Albany,n.y. Posted January 31 Posted January 31 (edited) I completed it on Saturday 1/27, E filed & it was accepted 1st thing Monday 1/29 when IRS opened up filing. Refund is in my bank account 1/31. Edited January 31 by Albany,n.y. 4 Quote
Ridgewaycynic2013 Posted January 31 Posted January 31 And that's $8.16 in your pocket that's not in theirs! 😉😁 6 Quote
Albany,n.y. Posted February 8 Author Posted February 8 20 minutes ago, Fleezoid said: Refund? What's that? I get a decent refund because I want extra money in late January/early February in case the Bills make it to the Super Bowl. 3 1 Quote
Augie Posted February 8 Posted February 8 29 minutes ago, Albany,n.y. said: I get a decent refund because I want extra money in late January/early February in case the Bills make it to the Super Bowl. You have a good plan in place! We always aim for a refund, but we were surprised to find that some behind the scenes stuff caused us to owe big this year. As much as I hate taxes, it’s a good problem to have I suppose. I’m in less of a hurry than usual. Quote
ExiledInIllinois Posted February 8 Posted February 8 38 minutes ago, Augie said: You have a good plan in place! We always aim for a refund, but we were surprised to find that some behind the scenes stuff caused us to owe big this year. As much as I hate taxes, it’s a good problem to have I suppose. I’m in less of a hurry than usual. Ever since 2017 they withhold less from my wife. I just set it aside throughout the year and pay on 4/15... Anyway, you can do your taxes earlier and delay the payment till the 15th. 😉 Set up an EFT from where ever the payment will be. Quote
Augie Posted February 8 Posted February 8 49 minutes ago, ExiledInIllinois said: Ever since 2017 they withhold less from my wife. I just set it aside throughout the year and pay on 4/15... Anyway, you can do your taxes earlier and delay the payment till the 15th. 😉 Set up an EFT from where ever the payment will be. My wife does our taxes, then I take it to the CPA who does our taxes. 🤷♂️ She was thrilled when I retired because all the self-employed stuff was a PITA for her. I’m not like my father wanting to hold onto the money as long as possible. “Why should I let them sit on my money?” Like it was going to amount to anything meaningful for an extra month or two. If we owe anything, we feel better knowing it’s been paid. The only exception is our mortgage fixed at 2.75%. We are quite fond of our mortgage. 😋 2 Quote
EmotionallyUnstable Posted February 9 Posted February 9 We’ve used turbo tax for the past five years to e-file. We generally get our return within a week. When I was younger, I liked getting a fat return. Felt like free money to play with (vacation, etc). Now with a young family, we adjusted our withholding to try and balance it out so we don’t owe but are getting most of our $$$ month to Monday, as that’s when we need it. Child tax credit helps and is just about what we get back, so our Withholdings would otherwise be pretty close to accurate. Quote
Miyagi-Do Karate Posted February 9 Posted February 9 I never understood how people filed so early. I feel like we don’t get half of our tax documents until like March. 2 Quote
Albany,n.y. Posted February 9 Author Posted February 9 14 hours ago, Miyagi-Do Karate said: I never understood how people filed so early. I feel like we don’t get half of our tax documents until like March. I'm retired & have a very simple return. All I have is interest, pension & Social Security. My annual interest is on my December bank statement that I get at the beginning of January, my Social Security 1099 comes in the middle of January & my pension 1099 is available either by mail or on-line by the Saturday before the 1st day the IRS accepts filings. I also use the standard deduction, so I don't have to dig for any expenses. 2 Quote
T&C Posted February 9 Posted February 9 3 hours ago, Albany,n.y. said: I'm retired & have a very simple return. All I have is interest, pension & Social Security. My annual interest is on my December bank statement that I get at the beginning of January, my Social Security 1099 comes in the middle of January & my pension 1099 is available either by mail or on-line by the Saturday before the 1st day the IRS accepts filings. I also use the standard deduction, so I don't have to dig for any expenses. If you live in NY isn't the SS 1099 just a worthless piece of paper seeing as no taxes are taken out? Quote
Albany,n.y. Posted February 9 Author Posted February 9 26 minutes ago, T&C said: If you live in NY isn't the SS 1099 just a worthless piece of paper seeing as no taxes are taken out? No. The feds tax SS and I withhold 25%. Quote
Irv Posted February 9 Posted February 9 Refund. Bad idea. Worst thing you can do is to loan the government your money, throughout the year, interest free. Pay your taxes at the last minute. 1 Quote
Logic Posted February 9 Posted February 9 4 minutes ago, Irv said: Refund. Bad idea. Worst thing you can do is to loan the government your money, throughout the year, interest free. Pay your taxes at the last minute. I look forward to the expert tax advice that's likely to manifest in this thread. One ought to always heed the financial advice of fellow internet football message board members. 2 1 1 2 Quote
Augie Posted February 9 Posted February 9 8 minutes ago, Irv said: Refund. Bad idea. Worst thing you can do is to loan the government your money, throughout the year, interest free. Pay your taxes at the last minute. Dad? Is that you??? 😋 2 Quote
Irv Posted February 9 Posted February 9 29 minutes ago, Logic said: I look forward to the expert tax advice that's likely to manifest in this thread. One ought to always heed the financial advice of fellow internet football message board members. Take my advice. You might actually make something of yourself. 1 Quote
Fleezoid Posted February 9 Posted February 9 37 minutes ago, Irv said: Refund. Bad idea. Worst thing you can do is to loan the government your money, throughout the year, interest free. Pay your taxes at the last minute. I read that line in his voice... 4 Quote
Mike in Horseheads Posted February 9 Posted February 9 I usually have everything by presidents day and do it then using Turbo Tax. i like a refund but didn't make any quarterly tax payments this year so could be screwed. Quote
Albany,n.y. Posted February 9 Author Posted February 9 1 hour ago, Irv said: Refund. Bad idea. Worst thing you can do is to loan the government your money, throughout the year, interest free. Pay your taxes at the last minute. At current interest rates, the difference is negligible on paying extra on your salary and getting a refund, especially with only 12 months of payments in before cashing out. The Christmas Club rates at my bank are 0.5% The best choice is based on lifestyle. I want Super Bowl money & don't have the discipline to put together a Super Bowl fund all year, so I let the government hold my Super Bowl fund until the game. Now with no Super Bowl, I have a few extra thousand to spend recklessly. 2 Quote
T&C Posted February 10 Posted February 10 2 hours ago, Albany,n.y. said: No. The feds tax SS and I withhold 25%. I believe you have to hit a certain threshold for SS to be taxed, so not everyone is taxed. https://smartasset.com/retirement/is-social-security-income-taxable Quote
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