Languish.org

General Category => Off the Record => Topic started by: Admiral Yi on February 26, 2014, 04:41:12 PM

Title: 2013 Tax Season
Post by: Admiral Yi on February 26, 2014, 04:41:12 PM
Just finished mine.  This year's Turbotax is quite streamlined.  Only problem I had was it kept insisting I input a value from 1099-INT, whereas I don't have any 1099-INTs.  It was finally happy when I put in zero.

Where y'all at?
Title: Re: 2013 Tax Season
Post by: MadImmortalMan on February 26, 2014, 04:47:44 PM
I'll let you know in April. Not shelling out thousands of dollars until absolutely necessary.


Edit: BTW---Last year I filed at 10:00 PM on the 15th. Pacific Time. They go by Eastern Time, so I had to pay a late fine of like $130. Watch out for that shit.  <_<
Title: Re: 2013 Tax Season
Post by: garbon on February 26, 2014, 04:54:46 PM
Quote from: MadImmortalMan on February 26, 2014, 04:47:44 PM
I'll let you know in April. Not shelling out thousands of dollars until absolutely necessary.

Same though my thousand thankfully is not usually in multiples.
Title: Re: 2013 Tax Season
Post by: The Brain on February 26, 2014, 04:56:45 PM
What the hell are you guys talking about?
Title: Re: 2013 Tax Season
Post by: garbon on February 26, 2014, 04:57:48 PM
Quote from: The Brain on February 26, 2014, 04:56:45 PM
What the hell are you guys talking about?

America. Don't worry your ugly little head. :hug:
Title: Re: 2013 Tax Season
Post by: Barrister on February 26, 2014, 05:06:24 PM
I already filed.  $700 refund incoming.  Having 3 bouncing baby tax deductions comes in handy.   :cool:

Realized we'd been doing a boneheaded move.  Opened a RRSP for Mrs. B a few years ago, since she has no pension plan.  But the plan is solely in her name, and right now her income is very low.  We should have opened it as a spousal RRSP, so I could claim the deduction, since I'm at a dramatically higher marginal rate than her. :grr:
Title: Re: 2013 Tax Season
Post by: Ed Anger on February 26, 2014, 05:10:16 PM
My money sprouted wings and flew away.
Title: Re: 2013 Tax Season
Post by: crazy canuck on February 26, 2014, 05:12:08 PM
Quote from: Ed Anger on February 26, 2014, 05:10:16 PM
My money sprouted wings and flew away.

You know they can more easily track off shore accounts now right?
Title: Re: 2013 Tax Season
Post by: Ed Anger on February 26, 2014, 05:13:18 PM
Like I trust those Swiss and Cayman island assholes.
Title: Re: 2013 Tax Season
Post by: Sheilbh on February 26, 2014, 05:23:12 PM
Quote from: The Brain on February 26, 2014, 04:56:45 PM
What the hell are you guys talking about?
Mad isn't it :(
Title: Re: 2013 Tax Season
Post by: crazy canuck on February 26, 2014, 05:41:29 PM
Quote from: Ed Anger on February 26, 2014, 05:13:18 PM
Like I trust those Swiss and Cayman island assholes.

Years ago when I articled at a large firm a senior partner came into our articled student office and asked who wanted to go to Switzerland on an errand.  All hands immediately shot up.  Fortunately I wasnt selected.  The poor sod who was had the errand of personally serving an order requiring a bank to disclose certain documents.  When he arrived at the bank to serve the papers he was arrested by the police and put on the next plane out with instructions to inform the firm that if they attempted any such nonsense again their would be jail time.

But I think those days of secrecy are a thing of the past.
Title: Re: 2013 Tax Season
Post by: Admiral Yi on February 26, 2014, 06:48:58 PM
If y'all furriners feel the need to share how great your tax system is, please go ahead.  :)
Title: Re: 2013 Tax Season
Post by: Grey Fox on February 26, 2014, 07:55:53 PM
I expect to pay out a couple hundred this year

:(

nevermind, almost 2k in return. My son's getting his own room it seems.
Title: Re: 2013 Tax Season
Post by: The Brain on February 27, 2014, 01:44:12 AM
Quote from: Admiral Yi on February 26, 2014, 06:48:58 PM
If y'all furriners feel the need to share how great your tax system is, please go ahead.  :)

The tax system is horrible (the tax is too damn high), but for many people doing their taxes just means sending a simple SMS or similar level of effort.
Title: Re: 2013 Tax Season
Post by: sbr on February 27, 2014, 06:41:57 PM
Used Turbo tax again, and got back $4700.  I didn't expect or want that much back.
Title: Re: 2013 Tax Season
Post by: dps on February 27, 2014, 06:48:39 PM
Quote from: sbr on February 27, 2014, 06:41:57 PM
Used Turbo tax again, and got back $4700.  I didn't expect or want that much back.

If you don't want it, I'll gladly take it off your hands.
Title: Re: 2013 Tax Season
Post by: sbr on February 27, 2014, 06:50:32 PM
Quote from: dps on February 27, 2014, 06:48:39 PM
Quote from: sbr on February 27, 2014, 06:41:57 PM
Used Turbo tax again, and got back $4700.  I didn't expect or want that much back.

If you don't want it, I'll gladly take it off your hands.

:P  No, I would just have preferred to have it in my paycheck last year, rather than get it back this year.
Title: Re: 2013 Tax Season
Post by: Grey Fox on February 28, 2014, 07:50:26 AM
That's not how society works.
Title: Re: 2013 Tax Season
Post by: garbon on February 28, 2014, 08:44:03 AM
Quote from: Grey Fox on February 28, 2014, 07:50:26 AM
That's not how society works.

