2008 Taxes

01/23/2008 9:08 pm
Rate this Blog
Yours:

Rated 0 times.
Sarah, the resident tax expert. If I lived in Wisconsin from January 1 until May 20th, and earned income In Wisconsin during that time, do I need to file a tax return for the state of Wisconsin?
scott.jpgScott - 6225 Posts
01/23/2008 @ 09:12:28 PM
 Quote this comment
I think I already found my answer, but I just started the official tax thread for 2007 taxes.
Rate this comment
Yours:

Rated 0 times.
jon.jpgJon - 2847 Posts
01/23/2008 @ 11:39:55 PM
 Quote this comment
Scott Wrote - 01/23/2008 @ 09:12:28 PM
I think I already found my answer, but I just started the official tax thread for 2007 taxes.


Yes but you gave it the odd name of 2008 taxes.
Rate this comment
Yours:

Total:

Rated 2 times.
sarah.jpgSarah - How do you use these things?
01/24/2008 @ 06:35:48 AM
 Quote this comment
Yea, you have to file a part time/non resident return and fill out a legal domicille questionnaire that asks you if you plan on moving back, when you got a license in the new state, when you registered to vote, etc. They'll tax you on your WI income. You don't have to pay state taxes in FL, ya lucky! Although you have those ridiculous tolls, but WI has one of the highest state income tax rates, so it may be a toss up as to which one sucks more tax wise.
Rate this comment
Yours:

Rated 0 times.
vignette.bmpCarlos44ec - 2078 Posts
01/24/2008 @ 07:48:48 AM
 Quote this comment
I hear locals know the way around the tolls, is that true?

I also will have split state taxes- I moved to MN in late Jan. I do the same thing, right?
Rate this comment
Yours:

Rated 0 times.
jeremy.jpgJeremy - 8953 Posts
01/24/2008 @ 09:55:48 AM
 Quote this comment
I don't think the locals do. I'm sure from time to time they know ways to get around one at the beginning or end of their trips, and likely know how to avoid them driving around town doing errands and whatnot, but otherwise I highly doubt they reroute trips just to avoid $.75.

I think Becky said she pays like $10 in tolls to and from work. (I don't remember the amount, but I remember being pretty surprised how high it was and responding something like "Wow, that's a legitimate weekly expense")

Edit: Lets say I-94 had tolls every few miles, as a "local" and person who travels between Eau Claire and MN a lot you could learn when to turn off when to get back on, where to take back roads, ect. You wouldn't do this because your trip would take much longer and the extra ground you covered used $7 worth of extra gas.

Edit 2:Well Scott had to go and make me look like a fool. I guess it would come down to how long your trip is and what you're doing. Take my above example and scale it down and say Clairemont had tolls every mile. As a local to Eau Claire you could probably get around town just fine almost always avoiding the tolls. Now you're talking an extra couple minutes, which might be worth it. I wouldn't hop on Clairemont on my way to work to go a few blocks on it knowing there's a toll along my path.
Rate this comment
Yours:

Rated 0 times.
Jeremy screwed with this 4 times, last at 01/24/2008 10:34:31 am
scott.jpgScott - If you aren't enough without it, you'll never be enough with it.
01/24/2008 @ 09:57:19 AM
 Quote this comment
It is really easy to avoid the tolls. Just don't take the roads that require a toll. The only time I ever end up on a toll road is when I purposely go a way that requires a toll. Either way, in and around Tampa the tolls are usually around $1, maybe $1.50.

I've probably spent a total of about $10 total on tolls the entire time I've lived in florida, which is about 8 months so far.

And for the record, my commute to work is about 23 miles, mostly on the freeway (about 45 minute drive with the traffic).

Edit: I'm actually on 3 different freeways on my way to work. I-75, I-4, and I-275. My route does not really contain any areas where I would even need to avoid a toll. I would be going out of my way to find a road that has a toll.
Rate this comment
Yours:

Rated 0 times.
Scott screwed with this 2 times, last at 01/24/2008 6:18:04 pm
flower .jpgPackOne - 1528 Posts
01/24/2008 @ 06:04:56 PM
 Quote this comment
I am currently hiring for the following temporary positions. Someone to do/help with taxes. I opened a business for two quarters then closed it so I'm lost this year. Also hiring for a temporary stats tudor for 8 weeks starting in March. Both positions are paid and salary is negotiable. Who's broke? Who's got the credentials?
Rate this comment
Yours:

Rated 0 times.
vignette.bmpCarlos44ec - "Always remember that you are unique. Just like everybody else."
01/24/2008 @ 07:30:34 PM
 Quote this comment
i'll do your taxes, but I won't be responsible for your failed audits. I charge- one iPod Touch 16gb please.
Rate this comment
Yours:

Rated 0 times.
avatar2345.jpgPackOne - The Harvard comma's #1 fan.
01/24/2008 @ 07:44:15 PM
 Quote this comment
If that is the bar, I'll just turbo tax 'em again. Of course, I won't have the time to post on nutcan for awhile. Let the plethora of five nutters begin.
Rate this comment
Yours:

Total:

Rated 1 times.
2887.gifAlex - 3618 Posts
02/03/2008 @ 03:35:03 PM
 Quote this comment
Should I need to fill out the form for Wisconsin Alternative Minimum Tax? I'm finding TaxCut to be quite confusing in regards to this. Why is it asking me if I need to do this, can't it figure this out automatically?
Rate this comment
Yours:

Rated 0 times.
sarah.jpgSarah - 4091 Posts
02/03/2008 @ 04:09:40 PM
 Quote this comment
I highly doubt you're in WI AMT. Most people aren't. And most people don't need to fill out the form. I wouldn't fill it out. Unless you own some partnership/s-corps that I am unaware of that have large dep WI AMT preferences or such.
Rate this comment
Yours:

Total:

Rated 1 times.
newalex.jpgAlex - 3618 Posts
02/03/2008 @ 05:01:08 PM
 Quote this comment
Sarah Wrote - 02/03/2008 @ 04:09:40 PM
I highly doubt you're in WI AMT. Most people aren't. And most people don't need to fill out the form. I wouldn't fill it out. Unless you own some partnership/s-corps that I am unaware of that have large dep WI AMT preferences or such.


