Comments on: The First Part of the Taxes is Done… http://financefreelancelife.com/2008/03/27/getting-my-taxes-done-with-tax-cut/ Sat, 20 Mar 2010 15:34:03 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: Pamela http://financefreelancelife.com/2008/03/27/getting-my-taxes-done-with-tax-cut/#comment-15576 Pamela Fri, 28 Mar 2008 21:47:28 +0000 http://financefreelancelife.com/2008/03/27/getting-my-taxes-done-with-tax-cut/#comment-15576 I've used the free online tax programs to file federal taxes the last couple years and I really like them (save for a few miscellaneous issues). I haven't liked them nearly as well for state taxes, and just do those on my own. I end up calculating deductions and credits that our state tax booklet mentions but the program misses. This year, thanks to the tax program I'm using, I discovered that not only can we get credit for any out-of-pocket money we paid towards my schooling, we can also get credit for the student loans we've taken out. Getting that credit took our tax bill from owing about $1500 to getting a $100-something refund! So for you students - check the credits and deductions you can take for school-related expenses (including loans taken out). I’ve used the free online tax programs to file federal taxes the last couple years and I really like them (save for a few miscellaneous issues). I haven’t liked them nearly as well for state taxes, and just do those on my own. I end up calculating deductions and credits that our state tax booklet mentions but the program misses. This year, thanks to the tax program I’m using, I discovered that not only can we get credit for any out-of-pocket money we paid towards my schooling, we can also get credit for the student loans we’ve taken out. Getting that credit took our tax bill from owing about $1500 to getting a $100-something refund! So for you students – check the credits and deductions you can take for school-related expenses (including loans taken out).

]]> By: mrsmicah http://financefreelancelife.com/2008/03/27/getting-my-taxes-done-with-tax-cut/#comment-15567 mrsmicah Fri, 28 Mar 2008 16:28:10 +0000 http://financefreelancelife.com/2008/03/27/getting-my-taxes-done-with-tax-cut/#comment-15567 @deepali, I'll definitely get your opinion before we go out. :) @ Ms. M&P...I don't remember offhand. I asked the HR rep what the conservative option would be and worked with her recommendation. @FB. Exactly! I've got a nice saved file on my computer while I await the final W-2. @deepali, I’ll definitely get your opinion before we go out. :)

@ Ms. M&P…I don’t remember offhand. I asked the HR rep what the conservative option would be and worked with her recommendation.

@FB. Exactly! I’ve got a nice saved file on my computer while I await the final W-2.

]]> By: Fabulously Broke http://financefreelancelife.com/2008/03/27/getting-my-taxes-done-with-tax-cut/#comment-15565 Fabulously Broke Fri, 28 Mar 2008 15:58:01 +0000 http://financefreelancelife.com/2008/03/27/getting-my-taxes-done-with-tax-cut/#comment-15565 I love tax softwares now. It's much easier to do them. Either that, or use an accountant, but tax softwares are cheaper... I'd prefer to buy the software and save it, over doing it online because you can't really fix things online and/or you're not careful in entering numbers vs. a software and taking 2 weeks to really make sure it's OK I love tax softwares now. It’s much easier to do them. Either that, or use an accountant, but tax softwares are cheaper… I’d prefer to buy the software and save it, over doing it online because you can’t really fix things online and/or you’re not careful in entering numbers vs. a software and taking 2 weeks to really make sure it’s OK

]]> By: ms. m&p http://financefreelancelife.com/2008/03/27/getting-my-taxes-done-with-tax-cut/#comment-15564 ms. m&p Fri, 28 Mar 2008 15:57:25 +0000 http://financefreelancelife.com/2008/03/27/getting-my-taxes-done-with-tax-cut/#comment-15564 I think treating yourselves to dinner is a great idea. There are so many good restaurants in the area. I also support the Roth. If you can afford to part with the cash, Roths seem to be the supported by the consensus. Do you mind sharing what your withholding was for 2007 and what you think it will be for 2008? I'm still trying to figure it out. The calculators tell me 5, but that seems awfully high. I think treating yourselves to dinner is a great idea. There are so many good restaurants in the area. I also support the Roth. If you can afford to part with the cash, Roths seem to be the supported by the consensus.

Do you mind sharing what your withholding was for 2007 and what you think it will be for 2008? I’m still trying to figure it out. The calculators tell me 5, but that seems awfully high.

]]> By: deepali http://financefreelancelife.com/2008/03/27/getting-my-taxes-done-with-tax-cut/#comment-15547 deepali Fri, 28 Mar 2008 10:39:06 +0000 http://financefreelancelife.com/2008/03/27/getting-my-taxes-done-with-tax-cut/#comment-15547 Yum, Ethiopian. I say go for it. I live in Little Ethiopia, and I can recommend some very good (and inexpensive) places. You won't have to feel guilty about the $20 splurge (even more so since the cheap spots are better than the expensive ones!). And my second vote is the Roth. :) Yum, Ethiopian. I say go for it. I live in Little Ethiopia, and I can recommend some very good (and inexpensive) places. You won’t have to feel guilty about the $20 splurge (even more so since the cheap spots are better than the expensive ones!).

And my second vote is the Roth. :)

]]> By: Mark http://financefreelancelife.com/2008/03/27/getting-my-taxes-done-with-tax-cut/#comment-15542 Mark Fri, 28 Mar 2008 07:42:54 +0000 http://financefreelancelife.com/2008/03/27/getting-my-taxes-done-with-tax-cut/#comment-15542 My wife and I have taken a big advantage of Tax Cut this year.The name of our Tax Cut software was "Turbo Tax" We got back $3,700 federal and $941 State. You know what? Come to think of it, We have yet to recieve our thank you letter in the mail from your Uncle and mine. hmmm. Maybe it will come tommorow. Since we aren't anticipating that letter. My wife has already sent in motion the plan that will discontinue allowing our Uncle the abiltiy to use our money interest free. We believe we can spend it better to manage our household expenses in the coming year. I'm justa saying! My wife and I have taken a big advantage of Tax Cut this year.The name of our Tax Cut software was “Turbo Tax” We got back $3,700 federal and $941 State. You know what? Come to think of it, We have yet to recieve our thank you letter in the mail from your Uncle and mine. hmmm. Maybe it will come tommorow. Since we aren’t anticipating that letter. My wife has already sent in motion the plan that will discontinue allowing our Uncle the abiltiy to use our money interest free. We believe we can spend it better to manage our household expenses in the coming year. I’m justa saying!

]]> By: Dad http://financefreelancelife.com/2008/03/27/getting-my-taxes-done-with-tax-cut/#comment-15537 Dad Fri, 28 Mar 2008 04:59:03 +0000 http://financefreelancelife.com/2008/03/27/getting-my-taxes-done-with-tax-cut/#comment-15537 I've been a fan of Tax Cut for several years now. Glad it works for you! I’ve been a fan of Tax Cut for several years now. Glad it works for you!

]]> By: Mom@wide open wallet http://financefreelancelife.com/2008/03/27/getting-my-taxes-done-with-tax-cut/#comment-15534 Mom@wide open wallet Fri, 28 Mar 2008 03:20:19 +0000 http://financefreelancelife.com/2008/03/27/getting-my-taxes-done-with-tax-cut/#comment-15534 Well congrats on getting some unexpected money. very cool! Well congrats on getting some unexpected money. very cool!

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