Yes it does. You change your withholding.
Title: Re: 2013 Tax Season
Post by: KRonn on February 28, 2014, 09:04:14 AM
My taxes are done. Getting a few hundred back from the Feds, paying the state $20.  Pretty much breaking even which is fine with me. I have my withholding's setup that way rather than pay more tax during the year to get a big refund.
Title: Re: 2013 Tax Season
Post by: Grey Fox on February 28, 2014, 09:50:39 AM
Quote from: garbon on February 28, 2014, 08:44:03 AM
Quote from: Grey Fox on February 28, 2014, 07:50:26 AM
That's not how society works.

Yes it does. You change your withholding.

Is there a min or can you choose any numbers (like 0$)?
Title: Re: 2013 Tax Season
Post by: crazy canuck on February 28, 2014, 12:02:46 PM
Quote from: Grey Fox on February 28, 2014, 09:50:39 AM
Quote from: garbon on February 28, 2014, 08:44:03 AM
Quote from: Grey Fox on February 28, 2014, 07:50:26 AM
That's not how society works.

Yes it does. You change your withholding.

Is there a min or can you choose any numbers (like 0$)?

You can choose any number you wish.  Although Quebec might be different given how they structure things.
Title: Re: 2013 Tax Season
Post by: Ideologue on February 28, 2014, 12:28:40 PM
Got back $1200 from fedgov like 3 weeks ago.
$700 from SC today.

I did my taxes early unlike you layabouts. :P
Title: Re: 2013 Tax Season
Post by: Admiral Yi on February 28, 2014, 12:37:44 PM
1099-Ds and 1099-INTs don't generate as early as W4s.  :secret:
Title: Re: 2013 Tax Season
Post by: Grey Fox on February 28, 2014, 01:09:53 PM
Quote from: crazy canuck on February 28, 2014, 12:02:46 PM
Quote from: Grey Fox on February 28, 2014, 09:50:39 AM
Quote from: garbon on February 28, 2014, 08:44:03 AM
Quote from: Grey Fox on February 28, 2014, 07:50:26 AM
That's not how society works.

Yes it does. You change your withholding.

Is there a min or can you choose any numbers (like 0$)?

You can choose any number you wish.  Although Quebec might be different given how they structure things.

:hmm: maybe
Title: Re: 2013 Tax Season
Post by: Admiral Yi on February 28, 2014, 01:13:59 PM
I think if you choose too many deductions on your W-2 and the difference between your withholding and your actual taxes ends up being too large, you pay a fine.
Title: Re: 2013 Tax Season
Post by: crazy canuck on February 28, 2014, 01:22:21 PM
Quote from: Grey Fox on February 28, 2014, 01:09:53 PM
Quote from: crazy canuck on February 28, 2014, 12:02:46 PM
Quote from: Grey Fox on February 28, 2014, 09:50:39 AM
Quote from: garbon on February 28, 2014, 08:44:03 AM
Quote from: Grey Fox on February 28, 2014, 07:50:26 AM
That's not how society works.

Yes it does. You change your withholding.

Is there a min or can you choose any numbers (like 0$)?

You can choose any number you wish.  Although Quebec might be different given how they structure things.

:hmm: maybe

did a quick check and there is indeed a separate form for Residents of Quebec that looks like it is fairly rigid in the calculation of withholding based on income.

Its not such a bad thing since in the rest of Canada the withholding still has to be based on a genuine pre-estimate of taxes to be paid but there may be less flexibility for you to decrease the amount of overpayment.
Title: Re: 2013 Tax Season
Post by: alfred russel on February 28, 2014, 01:39:49 PM
Quote from: Ideologue on February 28, 2014, 12:28:40 PM
Got back $1200 from fedgov like 3 weeks ago.
$700 from SC today.

I did my taxes early unlike you layabouts. :P

I did the calculations and figured out my tax liability early to adjust my tax withholdings accordingly. So unlike some layabouts I will have a trivial liability or refund.*




*None of this is true.
Title: Re: 2013 Tax Season
Post by: Admiral Yi on February 28, 2014, 01:47:20 PM
Actuary humor. :thumbsup:
Title: Re: 2013 Tax Season
Post by: sbr on February 28, 2014, 02:16:29 PM
Quote from: Admiral Yi on February 28, 2014, 01:13:59 PM
I think if you choose too many deductions on your W-2 and the difference between your withholding and your actual taxes ends up being too large, you pay a fine.

I don't think there is any punishment for lettign them withhold too much from you.  I believe if you owe too much they can make you pay estimated taxes during the year to make sure it doesn't happen again.

This is all pretty much out of my ass though.
Title: Re: 2013 Tax Season
Post by: Admiral Yi on February 28, 2014, 02:20:45 PM
No, now that you mention it, my ass is in accord with your ass.
Title: Re: 2013 Tax Season
Post by: alfred russel on February 28, 2014, 02:23:27 PM
Quote from: Admiral Yi on February 28, 2014, 01:47:20 PM
Actuary humor. :thumbsup:

I'm an accountant, not an actuary.

You know how you tell whether you are talking to an actuary and an accountant? An accountant looks at your shoes when talking.
Title: Re: 2013 Tax Season
Post by: The Brain on February 28, 2014, 02:25:01 PM
I don't think all actuaries are gay.
Title: Re: 2013 Tax Season
Post by: viper37 on February 28, 2014, 02:49:58 PM
Quote from: Grey Fox on February 28, 2014, 09:50:39 AM
Is there a min or can you choose any numbers (like 0$)?
First, just just fill this form:
http://www.revenuquebec.ca/documents/fr/formulaires/tp/tp-1015.3%282014-01%29dx.pdf
with your basic deductions and compare it with what your employer has.  If it's the same, then you'll need to check with your wife, who should claim the deduction for the kids.  You've got a similar form for the ARC.