That's kind of what I was thinking, but I wasn't sure. Thanks.
Rate this comment
Yours:

Rated 0 times.
sarah.jpgSarah - 4091 Posts
02/03/2008 @ 05:04:34 PM
 Quote this comment
Sarah Wrote - 02/03/2008 @ 04:09:40 PM
I highly doubt you're in WI AMT. Most people aren't. And most people don't need to fill out the form. I wouldn't fill it out. Unless you own some partnership/s-corps that I am unaware of that have large dep WI AMT preferences or such.

by dep i meant depreciation, apologies if anyone didn't know what i was talking about.
Rate this comment
Yours:

Rated 0 times.
face.bmpCarlos44ec - 2078 Posts
02/03/2008 @ 05:12:40 PM
 Quote this comment
yeah, but do you know what EBTDA is?
Rate this comment
Yours:

Rated 0 times.
sarah.jpgSarah - How do you use these things?
02/03/2008 @ 05:29:39 PM
 Quote this comment
I do now. Go Super Bowl!
Rate this comment
Yours:

Rated 0 times.
vignette.bmpCarlos44ec - 2078 Posts
02/03/2008 @ 05:31:15 PM
 Quote this comment
actually, I had wondered if it was just a term our Corp used or if it was real. Interesting.
Rate this comment
Yours:

Rated 0 times.
face.bmpCarlos44ec - A Vote for me is a Vote against Terrorism! ...or atleast just wasted.
02/09/2008 @ 04:27:49 PM
 Quote this comment
I just got off the phone with HR Block, and asked them about scheduling an appointment to get my taxes done. I have two state returns, and of course one federal. Partial Wisconsin (1 month) and Minnesota (11 months). I asked the guy to estimate what it would cost to do that, and he said it could be as much as $300.

$300?!? Is that crazy, or accurate? for that kind of money I could almost sit here and figure it out (TaxAct) although I would greatly fear screwing it up and having to pay.

Can a poor man get Sarah's wisdom on what is best?
Rate this comment
Yours:

Rated 0 times.
sarah.jpgSarah - 4091 Posts
02/09/2008 @ 06:40:09 PM
 Quote this comment
Your return is probably pretty easy except for the 2 state thing. That's about what people charge for returns. Sorry man, but that's about what it costs unless you want to do it yourself. If you feel ok about doing your return yourself, I would go for it, it's just a matter of getting the part year resident thing correct, and if you can get that with your software or if you have to do it by hand.
Rate this comment
Yours:

Total:

Rated 1 times.
vignette.bmpCarlos44ec - 2078 Posts
02/09/2008 @ 08:14:51 PM
 Quote this comment
I had a pretty good go at it with the software, I just want to make sure it's correct. It shouldn't be that hard, actually, since two entire W2s are Wisconsin and two are Minnesota. I can do the math, its not terribly difficult. I'm going to have two good sized cups o' coffee and spend some time in front of the browser, nifty little excel chart on the side, and it's tax time baby!

Thanks for the help- heres a five nutter for your troubles.
Rate this comment
Yours:

Rated 0 times.
scott.jpgScott - 6225 Posts
03/02/2008 @ 08:17:01 PM
 Quote this comment
Am I the first NutCanner to submit their taxes? I just e-filed my federal, and apparently Wisconsin requires non- or part-year residents to mail their taxes in. Either way, I'm getting a refund on the big fat tax free loan the federal government took from me over the course of 2007, so I'm pretty happy about getting the money. Plus now the government knows where to send that economic stimulis check.
Rate this comment
Yours:

Rated 0 times.
hoochpage.JPGSarah - 4091 Posts
03/03/2008 @ 06:06:44 AM
 Quote this comment
Way ahead of you, we got our WI refund back last week. (gotta love the e-file/electronic deposit) WI might be fixing that soon so that non/part year can e-file, but it might not be for awhile, it's hard to say with WI.

Maybe you should change your exemptions/withholding amounts so the government doesn't get a big loan from you for 2008? Just make sure you don't overdo it so that you have enough withheld. (110% of Prior Year tax or 90% of Current Year)
Rate this comment
Yours:

Rated 0 times.
Sarah edited this at 03/03/2008 6:10:53 am
face.bmpCarlos44ec - 2078 Posts
03/03/2008 @ 08:15:04 AM
 Quote this comment
I did my taxes on President's day.

Check this out: I lived in WI for 1 month, and they refunded me a lot of money. I lived in MN for 11 months and paid in a bunch- then they tell me I owe about 100. Friggin Minnesota. I'm moving.
Rate this comment
Yours:

Rated 0 times.
l_ad719f619e5ad7f4b593814445bf63ec.jpgRUFiO1984 - 219 Posts
03/03/2008 @ 12:02:17 PM
 Quote this comment
I owe gawdamn it!!!
Rate this comment
Yours:

Rated 0 times.
reign_of_fire_150.jpgMicah - I didn't make that! It fell out of your hair that way!
03/03/2008 @ 09:21:03 PM
 Quote this comment
I also already got my federal refund...NY state is dragging its heels though
Rate this comment
Yours:

Rated 0 times.
hoochpage.JPGSarah - How do you use these things?
04/15/2008 @ 05:35:18 PM
 Quote this comment
And suddenly I'm allowed to have a life againemoticon
Rate this comment
Yours:

Rated 0 times.
face.bmpCarlos44ec - 2078 Posts
04/15/2008 @ 08:18:33 PM
 Quote this comment
I'm happy for you Sarah. Glad you can watch baseball now.
Rate this comment
Yours:

Rated 0 times.
avatar2345.jpgPackOne - 1528 Posts
04/15/2008 @ 08:40:44 PM
 Quote this comment
applause.gif
Rate this comment
Yours:

Rated 0 times.
jon.jpgJon - 1 bajillion posts
04/16/2008 @ 01:55:22 AM
 Quote this comment
Sarah Wrote - 04/15/2008 @ 05:35:18 PM
And suddenly I'm allowed to have a life againemoticon


Actually, Sarah, this is the thread about 2008 taxes, so you've really just started.



