I'm still waiting on Fido. They're supposed to drop mine tomorrow but in the past they have extended it. Some of the things I have tend to be slow to report to Fidelity. I'm dying to see if I figured my estimated payments correctly. I just do TurboTax online.
Taxes
- Thread starter pmanton
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crstrode
Member
I must start RMD (Required Minimum Distributions) next year. For the past few years I have been converting funds from IRA to Roth accounts in hope of keeping the tax burden as low as possible. Just doing that, I am paying more federal income tax now than I was in my last year of full-time employment.
Heck - I am paying twice as much income tax now as a 100% unemployed senior citizen than my gross pay as a cub Engineer fresh out of college. All this and I have not had a paycheck for over 15 years.
Then there are the county taxes that hit me up for $5 grand a year for taxes on my shack of a house . . . GEEZ!
GypsmJim
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Crypto sales may impact capital gains. A section was included in 2025 to catch people that did not declare profits in the past.
That's why I like Turbo Tax. I don't have to know what's what. It directs me everywhere so I don't miss anything.
We have a home business so we use TT Deluxe. It has the forms we need and the step-by-step procedures. There are optional fees for special purposes that they offer but those are really not necessary. The basic program covers everything we need.
These are some first world problems right here. lol you must have done something right through the years.
peterdeb
Member
Roughed out my taxes and still can't find that no tax on Social Security thing.
Since retiring, our taxes are easy to complete. I remember back to the days when I was running a business when a CPA had to do my taxes, or I would get eaten alive. Taxes should be simple; 10% of everything you take in from any and all sources every year, no exemptions, no write-offs, no massive tax codes, just 10% please. People caught cheating should have to work a year for no wage at all. Businesses who cheat have to shut the doors for a year and the CEOs could spend that year in jail. The though of such a system would drive wealthy individuals and companies insane. 
I think it was up in Post 19, wanting a Blackhawk in 41 magnum. There’s one, used, at my LGS for $900. I guess since it’s 41 magnum. A new one in 357 is $750. I guess it’s the caliber.
I,we, used to use H&R Block. A couple few years back we switched to a private lady. Instead of paying near $3000, we have been owing about 75% less. We’ll be taking our taxes over to her soon. We got forms to prepay taxes for this past year. I really would like to get a refund. Even $200 would be cool.
I,we, used to use H&R Block. A couple few years back we switched to a private lady. Instead of paying near $3000, we have been owing about 75% less. We’ll be taking our taxes over to her soon. We got forms to prepay taxes for this past year. I really would like to get a refund. Even $200 would be cool.
I have a friend who has done our taxes for many years. It is a part-time business for him. I've never had any problems. He's taking fewer and fewer customers these days and is winding down. He has some real horror stories about people who have never filed a tax return or haven't filed one in many years. Others just bring him a box of receipts and tell him to figure it out. I suppose that when he quits, I'll either get Turbo Tax or run my stuff down to H&R Block. BTW, I thought fewer and fewer people ran a PC. When I went MAC, I never looked back!
If you have a lot of OT or some other bump in income, the tax withheld for that pay period is calculated as if you make that amount across the year, so more will be taken out. At the end of the year, you would likely get a refund of part of your loan to Uncle Sam.
My recollection is that the increased income across the year will contribute to your social security level, but since it is averaged across 35 years, a couple of really high years will not have as much effect as it would as it would in a retirement program that averages over say 2 - 5 years.
My recollection is that the increased income across the year will contribute to your social security level, but since it is averaged across 35 years, a couple of really high years will not have as much effect as it would as it would in a retirement program that averages over say 2 - 5 years.
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You may been (gasp!) lied to. Hard to imagine that. At least your $2800 check will help.
GypsmJim
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They could not get agreement for it on the BBB so they added a $6000 personal exemption per person for anyone over 65. THAT will compensate for the SS income tax.
The funny thing is that those over 65 that are still not collecting SS get the benefit as well.
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Thanks!