They won't let you pay less taxes, but you could pay more if you wished. 

What likely happens is you take REER at the end of the year, and they lower substentially your taxable income, so, in effect, you paid too much taxes during the year. 

But you could simply claim other tax credits that your wife already takes, for the sake of the weekly payments, that's not a fraud.  It's only a fraud if you do it on your official tax report at the end of the year.  So long as all your dues are paid by April 30th, you're off the hook.  Of course, you don't want to get in a situation where you have to fork over 3000$ by April...
Title: Re: 2013 Tax Season
Post by: viper37 on February 28, 2014, 02:56:41 PM
Quote from: Admiral Yi on February 28, 2014, 01:13:59 PM
I think if you choose too many deductions on your W-2 and the difference between your withholding and your actual taxes ends up being too large, you pay a fine.
For Quebec and Canada, no fines if you pay by April 30th.
However, if the amount is really large (no specific figures, but i think it's proportional to your taxable income), you will be asked to make provisionnal accounts for next year, each months or each trimesters, depending on the sum being asked.  Then, if you don't make those, you will be fined.
Title: Re: 2013 Tax Season
Post by: Grey Fox on February 28, 2014, 02:59:48 PM
Quote from: viper37 on February 28, 2014, 02:49:58 PM
Quote from: Grey Fox on February 28, 2014, 09:50:39 AM
Is there a min or can you choose any numbers (like 0$)?
First, just just fill this form:
http://www.revenuquebec.ca/documents/fr/formulaires/tp/tp-1015.3%282014-01%29dx.pdf
with your basic deductions and compare it with what your employer has.  If it's the same, then you'll need to check with your wife, who should claim the deduction for the kids.  You've got a similar form for the ARC.

They won't let you pay less taxes, but you could pay more if you wished. 

What likely happens is you take REER at the end of the year, and they lower substentially your taxable income, so, in effect, you paid too much taxes during the year. 

But you could simply claim other tax credits that your wife already takes, for the sake of the weekly payments, that's not a fraud.  It's only a fraud if you do it on your official tax report at the end of the year.  So long as all your dues are paid by April 30th, you're off the hook.  Of course, you don't want to get in a situation where you have to fork over 3000$ by April...

Yeah, I use that. I was just wondering, if in the us, it was possible to have 0$ being withheld by your employer(s).
Title: Re: 2013 Tax Season
Post by: alfred russel on February 28, 2014, 03:08:19 PM
Quote from: The Brain on February 28, 2014, 02:25:01 PM
I don't think all actuaries are gay.

Neither do I. However, this is just my opinion. It is hard to be certain since they don't get laid.
Title: Re: 2013 Tax Season
Post by: Ed Anger on February 28, 2014, 03:09:08 PM
Gulletr just smears himself with blueberries.
Title: Re: 2013 Tax Season
Post by: The Brain on February 28, 2014, 05:50:50 PM
Great. Now I don't feel so good...
Title: Re: 2013 Tax Season
Post by: dps on March 01, 2014, 08:47:35 AM
Quote from: Grey Fox on February 28, 2014, 02:59:48 PM
Quote from: viper37 on February 28, 2014, 02:49:58 PM
Quote from: Grey Fox on February 28, 2014, 09:50:39 AM
Is there a min or can you choose any numbers (like 0$)?
First, just just fill this form:
http://www.revenuquebec.ca/documents/fr/formulaires/tp/tp-1015.3%282014-01%29dx.pdf
with your basic deductions and compare it with what your employer has.  If it's the same, then you'll need to check with your wife, who should claim the deduction for the kids.  You've got a similar form for the ARC.

They won't let you pay less taxes, but you could pay more if you wished. 

What likely happens is you take REER at the end of the year, and they lower substentially your taxable income, so, in effect, you paid too much taxes during the year. 

But you could simply claim other tax credits that your wife already takes, for the sake of the weekly payments, that's not a fraud.  It's only a fraud if you do it on your official tax report at the end of the year.  So long as all your dues are paid by April 30th, you're off the hook.  Of course, you don't want to get in a situation where you have to fork over 3000$ by April...

Yeah, I use that. I was just wondering, if in the us, it was possible to have 0$ being withheld by your employer(s).

IIRC, If you made so little the last year that you didn't have to pay any federal income tax, and you anticipate the same for the current year, you can declare yourself exempt from federal income tax withholding on your withholding form, and your employer won't hold out any federal income tax.  However, the limitations for that require a really low income, so it would have to be someone working very few hours. 

And I suppose if you have a really large family, you might be able to claim so many exemptions that you would end up not having anything withheld.
Title: Re: 2013 Tax Season
Post by: fhdz on March 02, 2014, 12:18:26 AM
This year is going to be a tax bonanza for me. Thank you, unemployment + child credits + mortgage credit + head of household filing.
Title: Re: 2013 Tax Season
Post by: fhdz on March 02, 2014, 12:18:49 AM
Quote from: Ed Anger on February 28, 2014, 03:09:08 PM
Gulletr just smears himself with blueberries.

They taste like burning.
Title: Re: 2013 Tax Season
Post by: MadImmortalMan on March 02, 2014, 12:21:23 AM
Quote from: fhdz on March 02, 2014, 12:18:26 AM
This year is going to be a tax bonanza for me. Thank you, unemployment + child credits + mortgage credit + head of household filing.


