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Other => General Discussion => Topic started by: Concentric Eyewall on March 11, 2008, 04:47:04 PM

Title: Taxes
Post by: Concentric Eyewall on March 11, 2008, 04:47:04 PM
For those of you old enough who figure your own taxes, without getting too personal, I'd thought this would be a good place to share any advice, ask questions if you get stuck, etc. on filing your return. :)
Title: Re: Taxes
Post by: twcclassics on March 12, 2008, 10:36:35 AM
If you get stuck, make sure you tell the box you're stuck. :P
Title: Re: Taxes
Post by: lfmusiclover on March 12, 2008, 01:24:22 PM
I usually use TaxAct to file mine every year. Unless a person has difficult circumstances I honestly can;t understand why people get stuck filing taxes. It's pretty straightforward really.
Title: Re: Taxes
Post by: Concentric Eyewall on March 12, 2008, 01:34:39 PM
Hey, I use Taxact, too!

Actually, I'm ripping my hair out trying to figure out how report a stock sale to the stupid IRS.  They want me to figure how much I bought it for to determine how much of a gain or loss it was...more complicated than it sounds <_<
Title: Re: Taxes
Post by: beanboy89 on March 12, 2008, 01:37:47 PM
I need to do mine one of these days that I'm home on spring break. I don't think it should be too difficult.
Title: Re: Taxes
Post by: Localonthe8s on March 12, 2008, 01:53:37 PM
You have to file tax returns in college? :shocked:
Title: Re: Taxes
Post by: Concentric Eyewall on March 12, 2008, 01:55:42 PM
You have to file tax returns if you had income...doesn't matter how old you are.
Title: Re: Taxes
Post by: Localonthe8s on March 12, 2008, 01:58:00 PM
High schoolers have to fill them out too?
Title: Re: Taxes
Post by: beanboy89 on March 12, 2008, 01:58:47 PM
High schoolers have to fill them out too?
Yes. Like Dan said, if you had an income, you must file taxes.
Title: Re: Taxes
Post by: Localonthe8s on March 12, 2008, 02:00:27 PM
Does this inclide property taxes and taxes for school?
Title: Re: Taxes
Post by: tpirfan28 on March 12, 2008, 02:02:58 PM
You are not required to file federal taxes if you make less than $5,000-some odd dollars.  You can file to reclaim your withheld federal income taxes (like I am).

You are required to file state income taxes, in most if not all cases.

I use TurboTax.
Title: Re: Taxes
Post by: Concentric Eyewall on March 12, 2008, 02:11:29 PM
You are not required to file federal taxes if you make less than $5,000-some odd dollars.  You can file to reclaim your withheld federal income taxes (like I am).

You are required to file state income taxes, in most if not all cases.

I use TurboTax.

Yea, $5350.  However, you have to file if you have more than only $850 in unearned income as well :yes:
Title: Re: Taxes
Post by: Gil on March 12, 2008, 04:19:49 PM
The thought of doing any major financial work on a computer would scare me tremendously. I would never trust a computer with such information. My dad always does ours without a computer :yes:
Title: Re: Taxes
Post by: Concentric Eyewall on March 12, 2008, 05:47:12 PM
That's understandable, however there's virtually no chance of any of your data to become exposed, especially since sites like Taxact.com are endorsed by the IRS...you don't want to mess with the IRS :P
Title: Re: Taxes
Post by: Gil on March 12, 2008, 05:57:58 PM
Don't you have to buy new software every year too, with changes in tax laws and stuff? Seems like that can get really expensive after just a few years.
Title: Re: Taxes
Post by: Concentric Eyewall on March 12, 2008, 06:00:45 PM
Some...Taxact and many other websites let you do it for free.
Title: Re: Taxes
Post by: beanboy89 on March 12, 2008, 08:04:33 PM
Just got mine done tonight.
Title: Re: Taxes
Post by: wxmediafan on March 14, 2008, 05:15:14 PM
Shoot, completely forgot!  I will probably do mine on my day off next week.
Title: Re: Taxes
Post by: LFMusicRocks on March 14, 2008, 11:41:34 PM
My dad will definitely pay his taxes before the deadline
Title: Re: Taxes
Post by: lfmusiclover on March 14, 2008, 11:44:37 PM
On a related note, I'm very unhappy about these rebates we're gonna get. Apparently you have to have made at least $3500 this past tax year, and I did not. I hope I get at least a partial rebate, but knowing my luck all I'll get is a goose egg.

Thank you government!  :rolleyes:
Title: Re: Taxes
Post by: beanboy89 on March 15, 2008, 01:14:12 AM
On a related note, I'm very unhappy about these rebates we're gonna get. Apparently you have to have made at least $3500 this past tax year, and I did not. I hope I get at least a partial rebate, but knowing my luck all I'll get is a goose egg.

Thank you government!  :rolleyes:
I made just under the amount needed to get a big rebate, so I'm not getting anything significant as far as rebates (I think it's like $17 or something).
Title: Re: Taxes
Post by: Gil on March 15, 2008, 08:29:12 AM
It's better than nothing. :)
Title: Re: Taxes
Post by: Localonthe8s on March 15, 2008, 11:49:03 AM
I heard Obama and Clinton are going to raise taxes for the middle class! Are taxes are already high!  :furious:
Title: Re: Taxes
Post by: lfmusiclover on March 15, 2008, 12:02:31 PM
It's better than nothing. :)

You have no idea Gil.
Title: Re: Taxes
Post by: Gil on March 15, 2008, 12:48:03 PM
It's better than nothing. :)

You have no idea Gil.
Well, that SHOULD tell you something. Personally, I'd rather get back $17 then have them take away $100 more. Be greatfull for everything.
Title: Re: Taxes
Post by: lfmusiclover on March 15, 2008, 02:00:09 PM
It's better than nothing. :)

You have no idea Gil.
Well, that SHOULD tell you something. Personally, I'd rather get back $17 then have them take away $100 more. Be greatfull for everything.

