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2017 Tax Season and Return Thread Vol. Tax Podcast Mixed In? - Page 3

post #61 of 100
Quote:
Originally Posted by illwill8710 View Post

It's going in the house savings account.

Be Safe Tho Beloved.
roll.gif
post #62 of 100
Quote:
Originally Posted by ForerunnerADL View Post

Quote:
Originally Posted by yanky View Post

freetaxusa vs turbotax

which one is everyone using?

Cheaper to buy the Turbo Tax CD. Only thing is you have to keep your own backups.

I guess it depends on the amount of people. Since I'm only doing two separate filings it makes sense for me to do freetaxusa.
post #63 of 100
Quote:
Originally Posted by throwback1718 View Post

I put 9 allowances... Was getting a good portion of my paycheck. Actually it was in the last tax thread I read about guys putting up their exemptions.


Some guys on my job put 99 😂😂

I thought I was wildin. What should be the consequences to expect? 👀
Grossly under paying which forces you to pay a penalty/interest plus required quarterly payments for the following year.
...and the Golden State would never paper hate...
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...and the Golden State would never paper hate...
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post #64 of 100

We talking about Tax Season podcast in here too 8o

post #65 of 100
Quote:
Originally Posted by yanky View Post

freetaxusa vs turbotax

which one is everyone using?
'

Used them both starting with freetax, I rock with turbo cause I assume its a bit more protected. No real preference.
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post #66 of 100
The amount of taxes that suppose to be withheld in order to not pay, Is based on thetotal including federal,state etc or individually,?

Example 50k
Taxes withheld total 8000
post #67 of 100
Hello All,

Resident CPA here, I recently opened my own practice up so if you don't feel comfortable doing your taxes yourself please PM me and i'll hook you up with a NT discount.

Anyway this thread always has good info, if you have any questions feel free to ask in here or PM me directly

Just some knowledge to give:

1.) DO NOT go to HR Block/Liberty Tax/Jackson Hewitt, ect.. they will rip you off and charge you tons of hidden fees. They tend to do most of their business in low income areas and they prey on the people with these refund advance loans which basically suck your refund when you receive it. Their fees for basic 1040s with EIC are out of control and I heard they can approach $500 which is a total rip off for preparing one additional form. Additionally the people that prepare these returns are grossly under-qualified, they basically take a two week online class and are considered qualified professionals which could not be further from the truth. Seek out a local CPA or you could pm me and I can take care of your taxes at a MUCH reasonable rate and you will have a licensed professional taking care of your taxes.

2.) Feel free to use Turbo Tax or any other online tax service if you feel you are up to the task, filing taxes isn't that difficult if you have a basic W-2 and honestly I encourage people to file themselves if their return is that simple. Now if you own multiple business or receive 1099 income or have any "complex" tax situations I would strongly suggest seeking out a qualified licensed professional to take care of your return. Turbo Tax has their absolute zero, I haven't used other services but I am sure they are all comparable just make sure you try to get the software that doesn't cost you a dime.

3.) Most of the advice given in this thread is usually pretty good, if I see something I don't agree with I will let you all know so false information isn't spread.

Good luck NT fam with filing your taxes and good luck to all my accountants about to get pummeled this tax season we'll get through it!
CPA Licensed in NYS

PM me any Accounting/Tax questions
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CPA Licensed in NYS

PM me any Accounting/Tax questions
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post #68 of 100
Quote:
Originally Posted by NyDunkhead View Post

Hello All,

Resident CPA here, I recently opened my own practice up so if you don't feel comfortable doing your taxes yourself please PM me and i'll hook you up with a NT discount.

Anyway this thread always has good info, if you have any questions feel free to ask in here or PM me directly

Just some knowledge to give:

1.) DO NOT go to HR Block/Liberty Tax/Jackson Hewitt, ect.. they will rip you off and charge you tons of hidden fees. They tend to do most of their business in low income areas and they prey on the people with these refund advance loans which basically suck your refund when you receive it. Their fees for basic 1040s with EIC are out of control and I heard they can approach $500 which is a total rip off for preparing one additional form. Additionally the people that prepare these returns are grossly under-qualified, they basically take a two week online class and are considered qualified professionals which could not be further from the truth. Seek out a local CPA or you could pm me and I can take care of your taxes at a MUCH reasonable rate and you will have a licensed professional taking care of your taxes.