You're welcome.  ;)
Title: Re: 2013 Tax Season
Post by: fhdz on March 02, 2014, 12:22:49 AM
Quote from: MadImmortalMan on March 02, 2014, 12:21:23 AM
Quote from: fhdz on March 02, 2014, 12:18:26 AM
This year is going to be a tax bonanza for me. Thank you, unemployment + child credits + mortgage credit + head of household filing.


You're welcome.  ;)

Don't worry. I'll still end up owing in Oregon. I always end up owing in Oregon. :D

Next year will be a minefield. :ph34r:
Title: Re: 2013 Tax Season
Post by: Admiral Yi on March 02, 2014, 12:23:14 AM
Quote from: fhdz on March 02, 2014, 12:18:26 AM
This year is going to be a tax bonanza for me. Thank you, unemployment + child credits + mortgage credit + head of household filing.

You're liable for taxes on the unemployment.
Title: Re: 2013 Tax Season
Post by: fhdz on March 02, 2014, 12:23:37 AM
Quote from: Admiral Yi on March 02, 2014, 12:23:14 AM
Quote from: fhdz on March 02, 2014, 12:18:26 AM
This year is going to be a tax bonanza for me. Thank you, unemployment + child credits + mortgage credit + head of household filing.

You're liable for taxes on the unemployment.

They've already been withheld.
Title: Re: 2013 Tax Season
Post by: Berkut on March 02, 2014, 01:15:13 AM
We really need to adjust our withholding.

Got $5400 back from the Feds, and $1200 from New York.

Coupled with a nice $9800 bonus, it's been a good month.
Title: Re: 2013 Tax Season
Post by: Jaron on March 02, 2014, 01:18:18 AM
Quote from: fhdz on March 02, 2014, 12:23:37 AM
Quote from: Admiral Yi on March 02, 2014, 12:23:14 AM
Quote from: fhdz on March 02, 2014, 12:18:26 AM
This year is going to be a tax bonanza for me. Thank you, unemployment + child credits + mortgage credit + head of household filing.

You're liable for taxes on the unemployment.

They've already been withheld.

I made the mistake when I was unemployed in 2010 of not paying tax on my unemployment. The next tax season was not fun. :P
Title: Re: 2013 Tax Season
Post by: katmai on March 02, 2014, 08:51:25 AM
As of now I won't be getting any refund this year because I'm fighting stupid, shifty film company that is trying to say I am most expensive Camera Assistant alive as they sent out 1099 saying paid me $10,500, which is amazing since I only worked one day!

Since it is fly by night company haven't been able to track them down to get them to fix the mess. So IRS is trying to tell me I owe $3,700 in taxes.
Title: Re: 2013 Tax Season
Post by: CountDeMoney on March 02, 2014, 09:02:46 AM
Quote from: fhdz on March 02, 2014, 12:18:26 AM
This year is going to be a tax bonanza for me. Thank you, unemployment + child credits + mortgage credit + head of household filing.

I haven't even looked at mine, I don't even know what kind of filing nightmare it's going to be. 
I really didn't get very much in the way of unemployment, but I didn't get much in 2012, either; apparently the myths about the U.S.'s alleged massive underground welfare economy is exactly that, and all the GOPtards and conservative assfucks that complain about it are really using it as an excuse to hate on the darkies.
Title: Re: 2013 Tax Season
Post by: Admiral Yi on March 10, 2014, 01:01:29 PM
Just got my state refund. :punk:
Title: Re: 2013 Tax Season
Post by: Capetan Mihali on March 10, 2014, 03:33:19 PM
Quote from: katmai on March 02, 2014, 08:51:25 AM
As of now I won't be getting any refund this year because I'm fighting stupid, shifty film company that is trying to say I am most expensive Camera Assistant alive as they sent out 1099 saying paid me $10,500, which is amazing since I only worked one day!

Since it is fly by night company haven't been able to track them down to get them to fix the mess. So IRS is trying to tell me I owe $3,700 in taxes.

That sucks.  :(
Title: Re: 2013 Tax Season
Post by: crazy canuck on March 10, 2014, 04:19:29 PM
Too bad you cant claim the pay owing to you.  :D
Title: Re: 2013 Tax Season
Post by: Liep on March 10, 2014, 06:27:40 PM
They were pretty spot on with my taxes this year, only payed about $15 too much.
Title: Re: 2013 Tax Season
Post by: katmai on March 10, 2014, 06:31:14 PM
Quote from: crazy canuck on March 10, 2014, 04:19:29 PM
Too bad you cant claim the pay owing to you.  :D
No kidding.
In my favor with IRS is they screwed others over and did such a shitty job that they were denied when applied for tax credit from state for their subsequent production.
Title: Re: 2013 Tax Season
Post by: Admiral Yi on March 12, 2014, 11:52:49 AM
Just got my federal refund. :yeah:
Title: Re: 2013 Tax Season
Post by: Grey Fox on March 12, 2014, 11:56:26 AM
Quote from: Admiral Yi on March 12, 2014, 11:52:49 AM
Just got my federal refund. :yeah:

What are you buying?

Tell me something fun, not some boring debt shorting.
Title: Re: 2013 Tax Season
Post by: Admiral Yi on March 12, 2014, 11:57:28 AM
Quote from: Grey Fox on March 12, 2014, 11:56:26 AM
What are you buying?

Tell me something fun, not some boring debt shorting.

