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*** Official 2013 Taxes *** (1 Viewer)

Keerock

Keerock

Footballguy
Started entering all my info into TurboTax this weekend. Looks like I'm getting $7K back. :eek: Cool, because I like money, sucks, because Uncle Sam has been using my money for free :angry:

The large refund can be attributed to:

1) Health insurance changed to a HD plan last year with an HSA attached. Shoulder surgery for my son and knee surgery for me in 2013.. HSA was maxed out.

2) First "full" year of college costs for my oldest.

3) Put in high efficiency furnace, A/C which gets me a credit

4) Made a substantial charitable contribution in 2013

FWIW... I changed my W4 this morning to take out a little less in 2014.

 
Last edited by a moderator:
Jayrod said:
Doctor Detroit said:
I still haven't got my 1098s for Mortgage Interest. <_<
Click to expand...
A lot of those are being provided online nowadays. You may need to log into your lender account and print it.
Click to expand...
Both my lenders said on-line 1098s would not be available and that they were sending them out with the February statements. Usually those are mailed around the 20th of the previous month, but I still don't have mine. I am also getting two excess escrow account checks, bastards.

 
Last edited by a moderator:
Keerock said:
Started entering all my info into TurboTax this weekend. Looks like I'm getting $7K back. :eek: Cool, because I like money, sucks, because Uncle Sam has been using my money for free :angry:
Click to expand...
If it makes you feel any better, they probably wasted it on some magic beans.

 
Doctor Detroit said:
I still haven't got my 1098s for Mortgage Interest. <_<
Click to expand...
They aren't online? I sold and bought a new house this year and was able to get all my 1098s except for one from a payment we made during "transition" from one house to the other. I forgot about it and now I am amending my return.

 
Keerock said:
Started entering all my info into TurboTax this weekend. Looks like I'm getting $7K back. :eek: Cool, because I like money, sucks, because Uncle Sam has been using my money for free :angry:

The large refund can be attributed to:

1) Health insurance changed to a HD plan last year with an HSA attached. Shoulder surgery for my son and knee surgery for me in 2013.. HSA was maxed out.

2) First "full" year of college costs for my oldest.

3) Put in high efficiency furnace, A/C which gets me a credit

4) Made a substantial charitable contribution in 2013

FWIW... I changed my W4 this morning to take out a little less in 2014.
Click to expand...
I assume you paid for college out of pocket? No loans or savings plans, etc.

 
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James Daulton said:
Keerock said:
Started entering all my info into TurboTax this weekend. Looks like I'm getting $7K back. :eek: Cool, because I like money, sucks, because Uncle Sam has been using my money for free :angry:

The large refund can be attributed to:

1) Health insurance changed to a HD plan last year with an HSA attached. Shoulder surgery for my son and knee surgery for me in 2013.. HSA was maxed out.

2) First "full" year of college costs for my oldest.

3) Put in high efficiency furnace, A/C which gets me a credit

4) Made a substantial charitable contribution in 2013

FWIW... I changed my W4 this morning to take out a little less in 2014.
Click to expand...
I assume you paid for college out of pocket? No loans or savings plans, etc.
Click to expand...
Small loan... the rest out of pocket.

ETA: Why do you ask?

 
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We are looking at 15k back this year. I need to tax to my tax accountant no reason we should be letting the government hold that much.

I like to keep it $1000 either way. In fact I would rather pay.

 
James Daulton said:
Keerock said:
Started entering all my info into TurboTax this weekend. Looks like I'm getting $7K back. :eek: Cool, because I like money, sucks, because Uncle Sam has been using my money for free :angry:

The large refund can be attributed to:

1) Health insurance changed to a HD plan last year with an HSA attached. Shoulder surgery for my son and knee surgery for me in 2013.. HSA was maxed out.

2) First "full" year of college costs for my oldest.

