tag:blogger.com,1999:blog-626594980028435818.post5147609227631401084..comments2024-03-28T18:11:40.841-04:00Comments on Sightings Over Sixty: What You Learn if You Do Your Own TaxesTomhttp://www.blogger.com/profile/08611148987085476580noreply@blogger.comBlogger15125tag:blogger.com,1999:blog-626594980028435818.post-53061972643051769572013-03-21T13:44:26.173-04:002013-03-21T13:44:26.173-04:00This is really a splendid story, Tom. It seems lik...This is really a splendid story, Tom. It seems like it’s too easy for you to handle the tax on your own. Doing taxes are too complicated, which ’s why a newbie must consult a specialist for this kind of task.Winston Suttonhttp://ohio.fixtaxproblemsnow.com/noreply@blogger.comtag:blogger.com,1999:blog-626594980028435818.post-35646589376176088752013-03-05T13:31:11.140-05:002013-03-05T13:31:11.140-05:00I remember the first time I experienced paying my ...I remember the first time I experienced paying my taxes by myself. I was a bit nervous that time. It's like walking in a dark path with no idea on where to turn to. Luckily, there was this old colleague of mine in that area. He helped me to get familiar with the procedure. I also learned that I can make monthly installment payments. Lauren Padillahttp://fixtaxproblemsnow.com/noreply@blogger.comtag:blogger.com,1999:blog-626594980028435818.post-3855737005998162282012-10-31T14:17:16.575-04:002012-10-31T14:17:16.575-04:00I applaud you for having the diligence to do your ...I applaud you for having the diligence to do your taxes yourself. It does take quite a bit of determination to look at the numbers and equations and just figure out what you have to do with them. That’s a good observation you made regarding saving and investing. That is why a lot of people say that the big money is in investing and in playing with stocks. Because you’re essentially getting good money with virtually no deductions waiting for you.Kathy Gregoryhttp://illinois.fixtaxproblemsnow.com/get-tax-relief-now/noreply@blogger.comtag:blogger.com,1999:blog-626594980028435818.post-79117717695456246232012-04-03T09:38:34.648-04:002012-04-03T09:38:34.648-04:00Agree! And stock sales and dividends are just the ...Agree! And stock sales and dividends are just the beginning. For many years living overseas, we had the extra complexity of accounting for our home, which we rented out - learned all the ins and outs of several different kinds of depreciation, etc. Now we're retired but my wife has a small business and again, the intricacies of that yield not only understanding, but a useful mental challenge.<br /><br />One year, back in the 1980s, I had a triply complicated tax situation and little time to deal with it. I went to a "pro." Not only do you have to organize everything for them, leaving them the easy part, but he just put my data into Turbotax anyway. Oh, and when I examined the "final" return, I found two or three arithmetic errors, including several thousand in deductible interest that was entered as only several hundred. Never again!JHawk23http://www.thetinlizard.comnoreply@blogger.comtag:blogger.com,1999:blog-626594980028435818.post-21984715286160062502012-04-01T12:56:06.170-04:002012-04-01T12:56:06.170-04:00I've been doing my taxes forever and I have to...I've been doing my taxes forever and I have to admit I enjoy it, whether by hand or by Turbotax. But then, I was a systems analyst when I worked for money, so it's how my brain is wired.<br /><br />You're right - Washington State has no income tax. But where I live the sales tax is 9.5 percent instead.Linda Myershttps://www.blogger.com/profile/05706455533282204519noreply@blogger.comtag:blogger.com,1999:blog-626594980028435818.post-89790612240849433022012-04-01T10:26:06.837-04:002012-04-01T10:26:06.837-04:00You certainly generated a lot of discussion. Re yo...You certainly generated a lot of discussion. Re your question to me. No I don't like the Individual Mandate in the new Health Care Law. Big government overreach in my book. A better way would have been to use Paul Ryan's idea which was to give those (like me) who buy health insurance a tax break. Anyone wanting the break would buy insurance or not. This should take care of the free riders. Or not. It's complicated.<br /><br />Very afraid of the 'preexisting condtion' idea. Does this mean any old thing or will it cover items like Cerebral Palsy? Need more specificity. <br /><br />I want to see the extension for kids to age 26 preserved, and let parents and/or employers pay the insurance premium increase.<br /><br />Also, extending Medicaid to cover single adults who are not already covered by Medicare should help. <br /><br />These two changes would cover most of the uninsured without wrecking what we already have in place.<br /><br />Hopefully, when the law is determined unconstitutional the powers that be will go back to the drawing table and fashion something sensible. <br /><br />Take it away from the Feds and let the states do it I say. <br /><br />Dianneschmidleysscribblins,wordpress.comhttp://schmidleysscribblins.wordpress.comnoreply@blogger.comtag:blogger.com,1999:blog-626594980028435818.post-47417920898105856602012-04-01T02:26:24.218-04:002012-04-01T02:26:24.218-04:00I don't think that Texas has state income tax,...I don't think that Texas has state income tax, but they have high sales tax. Here in Oregon we have state income tax, but no sales tax. Best of both worlds would be to live in nearby Washington and do all my shopping in Oregon.#1Nanahttps://www.blogger.com/profile/04214011945298439939noreply@blogger.comtag:blogger.com,1999:blog-626594980028435818.post-54667345521979862722012-03-31T21:34:21.773-04:002012-03-31T21:34:21.773-04:00I've long since stopped trying to figure out m...I've long since stopped trying to figure out my own taxes-- I leave it to my husband, the accountant :-)<br />It's just to complicated and the rules keep changing.