Hookers and ganja in Montreal this summer.
Title: Re: 2013 Tax Season
Post by: Grey Fox on March 12, 2014, 11:59:20 AM
:yeah:
Title: Re: 2013 Tax Season
Post by: garbon on April 12, 2014, 06:22:40 PM
Finally completed. :cool:

-_-
Title: Re: 2013 Tax Season
Post by: Caliga on April 12, 2014, 07:23:17 PM
As with last year, we owe a shitload to the feds and like five bucks to Kentucky. :hmm:
Title: Re: 2013 Tax Season
Post by: Valmy on April 12, 2014, 07:45:21 PM
I knew all that tuition and having kids would pay off!  Refund incoming despite me minimizing my deductions last year.
Title: Re: 2013 Tax Season
Post by: PDH on April 12, 2014, 10:02:08 PM
I worked it out pretty good last year - I owe zero.  Of course, I could maybe have had less deductions and put away money each month, but I don't trust myself to do that - I am kind of shifty.

Pluse, with no state income tax I didn't pay too much.
Title: Re: 2013 Tax Season
Post by: Phillip V on April 12, 2014, 10:57:15 PM
Filed today. Anybody use that Amazon e-giftcard offer from TurboTax? I just gave them $1100 of my federal refund in return for a future $1210 e-giftcard. :huh:
Title: Re: 2013 Tax Season
Post by: The Brain on April 13, 2014, 02:08:44 AM
I will get some money. :)
Title: Re: 2013 Tax Season
Post by: Admiral Yi on April 13, 2014, 04:29:03 AM
Quote from: Phillip V on April 12, 2014, 10:57:15 PM
Filed today. Anybody use that Amazon e-giftcard offer from TurboTax? I just gave them $1100 of my federal refund in return for a future $1210 e-giftcard. :huh:

Sound like a crap deal to me.  Can you really spend that much at Amazon?
Title: Re: 2013 Tax Season
Post by: Admiral Yi on April 13, 2014, 04:43:58 AM
Sorry if that sounded harsh dude. :sleep:
Title: Re: 2013 Tax Season
Post by: Sheilbh on April 13, 2014, 05:45:13 AM
Quote from: Admiral Yi on April 13, 2014, 04:29:03 AM
Can you really spend that much at Amazon?
Christ yes.
Title: Re: 2013 Tax Season
Post by: Eddie Teach on April 13, 2014, 06:28:55 AM
Quote from: Admiral Yi on April 13, 2014, 04:29:03 AM
Can you really spend that much at Amazon?

http://www.amazon.com/Sole-Fitness-E35-Elliptical-Machine/dp/B0090X08JG/ref=lp_3407771_1_19?s=exercise-and-fitness&ie=UTF8&qid=1397388195&sr=1-19 (http://www.amazon.com/Sole-Fitness-E35-Elliptical-Machine/dp/B0090X08JG/ref=lp_3407771_1_19?s=exercise-and-fitness&ie=UTF8&qid=1397388195&sr=1-19)
Title: Re: 2013 Tax Season
Post by: Admiral Yi on April 14, 2014, 06:53:10 PM
Heard an interesting factoid on NPR today: if you're owed a refund, there is no penalty for filing late, because the penalty is calculated as a percentage of the amount you owe.
Title: Re: 2013 Tax Season
Post by: Jacob on April 14, 2014, 07:00:35 PM
Quote from: Admiral Yi on April 14, 2014, 06:53:10 PM
Heard an interesting factoid on NPR today: if you're owed a refund, there is no penalty for filing late, because the penalty is calculated as a percentage of the amount you owe.

Same in Canada. I went through a phase where I'd habitually file late every year, since I knew they'd owe me.
Title: Re: 2013 Tax Season
Post by: alfred russel on April 14, 2014, 08:17:54 PM
Still haven't started. Fuck its going to be a long night.  :(
Title: Re: 2013 Tax Season
Post by: Eddie Teach on April 14, 2014, 08:19:33 PM
Quote from: alfred russel on April 14, 2014, 08:17:54 PM
Still haven't started. Fuck its going to be a long night.  :(

You lose your accounting merit badge for that.
Title: Re: 2013 Tax Season
Post by: Monoriu on April 14, 2014, 08:35:48 PM
There is no withholding or pay as you go in HK.  I get my full salary each month.  In January 2014, I sent a cheque to the tax guys to pay all my taxes in 2013 in one go.
Title: Re: 2013 Tax Season
Post by: DGuller on April 14, 2014, 09:51:19 PM
Quote from: alfred russel on April 14, 2014, 08:17:54 PM
Still haven't started. Fuck its going to be a long night.  :(
Same here.  Speaking of which, here is something I wonder:  is there such a thing as a small amount exception for the tax returns?  I find that most of my time filling out tax returns is spent on tracking down those 3-4 1099-INT forms, for a grand total of $11.85 in interest income, and not on the W-2 form, which takes 10 minutes to put in and accounts for 99.99% of my income.
Title: Re: 2013 Tax Season
Post by: Eddie Teach on April 14, 2014, 09:56:08 PM
Quote from: DGuller on April 14, 2014, 09:51:19 PM
Same here.

Ok, I take it back.
Title: Re: 2013 Tax Season
Post by: alfred russel on April 14, 2014, 10:04:50 PM
Quote from: DGuller on April 14, 2014, 09:51:19 PM
Quote from: alfred russel on April 14, 2014, 08:17:54 PM
Still haven't started. Fuck its going to be a long night.  :(
Same here.  Speaking of which, here is something I wonder:  is there such a thing as a small amount exception for the tax returns?  I find that most of my time filling out tax returns is spent on tracking down those 3-4 1099-INT forms, for a grand total of $11.85 in interest income, and not on the W-2 form, which takes 10 minutes to put in and accounts for 99.99% of my income.

I think that if it is less than $10 you generally don't get a 1099, but you should theoretically declare everything. In practice, it really doesn't matter.