3) Put in high efficiency furnace, A/C which gets me a credit

4) Made a substantial charitable contribution in 2013

FWIW... I changed my W4 this morning to take out a little less in 2014.
Click to expand...
I assume you paid for college out of pocket? No loans or savings plans, etc.
Click to expand...
You still get the college tuition credits with loans. Basically go off whatever the 1098-T says and you'll be safe.

 
Jayrod said:
James Daulton said:
Keerock said:
Started entering all my info into TurboTax this weekend. Looks like I'm getting $7K back. :eek: Cool, because I like money, sucks, because Uncle Sam has been using my money for free :angry:

The large refund can be attributed to:

1) Health insurance changed to a HD plan last year with an HSA attached. Shoulder surgery for my son and knee surgery for me in 2013.. HSA was maxed out.

2) First "full" year of college costs for my oldest.

3) Put in high efficiency furnace, A/C which gets me a credit

4) Made a substantial charitable contribution in 2013

FWIW... I changed my W4 this morning to take out a little less in 2014.
Click to expand...
I assume you paid for college out of pocket? No loans or savings plans, etc.
Click to expand...
You still get the college tuition credits with loans. Basically go off whatever the 1098-T says and you'll be safe.
Click to expand...
Rumor has it the college tuition deduction will be going away next year... anyone know if this is true?

 
Keerock said:
Jayrod said:
James Daulton said:
Keerock said:
Started entering all my info into TurboTax this weekend. Looks like I'm getting $7K back. :eek: Cool, because I like money, sucks, because Uncle Sam has been using my money for free :angry:

The large refund can be attributed to:

1) Health insurance changed to a HD plan last year with an HSA attached. Shoulder surgery for my son and knee surgery for me in 2013.. HSA was maxed out.

2) First "full" year of college costs for my oldest.

3) Put in high efficiency furnace, A/C which gets me a credit

4) Made a substantial charitable contribution in 2013

FWIW... I changed my W4 this morning to take out a little less in 2014.
Click to expand...
I assume you paid for college out of pocket? No loans or savings plans, etc.
Click to expand...
You still get the college tuition credits with loans. Basically go off whatever the 1098-T says and you'll be safe.
Click to expand...
Rumor has it the college tuition deduction will be going away next year... anyone know if this is true?
Click to expand...
Not sure, but be sure you are taking advantage of the American Opportunity Credit before you use those expenses as a deduction.

 
Keerock said:
Jayrod said:
James Daulton said:
Keerock said:
Started entering all my info into TurboTax this weekend. Looks like I'm getting $7K back. :eek: Cool, because I like money, sucks, because Uncle Sam has been using my money for free :angry:

The large refund can be attributed to:

1) Health insurance changed to a HD plan last year with an HSA attached. Shoulder surgery for my son and knee surgery for me in 2013.. HSA was maxed out.

2) First "full" year of college costs for my oldest.

3) Put in high efficiency furnace, A/C which gets me a credit

4) Made a substantial charitable contribution in 2013

FWIW... I changed my W4 this morning to take out a little less in 2014.
Click to expand...
I assume you paid for college out of pocket? No loans or savings plans, etc.
Click to expand...
You still get the college tuition credits with loans. Basically go off whatever the 1098-T says and you'll be safe.
Click to expand...
Rumor has it the college tuition deduction will be going away next year... anyone know if this is true?
Click to expand...
I've never done a return that didn't claim the credit, but apparently this deduction is indeed set to expire after 2013.

 
filing "married but separarely" this year while the divorce is going through. my soon-to-be-ex does all this 1099/freelance work and i don't think has planned for it. last year, we filed as a couple and everything would have been hunky dory except for that 1099 unpaid tax crap from her. i want to be deisgnated as custodial parent, at least for this year, and claim him for taxes. i paid for a lot of things related to him that she isn't going to be able to re-pay me for her share of. the ex is not exactly with me on this minor detail. oh the joys of divorce!

 
saintfool said:
filing "married but separarely" this year while the divorce is going through. my soon-to-be-ex does all this 1099/freelance work and i don't think has planned for it. last year, we filed as a couple and everything would have been hunky dory except for that 1099 unpaid tax crap from her. i want to be deisgnated as custodial parent, at least for this year, and claim him for taxes. i paid for a lot of things related to him that she isn't going to be able to re-pay me for her share of. the ex is not exactly with me on this minor detail. oh the joys of divorce!
Click to expand...
She is probably going to owe a crapton in taxes, so I'm sure she isn't too pumped about this idea.