The right thing to do would be to give the lower and middle class people rebates, instead of middle and upper.
Title: Re: Taxes
Post by: Gil on March 15, 2008, 02:08:27 PM
It's better than nothing. :)

You have no idea Gil.
Well, that SHOULD tell you something. Personally, I'd rather get back $17 then have them take away $100 more. Be greatfull for everything.

The right thing to do would be to give the lower and middle class people rebates, instead of middle and upper.
Very true. :)
Title: Re: Taxes
Post by: Concentric Eyewall on March 15, 2008, 10:06:54 PM
On a related note, I'm very unhappy about these rebates we're gonna get. Apparently you have to have made at least $3500 this past tax year, and I did not. I hope I get at least a partial rebate, but knowing my luck all I'll get is a goose egg.

Thank you government!  :rolleyes:
I made just under the amount needed to get a big rebate, so I'm not getting anything significant as far as rebates (I think it's like $17 or something).

Billy, are you thinking of your tax refund, or your stimulus rebate?
Title: Re: Taxes
Post by: beanboy89 on March 15, 2008, 10:12:05 PM
On a related note, I'm very unhappy about these rebates we're gonna get. Apparently you have to have made at least $3500 this past tax year, and I did not. I hope I get at least a partial rebate, but knowing my luck all I'll get is a goose egg.

Thank you government!  :rolleyes:
I made just under the amount needed to get a big rebate, so I'm not getting anything significant as far as rebates (I think it's like $17 or something).

Billy, are you thinking of your tax refund, or your stimulus rebate?
Federal tax refund, not the stimulus rebate.
Title: Re: Taxes
Post by: Concentric Eyewall on March 15, 2008, 10:14:45 PM
That's what I thought.  I think everyone else is talking about the stimulus rebates (based upon what I've read) :unsure:
Title: Re: Taxes
Post by: lfmusiclover on March 15, 2008, 10:38:03 PM
Yes, I was talking about the stimulus rebates. :yes:
Title: Re: Taxes
Post by: beanboy89 on March 15, 2008, 10:41:42 PM
But regardless, I don't think I'm getting anything as far as the stimulus rebates because I made just under the minimum amount. <_<
Title: Re: Taxes
Post by: Concentric Eyewall on March 15, 2008, 10:46:58 PM
Well, also keep in mind that you can't get a rebate if you an be claimed a dependent on another's return.
Title: Re: Taxes
Post by: lfmusiclover on March 15, 2008, 11:03:57 PM
I don't have to worry about that. I'm to old to be claimed as anyone else's dependent.
Title: Re: Taxes
Post by: tpirfan28 on March 17, 2008, 04:29:36 PM
Well, also keep in mind that you can't get a rebate if you an be claimed a dependent on another's return.
<political rant = ON>
Yeah, I was claimed on my parent's return as a dependent, and didn't qualify them for the extra $300.  But I made enough to qualify for it myself.  But since I was a dependent on my parent's return, I couldn't get it.  F'in screwed out of $300.  Monkeys.
<political rant = OFF>
Title: Re: Taxes
Post by: lfmusiclover on March 17, 2008, 05:23:16 PM
Well, also keep in mind that you can't get a rebate if you an be claimed a dependent on another's return.
<political rant = ON>
Yeah, I was claimed on my parent's return as a dependent, and didn't qualify them for the extra $300.  But I made enough to qualify for it myself.  But since I was a dependent on my parent's return, I couldn't get it.  F'in screwed out of $300.  Monkeys.
<political rant = OFF>

They can file a revised return. :yes:
Title: Re: Taxes
Post by: Concentric Eyewall on March 17, 2008, 06:07:07 PM
Actually, I hate to be the bearer of bad news, but according to the IRS "People cannot be claimed as dependents or eligible to be claimed as dependents on another's tax return."

So even if your parents have the choice to claim you as a dependent and don't, you still can't get the payment because you passed the dependent checklist (http://www.irs.gov/pub/irs-pdf/p501.pdf) (page 10, table 5) :(
Title: Re: Taxes
Post by: LFMusicRocks on March 18, 2008, 02:32:38 AM
Yes, I was talking about the stimulus rebates. :yes:

Do you pay your taxes before the tax deadline Gary?
Title: Re: Taxes
Post by: wxmediafan on March 18, 2008, 07:08:27 AM
I made just under 3500 as well, but, I'm not too heated that I won't get the money.  It would for sure help, but, it's not that much of a big deal to me.
I think if you pay taxes, you should get at least something back.
Title: Re: Taxes
Post by: lfmusiclover on March 18, 2008, 08:34:12 AM
Yes, I was talking about the stimulus rebates. :yes:

Do you pay your taxes before the tax deadline Gary?

I have yet to have to pay taxes. I've been owed a refund each of the 4 times I've filed thus far in my life.  ;)

I agree completley Kyle. :yes:
Title: Re: Taxes
Post by: LFMusicRocks on March 18, 2008, 08:15:57 PM
That's great. It's good so that you don't avoid any increase after tax day
Title: Re: Taxes
Post by: Concentric Eyewall on April 15, 2008, 12:07:09 AM
Alrighty, everyone.  Guess everyone knows what tomorrow is.  It's you against the IRS.  :fight:
Title: Re: Taxes
Post by: lfmusiclover on April 15, 2008, 12:07:53 AM
Talk about a losing battle.  :ninja:  :lol:
Title: Re: Taxes
Post by: wxmediafan on April 15, 2008, 07:13:57 AM
haha!

I already filed, and should be getting my money back in the near future (hopefully faster than I think..doubt it though :P )