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Is there a line to declare the $2500 savings on healthcare premiums?
Sounds like you have an infestation of Californians and they have moved into your area and into your local government.
Check it out.
crstrode
Member
Yup.These are some first world problems right here. lol you must have done something right through the years.
Here is the secret:
1. Work hard - harder than most others.
2. Spend less than you earn.
3. Save your money.
3. Don't borrow.
bulletslap
Member
I have been bitten a few times over the years with institutions sending me amended 1099s in March, and once in May; so I file an extension and do mine in August. The hopefully prevents filing a 1040-X.
Denverd0n
Member
The majority of people most especially seem to have trouble with #2. Evidenced by the fact that Americans are carrying nearly one and a quarter TRILLION dollars in credit card debt!
(By the way, none of that is mine!)
Well, I do have a case of 9mm for $246 on my card. Kept hearing: "The end is near, the tariffs will shoot (pun intended) copper/brass prices through the roof!" Joe
Denverd0n
Member
Ah, but the question is not whether you charge things on a credit card, but whether you carry a balance from month to month. I haven't carried over a balance on a credit card since the time, thirty years ago, when I took three months to pay off the trip to Fiji that my wife and I took for our 10th anniversary.
Credit cards are very useful tools... IF you pay off the balance every month!
Credit cards are very useful tools... IF you pay off the balance every month!
GypsmJim
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If you don't pay it off that means you are spending more than you earned.
If you don't use a card to pay every day expenses, you are not managing your money very well. Using it for venues that don't charge a premium gives you a 2% discount.
(If you just lost your job or have unexpected medical bills, then disregard what I said)
Denverd0n
Member
Since another poster in this thread took exception to my comment, a while back, that I "resent it when the government wastes money stupidly," I thought I would just mention the following...
Today, February 9th, is:
National Pizza Day
National Toothache Day
National Football Hangover Day
National Clean Out Your Computer Day
National Bagel and Lox Day
National Read in the Bathtub Day
This week is also:
National Freelance Writers Appreciation Week
National Condom Week
National Children of Alcoholics Week
National Jell-O Week
Every one of these official designations mean that a Congressman took the time to write a bill and submit it to Congress. Then a quorum of both the House of Representatives and the Senate were assembled to vote on it. A majority in each house decided that it was the proper business of Congress, and was important enough that they needed to vote "aye" on it (as well as, I guess, deciding this was more important than anything else they had to do at the time).
How anyone can honestly doubt that Congress (at least some of the time) wastes their time on idiotic nonsense, that any reasonable person has ample justification to resent, is completely beyond me!
And can someone tell my why pizza and bagels only get a day, but Jell-o and condoms get a whole week!!??!!
Today, February 9th, is:
National Pizza Day
National Toothache Day
National Football Hangover Day
National Clean Out Your Computer Day
National Bagel and Lox Day
National Read in the Bathtub Day
This week is also:
National Freelance Writers Appreciation Week
National Condom Week
National Children of Alcoholics Week
National Jell-O Week
Every one of these official designations mean that a Congressman took the time to write a bill and submit it to Congress. Then a quorum of both the House of Representatives and the Senate were assembled to vote on it. A majority in each house decided that it was the proper business of Congress, and was important enough that they needed to vote "aye" on it (as well as, I guess, deciding this was more important than anything else they had to do at the time).
How anyone can honestly doubt that Congress (at least some of the time) wastes their time on idiotic nonsense, that any reasonable person has ample justification to resent, is completely beyond me!
And can someone tell my why pizza and bagels only get a day, but Jell-o and condoms get a whole week!!??!!
GypsmJim
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I applauded your comment the first time. But what you just posted above takes it to a completely different level.
I imagine that when each of these things were suggested all the congresspeople were going yeah yeah yup yupper that's a good idea, as they stood there with a pinky in one nostril and the other thumb somewhere else. Probably no debate at all.
OTOH, when they debate about whether citizens must show ID to vote (or any other important concept - pick your topic) they are up in arms and can't agree.
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