 
Jayrod said:
Keerock said:
Jayrod said:
James Daulton said:
Keerock said:
Started entering all my info into TurboTax this weekend. Looks like I'm getting $7K back. :eek: Cool, because I like money, sucks, because Uncle Sam has been using my money for free :angry:

The large refund can be attributed to:

1) Health insurance changed to a HD plan last year with an HSA attached. Shoulder surgery for my son and knee surgery for me in 2013.. HSA was maxed out.

2) First "full" year of college costs for my oldest.

3) Put in high efficiency furnace, A/C which gets me a credit

4) Made a substantial charitable contribution in 2013

FWIW... I changed my W4 this morning to take out a little less in 2014.
Click to expand...
I assume you paid for college out of pocket? No loans or savings plans, etc.
Click to expand...
You still get the college tuition credits with loans. Basically go off whatever the 1098-T says and you'll be safe.
Click to expand...
Rumor has it the college tuition deduction will be going away next year... anyone know if this is true?
Click to expand...
Not sure, but be sure you are taking advantage of the American Opportunity Credit before you use those expenses as a deduction.
Click to expand...
Yes, TurboTax applied that. Thanks!

 
Jayrod said:
Keerock said:
Jayrod said:
James Daulton said:
Keerock said:
Started entering all my info into TurboTax this weekend. Looks like I'm getting $7K back. :eek: Cool, because I like money, sucks, because Uncle Sam has been using my money for free :angry:

The large refund can be attributed to:

1) Health insurance changed to a HD plan last year with an HSA attached. Shoulder surgery for my son and knee surgery for me in 2013.. HSA was maxed out.

2) First "full" year of college costs for my oldest.

3) Put in high efficiency furnace, A/C which gets me a credit

4) Made a substantial charitable contribution in 2013

FWIW... I changed my W4 this morning to take out a little less in 2014.
Click to expand...
I assume you paid for college out of pocket? No loans or savings plans, etc.
Click to expand...
You still get the college tuition credits with loans. Basically go off whatever the 1098-T says and you'll be safe.
Click to expand...
Rumor has it the college tuition deduction will be going away next year... anyone know if this is true?
Click to expand...
I've never done a return that didn't claim the credit, but apparently this deduction is indeed set to expire after 2013.
Click to expand...
That really bites. I'll have 2 in college in 2014 :angry:

 
Keerock said:
Jayrod said:
Keerock said:
Jayrod said:
James Daulton said:
Keerock said:
Started entering all my info into TurboTax this weekend. Looks like I'm getting $7K back. :eek: Cool, because I like money, sucks, because Uncle Sam has been using my money for free :angry:

The large refund can be attributed to:

1) Health insurance changed to a HD plan last year with an HSA attached. Shoulder surgery for my son and knee surgery for me in 2013.. HSA was maxed out.

2) First "full" year of college costs for my oldest.