2.) Feel free to use Turbo Tax or any other online tax service if you feel you are up to the task, filing taxes isn't that difficult if you have a basic W-2 and honestly I encourage people to file themselves if their return is that simple. Now if you own multiple business or receive 1099 income or have any "complex" tax situations I would strongly suggest seeking out a qualified licensed professional to take care of your return. Turbo Tax has their absolute zero, I haven't used other services but I am sure they are all comparable just make sure you try to get the software that doesn't cost you a dime.

3.) Most of the advice given in this thread is usually pretty good, if I see something I don't agree with I will let you all know so false information isn't spread.

Good luck NT fam with filing your taxes and good luck to all my accountants about to get pummeled this tax season we'll get through it!
Repped, my man.

We appreciate it.
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Team Denver Nuggets, Tarheel Nation, Team Carolina Panthers
Buzz is Back
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post #69 of 100
Credit Karma got free tax returns
post #70 of 100
Gonna file tonight. Hopefully get a nice return like last year

Anybody have a tax calendar for 2017 like the one we had in the 2016 thread ?
                                                                                           #KNICKUP
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                                                                                           #KNICKUP
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post #71 of 100
Credit Karma is also doing free taxes for those interested.
post #72 of 100
Let the governement profit off my interest for the last year in 2016. Bout to adjust my ish now

Gunna throw hardwoods in my new crib and proply cop the new MBP or maybe an imac
post #73 of 100
Filed this morning. Turbotax is always quick & easy. Also lets me know I've gotta step it up with investments etc. Gonna play with my withholding at the middle of this year to see if I can break even. Getting a couple hundred back this go around, I'm fine with that.
post #74 of 100
Quote:
Originally Posted by gamble View Post

Filed this morning. Turbotax is always quick & easy. Also lets me know I've gotta step it up with investments etc. Gonna play with my withholding at the middle of this year to see if I can break even. Getting a couple hundred back this go around, I'm fine with that.
What date did they give you to expect the refund?
post #75 of 100
Quote:
Originally Posted by gamble View Post

Filed this morning. Turbotax is always quick & easy. Also lets me know I've gotta step it up with investments etc. Gonna play with my withholding at the middle of this year to see if I can break even. Getting a couple hundred back this go around, I'm fine with that.
Ironically enough, if you need to file schedule D for your investments, you have to use the paid version of TurboTax.
post #76 of 100
Just to let everybody know the IRS is not accepting returns until the 23rd so you can file with your preparer or online provider but the IRS will start processing that date. Typically see refunds early in the tax season with about 1 to 2 week turn around time.
CPA Licensed in NYS

PM me any Accounting/Tax questions
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CPA Licensed in NYS

PM me any Accounting/Tax questions
Reply
post #77 of 100

Just filed for the first time via turbo tax. Hopefully it doesnt get rejected cause im a noob lol

im the best mayne, i deed it
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im the best mayne, i deed it
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post #78 of 100
I usually end up getting back 30 bucks combined from both state and federal.
SAN FRANCISCO 49ERS / TEAM BOXING / NT KANGZ
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SAN FRANCISCO 49ERS / TEAM BOXING / NT KANGZ
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post #79 of 100
Quote:
Originally Posted by NikeTalker23 View Post

I usually end up getting back 30 bucks combined from both state and federal.

That's a good things. It means you have optimized your withholding.
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PSN: Biggie62
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post #80 of 100

how accurate is turbotax's estimate when it comes to federal and state tax return?

im the best mayne, i deed it
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im the best mayne, i deed it
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post #81 of 100
Quote:
Originally Posted by Biggie62 View Post

Quote:
Originally Posted by NikeTalker23 View Post

I usually end up getting back 30 bucks combined from both state and federal.

