First Draft 1040 Form, start tax planning!

I like that one part. If I had to worry about it I would have to cause a st ir...

See they got a line in there for "Amount you overpaid" and then one for "Am ount you would like refunded to you".

Now on that one line of course comes from tax records, but the other asks " How much would you like...".

Well the answer is obvious, I think I would like $ 17,000,000 this year. Th ank you. I will be awaiting the check.

Ha, onetime I had a dilemma, made too much and had W-2s, W-1099s and UI. I had three ways to figure it out, each would possibly get past them. One the y owed me money. Another was about even and the really right way I owed the m. So what's the best way to cheat on taxes ? Let the IRS do it. I wrote in big letters "DO IT FOR ME" and sent it in with all the forms n s*it, and t hey figured it out in my favor and included a check.

If they ever want to bug me and say I cheated what do you think I would say ? (I'm thinking "so sue yourself") :-)

I have not done a 1040 in *years* as it simply does not apply to me.

Robert Baer said,

Is that because of low income or you don't live in the US?

Mikek

The only thing that scares Americans more than a bunch of Arabic turristz is a bunch of Arabic numerals

Yes, I know that site is a spoof and that despite the amazing number of daft things Sarah Palin has said, the story is not true.

A German mayoral candidate apparently /did/ suggest banning them, however. Americans don't have a monopoly on ignorance!

Everyone should vote for that candidate and then insist all his personal finance and the town government accounting be done in e.g. Roman numerals from that point on. under penalty of death. Nobody likes a hypocrite.

Not fun! We just shipped a 2" stack of paper off to our accountants, to finish off last year's extension. I'd rather design electronics (and read books, and take walks) and pay them to them do the paperwork.

Yes, I do have a tax prep guy which I have found is not the same as a tax planner. I only pay $600 to my tax prep guy, I once got a tax planner quote and it was over $3,000. What I have learned so far is, I should have sold some Long Term Capital Gains, over several years, when my children were deductions and their college expenses were credits. I could have paid 0% tax on LTCGs. I could have sold and immediately bought back to reset my cost basis. I'm also checking numbers on Roth Conversions. If I can pay taxes in the 12% bracket and then avoid a 22% tax on RMDs I want to do that. If I can get RMDs low enough I can also avoid taxes on my SS income. It would have been easier to accomplish if I had learned this earlier. You have been warned.

Mikek

We have a firm of financial advisers that advise all of our employees, so I just do what they say. And I let the tax people do the taxes. Money is boring. I figure that if I spend my time designing electronics, the money will just sort of happen.

I am Socially Insecure; "income" fixed by Obama and his lying henchmen saying cost of commodities or whatever has not changed, so at most one gets $4 more each year...

Yeah; how in the heck does one multiply with Roman numerals?

Put both numerals in the same bed, and they automatically start multiplying....