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Post by Deleted on Jan 23, 2020 10:54:03 GMT -5
I have no idea if I worked and lived in the same state how it would work. I keep hoping DH gets a job in Iowa so at least one of us doesn't have to deal with both states anymore. Yes, it gets complicated. In 2012 I changed jobs and my new employer was across the state line in MO- I lived in KS. I tried to get cheap and do the KS return in Excel and transfer it to paper (TurboTax would have charged extra for the second state and KS looked simpler) and messed it up. We owed more, of course. That went on through 2015- I retired in 2014 but then we moved to MO in mid-2015 so more years of two state returns. The most infuriating example of this was when I moved from NJ to KS in mid-2003. Same employer but I worked from home for a year and then relocated to HQ. I got a bonus in 2004. They withheld NJ taxes form part of it even though I'd been a KS resident the entire year. It was because the bonus was based on my performance in 2003, the year I'd worked in NJ.
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jerseygirl
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Post by jerseygirl on Jan 23, 2020 12:15:37 GMT -5
""It drives me crazy when the financial gurus tell me to file early so scammers don't get there first and file a fraudulent return and get a giant refund.""
Mine is simple, I use TTax, I'll be done in Feb. And then I will set it on the mantle, ready to be mailed on April 15. The scammers probably won't be interested, I always make certain that I owe on April 15. I read that the average 2019 refund will be $2800, sounds like most of you like to over pay during the year and then get it refunded back?
Some of us are self employed with fluctuating income so we can't really determine whether there will be a payment or a refund until all the numbers are run. [ My income fluctuates a lot, I think of you pay as much in estimated taxes as year prior you are ok? But I run TurboTax scenarios to get a reasonable idea of amount of estimated tax to pay but I’m often not very accurate and sometimes need to pay a large amount in January Last year we got a big refund , in the 5 figures. But that just meant I paid too much not counting on the Defined Benefit Plan my financial advisor set up. I can defer much more than the SEP plan I had previously
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swamp
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Post by swamp on Jan 23, 2020 12:18:49 GMT -5
Some of us are self employed with fluctuating income so we can't really determine whether there will be a payment or a refund until all the numbers are run. [ My income fluctuates a lot, I think of you pay as much in estimated taxes as year prior you are ok? But I run TurboTax scenarios to get a reasonable idea of amount of estimated tax to pay but I’m often not very accurate and sometimes need to pay a large amount in January Last year we got a big refund , in the 5 figures. But that just meant I paid too much not counting on the Defined Benefit Plan my financial advisor set up. I can defer much more than the SEP plan I had previously I think so too. That's what my accountant tells me to do.
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Post by The Walk of the Penguin Mich on Jan 23, 2020 12:43:31 GMT -5
I have no idea if I worked and lived in the same state how it would work. I keep hoping DH gets a job in Iowa so at least one of us doesn't have to deal with both states anymore. Yes, it gets complicated. In 2012 I changed jobs and my new employer was across the state line in MO- I lived in KS. I tried to get cheap and do the KS return in Excel and transfer it to paper (TurboTax would have charged extra for the second state and KS looked simpler) and messed it up. We owed more, of course. That went on through 2015- I retired in 2014 but then we moved to MO in mid-2015 so more years of two state returns. The most infuriating example of this was when I moved from NJ to KS in mid-2003. Same employer but I worked from home for a year and then relocated to HQ. I got a bonus in 2004. They withheld NJ taxes form part of it even though I'd been a KS resident the entire year. It was because the bonus was based on my performance in 2003, the year I'd worked in NJ. I get you here. When I went out on disability and moved to WA, after I closed up my residence there and switched my residency to WA, I kept getting prompting about filing my KY state tax form. Why? I didn't live there anymore and everything was out in WA, including my mailing address, driver's license and voting registration. Nope, I had to file non resident taxes in KY for the disability income I received from my former employer's insurance company.
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Post by Deleted on Jan 27, 2020 15:48:37 GMT -5
I submitted mine today. I was just waiting for a Vanguard 1099 and that came this morning. I used to spend a lot more time making sure I had everything in my State return, but the doubling of the standard deduction in MN pretty much negated all my private school tuition and music lessons that I used to deduct, so that went a lot quicker.
Just have the kids to do, but those will owe, so I'm in no hurry. I don't have their forms yet anyhow and I want to teach DS to do his own, so I'll need to line up some time when we're both free.
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TheOtherMe
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Post by TheOtherMe on Jan 27, 2020 16:38:51 GMT -5
My federal was accepted in early January. The state was accepted last week.
Now we shall see how long it takes to process a refund for the feds. The state takes about 12 weeks.
MPL, I think it's great that you are going to teach your son how to prepare his own tax return.
I had always seen my dad prepare theirs so I wanted to do my own when the time came.
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Cookies Galore
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Post by Cookies Galore on Jan 28, 2020 11:07:41 GMT -5
Almost all info is in Tax Act, just waiting on my interest form from Capital One. We'll get back around $700 and fuuuuuck you all I'm spending it on blow!
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