The Tax Man Cometh...

[EnigmaticParadigm]

Well, tomorrow is the tax deadline. Post your refund bliss or payment horror. Personally, I screwed myself by not having enough write-offs and limiting my monthly contributions.

In short, I owe ~$6,000.00 to the Feds and State combined.

Woopsie.

But, on a positive note, I learned some simple things to do for next year to make things a little easier. Win some, lose some.

[joz123]

I got 500 back.

[Elurin]

Getting about $1000 back. Had we tossed about $300 into an IRA, we could've deducted another $500 (gain of $200 on our refund, net of $500). But that seemed like a hassle!

[ashatumar]

I have the joy of filing two state, one federal, 5 w-2s and a 1099 that needs to be broken up across two states.

[Etoille]

2 states, 1 federal, 2 w-2's, bought a house, moving expenses and student loans......

[Tolanin]

If you manage your money properly its better to owe them than for them to owe you... if you dont and then are crunched at the end then that kinda sucks, im glad i dont deal with taxes.

[AladainAF]

I got a tiny amount back, and no state income tax here.

[Zeste]

Originally Posted by EnigmaticParadigm

Well, tomorrow is the tax deadline. Post your refund bliss or payment horror. Personally, I screwed myself by not having enough write-offs and limiting my monthly contributions.

In short, I owe ~$6,000.00 to the Feds and State combined.

Woopsie.

But, on a positive note, I learned some simple things to do for next year to make things a little easier. Win some, lose some.

I'm paying $9000, but my business did about 90,000 last year and I didn't save 1 cent for taxes, so it's my own fault. I wrote off probably 50k, but as a LLC and as the owner/sole employee, I still gotta pay it.

I filed an extension.

[Vatoreus]

I got about 3000 back

[Fammaden]

I'm paying about 2k. Got in the 10% capital gains bracket, but made just a bit too much for the full economic stimulus benefit. What sucks is after I refinanced my mortgage the new bank fucked up and didn't pay my property tax out of escrow like they were supposed to until after 2008 hit and the county sent me a late bill prompting me to call up and say WTF! So even though it was their fault they said they can't give me credit for it on 2007 taxes since it was paid in 2008. But next year I can claim two hits of property tax. I could have used it more for 2007 though, and I don't forsee selling any stock in '08, but at least I should owe less next time around.

I probably did shit worse than I could have all over the place, but the checks are in the mail now. I always get raped by the state in comparison to what the fed takes too. Anyone else who tends to owe find that is the case? Or are some states lighter than feds? I know there is the odd state here and there with no income tax in the first place (Delaware and Alaska come to mind), but I was wondering if state taxes tend to be worse than federal across the board since I have only ever claimed in this state.

[Brikker]

My mother-in-law apparently got $100,000 refund (with her husband).

[Waedar]

i owe $15 to the govt simply because they say the overpaid me last year. went full time student this year and am dependent so my only income was from the stupid letter they sent me :-/

[Ashes Emberblade]

Originally Posted by Fammaden

but I was wondering if state taxes tend to be worse than federal across the board since I have only ever claimed in this state.

My state income taxes are a bitch too. It seems like they count several things as income that the IRS doesn't and allow fewer deductions.

I also did my taxes in late January. I can't stand to procrastinate on them. Got a $2k refund because I invested a shitload in property tax liens. Wrote off most of my income.

[Blumpster]

Sublet, grow weed, sell it. Who needs to deal with this taxes bullshit?

[Awanka]

I'm getting some $2800 back.

I need to move to Texas. State tax in CA is bullshit.