3) Put in high efficiency furnace, A/C which gets me a credit

4) Made a substantial charitable contribution in 2013

FWIW... I changed my W4 this morning to take out a little less in 2014.
Click to expand...
I assume you paid for college out of pocket? No loans or savings plans, etc.
Click to expand...
You still get the college tuition credits with loans. Basically go off whatever the 1098-T says and you'll be safe.
Click to expand...
Rumor has it the college tuition deduction will be going away next year... anyone know if this is true?
Click to expand...
I've never done a return that didn't claim the credit, but apparently this deduction is indeed set to expire after 2013.
Click to expand...
That really bites. I'll have 2 in college in 2014 :angry:
Click to expand...
The credit will still be around, just not the deduction. In case you don't know already, credits >>>>>>>>>>>deductions

 
Jayrod said:
saintfool said:
filing "married but separarely" this year while the divorce is going through. my soon-to-be-ex does all this 1099/freelance work and i don't think has planned for it. last year, we filed as a couple and everything would have been hunky dory except for that 1099 unpaid tax crap from her. i want to be deisgnated as custodial parent, at least for this year, and claim him for taxes. i paid for a lot of things related to him that she isn't going to be able to re-pay me for her share of. the ex is not exactly with me on this minor detail. oh the joys of divorce!
Click to expand...
She is probably going to owe a crapton in taxes, so I'm sure she isn't too pumped about this idea.
Click to expand...
This was my thought.

 
Jayrod said:
James Daulton said:
Keerock said:
Started entering all my info into TurboTax this weekend. Looks like I'm getting $7K back. :eek: Cool, because I like money, sucks, because Uncle Sam has been using my money for free :angry:

The large refund can be attributed to:

1) Health insurance changed to a HD plan last year with an HSA attached. Shoulder surgery for my son and knee surgery for me in 2013.. HSA was maxed out.

2) First "full" year of college costs for my oldest.

3) Put in high efficiency furnace, A/C which gets me a credit

4) Made a substantial charitable contribution in 2013

FWIW... I changed my W4 this morning to take out a little less in 2014.
Click to expand...
I assume you paid for college out of pocket? No loans or savings plans, etc.
Click to expand...
You still get the college tuition credits with loans. Basically go off whatever the 1098-T says and you'll be safe.
Click to expand...
Is the $160k income limit gross or adjusted for this? Funny that Turbotax didn't ask me about it.

 
Keerock said:
Jayrod said:
Keerock said:
Jayrod said:
James Daulton said:
Keerock said:
Started entering all my info into TurboTax this weekend. Looks like I'm getting $7K back. :eek: Cool, because I like money, sucks, because Uncle Sam has been using my money for free :angry:

The large refund can be attributed to:

1) Health insurance changed to a HD plan last year with an HSA attached. Shoulder surgery for my son and knee surgery for me in 2013.. HSA was maxed out.

2) First "full" year of college costs for my oldest.

3) Put in high efficiency furnace, A/C which gets me a credit

4) Made a substantial charitable contribution in 2013

FWIW... I changed my W4 this morning to take out a little less in 2014.
Click to expand...
I assume you paid for college out of pocket? No loans or savings plans, etc.
Click to expand...
You still get the college tuition credits with loans. Basically go off whatever the 1098-T says and you'll be safe.
Click to expand...
Rumor has it the college tuition deduction will be going away next year... anyone know if this is true?
Click to expand...
I've never done a return that didn't claim the credit, but apparently this deduction is indeed set to expire after 2013.
Click to expand...
That really bites. I'll have 2 in college in 2014 :angry:
Click to expand...
Over certain income levels you get zero deduction, correct?

 
James Daulton said:
Jayrod said:
James Daulton said:
Keerock said:
Started entering all my info into TurboTax this weekend. Looks like I'm getting $7K back. :eek: Cool, because I like money, sucks, because Uncle Sam has been using my money for free :angry:

The large refund can be attributed to:

1) Health insurance changed to a HD plan last year with an HSA attached. Shoulder surgery for my son and knee surgery for me in 2013.. HSA was maxed out.

2) First "full" year of college costs for my oldest.

