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Started By
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re: Time of the year again: taxes
Posted on 2/10/26 at 1:02 pm to Chasin The Tiger
Posted on 2/10/26 at 1:02 pm to Chasin The Tiger
Are you w2?
1
Posted on 2/10/26 at 1:04 pm to fareplay
Hopefully, this is the last year I'm going to have to pay since I retired, again, on Dec 31.
Posted on 2/10/26 at 1:04 pm to GatorPA84
quote:Good chance last years was wrong. You should have them both reviewed.
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 1:04 pm to fareplay
yes with some rental income as wel
Posted on 2/10/26 at 1:05 pm to LsuTigahHomie
You should really know how to file your own taxes.
Posted on 2/10/26 at 1:05 pm to GatorPA84
quote:
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
Why your 2025 return might not look the same as 2024's.
Posted on 2/10/26 at 1:06 pm to LsuTigahHomie
quote:
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.
FreeTaxUSA instead of TurboTax
This post was edited on 2/10/26 at 1:07 pm
Posted on 2/10/26 at 1:13 pm to fareplay
I owe $1,000, my kid fell off as a dependent this year due to turning 19 and making his own money.
Surely some Shitmoli can use it to pay his car note
Surely some Shitmoli can use it to pay his car note
This post was edited on 2/10/26 at 1:15 pm
Posted on 2/10/26 at 1:14 pm to fareplay
Slightly more. I already got back my federal and state returns.
Posted on 2/10/26 at 1:14 pm to Bryno1960
quote:
Hopefully, this is the last year I'm going to have to pay since I retired, again, on Dec 31.
That is all going to depend upon how much taxable income you receive during 2026. Being retired doesn't absolve you from paying income tax.
It all depends upon how much you take in from Social Security, pension, 401K, IRA and other sources of income.
If you don't withhold enough, you'll still end up paying when you file.
This post was edited on 2/10/26 at 1:15 pm
Posted on 2/10/26 at 1:15 pm to TulsaSooner78
HR Block software on deep discount at Newegg. Some versions include a VPN subscription as well.
Posted on 2/10/26 at 1:16 pm to fareplay
quote:
fareplay
Probably shouldn’t have cashed out all your investments
Posted on 2/10/26 at 1:16 pm to fareplay
Ours were not as bad as last year, which surprised me b/c my husband got a few bonuses this year. We itemize, not sure if that makes a difference. I used Turbo Tax for years, switched to Free Tax USA last year...much simpler and cheaper.
Posted on 2/10/26 at 1:25 pm to TulsaSooner78
Taxing retirement income from ss 401k etc is truly crazy work from the gov
Posted on 2/10/26 at 1:28 pm to tigergal918
quote:
Ours were not as bad as last year, which surprised me b/c my husband got a few bonuses this year. We itemize, not sure if that makes a difference. I used Turbo Tax for years, switched to Free Tax USA last year...much simpler and cheaper.
Itemizing makes a difference only if your total is greater than the standard deduction.
Posted on 2/10/26 at 1:30 pm to fareplay
quote:
Taxing retirement income from ss 401k etc is truly crazy work from the gov
The whole 401K proposition is to defer taxation until after your peak earning years.
Once you begin to take withdrawals, they begin to tax you since you haven't paid any tax on it previously.
In theory, since you are retired, your tax rate is lower than it was when you were working. It all depends upon how much you withdraw in any given year.
Posted on 2/10/26 at 2:06 pm to TulsaSooner78
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 assume it also has to do with what your holdings are. my daughter just has Swppx and she got hers in Jan. Ours is always late. indiv. stocks and a few LP type entitites
This post was edited on 2/10/26 at 2:08 pm
Posted on 2/10/26 at 2:29 pm to Jmcc64
quote:
I assume it also has to do with what your holdings are. my daughter just has Swppx and she got hers in Jan. Ours is always late. indiv. stocks and a few LP type entitites
The Limited Partnerships seem to always get their Schedule-K documents out late.
I don't even bother starting mine until mid-March, and don't file until right before the deadline. I typically owe, so I give no shits about making them wait until the very last moment.
Posted on 2/10/26 at 2:33 pm to LsuTigahHomie
If you have a straight forward tax filling, Turbo Tax works well. It’s simple to use and you can always go back and retrieve older tax documents.
Posted on 2/10/26 at 2:34 pm to fareplay
We pay estimated taxes and my goal is always +/- $100.
I owe $26 this year. Closest to $0 I have ever been.
I owe $26 this year. Closest to $0 I have ever been.
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