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Message
Time of the year again: taxes
Posted on 2/10/26 at 11:47 am
Posted on 2/10/26 at 11:47 am
Better or worse than last year? Ours slightly worse. Also need to uncap some of these deductions like mortgage interest
20
Posted on 2/10/26 at 11:48 am to fareplay
Trump said we’re all gonna get 20k+ back so im excited
Posted on 2/10/26 at 11:49 am to fareplay
Gotta pay for all of the freeloaders, illegals and corrupt politicians (D and R).
Posted on 2/10/26 at 11:49 am to dallastiger55
I don’t know what the fine print was but I owed more vs last year and therefore these cuts were not meant for me
Posted on 2/10/26 at 11:49 am to fareplay
Probably worse for me. Hoping estimates were fairly close. But I'm no longer a schedule A filer.
Posted on 2/10/26 at 11:50 am to fareplay
Would love to know. Still waiting for Charles Schwab documents
Posted on 2/10/26 at 11:51 am to fareplay
To bounce off of this, any tax filing recommendations? I'm fairly young and don't got a lot going on. I just used TurboTax last year.
Posted on 2/10/26 at 11:52 am to fareplay
I thought we were doing a tax revolt.
I committed. Don't you pussies back out now.
I committed. Don't you pussies back out now.
Posted on 2/10/26 at 11:53 am to LsuTigahHomie
quote:This is fine if you don't make any movements in the stock market. Otherwise I'd recommend FreeTaxUSA - only costs $15 for state filing and free for federal. If your finances are fairly simple you're fine sticking with TurboTax, but they'll try to upsell you at every turn.
To bounce off of this, any tax filing recommendations? I'm fairly young and don't got a lot going on. I just used TurboTax last year.
Posted on 2/10/26 at 11:53 am to LsuTigahHomie
If you just got w2 just use TurboTax
Posted on 2/10/26 at 11:54 am to fareplay
quote:
I don’t know what the fine print was but I owed more vs last year and therefore these cuts were not meant for me
What was your effective tax rate this year vs last year?
Posted on 2/10/26 at 11:55 am to danilo
quote:
Would love to know. Still waiting for Charles Schwab documents
I hate that shite. End of February for a 1099? It's a good thing they are better for a trading platform than the bookkeeping. That is literally the only thing holding up my filing.
Posted on 2/10/26 at 12:02 pm to CleverUserName
quote:
It's a good thing they are better for a trading platform than the bookkeeping. That is literally the only thing holding up my filing.
You are aware that Schwab and all brokers rely on data from third parties to prepare a complete and accurate 1099 for brokerage accounts?
There is a lot more complexity in brokerage 1099s than normies realize.
Yes, it is a PITA that it takes so long to get but there is a reason it takes time.
This post was edited on 2/10/26 at 12:34 pm
Posted on 2/10/26 at 12:08 pm to Dawgfanman
Similar except I had more mix of 1099 last year vs w2
Posted on 2/10/26 at 12:10 pm to fareplay
Yeah not sure I have 3 kids and didn’t have that much more earned this year compared to last but I went from getting 500 back to owning 3,600??? I had the same deductions all year the same as well
Posted on 2/10/26 at 12:25 pm to fareplay
First time I won't be receiving a refund and have to pay
Posted on 2/10/26 at 12:33 pm to Harry Caray
I left Turbo Tax for Free Tax USA. My return isn’t complicated. Turbo Tax always tried to find ways to squeeze more fees.
Posted on 2/10/26 at 12:34 pm to dallastiger55
still waiting on them DOGE checks
Posted on 2/10/26 at 12:53 pm to CleverUserName
quote:
I hate that shite. End of February for a 1099? It's a good thing they are better for a trading platform than the bookkeeping. That is literally the only thing holding up my filing.
I had to file an extension last year and didn’t get taxes done until probably September or October time.
Paid the estimated owed in April then cut an additional check in October. Then they hit me for interest on what the difference owed was back to April.
This post was edited on 2/10/26 at 12:56 pm
Posted on 2/10/26 at 12:57 pm to fareplay
Filed mine yesterday on FreeTaxUSA. Only owed ~$500. Effective tax rate came out to ~21.4%. Not bad for $500k+ AGI.
ETA: I thought it was good until google told me this:
ETA: I thought it was good until google told me this:
quote:
Individual Context: For individual taxpayers, a 21% effective rate is high. In 2022, the average rate for the top 1% of earners was 23.1%, but for most, it was far lower, such as 3.7% for the bottom half.
This post was edited on 2/10/26 at 1:04 pm
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