3) Put in high efficiency furnace, A/C which gets me a credit

4) Made a substantial charitable contribution in 2013

FWIW... I changed my W4 this morning to take out a little less in 2014.
Click to expand...
I assume you paid for college out of pocket? No loans or savings plans, etc.
Click to expand...
You still get the college tuition credits with loans. Basically go off whatever the 1098-T says and you'll be safe.
Click to expand...
Is the $160k income limit gross or adjusted for this? Funny that Turbotax didn't ask me about i
Click to expand...
The AOTC is worth up to $2,500 per student each year for four academic years (extended through the 2017 tax year). But families who earn too much can’t claim the credit. The income phase-out for claiming the AOTC is $160,000 – $180,000 of modified adjusted gross income on joint tax returns ($80,000 – $90,000 for single tax filers and head of household). The amount of the credit is calculated as 100% of the first $2,000 in qualified tuition and fees costs paid, plus 25% of the next $2,000 paid for such fees. For lower income taxpayers who don’t owe $2,500 in tax, up to $1,000 of the credit is refundable. (The credit is not refundable on a dependent child’s return).

 
In other words, 95% of FBG's don't qualify - including me, who had THREE in college at one time. Now have one graduated, one a senior, one a sophomore. Total BS. That income limit is way too low. They act like that's "rich".

 
Still waiting for my brokerage statement.. com'on Merrill Edge!... they promised this Friday

 
Last edited by a moderator:
Judge Smails said:
Keerock said:
Jayrod said:
Keerock said:
Jayrod said:
James Daulton said:
Keerock said:
Started entering all my info into TurboTax this weekend. Looks like I'm getting $7K back. :eek: Cool, because I like money, sucks, because Uncle Sam has been using my money for free :angry:

The large refund can be attributed to:

1) Health insurance changed to a HD plan last year with an HSA attached. Shoulder surgery for my son and knee surgery for me in 2013.. HSA was maxed out.

2) First "full" year of college costs for my oldest.

3) Put in high efficiency furnace, A/C which gets me a credit

4) Made a substantial charitable contribution in 2013

FWIW... I changed my W4 this morning to take out a little less in 2014.
Click to expand...
I assume you paid for college out of pocket? No loans or savings plans, etc.
Click to expand...
You still get the college tuition credits with loans. Basically go off whatever the 1098-T says and you'll be safe.
Click to expand...
Rumor has it the college tuition deduction will be going away next year... anyone know if this is true?
Click to expand...
I've never done a return that didn't claim the credit, but apparently this deduction is indeed set to expire after 2013.
Click to expand...
That really bites. I'll have 2 in college in 2014 :angry:
Click to expand...
Over certain income levels you get zero deduction, correct?
Click to expand...
Correct. Unfortunately, that is not a problem for me.

 
Jayrod said:
saintfool said:
filing "married but separarely" this year while the divorce is going through. my soon-to-be-ex does all this 1099/freelance work and i don't think has planned for it. last year, we filed as a couple and everything would have been hunky dory except for that 1099 unpaid tax crap from her. i want to be deisgnated as custodial parent, at least for this year, and claim him for taxes. i paid for a lot of things related to him that she isn't going to be able to re-pay me for her share of. the ex is not exactly with me on this minor detail. oh the joys of divorce!
Click to expand...
She is probably going to owe a crapton in taxes, so I'm sure she isn't too pumped about this idea.
Click to expand...
Yeah, I knew and expected this. I just got off the phone with her and told her that she could claim him this year. We might alternate going forward. I am still keeping the designation as "custodial parent" for legal reasons even if custody is joint. I'm hoping this will earn me some goodwill from her through the proceedings.

