Tax Time!

[Cookie]

Here is a great site for those who are brave enough to do their own taxes. I have used this for well, probably 2 or 3 years now. It is simple, fast and free.

TaxActonline.com

[Ian Gills]

Thanks. I do my own taxes because it's easy.

It's easy because I am an immigrant living here so I don't get many of the deductions you American citizens do. The only deduction we do get is the State income tax we have already paid. Forget about anything else, because it's not even on the form we are supposed to fill in.

This year, I am about to post a $1500 check off to the IRS on top of what I have already had withheld.

Whereas most of you will be getting refunds.

At least I do not seem to get fined for the huge amount we owe every year.

Oh the joys of being classified as a "non-resident", even though you live here.

The "maximum refund" adverts I see on TV make me laugh. They would not know where to start with me....starting with the concept of "refund". Most of them can't deal with anyone that has to file something different from the standard 1040 form anyway.

At least my contribution should help this Great Government Grow and continue to do good work for America and her children.

Let's hope they use that $1500 to hire another Federal employee. I'll rest well tonight knowing I have sent it to them.

[Cookie]

Try that site, it is free and from the govn you will love it. It has all the bells and whistles instructing the newest laws, newest deductions etc, Ian. I did my taxes yesterday electronically filing, and today got the email it was accepted and will be direct deposited for free. The Federal that is. To file the State costs like ten bucks. So, I mail that one in. It is really easy to use, it gives alerts to things you might want to double-check, etc. For me, it was pretty simple. I went from different status in the past 4 years. I used to fie married joint, well, then couldn't. But, then, since I still had a dependent child still under 24 and in college, I was head of household; then, he graduated and now, I am a single status. Which I hate by the way, I loved being married. But, this site explained the rules I didn't need to do anything other than to click on the explanation . Ian, it is so nice. It has everything right in front of you. Now, the real dilemna as to what I am going to do with all that moola! Now, I am joking about the money because every year my husband and I donated our refunds to St. Jude's Hospital for kids. Since his death I have still followed suit. This site really does make it painless, and I do itemize medical, college and teaching expenses, real estate taxes, interest paid on my home, the works. And, I still get it right. Easy, easy, easy..

[Ian Gills]

Sounds really good. Thanks. I'll try it. I like to get the taxes done early each year.

[Cookie]

Don't know if you know this or not, but most audits (if I am remembering correctly) occur to those who do them closer to the deadline.

[Gary Slusser]

Which is financially smart.

The same for those that don't let the government have their money to only give it back in a refund with no interest.

I pay to have my taxes done. For me the the charge is deductible and I don't have to do more than give the person the data. And they take on liability and will have to answer for any mistakes; which over 30 years have been small mistakes and very few of them; usually a missed deduction and they filed an amendment. I also don't pay quarterly estimated taxes, I pay a penalty that is only slightly more than the cost to pay someone to do and file the quarterly forms and I caulk it up as a cost of doing business.



The main reason people like a refund is because it is a forced savings plan because they don't have the discipline to save the money themselves, so they let the government do it for them at no interest and send them a refund, at government expense.

BTW, if I had my way... the state and federal income tax codes, along with present sales and property taxes, would be shredded and everyone (including businesses) buying anything but food to be cooked at home and up to $400 for clothing a month would pay a sales tax; no exemptions or exceptions. And we would be teaching children from about kindergarten how to manage personal finances.

[Cookie]

Well, I can only speak for myself and my husband because I don't know why others like or want a refund. But for us, we liked having a cushion so we don't owe, I still like that little bit of a cushion. We were and are very disciplined. Plus, we donated the money for twenty some years to St. Jude's hospital for kids. So, far as teaching kids about managing personal finances in Kindergarten, let them enjoy life alittle before we bestow upon them the real world. Give them a quarter or a buck and let them buy a treat with it. Life comes at ya all too fast as it is. Kids at that age need to be exactly that, kids. Have you ever seen a little kid with Spina Bifida? They pay their dues, so do kids with other illnesses. So I think kids need to do their part in being just that, a kid. And, adults need to realize to do their part in remembering what it was like when they were kid and if, it wasn't so hot, to make it better for other kids today. The problem with today are not the kids, but the adults.

http://kidshealth.org/parent/system/...na_bifida.html

St. Jude was founded by entertainer Danny Thomas on the premise that "no child should die in the dawn of life." Thomas named the hospital for Saint Jude Thaddeus, the Catholic patron saint of hospitals, desperate cases and lost causes. Thomas was a struggling young entertainer when he knelt in a Detroit church before a statue of St. Jude Thaddeus and asked the saint to "show me my way in life and I will build you a shrine."

