Southern California - 2007 Taxes

Have you done your 2007 Tax filing yet?




I have. Completed yesterday, 14.02.08, dropped in the mail this morning.
Done. :D

Sent all my documents to my accountant last week. I will have to pay alot of state taxes this year, since I've had more independent local sales than usual. :(

Sent all my documents to my accountant last week. I will have to pay alot of state taxes this year, since I've had more independent local sales than usual. :(

I told you to only sell on eBay but you wouldn't listen.

Done on 2/4, Got my refund this morning - yay!!

Pretty big one too. Due to changing jobs mid-year, I overpaid.

File last Thursday and just got the refunds this morning. Hello Powertap!

I dropped my stuff at the barber shop Friday and stopped in to sign them on Monday. The barber is a good tax guy.

So your barber does your taxes? Does that mean your accountant cuts your hair?

So your barber does your taxes? Does that mean your accountant cuts your hair?I think the barber owns the shop so he can get out of the house and talk to people. He's mostly an accountant.

My wife does our taxes and cuts my hair. She is a licensed cosmetologist.

didn't even started, but the goal this is is a refund that will get me a new bike.

Got my state within a week of transmitting the paperwork. Fed should be here soon.

The Economic Stimulation package signed by Bush will get you more money back in May but it assumes you have already filed the 2007 taxes. So those who file extensions, won't get the money way after filing.

I will file my corporate return next month. With automatic extension I usually file my personal return during the summer. Any overpayment gets carried over as credit for the following year.

I'm looking forward to doing several again this year. Friends and family, doncha know.

I have to wait for my accountant sis to get my stuff from the Canadian side; then do a merge. The good thing with having an accountant in the family is that he/she can do your taxes. The bad thing is that the family ones won't be done until the end. :p

I think the barber owns the shop so he can get out of the house and talk to people. He's mostly an accountant.

Kinda like my pet sitters-- it's a couple and one of them is a CPA who mostly does accounting around tax time.

I have a good friend doing mine for me. I won't be getting a large refund, but I won't owe either. With my 401k contributions and my charitable contributions, I come out fairly even - even though I claim 2 dependents.

I have to wait for my accountant sis to get my stuff from the Canadian side; then do a merge. The good thing with having an accountant in the family is that he/she can do your taxes. The bad thing is that the family ones won't be done until the end. :p

You have to do both US and Canada taxes? Does your sister do cross border taxes for other people too?

I have a good friend doing mine for me. I won't be getting a large refund, but I won't owe either. With my 401k contributions and my charitable contributions, I come out fairly even - even though I claim 2 dependents.

2?

2?Her bikes.

My mom does my taxes. It's nice that she's a retired accountant. :D

It'll be enough to pay for the remainder of my current bike build and give me a good start on getting some HED3 wheels. :)

Her bikes.

:rolleyes:

You can claim up to 2 if you are single (1) and claim yourself as a dependent, solely financially responsible for your household (2). Most people don't do it as they are nervous that they'll owe at the end of the year. I look at it like this - do you want the government to hold your money for you without earning any interest or do you want to invest your money as you see fit, maybe owing a little at the end of the year? I’m good at saving (at least in the last couple of years), and I’d rather put that money toward my 401k, which brings me down a little on taxes anyway, so generally I end up owing the State around $60, but getting $30 back from the Feds.

^^^^ Good point!!

You have to do both US and Canada taxes? Does your sister do cross border taxes for other people too?Yes.

No, sorry. My sister already hates me for making her check the US/Canada tax stuff. The tax rules between the two countries don't match, with many grey areas that it's impossible to know what the proper reporting procedure is. I have my Canadian investments/RRSP's in zero-transaction state because I was told by multiple sources (friends and experts) that doing so will be a non-black-and-white tax nightmare. I'm not sure if that's 100% accurate, but I followed their advices.

Return of 14g's. The one good thing about owning a house you can't afford is the write off of interest.

yup. all done and getting a pretty tasty return. no plans for any new bikes or anything though.

The one good thing about owning a house you can't afford is the write off of interest.
Which will eventually disappear...

I am still waiting on a form from an investment company.... they have until Monday to get it to me before I sick the IRS on them...

after I get that one form, my taxes will be completed inside 24 hours and I am hoping for a $2k return this year... being out of work gives you MANY deductions!!! :D

Haven't even touched mine yet or even opened the w4 stuff yet

Haven't even touched mine yet or even opened the w4 stuff yet....exactly, what's the rush? We have until Oct 15 to file....:p

Still waiting on K-1's - they'll probably get to me the week before the 15th.

Doing them next sat....thats why I have to cut the GMR ride short....

Filed on Monday.

Works out that my auto ins. renews right around tax-time, and is enough to pretty much wipe out my refund.

I pay the whole premium at once because, although their rates are generally good (I've never been able to beat them when I've shopped around for insurance.), AAA reams you on finance charges if you opt for an installment plan. Think they actually got sued, a few years ago, for failing to disclose the finance charges in their policy documents.

Pro: One less monthly bill. No dipping into savings to pay premium.

Con: No cash for shiny new bike toys :(

I hope these rebates are not subject to IRS attack. I mean some people have made agreements with the IRS to pay back taxes in installments. Some of these people were out of luck, loss of job, serious illness. Others were financially irresponsible. So its a mixed bag.

I hope these rebates are not subject to IRS attack. I mean some people have made agreements with the IRS to pay back taxes in installments. Some of these people were out of luck, loss of job, serious illness. Others were financially irresponsible. So its a mixed bag.

One thing about the IRS
They can and will take it wherever it is.
you can bet your Ass they attach the rebate and keep it..

" Sir, that 5000 you owe us, we took the 600 rebate and applied it.
Now you only owe us 4900. Interest you know"


My taxeswent to the accountant and should be done shortly.
I never got a refund until I started having someone else do them.
Not surethe difference, other thatn now I pay her and get a refund check.