Happy days are here again.!!!

[Zeldman]

Last week my accountant told me that I owed a little over $17,000 in taxes for 2018. Man, that can't be right..... I have really been stressing out over this....

For the last 4 days I have been going over everything again, and again and again....

He finally found where a wrong code letter was put in one of the boxes, now I am getting a small refund.!!! Man, thousands of pounds of stress has just been lifted off my shoulders..!!!!

I might have to fire my accountant.

(I do my own taxes...)

 

[FormerHangie]

I thought you were talking about the television show. I was thinking that it had jumped the shark long ago.

What code letter/box could make that big of a difference?

 

[Half Fast]

Does that count as a stress test for your next medical?

 

[Kenny Phillips]

Last week my accountant told me that I owed a little over $17,000 in taxes for 2018. ...Man, thousands of pounds of stress has just been lifted off my shoulders..!!!!

Approximately £12924.12 lifted off your shoulders. I used to do my own taxes, as well, but as it became ever complicated, it's worth a few grand to never have anything due on 15 April (and no refund, if possible, as the gov't doesn't pay the highest interest rate!).

 

[EdFred]

Complicated? This year was the easiest year I've had, and I have more investments than ever previously. W-2 plus all my 1099s/other statements. Add em up. Knock $12,000 as a standard deduction. Subtract what I paid in. Done. Literally 5 minutes.

 

[Zeldman]

I thought you were talking about the television show. I was thinking that it had jumped the shark long ago.
What code letter/box could make that big of a difference?

Yeah, I have always wanted to water ski in a leather jacket....

I have investment income and I use that income entirely for building my retirement nest egg. Apparently I clicked on the code for taxable income instead of deductible retirement investment, or something like that. Anyway I am feeling a lot better now. My dad taught me to invest a little of every paycheck. I didn't see that as a teenager, but I am sure seeing it now.

I used to do my own taxes, as well, but as it became ever complicated, it's worth a few grand to never have anything due on 15 April (and no refund, if possible, as the gov't doesn't pay the highest interest rate!).

That is my goal, to break even, nothing to pay in and very little return. My accountant told me that this year would be easy so I talked myself into doing it on my own. I'll probably go back to him for this tax year. Trying to save a few bucks caused too much agony..

.

Complicated? This year was the easiest year I've had

I didn't say it was complicated. And it really wasn't that bad once I started over. And I found my mistake by wiping the slate clean and starting over. I have enough deductions that makes itemizing better for me, and I found another 4500 in deductions when trying to find out what went wrong. Bonus.!!

 

[FormerHangie]

Yeah, I have always wanted to water ski in a leather jacket....

I have investment income and I use that income entirely for building my retirement nest egg. Apparently I clicked on the code for taxable income instead of deductible retirement investment, or something like that. Anyway I am feeling a lot better now. My dad taught me to invest a little of every paycheck. I didn't see that as a teenager, but I am sure seeing it now.





That is my goal, to break even, nothing to pay in and very little return. My accountant told me that this year would be easy so I talked myself into doing it on my own. I'll probably go back to him for this tax year. Trying to save a few bucks caused too much agony..

.

I didn't say it was complicated. And it really wasn't that bad once I started over. And I found my mistake by wiping the slate clean and starting over. I have enough deductions that makes itemizing better for me, and I found another 4500 in deductions when trying to find out what went wrong. Bonus.!!

I started my first IRA at age 24, I like where we are now. I told both of my daughters as soon as they have a significant amount of W-2 income I'd match the first $2000 they made and put it in a Roth IRA. For the older one it will be this summer, when she is 19, and for they younger one I suspect it will be next summer, when she is 18.

 

[EdFred]

I didn't say it was complicated. And it really wasn't that bad once I started over. And I found my mistake by wiping the slate clean and starting over. I have enough deductions that makes itemizing better for me, and I found another 4500 in deductions when trying to find out what went wrong. Bonus.!!

I was replying to Kenny on the complicated part. What made it so easy for me was I don't have enough things to itemize. State tax, property tax, and license plates is all I've got. That came up short of the 12k in my case.