Income Taxes - refund, pay or...

[jp1]

So for the past several years I have gotten a refund from the IRS for a few hundred dollars, and owed the state of CA a few hundred dollars. I was cool with that because I could just wait for the IRS refund and then use it to pay CA. Since I changed jobs last summer and got a decent salary increase I was not sure what to expect this year. Just finished my taxes and it turns out that I owe just over $200 to the IRS and $23 to the CA Franchise Tax Board. I'm pleased. And surprised at how well tax withholding table actually seem to work.

And also happy that my new employer's 401k administrator sent a coupon for $25 off of turbo tax.

How's everyone else's taxes going this year?

[sweetana3]

Pretty much the same as last year. We are within 1% pf the effective tax rate over last year. Thank heavens for Turbotax. Filed Federal electronically but our state charges us for electronic filing so we are either walking down a paper return or mailing it in.

[iris lilies]

We had several different income things happen this year so I don’t know where we will land with taxes. Last year was a sweet sweet year for federal taxation for this household. Although we did end up paying a surprising amount in state taxes.

DH just mailed our packet of information to our tax preparer yesterday.

[Tybee]

We have to get ours together and send to our wonderful lady. Thank you for reminder, we were supposed to have it done by last Friday.

[Teacher Terry]

We get a 100 back. My husband may have a engineering job soon and if so he will have to have taxes taken out as of right now I have it dialed in accurately for our pensions and my part time job.

[SteveinMN]

Our tax accountant retired after last year's tax season. Between that and ending up taking the standard deduction (wasn't even close compared to itemizing), we decided to take a stab at it this year with tax software. I don't have every single dollar in there yet, but the numbers look very much like last year's -- a few hundred bucks back from the IRS and less than a hundred to the state -- and we'll be ahead the few hundred dollars we'll save not paying an accountant. We may be back with an accountant next year, though, depending on what we do when DW retires.

[dmc]

I’m still trying to get 2017 straitened out. They say I still owe $3,700, I say I owe them about $800. I missed a 1099, my fault, but they have my cost basis as 0. I got a letter back in December and I reponded and sent the required info. Evidently they did not get my info, so today I got a letter saying I need to pay up or go to tax court. After talking with 3 different departments they took my info over the phone and they will send me a corrected bill in six weeks.

As to this year I owe a additional $4800 or so. I started getting SS and I guess I’ll need to have them withholding some from that.

This is the first year it looks like I won’t itemize thanks to the increased standard deduction. I’m going to have to look at when I make some payments that are deductible and get them into the same year.