Taxes Done -Ouch
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Taxes Done -Ouch (by Ray-N-Pa [PA]) Mar 24, 2023 12:24 PM
       Taxes Done -Ouch (by Ray-N-Pa [PA]) Mar 24, 2023 12:25 PM
       Taxes Done -Ouch (by Vee [OH]) Mar 24, 2023 12:43 PM
       Taxes Done -Ouch (by Jim in O C [CA]) Mar 24, 2023 12:44 PM
       Taxes Done -Ouch (by S i d [MO]) Mar 24, 2023 12:46 PM
       Taxes Done -Ouch (by Pat [VA]) Mar 24, 2023 12:55 PM
       Taxes Done -Ouch (by WMH [NC]) Mar 24, 2023 1:20 PM
       Taxes Done -Ouch (by MikeA [TX]) Mar 24, 2023 2:02 PM
       Taxes Done -Ouch (by Mapleaf18 [NY]) Mar 24, 2023 4:36 PM
       Taxes Done -Ouch (by Deanna [TX]) Mar 24, 2023 6:56 PM
       Taxes Done -Ouch (by 6x6 [TN]) Mar 24, 2023 7:19 PM
       Taxes Done -Ouch (by Homer [TX]) Mar 24, 2023 7:30 PM
       Taxes Done -Ouch (by DJ [VA]) Mar 24, 2023 8:32 PM
       Taxes Done -Ouch (by ned [AL]) Mar 24, 2023 9:51 PM
       Taxes Done -Ouch (by MMIT [VA]) Mar 25, 2023 7:59 AM
       Taxes Done -Ouch (by Wilma [PA]) Mar 25, 2023 9:16 AM
       Taxes Done -Ouch (by zero [IN]) Mar 25, 2023 9:47 AM
       Taxes Done -Ouch (by zero [IN]) Mar 26, 2023 6:45 PM
       Taxes Done -Ouch (by BRAD 20,000 [IN]) Mar 26, 2023 11:38 PM
       Taxes Done -Ouch (by BRAD 20,000 [IN]) Mar 26, 2023 11:39 PM
       Taxes Done -Ouch (by tryan [MA]) Mar 28, 2023 9:25 AM
       Taxes Done -Ouch (by plenty [MO]) Mar 28, 2023 11:42 AM
       Taxes Done -Ouch (by zero [IN]) Mar 29, 2023 7:34 AM


Taxes Done -Ouch (by Ray-N-Pa [PA]) Posted on: Mar 24, 2023 12:24 PM
Message:

Well I just got my taxes back today. OWWWWWWWW

2022 was a great year for real estate, but it will be also a record year for taxes that I owe. The great news - I am single handedly buying the govt a Model 3 Tesla and they still get change back.

Sadly this is even with doing tax exchanges.

--24.101.xxx.xxx




Taxes Done -Ouch (by Ray-N-Pa [PA]) Posted on: Mar 24, 2023 12:25 PM
Message:

How is everyone coming along with their taxes? Hope they are less painful than my return --24.101.xxx.xxx




Taxes Done -Ouch (by Vee [OH]) Posted on: Mar 24, 2023 12:43 PM
Message:

2022 not a good year for me, 2023 is going to be the next sell down year. --76.190.xxx.xxx




Taxes Done -Ouch (by Jim in O C [CA]) Posted on: Mar 24, 2023 12:44 PM
Message:

Mine are done. With some major projects in 2022 Joe will have to do with less from me. --99.23.xxx.x




Taxes Done -Ouch (by S i d [MO]) Posted on: Mar 24, 2023 12:46 PM
Message:

So the Govt finally got you paying your "fair share" this year.... *grins

I hear you. I haven't gotten mine back yet, but I'm expecting a similar "ouch". Even with 1031, it was a banner year and I wasn't able to wrap everything into tax free/delayed sales. The price of success, right?

--184.4.xx.xxx




Taxes Done -Ouch (by Pat [VA]) Posted on: Mar 24, 2023 12:55 PM
Message:

We just dropped ours off at the CPA Wednesday. I have a feeling we will pay more. It was best year for income.

We did have one new one we added.

--47.133.xxx.xxx




Taxes Done -Ouch (by WMH [NC]) Posted on: Mar 24, 2023 1:20 PM
Message:

We filed an extension, usually do. I want our CPA to have a moment to breathe while looking over our stuff...We've paid in a bunch based on last year's estimates but I suspect we'll owe more... --50.82.xxx.xxx




Taxes Done -Ouch (by MikeA [TX]) Posted on: Mar 24, 2023 2:02 PM
Message:

Already filed. Getting some back this year, last year was our painful year selling a long held property without exchange. CPA had us overpaying estimates, took some stock losses, and made some sizeable philanthropic donations. Getting enough back to do another nice European cruise later this year. --138.84.xx.xxx




Taxes Done -Ouch (by Mapleaf18 [NY]) Posted on: Mar 24, 2023 4:36 PM
Message:

Done. Being semi retired I had more time to work on them. 2021 was better for me. --172.58.xxx.xxx




Taxes Done -Ouch (by Deanna [TX]) Posted on: Mar 24, 2023 6:56 PM
Message:

I expected mine back the other week ago, but didn't hear anything. So I followed up on them when we got back from the kids' spring break. Turned out, there was a question they had-- that was answered right there on the page. :P We got that ironed out, and I picked them up for signatures today. Tried bringing them back--- perhaps they only work half a day on Friday? Will get them e-filed on Monday, woo.