"Look at those morons. I paid my taxes over a year ago!" -- Homer Simpson.

A quote which, of course, leads to an all time classic Homer moment.


Homer: Marge! How many kids do we have? Oh, no time to count, I'll just
estimate! Uh... nine!
Marge: Homer, you know we don't h--
Homer: Shut up, shut up! If I don't hear you it's not illegal! OK, I need
some deductions, deductions... ah!! Business gifts!
[Homer grabs the boat painting from above the couch and hands it to
Marge.]
Here you go, keep using nuclear power!
Marge: Homer! I painted that for you!
Homer: OK, Marge, if anyone asks, you require twenty four hour nursing care,
Lisa's a clergyman, Maggie is seven people, and Bart was wounded in
Vietnam!
Bart: Cool!
Rate this comment
Yours:

Total:

Rated 1 times.
Jon edited this at 04/16/2008 1:55:58 am
vignette.bmpCarlos44ec - 2078 Posts
04/16/2008 @ 07:29:07 AM
 Quote this comment
Excellent use of a Simpsons quote.
Rate this comment
Yours:

Rated 0 times.
jeremy.jpgJeremy - Broadcast in stunning 1080i
04/16/2008 @ 09:00:05 AM
 Quote this comment
5F14.jpg
Rate this comment
Yours:

Rated 0 times.
hoochpage.JPGSarah - 4091 Posts
04/16/2008 @ 11:46:36 AM
 Quote this comment
Jon's right but I will still be in 2007 taxes world til October.
Rate this comment
Yours:

Rated 0 times.
face.bmpCarlos44ec - 2078 Posts
04/16/2008 @ 12:03:03 PM
 Quote this comment
Darned corporate slackers!
Rate this comment
Yours:

Rated 0 times.
flower .jpgPackOne - No matter how many MC's I eat up ... oh, it's never enough.
01/22/2009 @ 05:09:41 PM
 Quote this comment
Do I have to buy a brand new turbo tax every year or can you use the old one and upgrade it?
Rate this comment
Yours:

Rated 0 times.
face.bmpCarlos44ec - www.digi.com
01/22/2009 @ 05:11:17 PM
 Quote this comment
do taxact online, its good. not great, but good.
Rate this comment
Yours:

Rated 0 times.
sarah.jpgSarah - So's your face
01/22/2009 @ 07:06:02 PM
 Quote this comment
Why would you pay to do your taxes? Go to IRS.gov and pick one of the free sites. I think the only bummer is that you can't do your state taxes at the same site, so just go to Wisconsin.gov. Here I was, all excited that there was commotion on this thread and meh, nothing. By the way this thread is now relevant since we're doing our 2008 taxes.
Rate this comment
Yours:

Rated 0 times.
newalex.jpgAlex - 3618 Posts
01/22/2009 @ 07:45:46 PM
 Quote this comment
That's why you'd pay, to get it over with and not have to enter everything twice.
Rate this comment
Yours:

Total:

Rated 1 times.
matt.jpgMatt - 3354 Posts
01/23/2009 @ 07:00:33 AM
 Quote this comment
Remember though, if you worked for the International Monetary Fund, you need to pay self-employment tax.
Rate this comment
Yours:

Total:

Rated 3 times.
reign_of_fire.jpgMicah - 584 Posts
01/23/2009 @ 08:14:42 AM
 Quote this comment
Thanks Rush...I'm planning on using Turbo Tax this year so I don't have to pay my self-employment tax.

You are all lucky. I earned income in 4 states this year. Hello tax forms!

Hi Everybody, how have you been?
Rate this comment
Yours:

Rated 0 times.
vignette.bmpCarlos44ec - 2078 Posts
01/23/2009 @ 08:46:39 AM
 Quote this comment
looking forward to getting some money back from the feds, and paying for a crumbling infrastructure, a state-run nanny system, and a senate election debacle...

... how YOU doin?
Rate this comment
Yours:

Rated 0 times.
jeremy.jpgJeremy - 8953 Posts
01/23/2009 @ 10:36:56 AM
 Quote this comment
My dad has an accounting assoc degree, and now I'm married to a semi-legitimate accountant, so I've never once done my taxes. Suckers.
Rate this comment
Yours:

Total:

Rated 3 times.
avatar2345.jpgPackOne - From your first cigarette to your last dyin' day.
01/23/2009 @ 10:56:54 AM
 Quote this comment
Matt Wrote - Today @ 07:00:33 AM
Remember though, if you worked for the International Monetary Fund, you need to pay self-employment tax.


Damn, I knew I should have turned down that position.

Alex Wrote - Yesterday @ 07:45:46 PM
That's why you'd pay, to get it over with and not have to enter everything twice.


That was my thought. If you file a homestead it still is a pain having to mail in the form to a seperate location however.

Sarah Wrote - Yesterday @ 07:06:02 PM
Why would you pay to do your taxes?


That is a good point, when should I be over?
Rate this comment
Yours:

Total:

Rated 1 times.
face.bmpCarlos44ec - "The tallest blade of grass is the first to be cut by the lawnmower."
01/23/2009 @ 01:15:12 PM
 Quote this comment
Jeremy Wrote - Today @ 10:36:56 AM
My dad has an accounting assoc degree, and now I'm married to a semi-legitimate accountant, so I've never once done my taxes. Suckers.


