Hooray! Taxes are done!

The Hard Struggler

The Hard Struggler

NAXJA Forum User
Location
Atlanta GA.
I'm in on April 15 at 12:45 AM!
Two sole propritetorship Schd C businesses, rental property income, itemized deductions, business mileage, tallying up the box of receipts, bla bla bla...


4hrs 20 min! A new Malcom Services / Classic Cleaning record!

I am so happy it is DONE! And not as painfull $ wise as I thought!:woohoo::woohoo::woohoo::woohoo::woohoo::woohoo::woohoo::woohoo::woohoo::woohoo:
 
Go baby go!!!!
 
Haha, nothing like waiting till the last minute! I'm right there with ya brother. I'm guessing you pay quarterlies so this check is not going to be AS painful right?

I totally agree with the statement that if we all had to write our yearly tax check to the IRS on 4/15 every year, the Fair Tax would have already been enacted.
 
He has his reasons as to why he does them at the last minute, or second in this case. And I must say... I agree with them. However, I don't do my taxes, so I dont get to wait until the last minute.
 
Team Willys said:
He has his reasons as to why he does them at the last minute, or second in this case. And I must say... I agree with them. However, I don't do my taxes, so I dont get to wait until the last minute.
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x2 my stuff went to the cpa last week. Well the last of the info did. Had my w2's in last month. Had to get the wife to get all her medical expenses in this year. I'll be getting some heavy $$$ back I hop! I doubt I'll see any of it though.
 
i know some people that get their taxes together early and done with everything then wait till april 15 to file them... not wait to figure them out on the 15th but just file them... not sure if its a *finger* to the government or what but they know that its not necessary...

i did mine last week, but im one of the people that just keep forgetting.
 
YJ-GENRAL said:
i know some people that get their taxes together early and done with everything then wait till april 15 to file them... not wait to figure them out on the 15th but just file them... not sure if its a *finger* to the government or what but they know that its not necessary...

i did mine last week, but im one of the people that just keep forgetting.
Click to expand...

My guess would be they owe... If I owed I'd be in a hell of a fix. :shhh:
 
We don't pay quarterly, it is worth the penalty to just have the misery on only one day of the year.

A few years ago with a computer crash it took about 18 hrs begining to end! This year we pulled it off clean, only 4hrs and 20min!

Those wastefull bastards don't get my pound of flesh not one day early, I will earn the interest right up to the 16th.
Trust me, I will take my dear time going to the post office today.



Go FairTax!
 
The Hard Struggler said:
We don't pay quarterly, it is worth the penalty to just have the misery on only one day of the year.

A few years ago with a computer crash it took about 18 hrs begining to end! This year we pulled it off clean, only 4hrs and 20min!

Those wastefull bastards don't get my pound of flesh not one day early, I will earn the interest right up to the 16th.
Trust me, I will take my dear time going to the post office today.



Go FairTax!
Click to expand...

I hear ya man. Since I owed this year I didn't send payment out until today but I filed about a month ago.
 
you dont even have to pay on the 15th if you owe... the law requires that you FILE your taxes on or before April 15th.

then when they get your FILED taxes and make sure its right, they send you a bill for what you owe.... no penalty at all...

they require you to FILE ONLY by the april 15th... just an FYI.
 
you gotta love the feeling of that weight lifted off your chest!!!
 
YJ-GENRAL said:
you dont even have to pay on the 15th if you owe... the law requires that you FILE your taxes on or before April 15th.

then when they get your FILED taxes and make sure its right, they send you a bill for what you owe.... no penalty at all...

they require you to FILE ONLY by the april 15th... just an FYI.
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This is incorrect sir.

Non-corporations are required to file by April 15th unless you filed for an extension and then it's October 15th. They send you a bill once everything is processed. You WILL pay a penalty if you owe and do not pay in full by April 15th. There are three penalties, failure to pay, failure to file, and interest.

Failure to file is the bad one. 5% per month up to 25% of the balance owed.

Failure to pay is not too bad. It's 0.5% of your balance, per month. If you notify the IRS that you will not be paying by April 15, you can receive a 120-day extension at no charge meaning you don't have to setup a payment arrangement and only a 0.25% failure to pay rate as opposed to the standard 0.5%. If you need more than 120-days, you will have to pay to setup a payment arrangement.

Interest is charged to you at a currently 4% per year. This only equals .003% a month.


Just want to make sure people see the right information. Don't give financial-related advice or information unless you are very certain of it. That's not an area you want to be casually tossing around advice. This is part of my profession so I had to correct you. ;)......:cheers:
 
well thanks for the correction, by all means.


i believe i misspoke... please correct me if im wrong but what i said is true ONLY if the government owes you money/refund NOT if you owe the government, correct??

again sorry for the confusion, im not all with it today...
 
My first tax return as $6.86... I never actually cashed the check because I thought it looked pretty neat. It has been expiring every 180 days and every year they keep sending me a new one. After the first two replacements showed up I realized this wasn't a one-time thing and that it would continue to happen as long as I continued to not deposit it. I'm going to cover an entire desktop with them and then put plate glass over it when I retire.

A couple years ago I learned a neat trick - if you know you are going to get money back but aren't sure how to take all the deductions that will cause this, and keep coming up with that you owe a small amount of money, send it in with a little extra tacked onto the check. I'm not sure if this is still true but in my case it triggered an automatic audit, their system caught all the deductions I should have taken, and I got a check in the mail for $114 a few months later. This also is not legal advice... just saying what I did and how it worked out for me.
 
I waited til the evening of the 14th to hop onto Turbo-Tax. I knew I had a first time homebuyer credit coming my way but just never had the motivation to file early. also my dividend and interest statements always seem to show up Apr 1st or so, so really i didn't procrastinate that long.

This year marks the first (and probably last) time I have even been excited to file taxes. Can anyone say Christmas in April?! I'll be paying off the last debt I owe which is my DD note. and then won't owe on anything but the house. When it all settles out I will have paid $140 in income tax for 2009. Thanks to Obama-clause!!!


(not that I agree with any of the political decisions; but if the country is going to be a few hundred billion dollars more in debt, I want milk the gov't cheese for everything I can! )
 
i got to owe this year.. 180 sumething to GA state and 1790 to Federal.
Add that to the 14k i owe already...

mark :(
 
YJ-GENRAL said:
well thanks for the correction, by all means.


i believe i misspoke... please correct me if im wrong but what i said is true ONLY if the government owes you money/refund NOT if you owe the government, correct??

again sorry for the confusion, im not all with it today...
Click to expand...


No problem, just stepping in where my knowledge can be applied!

If you are owed a refund from the IRS, yes, you do NOT have to file by April 15. They won't penalize you for filing late, for obvious reasons.
 
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