I'm going to bed. I'll get up early tomorrow. I know what I'm doing at work tomorrow.  :blush:
Title: Re: 2013 Tax Season
Post by: DGuller on April 14, 2014, 10:18:12 PM
Quote from: alfred russel on April 14, 2014, 10:04:50 PM
Quote from: DGuller on April 14, 2014, 09:51:19 PM
Quote from: alfred russel on April 14, 2014, 08:17:54 PM
Still haven't started. Fuck its going to be a long night.  :(
Same here.  Speaking of which, here is something I wonder:  is there such a thing as a small amount exception for the tax returns?  I find that most of my time filling out tax returns is spent on tracking down those 3-4 1099-INT forms, for a grand total of $11.85 in interest income, and not on the W-2 form, which takes 10 minutes to put in and accounts for 99.99% of my income.

I think that if it is less than $10 you generally don't get a 1099, but you should theoretically declare everything. In practice, it really doesn't matter.

I'm going to bed. I'll get up early tomorrow. I know what I'm doing at work tomorrow.  :blush:
That's my plan as well.  :Embarrass:
Title: Re: 2013 Tax Season
Post by: Admiral Yi on April 14, 2014, 10:19:18 PM
If you earn less than $10 interest at a given institution they don't issue you a 1099-INT and they don't report it to the IRS.  And unless you've kept a running tally of interest earned from your monthly statements, you really have no way of knowing how much interest you earned.  So skip it.

Title: Re: 2013 Tax Season
Post by: MadImmortalMan on April 15, 2014, 04:10:30 AM
In the next 24 hours, I will file my taxes.  :P
Title: Re: 2013 Tax Season
Post by: Norgy on April 15, 2014, 04:24:24 AM
Taxes filed, expected tax return: 14.000 NOK plus interest.  :bowler:
Title: Re: 2013 Tax Season
Post by: Ed Anger on April 15, 2014, 07:39:31 AM
Quote from: Norgy on April 15, 2014, 04:24:24 AM
Taxes filed, expected tax return: 14.000 NOK plus interest.  :bowler:

Now that's some foldin' money!
Title: Re: 2013 Tax Season
Post by: Ed Anger on April 15, 2014, 07:39:52 AM
I'd take it all in stripper singles.
Title: Re: 2013 Tax Season
Post by: alfred russel on April 15, 2014, 10:16:07 AM
When I first became an accountant, a family member approached me. "I think I need some advice on what I should do with my money," he started. "Well, what are you currently doing?" He explained that he had keeping all his money in his checking account. I asked how much he had in the account. He said about $900,000.

I thought this was shocking stupidity.

But now that I'm starting to do my taxes, and trying to figure out what has been going on for the past year, I've realized that I just checked my bank account for the first time this year and have allowed a shocking amount of money to just sit in checking (though considerably less than $900k).

I think I used to manage my money far more closesly (and better) when I had very little. Once I started to get a decent amount of cash, enough to really start generating investment returns, I sort of quit caring.
Title: Re: 2013 Tax Season
Post by: Ed Anger on April 15, 2014, 10:17:30 AM
It does tend to build up.
Title: Re: 2013 Tax Season
Post by: Grey Fox on April 15, 2014, 10:19:33 AM
The government needs to take it away.
Title: Re: 2013 Tax Season
Post by: alfred russel on April 15, 2014, 10:23:40 AM
Quote from: Grey Fox on April 15, 2014, 10:19:33 AM
The government needs to take it away.

If we are talking about my relative, he is near retirement.

If we are talking about me, it is worth emphasizing that we are talking about substantially less than $900,000.  :lol:
Title: Re: 2013 Tax Season
Post by: Grey Fox on April 15, 2014, 10:29:39 AM
Is it more than 42k?
Title: Re: 2013 Tax Season
Post by: Scipio on April 15, 2014, 10:31:17 AM
I fucking turned a profit.

FUcking fucks.

Fucks.

I had to pay out 2 k.

Fucks.
Title: Re: 2013 Tax Season
Post by: Monoriu on April 15, 2014, 10:40:45 AM
Quote from: alfred russel on April 15, 2014, 10:23:40 AM


If we are talking about me, it is worth emphasizing that we are talking about substantially less than $900,000.  :lol:

$899,998? :unsure:
Title: Re: 2013 Tax Season
Post by: alfred russel on April 15, 2014, 01:14:34 PM
Quote from: Grey Fox on April 15, 2014, 10:29:39 AM
Is it more than 42k?

It is less than that.
Title: Re: 2013 Tax Season
Post by: derspiess on April 15, 2014, 01:16:34 PM
Taxes suck.
Title: Re: 2013 Tax Season
Post by: Grey Fox on April 15, 2014, 01:27:24 PM
Quote from: alfred russel on April 15, 2014, 01:14:34 PM
Quote from: Grey Fox on April 15, 2014, 10:29:39 AM
Is it more than 42k?

It is less than that.

Than, when the revolution comes, you get to keep it.
Title: Re: 2013 Tax Season
Post by: DGuller on April 15, 2014, 01:29:23 PM
I was in the same boat with the oversized checking account just earlier today.  I live significantly below my means, so the balance in my direct deposit checking account grows over time, and it grew to some pretty significant figure.  It's easy to reach a decision paralysis with such amounts, since every misstep or mistime can cost easily cost you four figures.  At least with 401k, your regular contributions are out of sight and out of mind.

Of course, tax day is a good day to clean the house a little, so just today I purged my checking account.  A little Roth IRA here, a little "high yield" savings account there, and it's back to "enough to not bounce your checks" level.
Title: Re: 2013 Tax Season
Post by: Ed Anger on April 15, 2014, 01:32:59 PM
I used to pop the excess into CD's, but damn the interest sucks on those nowadays.
Title: Re: 2013 Tax Season
Post by: Norgy on April 15, 2014, 01:34:07 PM
Quote from: Ed Anger on April 15, 2014, 07:39:31 AM
Quote from: Norgy on April 15, 2014, 04:24:24 AM
Taxes filed, expected tax return: 14.000 NOK plus interest.  :bowler:

Now that's some foldin' money!

