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SERIOUSLY? ***!!!

I just did my taxes online. Something must be wrong. I made a bit more $ than last year, but I didn't think I'd have to PAY! This is messed up!

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I figured I was gonna have to pay big time this year since I paid out the azz last year. Come to find out ... the ex hubby did some funky shit and that's why WE had to pay last year. Thank God things are back to normal now, lol. I got a refund just shy of 1000.

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SERIOUSLY? ***!!!

I just did my taxes online. Something must be wrong. I made a bit more $ than last year, but I didn't think I'd have to PAY! This is messed up!

Did you make substantially more without adjusting your deductions?

That happened to me a while back. I started making more dough, and I guess I jumped a bracket? Suddenly I wasn't giving up enough throughout the year to compensate.

Think of it this way - you would have paid either way. (Just not a chunk at the end of the year). I prefer to just save a little now and pay the balance in April rather than have more stripped from my check every pay period. :applause:

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Re do it on paper. Hopefully you missed something. Otherwise that blows! Even though we own a house, we've paid it down to where we can't even beat the standard deduction married filing jointly. We need SSN's for our dog and two cats!!!

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Did you make substantially more without adjusting your deductions?

That happened to me a while back. I started making more dough, and I guess I jumped a bracket? Suddenly I wasn't giving up enough throughout the year to compensate.

Think of it this way - you would have paid either way. (Just not a chunk at the end of the year). I prefer to just save a little now and pay the balance in April rather than have more stripped from my check every pay period. :applause:

$6k more. But I'm also contributing to a 401(k) and a health savings account. I didn't change my deductions, though. I guess it's too late now to do it for 08? I don't even know when you can do that.

I guess it's a wash like you say. But last year I got $700 back, and this year I have to pay $100. I guess it evens out but I don't like it!

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Yeah well here's the sillly thing ... we bought a house, but it's all in Kris' name. He and I both got raises right during the buying process, and we qualified ourselves OUT of the low-income mortgage program our broker had us in. The broker took my name off it and qualified Kris alone. So my name isn't legally on anything yet, so Kris will get a healthy return (as I understand it, the first year you buy you get a big one?) but I get nada.

Oh, btw, is it worthwhile to pay an accountant to do his taxes this year? Or is it pretty easy to figure it out yourself with all the house-buying stuff? What other paperwork do we need?

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$6k more. But I'm also contributing to a 401(k) and a health savings account. I didn't change my deductions, though. I guess it's too late now to do it for 08? I don't even know when you can do that.

I guess it's a wash like you say. But last year I got $700 back, and this year I have to pay $100. I guess it evens out but I don't like it!

Not a wash - but you would have given up that Hundo throughout the year if you did change your deductions. You know? They are going to get their cut either way. At least you didn't give Sam an interest-free $100 loan for a year. (He wouldn't reciprocate, believe me).

As far as adjusting for 08, you can do it anytime. Talk to your HR/Payroll guys/gals.

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Same thing happened to me in 2005 when I did my taxes online.

The next year I made more money and wrote them out manually and recieved money back.. not that much,,.. but better then paying.

Dave

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Oh, btw, is it worthwhile to pay an accountant to do his taxes this year? Or is it pretty easy to figure it out yourself with all the house-buying stuff? What other paperwork do we need?

I like the "accountability" of an accountant/tax preparer. I can point the finger at someone other than me if they screw up.

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haha, good point.

now the question is how to find a GOOD one? there's a guy on our street with an "accountant" sign in front of his house, but how do you tell if he sucks or not?

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haha, good point.

now the question is how to find a GOOD one? there's a guy on our street with an "accountant" sign in front of his house, but how do you tell if he sucks or not?

To tell you the truth - I've always used HRB, with no issues, but I don't really "work the system". I'm not self-employed, and I don't itemize. So my taxes are cut-and-dried. Now, with the new house, 08 might be different.

Talk to others. Get recommendations in your area?

If it makes you feel any better: The wife and I are forking over about $2700 to the IRS this year. (I keep my Zeroes and Ones where they are on my W4, and worry about the difference at tax time. I'd rather have the bigger checks and save for tax time.) Compounded with buying the house at tax time, and my piggy-bak is feeling a little light lately. :applause:

Gotta love money.

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doh!

it does make me feel better. after Kris and I are married we'll probably get raped by the IRS too. We don't make a ton, but without all those screaming pooping little deductions running around, they really get ya ...

like someone said, I wish I could claim my dogs and cat!

I've always used HRB's little online doo dad. I think it is probably set up sufficiently well to do Kris' taxes even with the house and all, but he's skeptical.

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Are you on the deed to the house? It's not hard to do your own taxes, just time consuming.

will be, haven't gotten around to the paperwork.

I've always done my own. I guess with the house now we're worried we'll miss something. But without oodles of investments etc., it's probably still fine to do them online at HRB's web site. I'll try to talk Kris into it ... I'd rather do that anyway because accountants are expensive!

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There may be something in the mortgage about getting their approval prior to any future conveyance (i.e. adding you). They may not find out if you just do it, but may cause them to get their panties in a bunch (might be considered a default which triggers actions they can take to make things difficult). If you're not on the deed and something happens to him, it will be a huge mess that you and his family will have to deal with through the probate court.

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There may be something in the mortgage about getting their approval prior to any future conveyance (i.e. adding you). They may not find out if you just do it, but may cause them to get their panties in a bunch (might be considered a default which triggers actions they can take to make things difficult). If you're not on the deed and something happens to him, it will be a huge mess that you and his family will have to deal with through the probate court.

i don't think so, our broker knew we were going to add my name and would have flagged us if there was anything preventing that.

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Oh good! I work for a probate/estate planning guy and you can't believe some of the messes that land in our office.

Anyway, have fun with the tax returns!

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Thank God I have a man to do my taxes with me. I got a refund just shy of 1000.

fixed. :applause:

hahahahahahahaha. j/k. Don't beat me with your valentine's licorice or anything.

Hey sharla, good idea to do it by hand, and then get someone else to double-check it too if it still comes up weird. You generally shouldn't have to pay unless your withholding got screwed up, or your circumstances are really weird.

I found a mistake in turbotax the year my ex bought it for us to do the taxes with. it took longer than doing it by hand, AND it had a mistake that would have cost me $50 or so. That turned me off of computerized taxes.

Are you guys just itemizing the house on kris' return? you might not have owned it long enough to matter this year anyway. that's where you'll get hosed when you get married. Right now i have about $12k worth of deductions and tresa can take the $5k standard deduction, but if married, we'd be limited to the $12k, so we'd be paying tax on an extra 5 grand. Talk about anti-family!.

The only time we ever used an accountant was when we had a rental property, and there's all kinds of crazy depreciation math associated with that. I was just too lazy. If you just own a plain old house and live in it, itemizing is pretty straighforward. It takes me an hour or so to do my taxes at most.

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