Has Jeff ever told you to "Diversify ya Bonds, Ni...." like Wu Tang Financial?
Rate this comment
Yours:

Rated 0 times.
fry6beeu9.jpgJeremy - Pie Racist
01/23/2009 @ 01:25:56 PM
 Quote this comment
No, but he did often warn me to "Protect yo god damn neck"
Rate this comment
Yours:

Rated 0 times.
hoochpage.JPGSarah - How do you use these things?
01/23/2009 @ 06:56:07 PM
 Quote this comment
PackOne Wrote - Today @ 10:56:54 AM


Sarah Wrote - Yesterday @ 07:06:02 PM
Why would you pay to do your taxes?


That is a good point, when should I be over?


Because I enjoy doing other people's tax returns at no charge in my spare time, feel free to stop by anytime...emoticon
Rate this comment
Yours:

Total:

Rated 1 times.
Sarah messed with this at 01/23/2009 6:56:35 pm
avatar2345.jpgPackOne - 1528 Posts
01/23/2009 @ 09:12:06 PM
 Quote this comment
Heh. I alway's forget about the "There's an emoticon for how you feel" section. I need to utilize that feature.
Rate this comment
Yours:

Rated 0 times.
face.bmpCarlos44ec - www.digi.com
01/27/2009 @ 08:31:33 AM
 Quote this comment
I saw a video interview of a couple of IRS people telling me that there is actually no real law saying that my income can be taxes. Well, I am very sure there are Income Tax laws (otherwise how can they convict you of tax evasion?) but they could have said no Constitutional Priviledges exist for the government to tax my income.

Either way I think it was BS, but that's what you get for watching video on conspriacy theories...
Rate this comment
Yours:

Rated 0 times.
scott.jpgScott - 6225 Posts
01/27/2009 @ 04:03:39 PM
 Quote this comment
Article 1 Section 8:
The Congress shall have power to lay and collect taxes, duties, imposts and excises, to pay the debts and provide for the common defense and general welfare of the United States; but all duties, imposts and excises shall be uniform throughout the United States;
Rate this comment
Yours:

Rated 0 times.
vignette.bmpCarlos44ec - 2078 Posts
01/27/2009 @ 04:27:42 PM
 Quote this comment
so although it does not say "Thou shalt tax carl's income" it does not need to expressly state where the tax is levied.

Damned Ron Paulians!
Rate this comment
Yours:

Rated 0 times.
vignette.bmpCarlos44ec - 2078 Posts
01/27/2009 @ 07:58:31 PM
 Quote this comment
filed. am I first?
Rate this comment
Yours:

Rated 0 times.
hoochpage.JPGSarah - How do you use these things?
01/27/2009 @ 08:15:12 PM
 Quote this comment


Winner winner chicken dinner...
Rate this comment
Yours:

Rated 0 times.
face.bmpCarlos44ec - 2078 Posts
01/27/2009 @ 09:06:42 PM
 Quote this comment
Don't think I won't collect. Got kool-aid?
Rate this comment
Yours:

Rated 0 times.
scott.jpgScott - 6225 Posts
01/28/2009 @ 08:28:21 AM
 Quote this comment
I haven't even started yet.
Rate this comment
Yours:

Rated 0 times.
reign_of_fire_150.jpgMicah - We can do this easy, or we can do it real easy
01/28/2009 @ 09:03:42 AM
 Quote this comment
Haven't even received all my W2/1099's yet, but I am getting ready to drop some coin on self-employment tax.

Carl, I'll buy you a bucket if you ever return my phone calls. I just sit and weep all night long.
Rate this comment
Yours:

Rated 0 times.
face.bmpCarlos44ec - Tater Salad?
01/28/2009 @ 11:37:44 AM
 Quote this comment
Yeah, if I get to call you tonight it will be a 6 day lead on a call back. That's pretty crappy. I'll make sure I call you tonight, sorry!
Rate this comment
Yours:

Rated 0 times.
face.bmpCarlos44ec - "If at first you don't succeed, failure may be your style."
01/30/2009 @ 10:16:33 AM
 Quote this comment
so while we little people (or wee little people) are worried about taxes and the economy, Wall Street is giving $18.4b in "atta-boy-or-girl"s and Exxon is making a record killing of what, $45.2b?

makes me a bit cranky to think about it.
Rate this comment
Yours:

Rated 0 times.
newalex.jpgAlex - I was too weak to give in Too strong to lose
01/30/2009 @ 01:09:40 PM
 Quote this comment
I wouldn't care about the bonuses if we (the government) hadn't just handed these companies free money. There should've been a no bonuses clause attached the bailout, or even better there should not have been a bailout. Sure seems like it hasn't done a damn thing anyway.
Rate this comment
Yours:

Rated 0 times.
hoochpage.JPGSarah - 4091 Posts
01/30/2009 @ 07:12:52 PM
 Quote this comment
Alex Wrote - Today @ 01:09:40 PM
I wouldn't care about the bonuses if we (the government) hadn't just handed these companies free money. There should've been a no bonuses clause attached the bailout, or even better there should not have been a bailout. Sure seems like it hasn't done a damn thing anyway.


