Have You Done Your Tax Return For 2016?

Lon said:
I just completed mine and it was the easiest tax return I have ever done.
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Congratulations!!!

A question, as you've gotten older have you simplified your banking and investments or have you kept things pretty much the same.

I've started to do some consolidating and simplification in an effort to make it easier for those that have to step in to clean up after me someday.
 
Yup, I did my taxes online, via H&R Block, on Jan.30th, and filed online. A couple of days ago, the State tax refund came, and the Federal return shows Approved on the IRS web site, so that should be coming soon.
 
Gee it seems I just finished my 2015 taxes a couple of months ago, so, no, I'm not ready to think about this year. Check with me in September.
 
Filed and paid this year. Normally have small return but this time we had some pretty decent gambling wins that put us in a higher tax bracket.

The wins were invested and eventually will be something our sons will share probably when they need a financial boost the most.
 
Haven't even looked at it. Last time I filed early I received a corrected 1099 and had to file a correction form. So I wait until late March. I never get anything back so no need for me to hurry.
 
We just received the last form we needed. My husband does our taxes at home, so he should be doing them soon, whenever he's in the mood.
 
E-filed my federal a couple of days ago. E-filed my state today. I'm happy that I only owed the IRS half of what I was expecting to pay. And due to N.J.'s pension exclusion I didn't owe the state anything.
 
Aunt Bea said:
Congratulations!!!

A question, as you've gotten older have you simplified your banking and investments or have you kept things pretty much the same.

I've started to do some consolidating and simplification in an effort to make it easier for those that have to step in to clean up after me someday.
Click to expand...

It's pretty simple and easy for me now Bea because I no longer have ANY real estate or homes of any kind. I just have income and stocks/bonds. It's so simple that I can only take the standard deduction, not having any deductible items.
 
Mama and I filed this past Saturday and we are going to get back a pretty nice refund from State and Federal......getting back always beats paying in. :)
 
Being Canadian I don't have to file mine until the end of April. I am still getting statements from
various investors and once I have them all I will call the person who does my taxes for me.
I always have to pay so am in no hurry to file.
 
we have lots and lots of tax forms we use in turbo tax but everything is pretty straight forward . you do have to be careful though with software because the auto imports on things like interest are not aware of interest items that may be state tax free so you manually have to subtract them out .

the import from fidelity was not not smart enough to recognize etf's like TLT OR SHY as treasury bond interest which is not taxed state wise .
 
Taxes done, refunds received, and the money is spent. Yesterday, we went to Lowe's and spent the last of the refund on a new dishwasher...our 15 yr. old unit has been making growling noises in the motor/pump area, so it is probably just days/weeks away from dying. Every year, it seems like we get a nice refund, and something breaks down that eats up the money....oh, well......
 
We've always hated to see the government use or money during the year. So, we've planned for years to pay in... and pay quite a bit in. This year we weren't sure of just when would fully retire so did have some more taken out. Picked up our taxes from the accountant earlier this week. Will owe a few thousand, but quite a bit less than last year. We put it back in investment accounts during the year so have it ready to send in.
Met with our financial advisor earlier today. Making changes so we won't owe as much. Also, fully retired now we won't be anywhere near the same income level so won't have as much tax liability.

Updated numbers with our financial advisor. He says we can live at the same level we are today until age 92 without getting into the principles of our investments. I only anticipate living until 90. So, plan on throwing a big party and blow two years living expenses while I can still partially remember it was fun!!!! :>)
 
For the first time in my life I paid someone to do mine. A dear friend of mine died in 2015 and left me a part of his stock account. I was surprised he left me a small portion but I could not complete the required schedules for it. So the return has been filed and my refund received.
 
Welcome Terry. If you are in the U.S., there is a government program where you can get your tax returns done at certain locations like H&R Block, Employee Credit Unions, and Senior Centers. I got mine done at the North Carolina State Employees Credit Union. Quick, easy, and free.
 

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