Especially now. With the SALT cap I can't even play around with the Schedule A. Sold my rental property a few years back
I should go back to a paper form that I pick up from the library. It's that straight forward now.
2020 Taxes
- Thread starter Trice
- Start date
Especially now. With the SALT cap I can't even play around with the Schedule A. Sold my rental property a few years back
I should go back to a paper form that I pick up from the library. It's that straight forward now.
Tuition and Textbook Credit (K-12 Only) | Iowa Department Of Revenue
Back to Expanded Instructions Index Taxpayers who have one or more dependents attending Kindergarten through 12th grade in an accredited Iowa school may take a credit for each dependent for amounts paid for tuition and textbooks. Dependents must have attended a school in Iowa that is...
The wife does our taxes because she's a glutton for punishment. We got a pretty good bonus this year somehow and we ended up getting bumped up into the next tax bracket but we're just barely there so it's looking like our take home is going to be less this year than last year.
Last year, thanks to tRump's fabulous tax cuts, I ended up paying to the Feds for the first time ever. Wasn't that special?
So I changed my withholding, had a decent refund this year. They're gonna get it one way or another..........
So I changed my withholding, had a decent refund this year. They're gonna get it one way or another..........
I'm aware, our pre-tax went up just enough to go over the line to the next bracket by a couple hundred dollars or so. Last year we ended up getting about $1500 back between state and federal, we owe about that much now. Part of that is we're into the bracket that we can't claim student loan interest anymore apparently.
I don't think they get it. Getting bumped into the next bracket is not affecting your refund that much. That couple hundred dollars is all that is taxed at the higher rate.
Pay H&R Block some money or do it ourselves on HR Blocks site/Turbo Tax for next to nothing? Married, filing jointly. One child. Nothing too crazy, but at the same time don't want to miss anything.
Bonus probably didnt get taxed at a high enough % so they are now getting hit on their return. Govt always get their money.
It's because our bonus bumped us up to a bracket where we can't deduct student loan interest. We always set up the bonus to take out as much as we can so that doesn't hit us.
After your household income is over $170k you can't deduct student loan interest anymore.
Why would you pay HR Block? they are biggest ripoff out there. If I charged HR Blocks rates I wouldn't have any clients, and I actually know tax stuff and not just take a weekend class to learn how to use their software. They are predatory towards people who don't know any better.
Whoa whoa whoa Intuit would like a word.
Find a local CPA who kind of has their own one or two person show. You'll get the same or maybe even a better price AND you'll get someone who actually knows what the hell they're doing. The national franchises are just marketing machines for pumping out returns to collect franchise fees that are wrong about half the time if they involve anything more than a W-2.
Ever tried to get help in one of the national franchise offices between 4/15 and 1/15? Your local CPA or even EA is working on those days and will help you if something comes up.
I was talking about the HR Block physical places. I don't really comment on the different online do it yourself options since I don't have experience with them
I just know that for HR Block to charge a husband and wife who each have 1 W2 and a 1098 $350 is absolutely disgusting.
Honestly that just where I went for the first 4-5 years of living on my own, before I did know better. I was in college, so basically all I ever had was a w2 from my part time job and the college tuition deduction or w/e it's called. The last 4-5 years I have done it on Turbo taxes site or HR Block's site for free or basically free each time. I guess forget the HR Block part of my question and replace it with "tax pro, accountant, advisor etc." My big thing is I don't like to leave stones unturned and I feel like I'm more likely to leave stones unturned than someone who does it for a living. But if my situation is simple enough, why pay anyone?
Here's a question for tax pros. What is the purpose of having both tax brackets and tax tables?
By tax brackets, I mean the things the IRS and Iowa Department of Revenue publishes every fall for the upcoming tax year that list the income ranges for each tax rate. Then when you actually do your taxes, they publish pages upon pages of tax tables, where you can simply look up what you owe based on your taxable income.
Given the same taxable income, both the tax brackets and tax tables produce the same result, within a couple dollars or so. So are the tax tables simply to save people from the complicated math of calculating your tax owed via the tax bracket?
By tax brackets, I mean the things the IRS and Iowa Department of Revenue publishes every fall for the upcoming tax year that list the income ranges for each tax rate. Then when you actually do your taxes, they publish pages upon pages of tax tables, where you can simply look up what you owe based on your taxable income.
Given the same taxable income, both the tax brackets and tax tables produce the same result, within a couple dollars or so. So are the tax tables simply to save people from the complicated math of calculating your tax owed via the tax bracket?
I ****** up on my W-4 last year and owed last tax season. Not this year! Getting a decent return thankfully.
by the way, if you have a simple W-2 form there’s no reason for you to go pay a tax expert 80 dollars to do your taxes. I’ve been doing mine for free on TurboTax for the last 5 years now. They make it so simple to do on your own.
by the way, if you have a simple W-2 form there’s no reason for you to go pay a tax expert 80 dollars to do your taxes. I’ve been doing mine for free on TurboTax for the last 5 years now. They make it so simple to do on your own.