They didn't use the bailout money, they used their own money for those bonuses, which was part of the stipulation. No bailout money for bonuses... so as you can see it was totally legit...
Rate this comment
Yours:

Rated 0 times.
IMG_3063[1].jpgjthompto
02/01/2009 @ 01:55:03 PM
 Quote this comment
Does anyone know the exact details of the first time homebuyers credit this year?
Rate this comment
Yours:

Rated 0 times.
sarah.jpgSarah - How do you use these things?
02/01/2009 @ 02:07:20 PM
 Quote this comment
It's a 7500 dollar loan(credit) from the government that you "repay" over the course of 15 years. What else do you need to know? (and I don't mean it in a sarcastic way, which is how everyone I've talked to seems to have read this)
Rate this comment
Yours:

Rated 0 times.
Sarah screwed with this at 02/01/2009 4:16:24 pm
reign_of_fire_150.jpgMicah - 584 Posts
02/02/2009 @ 11:18:56 AM
 Quote this comment
There's also an income limit you have to be under to get the credit (but I think it is close to 100K) and its being considered to make it a part of the stimulus as a permanent credit rather than repayable.

http://www.federalhousingtaxcredit.com/faq.php#1
Rate this comment
Yours:

Rated 0 times.
avatar2345.jpgPackOne - 1528 Posts
02/04/2009 @ 11:10:18 AM
 Quote this comment
HR tax software blows. It's Turbo Tax from here on out. Plus, I/it screwed up my state return and put the rent I paid into a box for rent received. This added 7 grand to my AGI and now I have to send an amended return. Grrr.
Rate this comment
Yours:

Rated 0 times.
newalex.jpgAlex - 3618 Posts
02/15/2009 @ 03:20:38 PM
 Quote this comment
Done. Stuck with HR online since it pulls in previous year info, and payed the sucker fee to get my state filed and done with.
Rate this comment
Yours:

Rated 0 times.
sarah.jpgSarah - So's your face
02/15/2009 @ 03:23:07 PM
 Quote this comment
I did our taxes on Saturday - the sexiest thing to do on Valentine's Day.
Rate this comment
Yours:

Total:

Rated 1 times.
scott.jpgScott - Resident Tech Support
02/16/2009 @ 07:23:32 AM
 Quote this comment
I did my taxes. TurboTax.com allows for free federal e-file. Woot. And Thank goodness for the tuition credit. That accounted for almost 75% of my tax refund.
Rate this comment
Yours:

Rated 0 times.
Scott perfected this at 02/16/2009 7:24:25 am
vignette.bmpCarlos44ec - Since 1980!
02/17/2009 @ 10:15:40 AM
 Quote this comment
Sarah Wrote - 02/15/2009 @ 03:23:07 PM
I did our taxes on Saturday - the sexiest thing to do on Valentine's Day.


I see the honeymoon is over, eh?
Rate this comment
Yours:

Rated 0 times.
fry6beeu9.jpgJeremy - 1.21 Gigawatts!?!?
02/17/2009 @ 12:06:55 PM
 Quote this comment
Carlos44ec Wrote - Today @ 10:15:40 AM
Sarah Wrote - 02/15/2009 @ 03:23:07 PM
I did our taxes on Saturday - the sexiest thing to do on Valentine's Day.


I see the honeymoon is over, eh?


She wasn't joking. Nothing gets Sarah all worked up like seeing what our refund will be.
Rate this comment
Yours:

Rated 0 times.
reign_of_fire_150.jpgMicah - Even now in Heaven there are angels carrying savage weapons
02/17/2009 @ 12:55:53 PM
 Quote this comment
Nothing like moving 4 times in 2 years to screw up getting your tax forms on time.
Rate this comment
Yours:

Rated 0 times.
face.bmpCarlos44ec - Since 1980!
02/17/2009 @ 02:08:27 PM
 Quote this comment
Jeremy Wrote - Today @ 12:06:55 PM
Carlos44ec Wrote - Today @ 10:15:40 AM
Sarah Wrote - 02/15/2009 @ 03:23:07 PM
I did our taxes on Saturday - the sexiest thing to do on Valentine's Day.
I see the honeymoon is over, eh?
She wasn't joking. Nothing gets Sarah all worked up like seeing what our refund will be.


So you're receiving a healthy refund? I thought I remembered her mentioning the importance of proper deductions claiming once, perhaps that doesn't apply or- and this is entirely possible- I was wrong.
Rate this comment
Yours:

Rated 0 times.
jeremy.jpgJeremy - No one's gay for Moleman
02/17/2009 @ 02:28:11 PM
 Quote this comment
We owe federal, apparently "overpaying" state is somewhat unavoidable. I'm sure she can explain.
Rate this comment
Yours:

Rated 0 times.
face.bmpCarlos44ec - 2078 Posts
02/17/2009 @ 02:30:31 PM
 Quote this comment
and if she does, perhaps she has suggestions on what I should be claiming as a SINK and what we might want to do as DINKs next year.
Rate this comment
Yours:

Rated 0 times.
hoochpage.JPGSarah - 4091 Posts
02/17/2009 @ 07:57:40 PM
 Quote this comment
Carlos44ec Wrote - Today @ 02:30:31 PM
and if she does, perhaps she has suggestions on what I should be claiming as a SINK and what we might want to do as DINKs next year.


I want to be a THINKER.
Rate this comment
Yours:

Rated 0 times.
jon.jpgJon - 2847 Posts
02/21/2009 @ 05:12:10 AM
 Quote this comment
Accountants do it for LIFO.

I still don't know if/why that's funny, but one of my friends from college seemed to think it was. Plus, I like the sound of it.

By the way, Jeremy, please don't ever mention again what may or may not get sarah "all worked up" on Valentine's day.
Rate this comment
Yours:

Rated 0 times.
newalex.jpgAlex - Who controls the past now controls the future
02/21/2009 @ 12:17:39 PM
 Quote this comment
Speaking of Valentine's Day, I wonder how many women received gifts purchased from this site http://www.flirtygirlfit.com/default.asp
Rate this comment
Yours:

Rated 0 times.
jon.jpgJon - 1 bajillion posts
03/03/2009 @ 05:46:16 AM
 Quote this comment
At the risk of opening up a political can of worms, I have to ask, did anyone else hear that another guy who was nominated by Pres. Obama has been found to have tax issues? As in, owing some to ol' Uncle Sam?

I'm not really interested in hearing critics from the right or apologists from the left chime in as much as I'm just wondering what the crap is going on. Not in a, "please someone explain this to me" way, but more in a "seriously?" kind of way. Though, a bit of that first kind also.