Thomas believed his prayer was answered, and he soon moved his family to Chicago to pursue career offers. In 1957, Thomas founded the American Lebanese Syrian Associated Charities (ALSAC), which helped him realize his dream. ALSAC is also the fundraising organization of St. Jude. Since St. Jude opened its doors in 1962, ALSAC has had the responsibility of raising the necessary funds to keep the hospital open.

Which is financially smart.

The same for those that don't let the government have their money to only give it back in a refund with no interest.

I pay to have my taxes done. For me the the charge is deductible and I don't have to do more than give the person the data. And they take on liability and will have to answer for any mistakes; which over 30 years have been small mistakes and very few of them; usually a missed deduction and they filed an amendment. I also don't pay quarterly estimated taxes, I pay a penalty that is only slightly more than the cost to pay someone to do and file the quarterly forms and I caulk it up as a cost of doing business.



The main reason people like a refund is because it is a forced savings plan because they don't have the discipline to save the money themselves, so they let the government do it for them at no interest and send them a refund, at government expense.

BTW, if I had my way... the state and federal income tax codes, along with present sales and property taxes, would be shredded and everyone (including businesses) buying anything but food to be cooked at home and up to $400 for clothing a month would pay a sales tax; no exemptions or exceptions. And we would be teaching children from about kindergarten how to manage personal finances.

[Cookie]

You got to realize to Gary what you are paying is probably far more than what the govn makes off of an individual who gets a refund. Or what it costs them to send out a refund. Infact, probably many individuals.It is all in being able to make a choice. We always did our taxes, which included a business, home interest, estimated quarterly taxes, the works. So, we saved always saved in not paying someone those mega bucks. Never once making a mistake. It is okay if anyone decides not to do their own, too. It is a matter of choice and people have their reasons for both. We liked doing our taxes. We liked saving the money and passing it on to St. Judes. The site I put on here, is great. It is really great for someone new to doing their taxes especially, it is as easy as pie, walking the person through everything and learning the tax rules and laws on the way. And, with this site it even lowers making a mistake more, and their is a phone number to call for the IRS if need be with any questions. I always suggest leaving a little wiggle room when calcuating your taxes it is better to have alittle bit of a cushion, you are not losing very much at all in interest.

[Gary Slusser]

Well, I can only speak for myself and my husband because I don't know why others like or want a refund. But for us, we liked having a cushion so we don't owe, I still like that little bit of a cushion. We were and are very disciplined. Plus, we donated the money for twenty some years to St. Jude's hospital for kids.

Then what was the problem that you couldn't save the money in a savings account yourselves and earn interest on it and write the same check for a bit more money than just the no interest tax refund? You'd still have the "cushion" and if needed you could actualy get it, you can't get the "cushion" when the government has the money until they refund it to you. That's once a year and only after you file a tax return that then calls for a refund. I don't see a cushion that can be used until then.

So, far as teaching kids about managing personal finances in Kindergarten, let them enjoy life alittle before we bestow upon them the real world. Give them a quarter or a buck and let them buy a treat with it. Life comes at ya all too fast as it is. Kids at that age need to be exactly that, kids.

Life comes at the uninformed and unprepared young adult much faster and stays around for a lot longer than a child that is taught proper money management at an early age.

So exchange a few carefree make believe developmental years of no worries compared to a life of misery not managing money correctly for decades after childhood... I don't think that is a fair trade and actually it's cruel and should be called child abuse IMO.

It's the same as when a parent fails to discipline their children and allows them to grow up without them learning self discipline.

Usually today it is the vast majority of single mothers and their boyfriends or the husbands of an ex single mom going along to get along that are doing that by wanting to be friends with their kids (saying 'I don't want them to be upset"...). That prevents the kids from suffering any consequences of their immature financial or other decisions. Spoiled kids grow into spoiled adults with unrealistic attitudes.