I tried doing a quick estimate as to how it translates into USD. Less than $ 2000. Still, worth slotting into that great black hole that is my retirement fund.
Since I spent last year being 100 % employed rather than on my own dime, I also get: Holiday Money. And that, my friend, is worth getting a boner over.
55k NOK tax free. All mine. My precioussssssss.
Title: Re: 2013 Tax Season
Post by: derspiess on April 15, 2014, 01:39:18 PM
Quote from: Ed Anger on April 15, 2014, 01:32:59 PM
I used to pop the excess into CD's, but damn the interest sucks on those nowadays.

:rolleyes: 1.05% ain't enough for you??
Title: Re: 2013 Tax Season
Post by: Ed Anger on April 15, 2014, 01:41:01 PM
Quote from: derspiess on April 15, 2014, 01:39:18 PM
Quote from: Ed Anger on April 15, 2014, 01:32:59 PM
I used to pop the excess into CD's, but damn the interest sucks on those nowadays.

:rolleyes: 1.05% ain't enough for you??

No.

THANKS OBAMA
Title: Re: 2013 Tax Season
Post by: Ed Anger on April 15, 2014, 01:41:57 PM
I wish I could get tax free holiday money.  :(
Title: Re: 2013 Tax Season
Post by: MadImmortalMan on April 15, 2014, 01:43:16 PM
Quote from: DGuller on April 15, 2014, 01:29:23 PM"high yield" savings account

Does that exist?   :P
Title: Re: 2013 Tax Season
Post by: Norgy on April 15, 2014, 02:26:18 PM
Quote from: derspiess on April 15, 2014, 01:39:18 PM
Quote from: Ed Anger on April 15, 2014, 01:32:59 PM
I used to pop the excess into CD's, but damn the interest sucks on those nowadays.

:rolleyes: 1.05% ain't enough for you??

Before he found CDs, he used to invest in Betamax. So it's an improvement.
Title: Re: 2013 Tax Season
Post by: DGuller on April 15, 2014, 02:38:55 PM
Quote from: MadImmortalMan on April 15, 2014, 01:43:16 PM
Quote from: DGuller on April 15, 2014, 01:29:23 PM"high yield" savings account

Does that exist?   :P
My Capital One 360 account (formerly ING Direct) yields 0.75%.  Not sure how they manage it, given that there are no significant restrictions on withdrawal that I'm aware of.
Title: Re: 2013 Tax Season
Post by: Norgy on April 15, 2014, 02:49:02 PM
I've put small amounts each month into a fund investing in the BRICS.
It has had a good yield. 28,3 % in 2013. I thank the pencilpushing cuntiballsfucktards for their effort.
Title: Re: 2013 Tax Season
Post by: PJL on April 15, 2014, 03:49:23 PM
Quote from: Norgy on April 15, 2014, 02:49:02 PM
I've put small amounts each month into a fund investing in the BRICS.
It has had a good yield. 28,3 % in 2013. I thank the pencilpushing cuntiballsfucktards for their effort.

Is that a good idea given that C has a housing bubble bursting, I is in the middle of elections, and R is pissing off The West (TM)?
Title: Re: 2013 Tax Season
Post by: Norgy on April 15, 2014, 04:03:31 PM
Nope.
I expect a loss in 2014.
I'll also spread about a bit, investing in Africa. Eastern Africa. Kenya, Tanzania and Uganda are growing markets. Heck, I might invest in a Kenyan wife. The girls there really are beautiful. It will be my stint at colonialism.

I'd like my headstone to read "Well, he was stupid and drunk most of his life, and the rest was ruined by bad investments. Thank Fuck he's dead".

Title: Re: 2013 Tax Season
Post by: derspiess on April 15, 2014, 04:07:23 PM
Quote from: Norgy on April 15, 2014, 04:03:31 PM
I'd like my headstone to read "Well, he was stupid and drunk most of his life, and the rest was ruined by bad investments. Thank Fuck he's dead".

I called that already :angry:
Title: Re: 2013 Tax Season
Post by: Valmy on April 15, 2014, 04:13:20 PM
Quote from: Norgy on April 15, 2014, 02:26:18 PM
Before he found CDs, he used to invest in Betamax. So it's an improvement.

This looks like impressive new technology to me:

(https://languish.org/forums/proxy.php?request=http%3A%2F%2Fdoyouremember.com%2Fwp-content%2Fuploads%2F2013%2F08%2FBetaMax.jpg&hash=6d15f06cba210e66ce3119e2f0243caf5a13bdf8)
Title: Re: 2013 Tax Season
Post by: MadImmortalMan on April 15, 2014, 04:15:34 PM
Apparently we messed up something quite badly this year. I'm getting five grand back. Shit.
Title: Re: 2013 Tax Season
Post by: Norgy on April 15, 2014, 04:17:58 PM
I hear good things about this HDDVD stuff. I think I'll plop all my money into that. Like anything called Blu-Ray stands a chance.  :rolleyes:
Blu-Ray is a failed country and western singer. Not a real format. And don't even get me started on those so-called streaming service. Like the Internet can ever replace having a physical HDDVD in your hands. Give me a break! The idea is laughable.  :glare:
Title: Re: 2013 Tax Season
Post by: Admiral Yi on April 15, 2014, 04:41:58 PM
I let my checking build up until it hits $7K, then peel off five grand and throw it at an investment.
Title: Re: 2013 Tax Season
Post by: Phillip V on April 15, 2014, 05:01:32 PM
Quote from: DGuller on April 15, 2014, 02:38:55 PM
Quote from: MadImmortalMan on April 15, 2014, 01:43:16 PM
Quote from: DGuller on April 15, 2014, 01:29:23 PM"high yield" savings account

