The Motley Fool Discussion Boards
Retirement Discussions / Retired Fools
|Subject: Re: Annual Income Taxes Done||Date: 3/31/2013 1:41 PM|
|Author: telegraph||Number: 18345 of 19021|
"I am thinking evil thoughts about the lot of you. Already got your return? Did it all on TurboTax? Paid no tax at all? A pox on all of you.
We came back from the accountant on Friday, weeping bitterly. She sez we owe the Feds about $9K. We must make a lot of money, because we pay a lot of tax. Somehow I don't see the "make a lot of money" part. My wife's small business, my RMD, etc all adds up, I suppose."
I did my taxes with H&R Tax Cut. Took about 3-4 hours. I had all the necessary paperwork in a folder. Wasn't missing anything. At least I think so.
I have to pay estimated taxes. Paid about 6% too much, so I get some back. Hard to guesstimate since you don't know what your funds will spin off, or if one or two raise dividends during the year.
Sounds like you should have been keeping up on estimates during the year. The IRS hates it when you 'owe' a lot at the end of the year, unless you had some big cap gains happening...or took your RMD at the end of the year - but then you should have sent in money in Jan.
Two weeks left for the procrastinators to get in gear and get done.
|Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|