Taxes done!

[msomnipotent]

We finally got our state refund. I have no idea why it was delayed, but I should feel lucky to get anything back considering it is IL.

[Singuy]

Just got some good news from our CPA. I thought we were going to owe 6-7k but ended up with a 8k refund. No matter how much I learn about taxes, I still don't get it.

16% effective tax rate on 360k gross earned is pretty sweet. 25% of effective tax rate on 260k post deductions.

[disneysteve]

No matter how much I learn about taxes, I still don't get it.

You and me both. The years I think we'll get hammered, we get a refund. The years I think we're in good shape, we get hammered. That's why I always have a CPA do the work for us. Too many variables. Too many things to be aware of. Too many possible errors to make.

[FLA]

Just got some good news from our CPA. I thought we were going to owe 6-7k but ended up with a 8k refund. No matter how much I learn about taxes, I still don't get it.
.

that is awesome!

[QuarterMillionMan]

I wait towards the end because every year I owe being single and having no kids. This year was no different. I used free tax usa although it's not necessarily free being that I chose the deluxe plan being able to make amendments if needed for an additional $5.95 (for the Fed form).

Fed, I owe $1900
CA, refund $40
Hawaii, I owe $250

[Jluke]

For the first time ever, I paid a CPA to do my taxes ($250) because I had stock options, sold a MLP fund that reported on a K-1, and 2 other stock/ETF transactions. I knew the documentation wasn't as simple and I didn't feel it was worth my time to figure it all out.

I "worked" hard this year to ensure I wouldn't owe as much on federal and it went as I hoped.

I actually got a $27 refund from fed (compared to owing ~$500 last year).

I owed the state $34 (normal).

$0 on local.

[Fishindude77]

Paying quarterly being self employed is always a crap shoot.
Overpaid the quarterly's and getting a significant refund this year.

[disneysteve]

Paying quarterly being self employed is always a crap shoot.
Overpaid the quarterly's and getting a significant refund this year.

Last year, we had a particularly large state tax bill due to investment gains. It was a one-time event but it triggered the system to have us make quarterly estimates in 2015. I paid them as scheduled, knowing that I'd probably overpay, and I did, but it was only a few hundred dollars so not a huge deal.

[Fishindude77]

We run an "S" Corporation where company income is considered personal income, based on what percentage of the company you own. Can have pretty wide variations month to month, quarter to quarter in income, so it's always tricky estimating quarterly's.