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Posted on 4/9/24 at 10:48 am to ApexTiger
I am getting about $800 back according to my CPA. I'm a little worried because I've owed the last several years and didn't change anything. Plus, he didn't mention an extension even though my K-1 is only a draft. 
Posted on 4/9/24 at 10:53 am to KirbySmartass
quote:
Every year, I feel like I bust my arse, only to give a chunk of it back to the government so they can support people who do NOT bust their arse and are content to be that way.
Same boat and I hate it, we just stroked a big check for them to mismanage again.
The one that angered me most was a $5000 bonus that I received that I had to pay taxes on. Long, complicated story as to why, but the point is that I worked hard and earned it...only to turn around and give about $1000 of it to Uncle Sam.
Posted on 4/9/24 at 11:52 am to LSUA 75
quote:
At one time there was a magazine-MONEY magazine that held a contest in which they would create a fictitious family and have various tax preparers,CPA’s,etc do the tax return.The winner got a prize of $10,000.
The results were all over the place,it was amazing the different tax liability some them came up with.Some high priced CPA’s were embarrassed.It only last a few years as they couldn’t get anyone to compete any longer.
Initially they had some 25 participate.
Our tax system is so convoluted I wonder how they determined the winner.
Actually I think they had some retired IRS agents as judges,if I remember correctly.
That brings up another issue.They would call IRS helplines all over the country and pose as a taxpayer and ask various questions about tax issues.
The magazine said 50% of the answers they got were wrong.
Amazing yet not suprising...
remember when the Biden administration was advocating for hiring an additional 88,000 IRS agents?
it's unreal...
Posted on 4/9/24 at 11:57 am to ApexTiger
Will end up owing around 35k. Still paying on 30k+ I owed for 2022.
As I said in the minimum wage thread, it's taxes, general liability, and workers comp that hurts small businesses more than a wages. Louisiana hates small businesses.
As I said in the minimum wage thread, it's taxes, general liability, and workers comp that hurts small businesses more than a wages. Louisiana hates small businesses.
Posted on 4/9/24 at 12:00 pm to ApexTiger
Got the refund last month. Get back most of what I put in.
Posted on 4/9/24 at 12:26 pm to ApexTiger
Filed in mid February, the day my final required tax document was posted. Supposed to get just over 7k refunded thanks to a child and vehicle tax credit. Since I was getting a refund I wanted to get it done ASAP, vs last year when I owed around 4k and waited to pay Uncle Sam until the deadline.
Got a couple hundred back from the state fairly quickly. IRS keeps sending me letters saying they need more time to review. I guess they don’t want to pay up, even though everything was filed appropriately. frickers.
Got a couple hundred back from the state fairly quickly. IRS keeps sending me letters saying they need more time to review. I guess they don’t want to pay up, even though everything was filed appropriately. frickers.
Posted on 4/9/24 at 12:28 pm to ApexTiger
Owe $2800 for me. I like to pay a bit since I want the take home. This amount ten years ago would be a lot to deal with but I am fortunate my income has grown.
Posted on 4/9/24 at 12:29 pm to ApexTiger
The state of Louisiana is holding my refund hostage. I filed mid February and I have nothing.
Actually underpaid the Feds this year but thanks to the child tax credit, I got a little refund.
Actually underpaid the Feds this year but thanks to the child tax credit, I got a little refund.
Posted on 4/9/24 at 12:41 pm to ApexTiger
quote:
our tax code is stupid
we need a flat tax
Posted on 4/9/24 at 1:01 pm to ApexTiger
I ended up owing way more than I expected. Apparently that very modest cola from last year made me far richer in the governments eyes.
Posted on 4/9/24 at 1:52 pm to caliegeaux
quote:
owed $14K last year....owe $342 that i just mailed today.
We got 14k back from Feds and 600 from State. Feels like a nice little bonus
This post was edited on 4/9/24 at 1:52 pm
Posted on 4/9/24 at 2:10 pm to WigSplitta22
working on my taxes now, owe $25k so far, hoping I can bring that down some.
Posted on 4/9/24 at 2:17 pm to ApexTiger
No baller W2 poor person
Getting back 1,500
Getting back 1,500
This post was edited on 4/9/24 at 2:18 pm
Posted on 4/9/24 at 2:58 pm to ApexTiger
Getting $15K back.
Posted on 4/9/24 at 3:10 pm to lgtiger
Got the wife's W2 and noticed no fed withholding for the entire year. She doesn't make much, so no gasps necessary. She asked the pay lady and she laughingly said "that happened to several people". Paid 5500 to fed, 600 back from State.
Posted on 4/9/24 at 4:47 pm to ApexTiger
I still haven't done ours. I know we owe but hope it doesn't exceed 2k? FML
Posted on 4/9/24 at 5:01 pm to ApexTiger
Claim zero and have payroll take out an extra $500/mo. Still owe just over 15k feds and 1k state. Dependents have grown up and house is paid for so i get bent straight over on tax day.
Posted on 4/9/24 at 5:33 pm to ApexTiger
Tuned my taxes in be processed back in mid Feb. and still waiting. Have to do the long form for farm and ranch.
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