Do you procrastinate when filing taxes?

[Quickdraw]

Nope. I either owe or I don't. This year I actually got a decent return.

 

[The Fonz]

When I was younger and poor, I would wait until the 11th hour whether I got a refund or not. I even sometimes got an extension even though I didn’t need too. These days, our CPA handles it all, business and personal. As soon as he gets all the documentation, he calls when it is done

Now you are a super rich?



Same here the CPA takes care of it all .

 

[Montanalo]

The US tax code is nearly 7,000 pages. Mind you, that covers all manner of tax filings from individuals to large corporations. Still, that is ridiculously and insanely complicated.

After working overseas for more than thirty years, I find that I often have to file multiple returns. This year alone, I filed state, US federal, Australian, Canadian and Kazakhstan returns all because of accrued foreign tax credits... and the kicker is that I retired 8 years ago.

I am not the least bit ashamed to admit that I hire a foreign tax specialist to prepare my returns.

 

[zrinkill]

I have done it on March 1st at HR block every year for the last 20 years by the same tax professional ......... she retired after this last year, so have no clue what I am gonna do next year.

 

[Creeper]

The US tax code is nearly 7,000 pages. Mind you, that covers all manner of tax filings from individuals to large corporations. Still, that is ridiculously and insanely complicated.

After working overseas for more than thirty years, I find that I often have to file multiple returns. This year alone, I filed state, US federal, Australian, Canadian and Kazakhstan returns all because of accrued foreign tax credits... and the kicker is that I retired 8 years ago.

I am not the least bit ashamed to admit that I hire a foreign tax specialist to prepare my returns.

When I was working in NYC I filed Federal, NY State, NY City and NJ income tax forms. It was awful. Every state has its own process and treatment of various exemptions and deductions. It is insanity. And, paying taxes to the state where I work but do not live is taxation without representation, since I can only vote where I live, not where I work.

 

[morasp]

I do that too but the limit is $10k per person per year. you can get up to an additional $5K with tax refunds but they're paper. I did a back test and if my wife and I had each invested the limit of $10 back in 1998 it would be worth around $100 today.

Hadn't had my tea yet. That should have been $100,000 today. I also should have mentioned that's a great gift for your granddaughter.

 

[Creeper]

Hadn't had my tea yet. That should have been $100,000 today. I also should have mentioned that's a great gift for your granddaughter.

Giving Savings Bonds to kids when they were born and growing up used to be a thing. But back then you could buy them at most banks and they were paper bonds. But I have been giving them to her every Christmas and Birthday since she was born. I didn't get that much from my family, but my granddaughter should be happy when she turns 18!

 

[morasp]

Giving Savings Bonds to kids when they were born and growing up used to be a thing. But back then you could buy them at most banks and they were paper bonds. But I have been giving them to her every Christmas and Birthday since she was born. I didn't get that much from my family, but my granddaughter should be happy when she turns 18!

And hopefully she continues purchasing them. I sure wish I would have instead trading the stock market and owning rental property, much less stress.

 

[Creeper]

And hopefully she continues purchasing them. I sure wish I would have instead trading the stock market and owning rental property, much less stress.

They need to increase the maximum purchase amount per year. $10k is really not a lot anymore.

 

[morasp]

They need to increase the maximum purchase amount per year. $10k is really not a lot anymore.

Agreed.

 

[Praxit]

..haha..!! Im the opposite. We do them right at beginning of Feb. We always get positive return, so its no biggie.

But if you owe, then I understand..lol.