Did you file your taxes yet?

[Diomedes]

My company handed out W-2s today.

Law requires them to be delivered by the end of January, or just to be sent by the end of Jan?

[PoopyfaceMcGee]

My company handed out W-2s today.

Law requires them to be delivered by the end of January, or just to be sent by the end of Jan?

It seems that they failed either way.

You should receive a Form W-2, Wage and Tax Statement, from each of your employers for use in preparing your federal tax return. Employers have until January 31, 2007 to furnish a record of 2006 earnings statement either electronically or in paper form.  Allow two weeks for 2006 earning statements mailed from employers via United States Postal Service (USPS).

REPORT THEM!

[Diomedes]

Well, I don't know if I should report them, but I will send them a note that says I don't appreciate the delay.  I don't have leeway to file my taxes a day late, afterall.

[dis12]

If you're like me and try to file your tax return as soon as possible you might want to wait a little while this year. I was listening  to some financial shows on NPR and local radio and both sources commented that last year our outgoing congress passed several new tax amendment/changes before they departed, but this was done after the majority of the tax software used buy tax prepares and yourself was released. To catch up with the new changes tax software companies are having to rewrite or upgrade their programs to reflect theses changes and the new/amended programs should not be available until mid February or later.

The long and short of it is, if you e-file like me you might not be getting all the refund you are due if you file too early this year. And if you use a tax preparer you might want to ask them about this.

I am a nerd of FFPat proportions.

according to TaxWatch, tax programs such as Turbotax, TaxCut, etc will likely not receive gov't updates until Feb 3rd (or later).  Affected changes include decuctions for: state/local tax, education/tuition fees, teacher out-of-pocket expenses, etc.
If you have any of these, and use a tax program, you may want to hold off a week or so.

[PoopyfaceMcGee]

All of those deductions were questions on TurboTax already.

[dis12]

roundtrip from DC or Philly to New Orleans runs about $150 round trip on Southwest Airlines

that may be true but i dont know a single person who went that paid under 220


so what your saying is that you have such little will power that you have decided to pay the IRS more in tax money so you dont go and spend that money at the pub instead?

thats EXACTLY what im saying (and/or im an alcoholic)

but the thing is i already put mad money in my govt tsp (401k equivalent) and into my own ira and roth ira...plus x amount of dollars into my bank savings account each month...in other words my savings/investments are well taken care of...everything after that is spending money to me...and the less spending money i have coming home each week the less money ill spend

plus i like the feeling of getting a huge chunk of change the same time every eyar to pay for my eagle tix and my big vacation i take every year

to answer your next question as to why dont i just up the amount im putting into my investments each yeah and pay less in taxes?

because i dont want to

Hey to each his own.   You are just the first person I've heard say that they dont want to make more money and would rather have the government take your profits.   Just a last thought from me...  you say you have x amount of your money going to bank savings each month.  You could set up an automatic withdraw program with a bank or a no load mutual fund that would automatically take that money you were going to give to the IRS and instead deposit it in your bank or fund.  That way you would collect the interest on the money and at the same time it wouldnt be sitting there for you to spend at the bar.    anyway, enough on the subject for me.  I just wanted to throw that out there in case you were not aware of your options.

you also want to investigate a special payroll deduction to a high yield savings account (not all companies offer this).  It'll come right outta your paycheck, and will still be liquid (before you make it liquid at the bar).

[dis12]

All of those deductions were questions on TurboTax already.

none of my clients have submitted anything to me yet (as usual).  I'm personally waiting til Feb 10th or so, so most of the gov't updates will be in TTax updates.

[PoopyfaceMcGee]

you also want to investigate a special payroll deduction to a high yield savings account (not all companies offer this).  It'll come right outta your paycheck, and will still be liquid (before you make it liquid at the bar).

It's a lost cause, dis.

[dis12]

you also want to investigate a special payroll deduction to a high yield savings account (not all companies offer this).  It'll come right outta your paycheck, and will still be liquid (before you make it liquid at the bar).

It's a lost cause, dis.

maybe he would listen if we told these investment payouts would save him enuff for 2 away games plus few kegs.

[PoopyfaceMcGee]

He wouldn't.

[Susquehanna Birder]

If you're like me and try to file your tax return as soon as possible you might want to wait a little while this year. I was listening  to some financial shows on NPR and local radio and both sources commented that last year our outgoing congress passed several new tax amendment/changes before they departed, but this was done after the majority of the tax software used buy tax prepares and yourself was released. To catch up with the new changes tax software companies are having to rewrite or upgrade their programs to reflect theses changes and the new/amended programs should not be available until mid February or later.

The long and short of it is, if you e-file like me you might not be getting all the refund you are due if you file too early this year. And if you use a tax preparer you might want to ask them about this.

I am a nerd of FFPat proportions.

according to TaxWatch, tax programs such as Turbotax, TaxCut, etc will likely not receive gov't updates until Feb 3rd (or later).  Affected changes include decuctions for: state/local tax, education/tuition fees, teacher out-of-pocket expenses, etc.
If you have any of these, and use a tax program, you may want to hold off a week or so.

I just did mine on TaxCut tonight, and it seemed to handle all the new stuff just fine. I even got a notice that the IRS won't be reviewing returns with some of those items until "the beginning of February." Well, here we are.

[Diomedes]

All the money talk reminded me:  taxes are done.  I owe the feds $27 and NY owes me $250.

whoop there it is

[Father Demon]

All the money talk reminded me:  taxes are done.  I owe the feds $27 and NY owes me $250.

whoop there it is

That's just about perfect planning.  I'm guilty of having the feds take too much money so I get a refund each year.  Stupid? Yes.  But it's like a big ol' birthday present to me.

Also, adopting a child creates a windfall on your tax returns.   

[Diomedes]

You can write off all that money spent on vodka in the Ukraine?

[Father Demon]

Adoption Tax Credit.  It feels like free money, but realistically it's getting abck about a third from the feds of what I already spent.  I aslo get about a third back from Missouri, but they are the most generous of the states on what they credit back.