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Post by Deleted on Mar 1, 2019 11:56:07 GMT -5
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Post by clarencebunsen on Mar 1, 2019 13:27:14 GMT -5
I started doing my taxes this week. Usually I can enter everything into Turbo Tax in an afternoon. This year Barb wanted my to show her how to do it. No reason she couldn't. After all she has a Masters in Health Care Administration and is more skilled in setting up spreadsheets than I am.
It seems like they have gotten more complicated in recent years. Part of that is that we get little bits of income from multiple places. My mother had a small annuity when she died. Divided 8 ways and paid out over 5 years has meant getting a check for about $145 right around Mother's Day each year. From my father's estate I inherited a share of the mineral rights on a property in North Dakota. The Hunt oil company pumps oil from it whenever the price of oil gets high enough to justify the costs of pumping, transporting and refining it. This year my share was $37.
Barb took advantage of a provision in her life insurance policy to get long term care insurance. Even though we pay for the insurance somehow this was calculated to result in a benefit of $232 to her. Each of these items resulted in another entry in the income portion of the form. Barb got pretty bored watching me trying to read the numbers in tiny boxes and left to make dinner.
I got tired of it myself and quit before entering the deduction stuff like real estate taxes. I'm pretty sure that it is going to tell me that the standard deduction is better anyway.
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Post by Deleted on Mar 1, 2019 16:56:45 GMT -5
Good luck. My Sister got close to $2,000 back. I do not know how she does that yes her and her husband own a large house on Albany Hill. Who knows!
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Post by BHU on Mar 1, 2019 17:16:25 GMT -5
That bill will never pass because of the provision raising the income level on social security taxes. The wealthy will scream bloody murder & that will be the end of that. No way in hell will Republicans in congress support that.
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Post by clarencebunsen on Mar 1, 2019 21:28:11 GMT -5
I finished this afternoon. Minimal returns from state and feds which was my goal. Large refunds are for those who say, "Why should I study math, it has no real life applications?"
I could go with eliminating the caps on contributions on SS if it was linked to eliminating the caps on benefits. I have a problem with asking someone to contribute 10 times as much with no increase in returns. I think I only hit the cap once and Barb did a few times toward the end of her career. We definitely hit a cap on what we get from SS.
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Post by Deleted on Mar 1, 2019 22:16:54 GMT -5
That bill will never pass because of the provision raising the income level on social security taxes. The wealthy will scream bloody murder & that will be the end of that. No way in hell will Republicans in congress support that. Hey you never know! |
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Post by Deleted on Mar 1, 2019 22:18:01 GMT -5
I finished this afternoon. Minimal returns from state and feds which was my goal. Large refunds are for those who say, "Why should I study math, it has no real life applications?" I could go with eliminating the caps on contributions on SS if it was linked to eliminating the caps on benefits. I have a problem with asking someone to contribute 10 times as much with no increase in returns. I think I only hit the cap once and Barb did a few times toward the end of her career. We definitely hit a cap on what we get from SS. You talk like a banker or accountant! Be Blessed! |
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