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Tax return....

quiller

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Cue the "government loan" posts in 3....2.....

$1911 is abnormally high for a MA refund however, did you pay too much on your ES taxes?
We readjusted last year as my better 1/2 went from a good paying full time to a few part time gigs. So we wanted to make sure we came out on top. Next year will be closer to zero!
 

Mark from MA

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First year with only one in college made more than last year and paying in 1800 net after the state gives me back 500.

I need to do a little digging to see if I can evven things out.
 

quiller

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I just finished my taxes 2 minutes ago. Thanks to corona and the State, I am getting less than I should have. If I ask for taxes to come out of unemployment you'd think they would take out enough to pay the f***ing taxes.
Paying tax on unemployment is like getting raped with a dildo bound with barb wire.....make zero sense....but it is .gov we are talking about!
 

Asaltweapon

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It's a riot when people compare refunds. Like comparing apples to asparagus.

The best refund is NO refund, owing $1,000 or less is the winner's plan.
I love asparagus and it makes my pee stink.
Apples? Not so much.

Still waiting on a K1 but I just put all the paperwork into an envelope that's heading to the bean counter today as he asked to get a head start on them.
 

snax

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I did mine using online software. First year in a long time I didn't have all kinds of complicated stuff. Cost me $60.
The accountant bill kept creeping up every year. used to cost $125-150, it was pushing past $400 last year.
That's a little steep for one 1040 with a schedule C. I don't even have itemized deductions anymore.
When I had two businesses and a rental property they were charging me about 250. More deductions, more forms.
Seems like their country club membership fees went up so they had to pass that cost on.
Having a $75K Escalade parked out front isn't good optics either.
I'm all for supporting small business, and I'd rather have a local guy do it, but.. come on that's wallet rape right there.
 

DaveL.

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It's a riot when people compare refunds. Like comparing apples to asparagus.

The best refund is NO refund, owing $1,000 or less is the winner's plan.

Owing any amount of money so long as you fall under safe harbor and have the cash available to pay your taxes is the winners plan.
 

RumRunner

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I did mine using online software. First year in a long time I didn't have all kinds of complicated stuff. Cost me $60.
The accountant bill kept creeping up every year. used to cost $125-150, it was pushing past $400 last year.
That's a little steep for one 1040 with a schedule C. I don't even have itemized deductions anymore.
When I had two businesses and a rental property they were charging me about 250. More deductions, more forms.
Seems like their country club membership fees went up so they had to pass that cost on.
Having a $75K Escalade parked out front isn't good optics either.
I'm all for supporting small business, and I'd rather have a local guy do it, but.. come on that's wallet rape right there.
Did the same a few years ago, mine were getting to be around 350 and were getting easier every year. Used to always do my own, then for a few years with a business and rental decided to hire out.
 

Rockrivr1

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Getting around $200 back from the State. Similar to what I got last year. It always pisses me off when I have to pay taxes to the state for an over taxation refund from the state from the year before. Basically taxing me for money they shouldn't of had in the first place.

Yeah, I know. I need to work out a tax amount so I don't overpay the gov't.
 

Junior314

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Take your refund divide how many paydays and that’s how much extra you could have in your paycheck each month. If you have a CPA do your taxes they should be able to tell you what adjustments to make to your with holdings.

If your company has competent payroll/HR folks they should be able to help you too.
 

quiller

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Take your refund divide how many paydays and that’s how much extra you could have in your paycheck each month. If you have a CPA do your taxes they should be able to tell you what adjustments to make to your with holdings.

If your company has competent payroll/HR folks they should be able to help you too.
Yup, going to talk to our tax guy....
 

amm5061

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I never get as close to winning the zero-sum game with MA as I do with the feds. Last year was my best year yet; I owed the IRS $1. Usually I get about $50-75 back from the state.
 

jaypap

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Just did my taxes and my Commichusetts return is 1911! Be nice if I could get a 1911 with it!

That would be enough of a sign from JMB and God to treat myself to a nice hunk of series 70 carbon steel. Oh, and an iced coffee from Mary Lous.

I got a Covid bonus last year $1911.00, you know I bought one. The only good thing I have to say about the Chinese gift.
 

fshalor

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It's a riot when people compare refunds. Like comparing apples to asparagus.

The best refund is NO refund, owing $1,000 or less is the winner's plan.
Turbo tax royally screwed up a few years ago, I didn't catch it and ended up owing 2k more than planned. Employer next year screwed up withholding and managed to repeat the oppsie.

We will owe a bit this year, under $2k, but I'm guessing with the Rona Checks, will end up being right at 2. Already prepaid what I can confirm we owe until I finish the paperwork next month.

Never trusting a service again. Used them last year for a calculation, but didn't file with the service. Did calculations by hand and compared.
 
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