cougarguard.com — unofficial BYU Cougars / LDS sports, football, basketball forum and message board  

Go Back   cougarguard.com — unofficial BYU Cougars / LDS sports, football, basketball forum and message board > non-Sports > Finances

View Poll Results: Who has done their taxes so far, getting a refund or not
NOT turned in my taxes yet, I am expecting a REFUND 2 6.90%
Have NOT turned in my taxes yet, I am expecting to OWE money 4 13.79%
Have turned in my taxes, I am expecting a REFUND 16 55.17%
Have turned in my taxes, I am expecting to OWE money 7 24.14%
Voters: 29. You may not vote on this poll

Reply
 
Thread Tools Display Modes
Old 04-14-2008, 08:47 PM   #21
il Padrino Ute
Board Pinhead
 
il Padrino Ute's Avatar
 
Join Date: Jan 2006
Location: In the basement of my house, Murray, Utah.
Posts: 15,941
il Padrino Ute is an unknown quantity at this point
Default

Quote:
Originally Posted by landpoke View Post
Who the hell does their own taxes? You must be poor.
Exactly.

My best friend since junior high school is a CPA and has his own tax and accounting firm. I just shove everything into a box and take it to him to figure it out. He's a genius. (It also helps to have 4 kids).
__________________
"The beauty of baseball is not having to explain it." - Chuck Shriver

"This is now the joke that stupid people laugh at." - Christopher Hitchens on IQ jokes about GWB.
il Padrino Ute is offline   Reply With Quote
Old 04-14-2008, 08:47 PM   #22
Jeff Lebowski
Charon
 
Join Date: Jan 2006
Location: In the heart of darkness (Provo)
Posts: 9,564
Jeff Lebowski is on a distinguished road
Default

Quote:
Originally Posted by DrumNFeather View Post
Is there a general reason as to why people wait or file an extension? (Like a benefit of some kind?) or do they just do it because that option is available to them?
Unresolved issues on a K-1. Accountant and attorney are too busy to deal with it now.
__________________
"... the arc of the universe is long but it bends toward justice." Martin Luther King, Jr.
Jeff Lebowski is offline   Reply With Quote
Old 04-14-2008, 08:48 PM   #23
cougjunkie
Senior Member
 
cougjunkie's Avatar
 
Join Date: Jan 2006
Location: Utah
Posts: 5,741
cougjunkie is an unknown quantity at this point
Default

Quote:
Originally Posted by DrumNFeather View Post
Is there a general reason as to why people wait or file an extension? (Like a benefit of some kind?) or do they just do it because that option is available to them?
I usually do it because I dont want to pony up the 8k I owe.
__________________
LINCECUM!
cougjunkie is offline   Reply With Quote
Old 04-14-2008, 08:50 PM   #24
TripletDaddy
Senior Member
 
Join Date: Oct 2007
Location: Orange County, CA
Posts: 9,483
TripletDaddy can only hope to improve
Default

Quote:
Originally Posted by cougjunkie View Post
I filed an extension, I just did my taxes from 2005 and 2006, so I am at least two years out on 2007. Yes I will owe.
You do realize that an extension is only an extension to file, not to pay? If you owe for 2005 and 2006, you will have to pay penalties.
__________________
Fitter. Happier. More Productive.

"Everyone is against me. Everyone is fawning for 3D's attention and defending him." -- SeattleUte
TripletDaddy is offline   Reply With Quote
Old 04-14-2008, 09:02 PM   #25
cougjunkie
Senior Member
 
cougjunkie's Avatar
 
Join Date: Jan 2006
Location: Utah
Posts: 5,741
cougjunkie is an unknown quantity at this point
Default

Quote:
Originally Posted by TripletDaddy View Post
You do realize that an extension is only an extension to file, not to pay? If you owe for 2005 and 2006, you will have to pay penalties.
I already paid those penalties and my 2005 and 2006 taxes. I send in an estimated tax payment when I file my extension, I was just joking with Drum, like you said earlier the penalties are pretty minimal.

I try to send in estimated tax payments quarterly.
__________________
LINCECUM!
cougjunkie is offline   Reply With Quote
Old 04-14-2008, 09:08 PM   #26
BYU71
Senior Member
 
BYU71's Avatar
 
Join Date: Jan 2006
Posts: 5,084
BYU71 is an unknown quantity at this point
Default

Quote:
Originally Posted by DrumNFeather View Post
Is there a general reason as to why people wait or file an extension? (Like a benefit of some kind?) or do they just do it because that option is available to them?
I was told there is less likely an audit of an extended return. I have no idea if the person is right.
BYU71 is offline   Reply With Quote
Old 04-14-2008, 09:12 PM   #27
nikuman
Senior Member
 
nikuman's Avatar
 
Join Date: Dec 2006
Location: Somewhere between NYC and Houston
Posts: 625
nikuman is on a distinguished road
Default

I've had mine done since February (save NJ, which are done but need to be sent off tomorrow).

I am also on somebody's radar screen for an audit, probably. I would not be surprised.
nikuman is offline   Reply With Quote
Old 04-14-2008, 09:33 PM   #28
il Padrino Ute
Board Pinhead
 
il Padrino Ute's Avatar
 
Join Date: Jan 2006
Location: In the basement of my house, Murray, Utah.
Posts: 15,941
il Padrino Ute is an unknown quantity at this point
Default

Quote:
Originally Posted by Jeff Lebowski View Post
Unresolved issues on a K-1. Accountant and attorney are too busy to deal with it now.
I have problems with a K-1 every year, though it's almost always waiting for an accountant to get it to me. I'd love to be able to fire the accountant who is responsible, but because it has nothing to do with me and everything to do with my wife and her family, there is nothing I can do.
__________________
"The beauty of baseball is not having to explain it." - Chuck Shriver

"This is now the joke that stupid people laugh at." - Christopher Hitchens on IQ jokes about GWB.
il Padrino Ute is offline   Reply With Quote
Old 04-14-2008, 10:10 PM   #29
hyrum
Senior Member
 
hyrum's Avatar
 
Join Date: Jul 2006
Posts: 860
hyrum is on a distinguished road
Default

Quote:
Originally Posted by BYU71 View Post
I was told there is less likely an audit of an extended return. I have no idea if the person is right.
This is consistent with what I have heard. I read that the IRS picks returns out as they come in and by the time they get to early April they have pretty much maxed-out the returns that they can handle in a year. So filing in the last week also decreases your chances. That said, if yours comes in with some big red flag deduction they are probably not going to ignore it -- plus the automated checks that they do (comparing w2's, 1099's, etc).
hyrum is offline   Reply With Quote
Old 04-16-2008, 10:30 PM   #30
RockyBalboa
Senior Member
 
Join Date: Jan 2006
Location: Salt Lake City
Posts: 7,297
RockyBalboa is an unknown quantity at this point
Send a message via MSN to RockyBalboa
Default

I did mine online last night when I got home from work.

I hate doing my taxes, and usually wait until the last minute. Oh well, I won't complain since I'm getting a decent chunk of change back.
__________________
Masquerading as Cougarguards very own genius dumbass since 05'.
RockyBalboa is offline   Reply With Quote
Reply

Bookmarks

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT. The time now is 05:21 PM.


Powered by vBulletin® Version 3.8.2
Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.