That's a good things. It means you have optimized your withholding.

Yessir.

It's funny to me when people complain they're not getting fat refund checks.
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SAN FRANCISCO 49ERS / TEAM BOXING / NT KANGZ
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post #82 of 100
Another piece of advice, I believe the paid Turbo Tax version has X amount of State filings that come with the program. All others cost money. For many states, you can enter your information on their state website and do it for free. Turbo tax won't exactly tell you that and will want you to file within their program. That is generally not required.

For a standard person with two jobs, and a kid, and no investments, there is no reason you should be paying more than $100 to ANYONE for their services. It literally takes 20 minutes of work on Turbo Tax.

I know these ladies around my way who use Turbo Tax and such as their side hustle. They have everyone afraid of doing their taxes and portray it as too hard to comprehend. Most fit into the category above, single, one or no kids, and maybe a house.

Be careful out there. There are some who want a % of your refund too, and may fudge a couple areas here or there.
post #83 of 100
Halfway through filing with TurboTax. I'm set to get $3.7k back Federal but I want to maximize it as much as possible. I'm a single renter, no kids, basic W2 and student loan Interest.

So I did make some clothing donations here and there with the Salvation Army etc. but I have no paperwork to prove it.

How can I MAXIMIZE my refund? laugh.gif I know some people who get 7k back and I need parts of that. Granted, they own homes frown.gif
post #84 of 100

Exactly why I say freetaxusa >* . Once you have to start paying Freetax is only $12 for federal and state .

Yes turbotax looks nice, but it's literally all fluff. Don't let the pretty UI have you paying $100 to file essentially a few piece of papers at the end of the day.

I'm about to start my return now. Praying I don't owe I used one of TurboTax's calculators last year.

 

EDIT: Checked my email here is the 10% off promo code for freetaxusa : FREETAXUSA10


Edited by BeezyGotSole - Yesterday at 7:11 am
post #85 of 100
Quote:
Originally Posted by FlyNY View Post

Halfway through filing with TurboTax. I'm set to get $3.7k back Federal but I want to maximize it as much as possible. I'm a single renter, no kids, basic W2 and student loan Interest.

So I did make some clothing donations here and there with the Salvation Army etc. but I have no paperwork to prove it.

How can I MAXIMIZE my refund? laugh.gif I know some people who get 7k back and I need parts of that. Granted, they own homes frown.gif
Unless you donated more than your standard deduction, you're not gonna use any of that.

Also no point comparing to others refund when you don't know their tax situation.
post #86 of 100
What's the easiest way to amend taxes from last year? I forgot to enter my FSA transit and Parking. I can't remember if any of these programs give you the option to make changes to prior years.
post #87 of 100
If you're single with no dependents why are you getting almost 4K back? That's crazy
post #88 of 100
I remember using turbotax last year for the first time. It was so easy and free (I only had 1 w2 and a 1098-T) I got a new job this summer so I should have 2 w2's and Im assuming it should still remain simple for me just another W2 added on
post #89 of 100

Just finished filing and I am getting back much more than expected. When I did the turbotax calculator I had to estimate some number, since I only paid interest for a few months and what not. I am not sure if I should increase my witholding even more. I only was expecting between $500-$1500 back totatl, I'm getting $4000 back.

 

$2500 federal , $1500 state

 

For federal I witheld 5 , state I witheld 1 (I believe) .

 

Should I go higher? Only difference for this year is I won't be getting any educational credits $2000 deduction.

post #90 of 100
Quote:
Originally Posted by BeezyGotSole View Post

Exactly why I say freetaxusa >* . Once you have to start paying Freetax is only $12 for federal and state .


Yes turbotax looks nice, but it's literally all fluff. Don't let the pretty UI have you paying $100 to file essentially a few piece of papers at the end of the day.


I'm about to start my return now. Praying I don't owe I used one of TurboTax's calculators last year.

EDIT: Checked my email here is the 10% off promo code for freetaxusa : FREETAXUSA10

Just used this. TurboTax can go kick rocks.
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