I mean, apparently this latest case isn't expected to derail the confirmation, and it's interesting to see that part of the issue is that he apparently donated some speaking fees to a university. But, yet, he owes $10,000 in back taxes, so its not like it's a non-issue. I mean, 10,000 is 10,000. Plus the other big part of the sum he owes involves deducting about twice what he should have for Mavericks tickets. I'm sure there's a joke in there about the mavericks sucking, but that's not the point.

What I'm wondering is, and maybe someone can enlighten me a bit here, does someone have to reach cabinet-level, or near-cabinet-level nominee status before their finances are actually scrutinized? I mean, don't get me wrong, I'm not for the feds being up our butts about every single penny and where it's going. But I thought the IRS actually audited people. Or did they give that up? Because I'm pretty sure there are "average" people out there who've been through the wringer in the past.

I mean, holding elected (or appointed, but these people have been elected in the past) officials to a higher standard is one thing, but first can we confirm that they are at least being held to the same standard? Maybe they are, I don't know for sure. I mean, I hate to be so cliched as to decry politicians' collective misbehavior, but I guess I'm left with little choice unless someone can explain otherwise.

Because right now I'm starting to think that A) none of us need to really worry about paying these taxes unless we think the Senate Finance Committee will someday have reason to look for them. or B) no noteworthy politician need worry about paying them unless they reach that level, but the rest of us need to. I guess someone could argue C) many of us common folk would fail under such scrutiny. Of course, many of us don't have the level of access to the number of resources which could easily ensure that we don't fail under such scrutiny. That is, compared to the access of politicians like Senators and Mayors. So, you'd have to do a good job to convince me of "C." Are there more options to consider? D) This isn't what it appears to the layman? E) It's an honest mistake? F) These aren't the droids you're looking for?

I'll keep an open yet skeptical mind if someone would like to explain their take on it.

By the way, for clarification's sake, I don't really embrace taking the spirit of option A too far. I mean, not in the sense that "if we can get away with it, and if other people are doing it, then I somehow have the moral ground to also neglect taxpaying." That's probably not the way to go.
Rate this comment
Yours:

Rated 0 times.
Jon edited this 2 times, last at 03/03/2009 6:04:06 am
scott.jpgScott - 6225 Posts
03/03/2009 @ 07:47:08 AM
 Quote this comment
That's a good point. The critics say that Obama's cabinet is full of tax cheats, but what it sounds like is that there are a ton of "tax cheats" out there, but they just now started auditing the high up officials.
Rate this comment
Yours:

Rated 0 times.
jeremy.jpgJeremy - The pig says "My wife is a slut?"
03/03/2009 @ 10:27:47 AM
 Quote this comment
I've said it before, and I'll say it again (and Matt will reply "Fair Tax. emoticon"):

The tax code is just too complicated. They are finding something on everyone being scrutinized because they'd find something on virtually anyone if they went looking for it. H&R Block commercials advertise that they find errors in 3/4ths of the tax returns they review, and a vast majority of H&R Block's customers probably don't have very complicated returns. With big wigs in DC we're talking about wealthy people, with income coming from lots of places, with multiple residences in multiple states. Audits don't happen often, and anyone of us would be guilty of overlooking some technicality. How many of us let WI know about all our online/out of state purchases? How many waitresses really claim ALL their tips? In fact I'd be willing to bet that a bigger percentage of "average joes" are knowingly screwing the government than rich people who know they will be more under a microscope, and can hire people to find loopholes to perfectly legally screw the government.

Audits are rare, and if the government knew what to expect from us in terms of an internal review process then they wouldn't need us to file this information at all.

So in the end, a little of c a little of e.
Rate this comment
Yours:

Rated 0 times.
scott.jpgScott - 6225 Posts
03/03/2009 @ 11:54:00 AM
 Quote this comment
When I submitted my 2007 taxes, I included my expenses for moving to Florida as an adjustment or credit or whatever (not a deduction). Anyway, I discovered this year that the moving expense is only if you were moving for a job, but when I filled out the form last year it was never really clear as to why. I simply saw that I could include moving expenses so I did (to be fair, I WAS moving in order to Work in Florida, but I didn't have a job when I moved; thechnicality). Anyway, if someone looked at my records, they might have reason to take exception with my tax filings. Now, if I had made this mistake on a much larger scale (completely honest mistake), and I had been running for public office or being nominate to a cabinet position, it might sink me.
Rate this comment
Yours:

Rated 0 times.
thumbnailCAW1I0O3.gifMatt - 3354 Posts
03/03/2009 @ 01:04:26 PM
 Quote this comment
I think it's a given that the tax code is too complicated.

As for Jon's question of why these "big wig" types aren't audited, I would assume that due to a combination of having extra-competent accountants and that a lot of the problems come from "non-traditional" income/deductions. These types of returns, then, end up looking fine on their face so they don't arouse suspicion until looked at closely.
Rate this comment
Yours:

Total:

Rated 2 times.
Matt messed with this at 03/04/2009 9:35:58 am
jon.jpgJon - infinity + 1 posts
03/04/2009 @ 06:55:51 AM
 Quote this comment
Scott Wrote - Yesterday @ 07:47:08 AM
That's a good point. The critics say that Obama's cabinet is full of tax cheats, but what it sounds like is that there are a ton of "tax cheats" out there, but they just now started auditing the high up officials.


Not necessarily my singular "point", but ok. There was some of that in there.

Though, I'm wondering, did you mean to use "tax cheats" to say that those being discovered are being mislabeled or that those NOT discovered for lack of scrutiny are also deserving of the label? Or something in between? and how much in between?

Jeremy Wrote - Yesterday @ 10:27:47 AM
So in the end, a little of c a little of e.


