TAX DEADLINE APPROACHING!

Don't forget the deadline to file your tax returns is April 18th this year...they gave you an extra weekend to get your taxes in this year...

You do have the option to extend your tax return if you need more time to file...see form here

Just remember, if you extend, that doesn't mean your time to pay taxes is extended...if you will have a balance due on your tax returns you will need to make a tax payment with your extension to avoid penalties and interest being charged on your account..


If you have any questions, feel free to shoot me a pm or post on here...I'm working on getting as many of my clients done as we speak but I will definitely try to led a hand where I can...If i can't answer a question specifically, I might at least know a good source where you can read up on to form your own opinion...


and if you're expected a refund...why did you wait this long!!!!! you're truck needs new mods ASAP!!

 

I had an accountant do mine this year. Got a letter from the IRS saying they found a mistake and were correcting it for me. I expected to take a hit...but then got the check. The IRS GAVE ME 900 bucks more than we filed for! Sure didn't expect that!

 

thanks for the heads up! i thought for sure I was going to owe for last year. luckily I played everything right with my 1099 and other job that I am getting some back! WOO!

 

oh wow...someone was looking down on you for that....almost unheard of that the gov't would come back saying that they owe YOU money

receiving 1099s are tough if you don't plan ahead for sure...glad to hear your tax planning paid off

 

bump for morning reminder

 

Taxes? Taxes? We don't pay no stinking Taxes!!!!!!

Ony foolin, We pay and pay.

 

yeah they are. I had to pay 1k in taxes in 09 because I didn't know (work never told me). luckily I don't have to worry about that form for this years work.

 

another issue that some of my friends in the restaurant/bar industry had was their employers reporting their tips as wages, but not taking any withholdings out to offset the tip income...

so if you are in the industry and have this happen, it maybe worth making some tax deposits throughout the year to help ease the end of the year tax payment to cover the tip wages..or put some money into a savings account for the year end tax payment, but a problem arises when your tax liability is large enough to trigger a penalty on not making estimated payments ("Estimated Tax Penalty" Form 2210)

 

Done banked biggest return ever! Stupid, especially in this economic faunk we find ourselves in about now. Not sure how but OK, done. Good luck everyone...........

 

My wife is an accountant, ours have been done since early February.

 

mine was done on Feb. got a fat refund.....wifey has my refund

 

I owed last year.....first time ever for that nonsense. Hoping it ain't happening this year. Finishing taxes up here in a couple hours and getting them sent out.

 

in the end, owing isn't a bad thing as long as it's <$1,000 to avoid penalties....my theory is...would you rather give the government your money to hold onto and pay you zero interest? or hold on to your money to use as you please and even invest to make interest and pay the same amount you would have throughout the year in April? keep in mind you have to keep your taxes owed within that $ limit so you don't pay interest.

but getting a chunk of money back that you paid no attention to throughout the year is a great feeling...but ideally, you'd want to shoot for a zero refund/zero owed