DH loves giving Uncle Sam a free loan (vs the alternative), so he massively overpays with his quarterlies. So while we paid a tidy sum, we're also getting about 80% of it back. Then again, we're also talking more like Kia numbers, rather than Tesla numbers. Next year, we expect to get into Hyundai numbers. :P --137.118.xx.xxx




Taxes Done -Ouch (by 6x6 [TN]) Posted on: Mar 24, 2023 7:19 PM
Message:

Congratulations Ray.

That means you are a wealthy man, at least until the government got in there. --98.40.x.xxx




Taxes Done -Ouch (by Homer [TX]) Posted on: Mar 24, 2023 7:30 PM
Message:

I donít know what a Tesla cost, but I sent the guberment $62k for 2022. No w2 job just houses. They will have it spent in a nano second --47.32.xxx.xxx




Taxes Done -Ouch (by DJ [VA]) Posted on: Mar 24, 2023 8:32 PM
Message:

I need to call the Tax preparer's office - they've had the info for a while.

I'm "hoping" to get some $ back this year, since my quarterly payments were based on the previous year and (I believe) way too much. --68.229.xxx.xxx




Taxes Done -Ouch (by ned [AL]) Posted on: Mar 24, 2023 9:51 PM
Message:

sec 179 with the day business...wiped out all and $ back even with selling some property --74.132.x.xx




Taxes Done -Ouch (by MMIT [VA]) Posted on: Mar 25, 2023 7:59 AM
Message:

2022 rental income was great, plus was sold a house in 2022.

On top of that, we did our largest Roth conversion in 2022.

Based on my analysis, we will pay less taxes if we do the Roth conversions now than if we take RMDs from the IRAs as we get into our 70ís.

So another Tesla for the feds and a Kia for the state! --70.188.xx.xxx




Taxes Done -Ouch (by Wilma [PA]) Posted on: Mar 25, 2023 9:16 AM
Message:

I play a game with myself, trying to get as close to the bottom line of "we don't owe them and they don't owe us". I was annoyed this year to find that I had overestimated quarterly payments due to a traditional IRA to Roth conversion - but that $500 overpayment will just go to 2023 quarter one.

Guess I should go back over the program and get that thing submitted - been busy since I first went through the tax program interview 3 weeks ago.

Congrats on a good year, Ray! --96.245.xx.xx




Taxes Done -Ouch (by zero [IN]) Posted on: Mar 25, 2023 9:47 AM
Message:

Happy and sorry to hear about your taxes Ray.

Mine should have been done a week or so ago. I need to look into that so I can find where to get the money I am sure to owe. --107.147.xx.xxx




Taxes Done -Ouch (by zero [IN]) Posted on: Mar 26, 2023 6:45 PM
Message:

Well my tax guy emailed me back apologizing because his records show he left a voicemail a while back.

Turns out my phone is not displaying when I get voicemails. Ouch.

I missed out talking to six different people that were from the hardship department. I didn't even know I was in a bad way. Maybe they know about my taxes?

Headed there tomorrow to see the damage. --107.147.xx.xxx




Taxes Done -Ouch (by BRAD 20,000 [IN]) Posted on: Mar 26, 2023 11:38 PM
Message:

RayRay,

Same as WMH here - the preparer works up solid estimates each quarter bu we file an Extension every year. Takes the pressure off while she scrambles with her other clients and gives her time to dig DEEP to save me money.

My normal tax bill is larger than my GROSS income when I had a job.

I DO appreciate what is left over.

BRAD --73.103.xxx.xxx




Taxes Done -Ouch (by BRAD 20,000 [IN]) Posted on: Mar 26, 2023 11:39 PM
Message:

PS

Back when I had a job I DREAMED of making 6 figures.

Never thought Iíd be PAYING 6 figures!

BRAD --73.103.xxx.xxx




Taxes Done -Ouch (by tryan [MA]) Posted on: Mar 28, 2023 9:25 AM
Message:

Selling the last one in the hood has a 5 figure tax bill here. I anticipated it before the sale and pumped a bunch of cash into a lake front vacation rental I plan to move to this year.

WO those deductions it could have been much worse. --198.168.xx.xxx




Taxes Done -Ouch (by plenty [MO]) Posted on: Mar 28, 2023 11:42 AM
Message:

Agree with 6x6 this puts you in another class! Let's lunch! --172.59.xxx.xxx




Taxes Done -Ouch (by zero [IN]) Posted on: Mar 29, 2023 7:34 AM
Message:

Went in and got my paperwork back.

First year in a while that I don't owe anything. Not overly happy with the amount of interest free loans I supplied both state and federal, but given the last month's bad luck I guess I am happy I at least didn't owe the amount instead.

Very tiny numbers compared to what others are saying, but I'm still in my growth stage.

Not even Kia numbers but rather an old used Pontiac maybe. With mismatched fenders and torn interior. --107.147.xx.xxx





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