Color me cynical, but I'm not sure I'm jumping in that camp quite yet. I don't doubt that millions of tax returns are littered with technicalities that aren't caught. But is that what we're dealing with here? (Half honest/half rhetorical) I get that the income is non-traditional and that creates difficult filings, but would the correct deduction for Mavericks tickets be something difficult for a former mayor's accountant to handle? Or would it be something easy for a former mayor's accountant to embellish? I mean, granted, for the politician themselves the issue of what goes into what column is probably way down on their list of priorities. But for the accountant, those ARE the issues. I'm not sure who does Daschle's taxes, but I'm guessing the former Senator is at least one of his/her more notable clients. (Maybe there are other big wigs in South Dakota that trump him, but I'm not sure anyone can name any) My point is, for the accountant, there's motivation to do the job correctly if that's the desire. The only things getting in the way would be that either the politician is giving the accountant inaccurate info, or that "doing it correctly" takes a backseat to "doing it acceptably with better looking results." Or the accountant isn't good, but I'm guessing he or she is more than competent.

Plus, I understand it's a matter of degrees of course, but there are plenty of people confirmed with no tax issues, so it's not like literally everyone has a skeleton in the tax closet. Or that even the majority of them do. So there's something these guys are doing or not doing that is different than the others. Unless the others are just that much better at hiding it. And if that's the case, then we can just forget this whole discussion, because it's practically meaningless and politicians can just pay their taxes in the form of frozen turkeys.

Honest questions for Sarah or any other CPA with knowledge of tax issues: I'll start small and work up. First, if you were charged with the task, do you think you could make the right deduction for Mavericks season tickets? (I don't mean to belabor the issue of the tickets, I'm honestly asking this.) Second, and this might take a bigger leap of assumptions, do you think these peoples' accountants should have been able to avoid these issues? Or are they likely honest mistakes? Or is it closer to "mistake, but probably should have been done right the first time," or is it closer to "mistake, and I think they were probably trying to be a little too creative" or none of the above or can we simply not begin to assume?

I'd really like to know. Not to point fingers or to come to someone's defense or for some political leverage or something, because this is the kind of stuff that everyone always defends or criticizes when it's convenient to their political leanings anyway. I just really want to know.

If my feelings weren't already clear, I'll wrap up with this. As I've stated, I'm skeptical about the "honest mistake" point of view, but I'm not ruling it out in every case. But honest mistakes do happen, and even not-so-honest mistakes happen, and we all do some of both. So none of us should get too holier-than-thou about such things. But I feel we have to guard against lowering our standards too. I'm sure it comes across as civic idealism to some, but I feel it IS fair to expect a higher level of diligence from politicians on things like paying taxes properly. A large part of the job description for most of the politicians involves creating, implementing, and enforcing these tax laws, not to mention deciding where the revenue from the taxes goes.

So it's probably overkill to make these guys out to be degenerate scofflaws, but there probably should be some consequences. Maybe having to withdraw from the nomination is fair. Maybe just having the embarrassment for a week in the media and writing a check for the back taxes is adequate. It looks like we're getting a little of both this time around.
Rate this comment
Yours:

Rated 0 times.
jeremy.jpgJeremy - 8953 Posts
03/04/2009 @ 01:13:42 PM
 Quote this comment
Without speaking for Sarah I think you are giving accountants too much credit. The tax code is like 2 bajillion pages, even the best team of accounts couldn't track it all. Certainly assuming that even the most competent of accountants never make mistakes, even on things they DO know, is incorrect. To err is human, after all.

Seems to me that there would be 1001 ways to go about being dishonest on your taxes, and misrepresenting the cost of season tickets wouldn't be one of them. That's an easily accessible/estimable figure.

I don't see this as defending democrats or anything, I'd be saying the same thing if it were republicans in minor tax related mix ups, they are really pretty unavoidable. Of course, I'm a little biased about getting upset at someone for having trouble with a giant overgrown codebase that should have been shit canned decades ago.
Rate this comment
Yours:

Rated 0 times.
matt.jpgMatt - 3354 Posts
03/04/2009 @ 02:35:00 PM
 Quote this comment
I'm usually one to give people the benefit of the doubt, but I have a hard time believing Daschle and Geithner didn't know what they were doing (I won't comment on this new guy or the others, since I'm not as familiar with their situations). Yeah, the tax code is messed up, but even I know that if you get an expensive service for free like Daschle did, you probably need to pay taxes on it. As for Geithner, the IMF notified him of his estimated liabilities and even refunded him for the employer parts of the taxes due. Now, its still possible that both guys made honest mistakes. That said, I think there is as much (if not more) of a chance that they tried to get away with something because they figured they could.
Rate this comment
Yours:

Rated 0 times.
Matt screwed with this 2 times, last at 03/04/2009 2:35:37 pm
jeremy.jpgJeremy - Super Chocolate Bear
03/04/2009 @ 04:14:01 PM
 Quote this comment
Well, I don't know a whole lot about the individual situations. It's entirely possible that one, two, or most of them were intentionally trying to get away with something, I just think it's important to keep some perspective on the issue (not that anyone here isn't). There's a lot figurative throwing up of hands over "congress not paying their taxes" which I think is largely a mischaracterization of what is really happening.

Also, it's important to keep in mind that part of the point of having someone do your taxes is that you don't know how to do them. I sign off on what Sarah does for me every year, the fact that I "can review them" is meaningless. The 90% of the point of hiring an accountant is that you don't know what they are doing. (The other 10% would be you just not wanting to do the paperwork.) It would be the equivalent of paying someone to translate your book into Sanskrit, and then being on the hook for any errors just because "you could have reviewed it." As a corollary, if you don't know what is and isn't taxable, or forget to mention something, and the accountant doesn't know they should ask it, these things could arise. People in Washington are probably handed everything and driven everywhere all the time. It's not crazy to think they are unaware something is worth mentioning to their accountant (or they accidentally left out one of the 10000 things they did disclose).
Rate this comment
Yours:

Rated 0 times.
Jeremy edited this at 03/04/2009 4:20:40 pm
fry6beeu9.jpgJeremy - 8953 Posts
03/04/2009 @ 04:30:05 PM
 Quote this comment
As a rule of thumb; incompetence is often the real explanation anytime someone, especially a group of people, is being accused of being evil. The likelihood of it being sheer incompetence goes up as the supposed act gets more and more brandish/evil. In this case they aren't being accused of anything too evil, so although incompetence is still a possibility, it's also more likely they were trying to slide under the radar.