Does that exist?   :P
My Capital One 360 account (formerly ING Direct) yields 0.75%.  Not sure how they manage it, given that there are no significant restrictions on withdrawal that I'm aware of.
I finally closed my former ING savings account last week and transferred funds to checking account. Such low interest is no longer worth remembering another username + that code.
Title: Re: 2013 Tax Season
Post by: garbon on April 15, 2014, 06:32:12 PM
Yeah the ing direct => capital one 360 is pretty crappy now. :(
Title: Re: 2013 Tax Season
Post by: alfred russel on April 15, 2014, 09:41:41 PM
Taxes Filed!!  :showoff:

Title: Re: 2013 Tax Season
Post by: CountDeMoney on April 15, 2014, 09:47:02 PM
Quote from: alfred russel on April 15, 2014, 09:41:41 PM
Taxes Filed!!  :showoff:

Ditto.

And I got back every goddamned penny I put in.  Suck 47% of my dick, bitches.
Title: Re: 2013 Tax Season
Post by: CountDeMoney on April 15, 2014, 09:57:58 PM
IMMA TAKER
Title: Re: 2013 Tax Season
Post by: Ed Anger on April 15, 2014, 10:18:47 PM
I don't begrudge you sucking on the teat of the Republic.
Title: Re: 2013 Tax Season
Post by: Ed Anger on April 15, 2014, 10:21:40 PM
I would like some of those sweet food stamps however.
Title: Re: 2013 Tax Season
Post by: CountDeMoney on April 15, 2014, 10:26:51 PM
Quote from: Ed Anger on April 15, 2014, 10:18:47 PM
I don't begrudge you sucking on the teat of the Republic.

Considering I saw a drop of over $70,000 in total income while still managing to maintain a mortgage and pay outrageous COBRA premiums for a full year, I think I deserved it.
Title: Re: 2013 Tax Season
Post by: Ed Anger on April 15, 2014, 10:34:44 PM
Yes you did. Spicy didn't think you did however. Spicy is a bad, bad man.
Title: Re: 2013 Tax Season
Post by: CountDeMoney on April 15, 2014, 10:37:30 PM
I took the tax dollars I stole from him and gave it to Planned Parenthood.  Abortions on me, ladies!
Title: Re: 2013 Tax Season
Post by: Ed Anger on April 15, 2014, 10:40:12 PM
Making it rain...wire hangers.
Title: Re: 2013 Tax Season
Post by: CountDeMoney on April 15, 2014, 10:46:43 PM
Meh...punch in the gut, a toss down the stairs and a Dyson with its patented Root Cyclone(tm) technology.
Title: Re: 2013 Tax Season
Post by: Norgy on April 16, 2014, 04:08:21 AM
Quote from: CountDeMoney on April 15, 2014, 10:37:30 PM
I took the tax dollars I stole from him and gave it to Planned Parenthood.  Abortions on me, ladies!

:lol:
Title: Re: 2013 Tax Season
Post by: garbon on April 16, 2014, 10:38:36 AM
:hmm:

http://act.one.org/sign/fy15_budget
Title: Re: 2013 Tax Season
Post by: Grey Fox on April 16, 2014, 10:41:11 AM
There is an american lobby that lobbies to give MORE money to foreigners?


:lol: :lol:
Title: Re: 2013 Tax Season
Post by: garbon on April 16, 2014, 11:07:40 AM
Well I think it is an international group focusing on reducing poverty, disease in countries like Africa.

Presumably said link is not for people who are angry about money going overseas. :D
Title: Re: 2013 Tax Season
Post by: Baron von Schtinkenbutt on April 16, 2014, 04:50:20 PM
Quote from: Admiral Yi on April 15, 2014, 04:41:58 PM
I let my checking build up until it hits $7K, then peel off five grand and throw it at an investment.

I have a weekly skim into my Vanguard account.  Its building a nice reserve and helping me put the screws on day-to-day spending.
Title: Re: 2013 Tax Season
Post by: The Brain on April 17, 2014, 11:45:33 AM
I just did my taxes.  :)
Title: Re: 2013 Tax Season
Post by: Phillip V on April 27, 2014, 08:24:14 AM
Quote from: Admiral Yi on April 13, 2014, 04:29:03 AM
Quote from: Phillip V on April 12, 2014, 10:57:15 PM
Filed today. Anybody use that Amazon e-giftcard offer from TurboTax? I just gave them $1100 of my federal refund in return for a future $1210 e-giftcard. :huh:

Sound like a crap deal to me.  Can you really spend that much at Amazon?
I bought and received yesterday an electric lawn mower ($215) from Amazon.
Title: Re: 2013 Tax Season
Post by: Admiral Yi on April 27, 2014, 08:44:06 AM
You should have bought six.
Title: Re: 2013 Tax Season
Post by: MadImmortalMan on April 27, 2014, 06:46:54 PM
All my friends in Seattle have been using the Amazon Fresh service recently. It's being piloted there and in San Fran. Basically, they put in grocery orders before they go to bed and the stuff is on the doorstep when they wake up.

A grand is several months worth of groceries.
Title: Re: 2013 Tax Season
Post by: viper37 on April 28, 2014, 05:18:27 PM
4.98$ tax return from the provincial government.  I'm rich!!!