Tax Time!

[stevej37]

Brought my paperwork into H&R on Monday....my refund shows in my account today.
The electronic filing and depositing makes it extremely fast.

Refund is half the amount of last years because of higher gains in 2024 and it kicked me into the next higher tax bracket. Even with that, it's still all good.

[rcooled]

Edit: Let's try to keep this thread here...Tax laws and all.

[stevej37]

^^^ Hah...I was thinking of who represents the last box, but didn't dare say it.

[rwest]

I haven’t looked into this year’s changes, but have we finally admitted that turtles are dependents and credits or deductions should apply?

[stevej37]

^^^ But they're taxing them instead....it's killing my refund.
It's going to affect the amount of freeze-dried shrimp they get.

[GH85Carrera]

I don't get all my 1099s from my various investment accounts until the end of February. I can't file until then.

[cabmandone]

UGH! I absolutely hate this time of year.

[rcooled]

Originally Posted by stevej37

^^^ Hah...I was thinking of who represents the last box, but didn't dare say it.

Many corporate execs, of all political persuasions, are compensated in this manner. That chart wasn't meant to point the finger at any one particular individual or group.

[stevej37]

Originally Posted by cabmandone

UGH! I absolutely hate this time of year.

My appt. was for 9am and I walked out at 9:15
A couple days before, I clicked on 'share tax forms with third party' on EJ site and entered H&R.
When I got to H&R..most of the keying was done just by adding the downloads.

They make it easy.

[stevej37]

Originally Posted by rcooled

Many corporate execs, of all political persuasions, are compensated in this manner. That chart wasn't meant to point the finger at any one particular individual or group.

It's something I know I'll never be able to use....oh well.

[cabmandone]

Originally Posted by stevej37

My appt. was for 9am and I walked out at 9:15
A couple days before, I clicked on 'share tax forms with third party' on EJ site and entered H&R.
When I got to H&R..most of the keying was done just by adding the downloads.

They make it easy.

At some point I'll only have one tax return to worry about.

[jcommin]

My first year of just SS, div/int, and IRA/401 1099s. No IL state tax this year and my Fed bracket is under 10%. I got the largest refund i have had in years. Gotta make a few withholding adjustments.

[stevej37]

^^^ I was in the same place (not first year) last year and considered lowering my deductions. I'm glad I didn't because I would have owed money this year....and I hate that.

[MBAtarga]

We're gonna have the highest tax bill ever this year. I guess in some respects - that's a good thing. I just made too much money on NVDA I sold off a bit more than half I had bought before the runup - so quite a bit of capital gains. At least it's all long-term!

[wdfifteen]

I not going to worry about it for another couple of weeks. I should have all the 1099s by then. Income sources have been much the same for the past 5 years, so it won’t be too bad. The first year after I retired was a challenge.

[cabmandone]

Originally Posted by stevej37

^^^ I was in the same place (not first year) last year and considered lowering my deductions. I'm glad I didn't because I would have owed money this year....and I hate that.

I love it when I owe. In fact, I make sure I always have to pay in. I can grow what I would would normally pay in at a higher percentage than any penalty I might have to pay and come out ahead of the game. I think the last time I got a refund was when I was in my late 20's maybe early 30's

[stevej37]

I use the refund for re-stocking the fridge....Meijer has a buy one get the second one 40% off on all Founders products sale going on now.

[KFC911]

Originally Posted by stevej37

I use the refund for re-stocking the fridge....Meijer has a buy one get the second one 40% off on all Founders products sale going on now.

Tariffs on freeze dried shrimp are no longer deductable ... a "win/lose" tax/slider shell game

Freakin' one bank is prolly holding up a bunch ... I won't name names.... Goldman Sucks .

MineRDun .... Eee Eye Eee Eye Owe

I'd luv to owe a million in taxes ... fwiw... but that ain't happnin'

[stevej37]

Years back...wasn't it law that all tax statements had to be mailed by the end of January?
Now, they are anytime in February it seems.

[KFC911]

Done