I am going to start with my income tax return on TurboTax
No, don't have all the forms and, anyway, the IRS is working at limited capacity, I think.
But starting a few years ago I decided to at least start the return so it is I, not a fake ID working on it. At least, I hope so.
So I can enter names, address, SS numbers, marital status, dependent and, as I've noticed last year "not deceased..."
unblock
(54,150 posts)At least, as of December 31, 2018...
A HERETIC I AM
(24,583 posts)I haven't gotten my W-2 yet (of course) but I entered as much income and tax info as I could off my end of the year pay stub.
At least I have an idea of the refund I can look forward to.
They took away the per diem deduction for Transportation Workers, but the increase in the personal deduction looks like it offsets the difference, at least for the most part, anyway.
I've used Turbo Tax for years now, and I like the fact that you can always go back and easily edit information any time before filing.
(edit)...OH...and I'm not dead yet, either! I don't want to go on the cart! I'm feeling better. I want to go for a walk.
progree
(11,463 posts)Is that related to working expenses? Or something else? They got rid of the personal and dependent exemptions, which were $4050 per person in 2017.
A HERETIC I AM
(24,583 posts)And I knew I might have had it wrong when I posted!
What I should have said is the Standard Deduction, which almost doubled for individuals.;
https://www.forbes.com/sites/kellyphillipserb/2018/03/07/new-irs-announces-2018-tax-rates-standard-deductions-exemption-amounts-and-more/#569d47ad3133
progree
(11,463 posts)$12,000 in 2018, an improvement of $5,650. But lost the personal exemption or $4,050. For a net gain of $5650-4050 = $1,600 as far as a reduction in income. (Assuming the taxpayer took/takes the standard deduction in both years).
For Married Filing Jointly, double all the numbers above.
If with children: the dependent exemptions are gone ($4,050 each) but the child tax credit has doubled to up to $2,000 per child. Which might or might not be an improvement depending on the person's marginal tax rate (the tax credit reduces one's taxes dollar for dollar, while the dependent exemption reduces one's taxable income, for a benefit of $4,050 * marginalTaxRate).
progree
(11,463 posts)When two people (the real taxpayer and the scammer using your ID) file taxes, it's the second person to file that is likely to get a delayed refund (or hopefully none at all if it is the scammer).
I'll be doing my taxes on Turbo Tax this year for the first time. I've had a tax preparer do my taxes for 35 years, but the last 2 years, especially last year, has been a comedy of errors on his part (I check returns thoroughly and don't sign them until they are correct).
question everything
(48,797 posts)rejected.
I like TurboTax. Has been using it since.. 2000 when I first discovered it.
I do like numbers so before that I used to do it on my own.
(Many years ago, when I first stared, I told a broker and I was an intelligent person who could follow instructions. Aha, he added, you assumed that these instructions were aimed at intelligent people...)
Several years ago, we sold a house in a different state that was a rental, so went to CPA. And, yes, at the end, I was right and he was wrong and as he looked at all the papers spread around and that he had to change - it was on the first page - he just nodded at all the trees that had to die..
IronLionZion
(46,965 posts)I imagine there are few folks who lived their lives in such a way that their accounts are empty and their last check bounces when they kick the bucket.