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YOUR BALANCE
Income Taxes, Part 2
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Income Taxes, Part 2


Apr 12, 2019, 10:19 AM

I did my taxes 3x last night, on 2 different products. I noticed that because my wife has a 1099..there is nothing "free free free free or free" about Turbotax, because the basic version won't deal with 1099's. At all. So you have to pay $59.99 -federal, and 49.99 for state. With that product, I can itemize, but it doesn't matter because no matter what I do I can't beat the standard deduction.

So then I tried Credit Karma, and started with married filing separately just to see if i could lower my tax burden. I kinda gave up with that when it said I'd owe $15K federal and $975 to state. I tried to change it back to married filing jointly, and it completely lost its ####, now saying that I was getting a refund because it dumped half of our W2's and her 1099. I started to redo it, but it was 1 am and I went to bed. I figure I'll see where Credit Karma comes out married filing jointly and just use that. Either way, I'm mailing that #### in. F them and their e-file. They'll get it when they get it.

And I got to wondering about this...why do I have to enter all that information from my W2's in anyway? If I can only use a standard deduction (and I don't know how a private individual could itemize now as no deductions are allowed), they already have all that information. Why not just do all that crap for me and send me the bill? I spent 3 hours getting Goodwill donation amounts together, the value of my HSA on 12/31/18, and my mortgage principle on 1/1/19, adding gas electric and house maintenance to itemize my home office expense for a 1099..and it all was pointless.

And I pity anyone that didn't have health insurance. My wife didn't have insurance between jobs last year for 2 months--and that was $566 fine (I guess) that went right to the bottom line that I owe.

I never thought I'd say this, but next year White house, how about no more "tax cuts"? This crap of a tax cut, then taking away all my deductions has really screwed me. We made $2k less than last year, and owe $7K more. I don't know how most folks can do this. I save pretty well and am able to pay it up front, but I wouldn't think a lot of folks have $5 just laying around to send to the government for absolutely nothing.

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I think the only real way around all of that would be to


Apr 12, 2019, 10:28 AM

to renounce your citizenship, move to Mexico, then come back across the border later in the year seeking asylum. Pretty sure you can get all the benefits without having to pay anything if you work it that way.

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Funny you mention that.


Apr 12, 2019, 10:36 AM

We briefly talked about that last night.

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and free healthcare and an army of personal


Apr 12, 2019, 11:25 AM [ in reply to I think the only real way around all of that would be to ]

advocates in the form of Democrat Party

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Thank you for paying your fair share.


Apr 12, 2019, 10:31 AM

That is what you get for being rich.

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This is rich?


Apr 12, 2019, 10:37 AM

Thats fscking sad.gif

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Yep. I mean, with that kind of tax bill on top of


Apr 12, 2019, 10:44 AM

doing 0 on the W4, something is going wrong. You should probably have accountants to help hide that money.

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I'm wondeing if something is wrong with my withholdings


Apr 12, 2019, 10:45 AM

I looked at what I paid in taxes last year as compared to 2017, and its a lot less. I don't feel like I got any of that money, but the withholdings were less.

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Sounds like you need some more dependents


Apr 12, 2019, 10:38 AM

I know a woman who has a file cabinet full of social security numbers

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I like your funny words magic man


I wonder if i could claim my dogs?


Apr 12, 2019, 10:42 AM

I mean they are kind of a PIA sometimes, ad we can't leave home for more than about 6-8 hours without having to deal with them. They eat more expensive food than I do. Sometimes they kinda seem worse than kids would be.

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We had a guy around here who would


Apr 12, 2019, 10:43 AM

claim his hunting dogs.

Then they started using SS# and he had to stop

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I like your funny words magic man


I could definitely go without having dogs for a few years***


Apr 12, 2019, 11:02 AM [ in reply to I wonder if i could claim my dogs? ]



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When ours die off


Apr 12, 2019, 11:02 AM

I think i'm going to try it for a while.

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I quit taking mine on the boat, it’s decreased stress


Apr 12, 2019, 11:07 AM

And the amount of cleanup exponentially, thus increasing my enjoyment/happiness. I can only imagine how awesome not having them at the house would be like. Magical, I have to think.

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The Golden tumbleweeds we have to vacuum are considerable


Apr 12, 2019, 11:11 AM

And all the walls and baseboards need to be repainted, 2 years into a new house.

It would be nice sometimes to open a door and not have to worry about a dog bolting outside and getting run over by people hauling ### up and down my street.

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fencing in our yard has helped with that


Apr 12, 2019, 11:39 AM

Of course, my wife thinks they've died or something if they're outside for more than 15 minutes at a time, so they don't stay out for long clips at a time.

