Taxes! Taxes! Taxes! Last Minute Filing.

I can't stand to put things off 'till the last minute, so I got my taxes done early. I beat the deadline by a little over twenty-four hours. /ubbthreads/images/graemlins/rolleyes.gif

I do have a reason for waiting to file. I owed. Uncle Sam took quite a chunk; and the state of Oregon didn't do too shabby either.

I wonder how many wait until near the deadline because of owing.

It makes good business sense to do your taxes early but wait until last minute before filing if you owe. No sense giving Uncle Sam money you could be earning interest on. It also makes sense to not have so much withheld that you get a refund every year as that represents an interest-free loan to the government. If fact, it's better to owe them something (but not so much that you pay penalties).

Here's hoping that one day the income tax is replaced by a sales tax. Having to file each year adds insult to injury.

I think at least we should change the date of all major elections from the first Tuesday in November to the first Tuesday after April 15.

It would sure help us with our decision making if we were doing our taxes while we were listening to the debates and last minute campaigning...

Just finished mine /ubbthreads/images/graemlins/broke.gif /ubbthreads/images/graemlins/Christo_pull_hair.gif

I always wait til the end because I always have to pay.
/ubbthreads/images/graemlins/rant.gif /ubbthreads/images/graemlins/rant.gif /ubbthreads/images/graemlins/rant.gif

(I think there should be a credit for flashlights!)

or in my case, a last minute extension /ubbthreads/images/graemlins/grin.gif

I've owed money almost every year which just sucks. The last 2 years however we've somehow been paying in too much and are actually getting money back again..

I've been paying a CPA to do our taxes the last 2 years since we were both working and it's worth any amount of money not to have to do it myself. Worth every penny! Made me sick to my stomach filling things in not having a clue if it was right or not half the time.

Nerdgineer-your idea is too good to ever be implemented!Another good date for elections would be the first Tuesday after tax freedom day.

Received my refund today....April 15th

Direct deposited...I'm off to BST to spend it now!

Just put my check to the IRS in the mail about 30 minutes ago!

I'm lucky in that I don't have to file taxes or pay them every April 15.
My gross annual income is ~$5,000.00 so it falls below the minimum taxable income.
April 15 therefore means nothing to me. /ubbthreads/images/graemlins/smile.gif

In Canada we get until April 30th to file /ubbthreads/images/graemlins/smile.gif

But that's just because we pay more taxes so
it takes longer to figure them out /ubbthreads/images/graemlins/frown.gif

In any case, I did mine (an my wife's) a few
weeks ago.

Greg

[ QUOTE ]
The_LED_Museum said:
I'm lucky in that I don't have to file taxes or pay them every April 15.
My gross annual income is ~$5,000.00 so it falls below the minimum taxable income.
April 15 therefore means nothing to me. /ubbthreads/images/graemlins/smile.gif

[/ QUOTE ]

If you've paid income tax on any of that $5000, you can get it back by filing. You don't have to file, but it might be worth crunching the numbers to see if you're owed anything.

crap my family's tax rate came out to just over 28% (after deductions) for all of the federal taxes (Income, SS and Medicare). Now I am to afraid to figure out my total tax rate to include taxes on gasoline, property, sales, school and etc. It boogles the mind.

My father passed away last year, prior to April 15, and I paid a CPA to file his taxes. Believe it or not, I have to file for him again this year! (Last minute extension filed!) New meaning to the expression "death and taxes!" /ubbthreads/images/graemlins/rant.gif

Larry