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Federal and State Taxes for 2009 due 15 April 2010 (US obviously)

Marc

Captain Nice
Staff member
Admin
#1
OK - First, this is NOT to be a political thread. So Please - Keep on topic.

I use Quicken to do all my accounting stuff, personal and business. I use Quicken on the Mac (*Quicken on the PC is *much* better feature wise, but the program for the Mac is sufficient for me {In short this isn't a Mac centric thread}). For quite a few years now I have scheduled the last week in February as the time to send in my federal and state taxes. I know what I made last year and I have 1099's, etc.

I'm also like this with Christmas - Buy presents in October and avoid the rush...

So - I export for, and import into, TurboTax and my return is complete. Print and mail.

How do you approach filing your federal and state returns? Do you frantically get an appointment at an H&R Block office a few days before the deadline? Do you have an accountant that does everything for you? Do you wait until the filing deadline? Have you filed on the last day of the deadline? If so, is it because you owe and will have to write a check? Or do you plan in advance so you always have a 'credit' to either carry over (which is what I always do) or to get as a refund but wait to file anyway?

I'm just curious about how you folks approach paying your taxes. I sent mine in last Wednesday.

*Reminder: No politics in replies. This is not about whether taxes are good or bad.
 

Jim Wynne

Staff member
Admin
#2
OK - First, this is NOT to be a political thread. So Please - Keep on topic.

I use Quicken to do all my accounting stuff, personal and business. I use Quicken on the Mac (*Quicken on the PC is *much* better feature wise, but the program for the Mac is sufficient for me {In short this isn't a Mac centric thread}). For quite a few years now I have scheduled the last week in February as the time to send in my federal and state taxes. I know what I made last year and I have 1099's, etc.

I'm also like this with Christmas - Buy presents in October and avoid the rush...

So - I export for, and import into, TurboTax and my return is complete. Print and mail.

How do you approach filing your federal and state returns? Do you frantically get an appointment at an H&R Block office a few days before the deadline? Do you have an accountant that does everything for you? Do you wait until the filing deadline? Have you filed on the last day of the deadline? If so, is it because you owe and will have to write a check? Or do you plan in advance so you always have a 'credit' to either carry over (which is what I always do) or to get as a refund but wait to file anyway?

I'm just curious about how you folks approach paying your taxes. I sent mine in last Wednesday.

*Reminder: No politics in replies. This is not about whether taxes are good or bad.
I've been using TaxAct since 2002, on my own computer as opposed to doing everything online. We try to keep as close to breaking even every year as possible, and I do the returns within a few days of having all of the information available (usually mid-February) and file right away.
 

Randy

Super Moderator
#3
We use a private accountant here in Arkansas who has served us well for about 7 years. Before her, while in california, we used a contracted service provided by the US Army JAG Office.

Our instructions have been consistant...give the IRS the benefit of the doubt, and it has helped to keep us out of dutch so far.
 
D

dknox4

#4
For about the past 10 years I've used turbotax (it's pretty user friendly) and usually "do" the taxes around the end of Feb, and then if I owe, wait until early April to file, or if I'm getting something back, file sooner. This year I'm going with a friend's mother who has been doing taxes a while. I want to get a sanity check on what I've been doing and throw her some work.
 
C

Craig H.

#5
I use a tax package and file myself, but my return is fairly straightforward. I did have big problems with Turbotax a few years ago, as did a LOT of people. Crashed my whole system.

I have been thinking about getting the paperwork together to start a small business for the tax advantages, though. Maybe something where I could write off a ski trip. That would make things a little more complicated.

Oh, and our HR folks usually have our 1040s in our hands by the second week of January or so. I had my return filed electronically by the end of the first week of February.
 

SteelMaiden

Super Moderator
Super Moderator
#6
I've used Turbotax for quite a few years now. I've never had any problems. I usually say I will do my taxes mid-feb, but it always seems to end up not getting done until March.
 

BradM

Staff member
Admin
#7
I've been using a lady at my church for almost 10 years now. It was really necessary when I owned my own business.

At that time, I tried Turbotax. But everytime I entered something, it would pop up some other form I had to complete.:confused:

I think if I was just doing straight line entry with no itemized deductions, I would start doing it myself. But, that is also when her rates are the least expensive. :)

I just like having a go-to person, should something ever arise. Like Randy stated, this woman is right in my comfort zone on things.:agree1:
 

SteelMaiden

Super Moderator
Super Moderator
#8
At that time, I tried Turbotax. But everytime I entered something, it would pop up some other form I had to complete.:confused:
Brad, I think that is what happens when you have a business and itemize....lots of forms to fill out!:lmao:

If I could find someone who would do my taxes for a reasonable rate, I'd love to let someone else do them. The chain tax people here charge me 5 times what I used to have to pay before I moved (same chain). Here I have a straight itemized return, nothing fancy. Before I moved I had farm income, depreciation on buildings and farm equipment, on top of my regular day job. Go figure.
 
C

Craig H.

#9
Brad, I think that is what happens when you have a business and itemize....lots of forms to fill out!:lmao:

If I could find someone who would do my taxes for a reasonable rate, I'd love to let someone else do them. The chain tax people here charge me 5 times what I used to have to pay before I moved (same chain). Here I have a straight itemized return, nothing fancy. Before I moved I had farm income, depreciation on buildings and farm equipment, on top of my regular day job. Go figure.
Its been a while since I took the tax class, but there used to be several really cool breaks for farmers. Even the hobby loss rules were different for people raising horses. (Hobby loss= number of years an enterprise can lose money before they are considered a hobby instead of a business where you can deduct operating losses.) In that case, tax advice would likely be a very good investment.
 

SteelMaiden

Super Moderator
Super Moderator
#10
Yeah, that is why when I owned the farm I always let someone else handle the taxes. I had an accountant that also had a franchise of one of the big tax prep places. She was great and the cost was really reasonable. Here, not so much, and my taxes are so much simpler. Fo figure.
 
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