<br />Ugh.<br />jjJoanna Jenkinshttps://www.blogger.com/profile/10836376588710862173noreply@blogger.comtag:blogger.com,1999:blog-626594980028435818.post-18390521262627016282012-03-31T17:28:36.409-04:002012-03-31T17:28:36.409-04:00I been preparing taxes for over 35 years and some ...I been preparing taxes for over 35 years and some of your commentary is not correct. I don't want to take up your comment section with corrections though.<br /><br />H&R Block and similar franchises charge outrageous fees because only a portion of that fee goes to actual tax preparation. The rest goes to the national franchise to pay franchise fees and national advertising. You'll find a local accountant/preparer will normally be much cheaper because of that. My fees are ridiculously low compared to my competitors, because I charge by my time, not by the number of forms in the tax return. No matter how complicated, if it tax me a half hour to do the return, I charge a half hour rate.<br /><br />Starting this year, all tax preparers (except CPAs and attorneys) are required to take a competency test. Many of those temp preparers at the franchised offices will not be able to prepare taxes in the coming years -and that is a very good thing for the consumer.<br /><br />Turbo Tax is a good sofware program for the average taxpayer. I will say, however, that it doesn't give you all the little details that add up to saving you money. Just this week I redid a tax return a client had done with Turbo Tax and got him an additional refund that more than paid for my fee. His comment: "TurboTax didn't tell me I could do that." But I did and it wasn't something illegal or even in a "gray" area.<br /><br />By the way, I am a big proponent of eliminating the income tax system and inplementing the only "fair" tax - every man, woman and child should pay the same amount (i.e. $2000) and be able to keep all their money over that amount. People would spend, save, invest the balance and the economy would roll. It would also be a deterent to having children out of wedlock to get the bonus refund of earned income credit.Catch Her in the Wryhttps://www.blogger.com/profile/13052541966405145087noreply@blogger.comtag:blogger.com,1999:blog-626594980028435818.post-65615024376900103912012-03-31T16:16:22.473-04:002012-03-31T16:16:22.473-04:00I WISH I enjoyed the luxury of a spouse who did my...I WISH I enjoyed the luxury of a spouse who did my taxes!<br /><br />I've heard about all those people who don't pay taxes. I don't know who they are. I know some people with low incomes don't pay any Federal income tax, but they still pay Social Security tax, state tax, real estate tax, sales tax, etc. <br /><br />I must confess, taken altogether, I do pay a lower rate than Mitt Romney. Still ... I'm definitely in favor of him paying more, and me paying less!Tomhttps://www.blogger.com/profile/08611148987085476580noreply@blogger.comtag:blogger.com,1999:blog-626594980028435818.post-90557860390156529172012-03-31T13:54:16.492-04:002012-03-31T13:54:16.492-04:00How nice you and Mitt pay the same rate:))
Luckily...How nice you and Mitt pay the same rate:))<br />Luckily (or not) I am old enough and poor enough that I pay nothing. Even my real estate taxes are frozen since I hit 65 and I pay nothing there after exemptions. If it weren't for personal property tax and sales tax, I could finally be a free loader after 45 years of working.Arkansas Pattihttps://www.blogger.com/profile/14156004753267665579noreply@blogger.comtag:blogger.com,1999:blog-626594980028435818.post-13720155322349240152012-03-31T12:25:10.732-04:002012-03-31T12:25:10.732-04:00You make it sound so easy! Well, for some people. ...You make it sound so easy! Well, for some people. I have never done my taxes; my hubby does, and keeps me up to date, and taught our children to do theirs too. I better learn too.Rosaria Williamshttps://www.blogger.com/profile/03133147851332084180noreply@blogger.comtag:blogger.com,1999:blog-626594980028435818.post-4723183104881377732012-03-31T11:57:33.542-04:002012-03-31T11:57:33.542-04:00Srephen's comment is too funny. David does ou...Srephen's comment is too funny. David does our taxes using Turbotax. As you know the work you do before you use the Software is the difficult part. Why take it to H.R. Block if you already organized your paperwork?<br /><br />Nice write-up. I have noticed for years our income is in the wrong bracket, i.e. earned income. <br /><br />You didn't go into the subject of all those folks who don't pay any taxes at all. Of course, some are like my son who makes $16,000 per year as a Special Ed teacher in Southern VA (he is a contract worker in a Right to Work State).<br /><br />My son files taxes every year and gets a refund. He also gets by on the kindness of strangers. <br /><br />Dianneschmidleysscribblins,wordpress.comhttp://schmidleysscribblins.wordpress.comnoreply@blogger.comtag:blogger.com,1999:blog-626594980028435818.post-89233584722926142702012-03-31T01:15:21.538-04:002012-03-31T01:15:21.538-04:00Mrs.Chatterbox was once a tax consultant and she p...Mrs.Chatterbox was once a tax consultant and she prepares our taxes. I just sign on the dotted line. I was surprised when the last return she asked me to sign said to not resuscitate me.stephen Hayeshttps://www.blogger.com/profile/17659054447637207734noreply@blogger.comtag:blogger.com,1999:blog-626594980028435818.post-75846893526377557332012-03-30T19:53:03.506-04:002012-03-30T19:53:03.506-04:00Fascinating, Tom! You're right: doing taxes on...Fascinating, Tom! You're right: doing taxes on your own sure opens your eyes! Here I was feeling quite proud of myself for using TurboTax instead of an accountant (after years of complicated Schedule C's), but your way is better! I learned so much just by reading your post!Dr. Kathy McCoyhttps://www.blogger.com/profile/02903015507894951725noreply@blogger.com