS, then I would question whether it is large enough for them to actually bother with it.

jetta SG

Hey MG

The Feds have cash. Got my refund last week!

Meia Gisborn SG

Hey MG

The Feds have cash. Got my refund last week!

Outstanding! Are you at liberty to disclose the amount of the refund???

What about your State refund? Is The Governator serious about temporarily issuing IOUs in place of cash in light of CA's financial woes?

jetta SG

Outstanding! Are you at liberty to disclose the amount of the refund???

What about your State refund? Is The Governator serious about temporarily issuing IOUs in place of cash in light of CA's financial woes?

No word yet on State refund. I've been checking online daily...

Meia Gisborn SG

FINALLY received my federal tax refund today. It took a bit longer that I expected, but I think it was worth the wait, as the feds apparently fixed a mistake in my return which resulted in a $490 increase in my refund.

ben1406 SG

i know i'm not american.. but i got a very nice tax return !! I LOVE YOU CRA !!

Meia Gisborn SG

i know i'm not american.. but i got a very nice tax return !! I LOVE YOU CRA !!

Congrats, dude! What are you going to spend the refund on?

ben1406 SG

Congrats, dude! What are you going to spend the refund on?

Bills, Rent, New Shoes and a trip up to Montreal in 2 weeks time... I might pop by NYC next week to meet my ex chef..

Meia Gisborn SG

Bills, Rent, New Shoes and a trip up to Montreal in 2 weeks time... I might pop by NYC next week to meet my ex chef..

What? You're not allocating any of the refund towards the purchase of new paintball gear?

Hope you have a great time in those two cities!

ben1406 SG

What? You're not allocating any of the refund towards the purchase of new paintball gear?

Hope you have a great time in those two cities!

Ahahaha ! I already got myself a new barrel for the marker, i might get myself a new face mask too.. I don't know if i want to spend more money on my gear because i'll be missing most of the season anyways being back in Sg for 3 months.