 
Interest rates are crap. You'll piss away an extra $100 per week without even realizing it. But get $5,200 at tax time.... that's something you're going to notice. Just saying this notion of allowing the government to use a little extra money "for free" is really overrated.

 
johnnycakes said:
Interest rates are crap. You'll piss away an extra $100 per week without even realizing it. But get $5,200 at tax time.... that's something you're going to notice. Just saying this notion of allowing the government to use a little extra money "for free" is really overrated.
Click to expand...
:goodposting:

It's forced savings that a lot of people can actually benefit from.

 
xulf said:
johnnycakes said:
Interest rates are crap. You'll piss away an extra $100 per week without even realizing it. But get $5,200 at tax time.... that's something you're going to notice. Just saying this notion of allowing the government to use a little extra money "for free" is really overrated.
Click to expand...
:goodposting:

It's forced savings that a lot of people can actually benefit from.
Click to expand...
How is it forced?

 
culdeus said:
Dentist said:
Still waiting for my brokerage statement.. com'on Merrill Edge!... they promised this Friday
Click to expand...
Merrill Edge? WTF?
Click to expand...
Best brokerage ever for rich guys who have a bank of america checking account already.

100 free trades a month bro! Granted, I only use about 3-5 of that 100... but sometimes I like to buy and/or sell like 1 share of something just for the LOL's

 
Dentist said:
culdeus said:
Dentist said:
Still waiting for my brokerage statement.. com'on Merrill Edge!... they promised this Friday
Click to expand...
Merrill Edge? WTF?
Click to expand...
Best brokerage ever for rich guys who have a bank of america checking account already.

100 free trades a month bro! Granted, I only use about 3-5 of that 100... but sometimes I like to buy and/or sell like 1 share of something just for the LOL's
Click to expand...
Tell me more...I have tons of B of A accounts so no problem there. Though most of my assets are at Wells Fargo Advisors and others.

 
Do I really have to spread my single premium mortgage insurance payment over 84 months? I don't think it's appropriate to say it is allocable to later years, it's not like I get it back if I get rid of the mortgage and those 'later years' never materialize.

And the difference is worth over $1k (and I won't qualify to deduct more than 1 more year, if that, if the deduction even sticks around.

 
Last edited by a moderator:
Judge Smails said:
Dentist said:
culdeus said:
Dentist said:
Still waiting for my brokerage statement.. com'on Merrill Edge!... they promised this Friday
Click to expand...
Merrill Edge? WTF?
Click to expand...
Best brokerage ever for rich guys who have a bank of america checking account already.

100 free trades a month bro! Granted, I only use about 3-5 of that 100... but sometimes I like to buy and/or sell like 1 share of something just for the LOL's
Click to expand...
Tell me more...I have tons of B of A accounts so no problem there. Though most of my assets are at Wells Fargo Advisors and others.
Click to expand...
if you have 100k combined with merrill edge / bank of america you get 100 free trades a month, access to a 75% cash bonus per month on their cash rewards credit card (1% everything, 2% grocery, 3% gas - making it 1.75 everything 3.5% grocery, and 5.25% gas), and a few other nice perks.

I have my Roth IRA and cash management account with Merill. Basically I can put together a nice diversified portfolio of ETFs or individual stocks and never pay a commission in or out.. and if I want to goof around with some day trading, I won't incur any fees either.

I mean 100 effing trades a month? There are like 20 trading days a month... who places an average of 5 trades a day besides Dodds or Eminence?

I'm sure there are better trading platforms for frequent traders and I'm sure they don't have the best website or app, but you can't beat the price.

 
culdeus said:
xulf said:
johnnycakes said:
Interest rates are crap. You'll piss away an extra $100 per week without even realizing it. But get $5,200 at tax time.... that's something you're going to notice. Just saying this notion of allowing the government to use a little extra money "for free" is really overrated.
Click to expand...
:goodposting:

It's forced savings that a lot of people can actually benefit from.
Click to expand...
How is it forced?
Click to expand...
The majority of people don't know how to control spending and properly save. By overpaying taxes they have no choice to "save" this premium (assuming they are overpaying) and get the refund at year end. To johnnycakes point, much easier to waste $400 a month than blow $4k or $5k all at once.

 
Dragons said:
Do I really have to spread my single premium mortgage insurance payment over 84 months? I don't think it's appropriate to say it is allocable to later years, it's not like I get it back if I get rid of the mortgage and those 'later years' never materialize.

