Have You Started On Your Income Taxes Yet?

L

Lon

Well-known Member
Location
Central California
I just started on mine this morning using TurboTax again. I have always done my own taxes and thought I would get a early start. It will take until mid February to finish as I await receiving statements from banks and investment firms. Being retired and not owning real estate and vehicles any longer makes doing taxes pretty simple.
 

I've done a rough calculation of my tax liability using year end statements.

Once the actual tax documents arrive I will bundle it up and send it to the CPA.

I could do it myself but I prefer to have an independent review.

I feel I get enough coaching and advice from him to justify the fee.
 
My husband usually does them when all the year end statements and information he needs comes in, does it without using Turbo Tax or anything like that. I'm glad he's here to do our taxes each year, he also did his parent's taxes in their senior years for them.
 

I don't do mine until I get all the statements I need and then I use tax software. I don't miss the days of trying to read through the latest tax year's instructions and trying to fill out those forms manually. Mine was always pretty simple but it was stressful to fill that out.
 
I always wait till my statements come, and then I go see my tax preparer. I tangled with the IRS once years ago and though I did finally win, it was expensive, extremely stressful and a general pain in the behind. At that point, I said I'd never do my own taxes again; that's one of the the life resolutions I've actually kept.
 
Not yet Lon. I have been using H & R Block Tax Cut for years and was going to order from Amazon. But several people said they had problems with the disc for the option I was going to order. I considered getting Turbo Tax as well when Costco had them on sale but didn't. I'll have to make up my mind soon as to which one and where to get it. Used to go to an Office Depot not far from us but that closed. Stapes is not too far but their prices were a bit higher. Like you I haven't gotten all my 1099s yet anyway. Since I have to pay a bit more, I may wait until March to get started.
 
First of all, I save EVERYTHING and am always looking for ways to reduce our taxes and get a refund. I tried doing my own once - in 1979 - my father just looked at them, laughed and re-did the whole thing. We have paid someone to do them every year since then. However, our preparer passed away last spring so now I have to find a new guy. Asking around, I think I found a good one so am, waiting on all the 1099's, sorting and summarizing so he can do them painlessly. We have only ever paid taxes twice so I figure it is worth it. He seemed happy that I had things organized and summarized. He said some people come in with a box of stuff and still don't have what they need or they come in without any paperwork. Nice.

Last year we didn't get a tax statement from Prudential until the day I was going to mail the 1040s to the IRS - the first week in April. I was so angry! I called Prudential and complained but, of course, the woman who answered didn't have any explanation and I'm sure it wasn't her fault but I made sure they knew I was pissed they were so late! She said that they had mailed them out in waves and some people's were delayed - no reason why! Hopefully they won't repeat that gaffe this year! We had to have the whole thing re-done.
 
While I have received my W2s for my pension and my SSI, I have received NONE of my bank or investment 1099s. I usually don't get those until at least mid-February. By then, there's a waiting line to see my accountant.
 
Started a few weeks ago, but still waiting for stuff from my broker plus a W2 from my old employer. Donated a lot of goods to charity this year, so I have to figure out the value, but way ahead of last year at this same time.
 
Ours are simple. We are waiting on one 1099 and then are set to go. We usually end up in a neutral position between the state and federal,so tax time is not an event as it is for some people.

Lon, How does the lack of a car affect your taxes? Personal property tax in Ca.?
 
I'm waiting for all the documents to show up. I use turbo tax since it takes out all the work. Aside from that I calculate the tax to be withheld in our distributions so that our return nets not much more that $100.00

I am NOT promoting Turbo Tax when I mention that as a tax service Turbo Tax has connections with the accounts I have and I don't have to enter any info. The service retrieves that info. I like easy and accurate and less than a 2% chance of being audited.
 

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