When I hear people talk about "Bush lying" about WMD's/other intelligence "to start a war" I always cringe a little. It's much much much more likely that lots of mistakes were made by people with their hearts in the right place, so to speak, than it is that hundreds of people got together and, unified in their malevolence, concocted the entire thing.
Rate this comment
Yours:

Rated 0 times.
Jeremy messed with this at 03/04/2009 4:56:47 pm
reign_of_fire.jpgMicah - 584 Posts
03/04/2009 @ 06:31:10 PM
 Quote this comment
This makes me wonder if there is some republican tax genius out there hidden in some underground bunker. How is the Obama vetting team constantly missing things in this process that come back to bite them in the ass? Yes you could argue that they are vetting a ton of people and don't have as much time to go through everyone completely, but I like to think the republicans have a 13-year old tax equivalent of Doogie Howser rifling through nominees' tax returns.
Rate this comment
Yours:

Rated 0 times.
fry6beeu9.jpgJeremy - 8953 Posts
03/04/2009 @ 10:43:34 PM
 Quote this comment
Sarah didn't feel like posting, but I asked her if it's possible that things were left off/forgotten about and she said "Yes, It happens all the time."
Rate this comment
Yours:

Rated 0 times.
vignette.bmpCarlos44ec - A Vote for me is a Vote against Terrorism! ...or atleast just wasted.
03/05/2009 @ 09:04:38 AM
 Quote this comment
Where's Ross Perot?
Rate this comment
Yours:

Rated 0 times.
flower .jpgPackOne - 1528 Posts
03/05/2009 @ 09:51:29 PM
 Quote this comment
In unrelated news. I was going to write an article tonight, but just decided not to. Much like the smartest nutcanner article I started like three months ago and never bothered with again. I think I had Matt winning, but I am not sure. Anyway, I have a tax question.

I had to file an amended state return. The 1 whatever form. I accidentally put my rent paid in the rent received box. So, I filled it out and sent it in.

1. Will they send me a check, and if so will it go direct deposit like my last one?
2. Is it going to take forever?
Rate this comment
Yours:

Rated 0 times.
hoochpage.JPGSarah - So's your face
03/06/2009 @ 07:10:12 PM
 Quote this comment
PackOne Wrote - Yesterday @ 09:51:29 PM
In unrelated news. I was going to write an article tonight, but just decided not to. Much like the smartest nutcanner article I started like three months ago and never bothered with again. I think I had Matt winning, but I am not sure. Anyway, I have a tax question.

I had to file an amended state return. The 1 whatever form. I accidentally put my rent paid in the rent received box. So, I filled it out and sent it in.

1. Will they send me a check, and if so will it go direct deposit like my last one?
2. Is it going to take forever?


I don't know if I should help you, since you're naming Matt as the smartest nutcanner. I'll have to think about it.

Ok.... so #1 if they send you a check (and this applies to other aspects of life) they won't also do direct deposit.
I believe for amended returns they just send a check.
2. It usually takes about 6 weeks, it might take longer since you're amending it during busy season.
Rate this comment
Yours:

Total:

Rated 2 times.
flower .jpgPackOne - 1528 Posts
03/11/2009 @ 01:12:13 PM
 Quote this comment
Sarah Wrote - 03/06/2009 @ 07:10:12 PM
Ok.... so #1 if they send you a check (and this applies to other aspects of life) they won't also do direct deposit.


That is five nut worthy.
Rate this comment
Yours:

Rated 0 times.
scott.jpgScott - 6225 Posts
03/11/2009 @ 02:23:02 PM
 Quote this comment
Filed and paid!
Rate this comment
Yours:

Rated 0 times.
hoochpage.JPGSarah - 4091 Posts
03/11/2009 @ 07:46:51 PM
 Quote this comment


Filed.... but not paying until April 15th, anyone who pays before then is a sucker. emoticon
Rate this comment
Yours:

Rated 0 times.
scott.jpgScott - 6225 Posts
03/11/2009 @ 08:35:21 PM
 Quote this comment
When I said "paid", I meant I am the one who got paid, by the government, with my money that was technically mine in the first place.
Rate this comment
Yours:

Rated 0 times.
2887.gifAlex - Refactor Mercilessly
05/09/2009 @ 01:15:59 PM
 Quote this comment
If I buy a home now, should I file an amended 2008 form to get my first time home buyer credit sooner? Is there any downside to that?
Rate this comment
Yours:

Rated 0 times.
fry6beeu9.jpgJeremy - 8953 Posts
05/10/2009 @ 12:05:59 PM
 Quote this comment
Sarah isn't sure about the cutoff dates but yes, you should try to get your money asap, and no, there's no downside.
Rate this comment
Yours:

Rated 0 times.
2887.gifAlex - Ignorance is bliss to those uneducated
10/04/2009 @ 10:24:37 PM
 Quote this comment
I want to take a long mortgage term since rates are so low, right? Even though the total finance charge seems like a low blow?
Rate this comment
Yours:

Rated 0 times.
hoochpage.JPGSarah - 4091 Posts
10/05/2009 @ 05:46:32 PM
 Quote this comment
I would think so unless you are 120% sure you can payoff a 15 year mortgage in the allotted time, otherwise you'd have to refinance anyway. Go with 30 and just pay as much extra ya can each month.
Rate this comment
Yours:

Rated 0 times.
Leave a Comment of your very own
Name:
Comment:
Verify this code
Verify the Code in this box, or sign in, to post a comment.
click me!
There's an emoticon for how you feel!
click me!
My Files
Sign up, or login, to be able to upload files for Nutcan.com users to see.