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ain't nothin magical about not having a dog. no kids, maybe.


Apr 12, 2019, 11:21 AM [ in reply to I quit taking mine on the boat, it’s decreased stress ]

I could've handed off our middle child a few times. Once I got so sick of her slamming doors, I told her I the next time I was taking it off the hinges. Of course, she was, "Oh yeah?" and I was, "yeah". I don't think I ever saw here any madder than when she had no door on her bedroom.

But I can't imagine not having a dog. Or two.

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I've got dog fatigue, I just need a break


Apr 12, 2019, 11:37 AM

Mine don't ever let me sit down undisturbed for more than 5 minutes. They bother the #### out of me, I have no idea what it is. They'll let my wife nap for 3 hours on the couch, but I can't watch 45 seconds of a TV show without them driving me nuts. One wants to go outside, then she gets outside and starts barking at everything. The other thinks he's a 140 pound lap dog who needs constant attention.

Just kind of over it, quite frankly. I keep joking about it, but I think I'm probably a lot closer to abandoning my family and moving to the Keys than I want to admit.

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I used to wonder how people could do that.


Apr 12, 2019, 11:44 AM

I think i get it now.

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Re: I've got dog fatigue, I just need a break


Apr 12, 2019, 10:24 PM [ in reply to I've got dog fatigue, I just need a break ]

Do it man! I'll bring my boat and fishing gear. We'll have a great time!

Already got rid of my pets and girlfriends. Dogs got old and died...RIP. Girlfriend just too much drama.

Got to go to Rockies in summer though. Don't want to overheat.

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I've been using TurboTax for Business for many years.


Apr 12, 2019, 11:02 AM

This year it generated a boatload of new forms/schedules that I have not seen in the past. And it generated a complete federal filing to attach to my Virginia filing. Don't know why. My total pages printed for federal and state filing is 63 pages, minus a few for my quarterly estimated tax forms. Being self employed is awesome at tax time. But I qualify for the new 20% Qualified Business Income Deduction, which is pretty dang sweet. Thanks, Trump!

And for those who can still itemize, I highly recommend the It's Deductible site, a free service that connects to TurboTax. You can enter and price a list every time you take stuff to Goodwill, or wherever. I learnt I was pricing a bag of women's clothes way too cheap. And then you uploaded to your TurboTax Schedule A, and it's done.

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I've used that in the past to justify donations to Goodwill


Apr 12, 2019, 11:08 AM

This year it didn't matter, because i couldn't use any of that as a deduction. So really, paying for the "plus" version of TT is kinda dumb, at least for me.

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yep the Qualified Business Income Deduction is


Apr 12, 2019, 11:21 AM [ in reply to I've been using TurboTax for Business for many years. ]

the best thing to happen to the tax code in years

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worked out well for me. I made 25% more but taxes only went


Apr 12, 2019, 11:18 AM

up by 9.6%.

The Qualified Business Income Deduction and the Child Tax Credits went along way to making this happen.

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I could see that.


Apr 12, 2019, 11:47 AM

Add in another 5-10K worth of deductions, and I'd be OK. At this point though, they legitimately could just send me a bill.

I basically have one deduction. Now I have to start saving for next years taxes that I "underpay".

If the middle class is disappearing, taxes are a big reason why.

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I agree. I would exempt the first 200k of household income


Apr 12, 2019, 1:26 PM

if I were in charge. and I would eliminate any and all deductions, credits etc.... for income over that. all income would be treated the same and taxed at the same level. in other words, a true, clean flat tax for all income over $200k

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Did your witholdings adjust?


Apr 12, 2019, 12:48 PM

Or are you actually bottom line paying $7k more? You probably paid less in taxes per check than prior years so that's why you 'owe' more now

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yep


Apr 12, 2019, 1:30 PM

https://www.tigernet.com/forum/message/Im-wondeing-if-something-is-wrong-with-my-withholdings-25319256

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thread to long for a knee replacement survivor but


Apr 12, 2019, 6:18 PM

you shouldn't be having a penalty for no insurance
the mandate was done away with

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Re: thread to long for a knee replacement survivor but


Apr 12, 2019, 6:55 PM

henry® said:

you shouldn't be having a penalty for no insurance
the mandate was done away with




It goes into law after this year so he want have to pay next year. I count myself single on all of my checks but I still came up owing the most I have ever owed. It just me and the wife so we did not have any other deductions.

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we were not required to provide proof of insurance


Apr 13, 2019, 3:33 PM

this year neither was daughter who is on our insurance cause under 26

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