And the difference is worth over $1k (and I won't qualify to deduct more than 1 more year, if that, if the deduction even sticks around.
Click to expand...
Anyone have an opinion? Am I destined to be bunking with Wesley Snipes if I deduct this?

 
saintfool said:
Jayrod said:
saintfool said:
filing "married but separarely" this year while the divorce is going through. my soon-to-be-ex does all this 1099/freelance work and i don't think has planned for it. last year, we filed as a couple and everything would have been hunky dory except for that 1099 unpaid tax crap from her. i want to be deisgnated as custodial parent, at least for this year, and claim him for taxes. i paid for a lot of things related to him that she isn't going to be able to re-pay me for her share of. the ex is not exactly with me on this minor detail. oh the joys of divorce!
Click to expand...
She is probably going to owe a crapton in taxes, so I'm sure she isn't too pumped about this idea.
Click to expand...
Yeah, I knew and expected this. I just got off the phone with her and told her that she could claim him this year. We might alternate going forward. I am still keeping the designation as "custodial parent" for legal reasons even if custody is joint. I'm hoping this will earn me some goodwill from her through the proceedings.
Click to expand...
Quick update - so changing my status from "HoH" to "MFS" changes my return considerably. Like going from almost $4k in a return to owing a couple of hundred. I text the soon-to-be-ex and let her know how much I was losing and, to her credit, she is willing to re-consider. She's eligible for credits and deductions that I can't qualify for because I exceed the income thresholds. That said, she is not in any hurry to file her taxes.

 
Judge Smails said:
In other words, 95% of FBG's don't qualify - including me, who had THREE in college at one time. Now have one graduated, one a senior, one a sophomore. Total BS. That income limit is way too low. They act like that's "rich".
Click to expand...
I don't know, $180k seems pretty reasonable to me to phase out a tax credit like that. At that income, how much does an extra $1,000 - $2,000 really mean?

 
Made too much this year (look at me) to claim depreciation losses on my rental properties, which sucks.

I am definitely not considering calling one of them a vacation home since there no one is filing 1099-Misc for rent and the current written lease had an expiration early last year... :unsure:

 
johnnycakes said:
Interest rates are crap. You'll piss away an extra $100 per week without even realizing it. But get $5,200 at tax time.... that's something you're going to notice. Just saying this notion of allowing the government to use a little extra money "for free" is really overrated.
Click to expand...
Yeah, the OP's $7,000 would have earned, what, $5 in interest or less in the bank? In this low rate environment, no need to fret it. As you note, the extra $100 or more per week would get whittled away. Now, it's a nice chunk for something.

 
tri-man 47 said:
johnnycakes said:
Interest rates are crap. You'll piss away an extra $100 per week without even realizing it. But get $5,200 at tax time.... that's something you're going to notice. Just saying this notion of allowing the government to use a little extra money "for free" is really overrated.
Click to expand...
Yeah, the OP's $7,000 would have earned, what, $5 in interest or less in the bank? In this low rate environment, no need to fret it. As you note, the extra $100 or more per week would get whittled away. Now, it's a nice chunk for something.
Click to expand...
Interesting way to look at it. Using it for our spring break/son's grad party...

 
I have used taxact.com for the last 5 years because it is such a low cost. Has anyone really compared it to the likes of turbotax or others? Just wondering if it makes sense to switch despite the higher cost for turbotax.

 
slackjawedyokel said:
I have used taxact.com for the last 5 years because it is such a low cost. Has anyone really compared it to the likes of turbotax or others? Just wondering if it makes sense to switch despite the higher cost for turbotax.
Click to expand...
I like TaxAct. I used it for my college aged son because it's free and easy. If I hadn't used TurboTax for my taxes for the last 10 years, I'd probably switch, but I'm used to it and comfortable with it.

 
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