2006 Tax Season

[abomb]

Here is a something to note when filing your 2006 taxes. Basically free money if you have had a landline in the past 4 years.

http://www.snopes.com/business/taxes/excise.asp?1

 

[Ryanwb]

Thx!

 

[Linderbee]

Funny you should bring up taxes...I just emailed my old office today to make sure my w-2 gets sent to the right address...I can't wait to get my taxes done...need the cash.

 

[Russ Smith]

So if I get that correctly it's any time in the last 4 years? Last nearly 3 the landline was in my girlfriend's name not mine, year before that mine. So I think we're both allowed to claim this on our taxes?

 

[abomb]

Funny you should bring up taxes...I just emailed my old office today to make sure my w-2 gets sent to the right address...I can't wait to get my taxes done...need the cash.

Me too!

 

[Mike Olbinski]

Me too!

Me three!

 

[Ryanwb]

Not me

ugh!

 

[jenna2891]

ugh!

lmao

 

[KingofCards]

Tax tips?

I need to figure out if I am missing any deductions on my taxes.

Any tips or websites to look through?

Thanks.

 

[Duckjake]

I need to figure out if I am missing any deductions on my taxes.

Any tips or websites to look through?

Thanks.

One thing many people miss are deductions for job related expenses when they are not owners. That's one thing to check out.

 

[jw7]

I'm probably the last person you would want to ask, since my returns for 2 out the last 3 years were disputed by the IRS.

Just get Turbo Tax. It asks you questions, finds deductions, and you can deduct the $40 or whatever it costs off next year's return.

I've used it for years and have all my tax returns soft copied on my computer.

BTW, The IRS found in my favor in both cases and I never had to pay any back taxes or penalties.

 

[KingofCards]

Thats what I used.

 

[Alan]

Taxes, taxes, taxes

I'm looking through TurboTax (yeah, yeah, but it's easy) and it asks me about my total tax rate. If I am reading it correctly, it says state sales tax + local sales tax = total sales tax. So I assume I put in the 6% PA tax and the 7% Philadelphia tax. Does this sound correct?

Ok, I take back that easy comment

 

[Mike Olbinski]

Hmm, where is it asking that? On the site as you're doing your forms?

Seems like TurboTax should know that stuff. I've used it for 5 years now.

 

[Linderbee]

sounds right to me.

 

[Alan]

Yeah, as I am doing the forms. I don't think it asked me that last year. I've gotten some different questions than last year. Weird.

 

[DeAnna]

Does Turbo Tax offer you software updates every year to cover new tax rules? Or do you have to purchase a new one every year?

I'm thinking of using it instead of going to H&R Block.

 

[KingofCards]

It is on the internet and updated for each year's tax laws.

 

[jw7]

Does Turbo Tax offer you software updates every year to cover new tax rules? Or do you have to purchase a new one every year?

I'm thinking of using it instead of going to H&R Block.

Yeah. It costs 40/yr to upgrade. Like KOC said, you can get it on the internet, but I signed up for autorenew, so they send me a new CD-ROM automatically every year, so I don't even have to order it.

The nice thing about it is that once you use it the first time, you don't have to enter all the personal info, EINs, bank routing #s etc... in the following years. Makes it very easy. And the integration with state is awesome, in my case, it takes a minute to complete state once federal is done. You can also efile for a small fee and have the IRS and AZ auto-deposit the refund into your bank account.

 

[Jersey Girl]

Is Turbo tax easy enough for someone like me? By that I mean, I sold a house, moved from one state to another, didn't ever work in the new state in 2006, did various freelance stuff that I owe tax on, blah, blah, blah.

I usually do my own taxes and am usually very comfortable about it, but I am wondering if this year I should get Turbo Tax or see an accountant.

 

[abomb]

I usually do my own taxes and am usually very comfortable about it, but I am wondering if this year I should get Turbo Tax or see an accountant.

Get an accountant this year, and fast. I f'ed myself on the sale of a home because I let H and R (c)Block do them. Boy I got screwed and when I realized I should have taken them to someone, it was too late.

 

[nathan]

Get an accountant this year, and fast. I f'ed myself on the sale of a home because I let H and R (c)Block do them. Boy I got screwed and when I realized I should have taken them to someone, it was too late.

Did you not file an amended return? I don't see how you were screwed unless H&R wouldn't give you a refund.

 

[Jersey Girl]

Get an accountant this year, and fast. I f'ed myself on the sale of a home because I let H and R (c)Block do them. Boy I got screwed and when I realized I should have taken them to someone, it was too late.

How did you get screwed? I am guessing with the capital gains thing?

 

[Duckjake]

Get an accountant this year, and fast. I f'ed myself on the sale of a home because I let H and R (c)Block do them. Boy I got screwed and when I realized I should have taken them to someone, it was too late.

Using a CPA may be cheaper than many people think, especially if they find some deductions you may have missed. If you do consider a CPA shop around as prices can vary widely.

 

[jw7]

Is Turbo tax easy enough for someone like me? By that I mean, I sold a house, moved from one state to another, didn't ever work in the new state in 2006, did various freelance stuff that I owe tax on, blah, blah, blah.

I usually do my own taxes and am usually very comfortable about it, but I am wondering if this year I should get Turbo Tax or see an accountant.

I'm pretty sure Turbo Tax can handle the sale of a primary residence, but given the fact that you may have to file in 2 states, you might want to go the CPA route. You don't want to mess this up - the gain of the sale of a primary residence is excluded from taxes up to $250K for a single person, and you want to be sure to do it right.

I used to have to file non-resident state tax returns in states I worked in and it sucks. Never had to do this with Turbo Tax so I don't know how well it does.

BTW, did you know that several states will tax professional athletes from other states when they play a game in their state on the portion of their salary they earned for one game? It is nuts.