I just got raped by the IRS

[bsman]

Planning is a good and important thing. This year, we ended up owing $51 federal and getting back about $750 from state. I normally look at where we are in December and then we make our charitable contributions based on what we have available and where we want to be tax-wise. Of course, if you don't itemize, it's even easier to determine where you will be coming out based on only six months. Before we had a house (mortgage), I used to look at where we were (i.e. income and withholding) in July and adjust our W-4s if necessary at that time. The only times I've ever had a huge refund or owed more than $1K were as a result of unusual financial events.

 

[Chad]

To be fair, if you don't make any money your taxes can be really simple. Sadly I know from experience

Also, at least around here, there are plenty of free tax services for poor people.

I once made no money too

Remember the old saying "you get what you pay for." I'm sure those places do a decent job and I'm sure they make sure you won't get audited by the IRS but they probably don't get you back all you could get. And yes back in the day when I worked at a pizza joint, the taxes were simple, but english is my first language so filing the 1040 EZ form was a breeze. But when I made no money, I was single and had no kids either.

That's neither here nor there, the tax system is a joke and really needs to be simplified. The only reason it is so mucked up is to keep accountants employed and help the mega rich pay no taxes.

 

[DdBob]

Really not trying to sound unsympathetic, but is that $400+ for one person? That's .... really off.

yeah I just looked....409.89 for myself. I've only had one ER visit since 2006 about two years ago for kidney stones. Before that a hernia operation in 2006 and a hernia op in about 2001 before that nothing.I'm not on any meds I don't cost the bastards anything. I'm a 46 year old singfle male non smoker.

 

[Steverino]

Just finished doing my taxes. It wasn't the IRS that screwed me this year, it was the state of MS. Jesus. I paid in almost a grand and still owed another 77 bucks. Shysters!

 

[Chicken Man]

That's neither here nor there, the tax system is a joke and really needs to be simplified. The only reason it is so mucked up is to keep accountants employed and help the mega rich pay no taxes.

And subsidize conservation and renewable energy, and incentivise investment and charity, and so on. Everyone thinks the ta x code is too complicated until anyone tries to change it.

 

[Theodore]

Try being self-employed. *spits*

 

[Lerxst]

Try being self-employed. *spits*

That's a two way street. You get hit w/ SE taxes on your net but you also have the ability to write off expenses directly against income that non-SE people don't or would be limited. Not to mention it's really easy to bury questionable expenses on your sch C. But it's also pretty easy and inexpensive to incorporate if you want to go in that direction.