TAX RETURN COMPLETED: And the result for the hard working, dedicated (and thorough) professional?

  • HndsmKansan

    Posts: 16311

    Mar 31, 2011 9:24 PM GMT
    SHIT!! More damn taxes due than I thought! I was off about $1,800.00
    Damn those self employment taxes!
    icon_evil.gif

    But I love what I do!
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  • HndsmKansan

    Posts: 16311

    Mar 31, 2011 9:53 PM GMT
    And yes... I contributed to my retirement plan and I kept track of every allowable expense... my mileage, my mortgage interest, my liability on my hospital stay last fall (which insurance didn't cover)... and my health insurance.. and every other expense I could deduct!
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    Apr 01, 2011 2:24 AM GMT
    I still haven't done mine yet. icon_sad.gif
  • HndsmKansan

    Posts: 16311

    Apr 01, 2011 2:31 AM GMT
    Well it's the return from my accountant, I turned in my forms about 3 weeks ago. I'm just frustrated because I pay estimated each quarter and even increase it if things are going well... it just wasn't enough. At least I didn't get a $6,000 bill like I did 3 years ago.
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    Apr 01, 2011 2:36 AM GMT
    property taxes? charitable contributions? personal property taxes?

    do you have a home office? Did you allocate utilities expense to your schedule C? Did you allocate part of your mortgage interest to schedule C or did you put it all on schedule A? It'll be a bigger benefit if you allocate part of it to schedule C. Did you compare prior year to current year return to capture everything?

    I haven't touched a tax return since I left one of the Big 4 but when I was with them, well lets just say we maximized their tax return.

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    Apr 01, 2011 2:38 AM GMT
    Doing mine now. You're right, the self-employment taxes are killer.
  • masculumpedes

    Posts: 5549

    Apr 01, 2011 2:38 AM GMT
    Already completed and received my refund. icon_wink.gif
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    Apr 01, 2011 2:42 AM GMT
    t..ax..es?
  • HndsmKansan

    Posts: 16311

    Apr 01, 2011 3:21 AM GMT
    AvadaKedavra saidproperty taxes? charitable contributions? personal property taxes?

    do you have a home office? Did you allocate utilities expense to your schedule C? Did you allocate part of your mortgage interest to schedule C or did you put it all on schedule A? It'll be a bigger benefit if you allocate part of it to schedule C. Did you compare prior year to current year return to capture everything?

    I haven't touched a tax return since I left one of the Big 4 but when I was with them, well lets just say we maximized their tax return.



    No home office .. mine is in a country club setting... so my rent is also an expense thats written off
  • Webster666

    Posts: 9217

    Apr 01, 2011 3:27 AM GMT
    Today, I mailed a check to the State of California.
    I already got back a big refund from the Feds.
    I'm not complaining.
  • HndsmKansan

    Posts: 16311

    Apr 01, 2011 3:29 AM GMT
    Webster666 saidToday, I mailed a check to the State of California.
    I already got back a big refund from the Feds.
    I'm not complaining.


    I wonder what a refund would be like....
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    Apr 01, 2011 3:31 AM GMT
    HndsmKansan said
    AvadaKedavra saidproperty taxes? charitable contributions? personal property taxes?

    do you have a home office? Did you allocate utilities expense to your schedule C? Did you allocate part of your mortgage interest to schedule C or did you put it all on schedule A? It'll be a bigger benefit if you allocate part of it to schedule C. Did you compare prior year to current year return to capture everything?

    I haven't touched a tax return since I left one of the Big 4 but when I was with them, well lets just say we maximized their tax return.



    No home office .. mine is in a country club setting... so my rent is also an expense thats written off


    well, you know, it is what it is. hopefully he used safe harbor when calculating your estimates so that you aren't penalized for under paying throughout the year.