[Gary Slusser]

You got to realize to Gary what you are paying is probably far more than what the govn makes off of an individual who gets a refund.

The person/company I use charges me less than $225/yr although it may go over that this year. That's less than $25/month and she is an accountant and IRS certified or whatever they call it doing taxes etc, full time and has been for decades.

[Cookie]

Nah, they turn into meanies.

Then what was the problem that you couldn't save the money in a savings account yourselves and earn interest on it and write the same check for a bit more money than just the no interest tax refund? You'd still have the "cushion" and if needed you could actualy get it, you can't get the "cushion" when the government has the money until they refund it to you. That's once a year and only after you file a tax return that then calls for a refund. I don't see a cushion that can be used until then.


Life comes at the uninformed and unprepared young adult much faster and stays around for a lot longer than a child that is taught proper money management at an early age.

So exchange a few carefree make believe developmental years of no worries compared to a life of misery not managing money correctly for decades after childhood... I don't think that is a fair trade and actually it's cruel and should be called child abuse IMO.

It's the same as when a parent fails to discipline their children and allows them to grow up without them learning self discipline.

Usually today it is the vast majority of single mothers and their boyfriends or the husbands of an ex single mom going along to get along that are doing that by wanting to be friends with their kids (saying 'I don't want them to be upset"...). That prevents the kids from suffering any consequences of their immature financial or other decisions. Spoiled kids grow into spoiled adults with unrealistic attitudes.

[Cookie]

If you are happy with that that is all that counts for you. To me a penny saved is a penny earned. Or more I can donate at tax time.

The person/company I use charges me less than $225/yr although it may go over that this year. That's less than $25/month and she is an accountant and IRS certified or whatever they call it doing taxes etc, full time and has been for decades.

[Cookie]

I love talking to anyone of my peers in child development lol, yours is different Gary.

Then what was the problem that you couldn't save the money in a savings account yourselves and earn interest on it and write the same check for a bit more money than just the no interest tax refund? You'd still have the "cushion" and if needed you could actualy get it, you can't get the "cushion" when the government has the money until they refund it to you. That's once a year and only after you file a tax return that then calls for a refund. I don't see a cushion that can be used until then.


Life comes at the uninformed and unprepared young adult much faster and stays around for a lot longer than a child that is taught proper money management at an early age.

So exchange a few carefree make believe developmental years of no worries compared to a life of misery not managing money correctly for decades after childhood... I don't think that is a fair trade and actually it's cruel and should be called child abuse IMO.

It's the same as when a parent fails to discipline their children and allows them to grow up without them learning self discipline.

Usually today it is the vast majority of single mothers and their boyfriends or the husbands of an ex single mom going along to get along that are doing that by wanting to be friends with their kids (saying 'I don't want them to be upset"...). That prevents the kids from suffering any consequences of their immature financial or other decisions. Spoiled kids grow into spoiled adults with unrealistic attitudes.

[Cookie]

It is easier our way for us. That is what counts for us Gary. Or me, since he is gone.

Then what was the problem that you couldn't save the money in a savings account yourselves and earn interest on it and write the same check for a bit more money than just the no interest tax refund? You'd still have the "cushion" and if needed you could actualy get it, you can't get the "cushion" when the government has the money until they refund it to you. That's once a year and only after you file a tax return that then calls for a refund. I don't see a cushion that can be used until then.


Life comes at the uninformed and unprepared young adult much faster and stays around for a lot longer than a child that is taught proper money management at an early age.

So exchange a few carefree make believe developmental years of no worries compared to a life of misery not managing money correctly for decades after childhood... I don't think that is a fair trade and actually it's cruel and should be called child abuse IMO.

It's the same as when a parent fails to discipline their children and allows them to grow up without them learning self discipline.

Usually today it is the vast majority of single mothers and their boyfriends or the husbands of an ex single mom going along to get along that are doing that by wanting to be friends with their kids (saying 'I don't want them to be upset"...). That prevents the kids from suffering any consequences of their immature financial or other decisions. Spoiled kids grow into spoiled adults with unrealistic attitudes.

[Cookie]

To anyone interested in the site I posted, it truly is a great site, it works well. That is all I posted, lol.