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When do you do your taxes?

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Early on in school, I learned how much fun it was to complete assignments as soon as they were given to us, then sit back and watch my classmates panic because they all left it to the last minute.

I'm just about done getting ready to hand over my business info to my accountant.

Do you do your own taxes or take them to a professional?

Do you get on it early or wait until the last minute?

:writing:
 
oldguyzer said:
What taxes? I thought we get to keep everything.

You should donate 50% of your income to the Crime Fighters Association and you'll get a substantial tax break.

Let me know if I should PM you the address where to send the cheque.
 
Robintheboywonder said:
You should donate 50% of your income to the Crime Fighters Association and you'll get a substantial tax break.

Let me know if I should PM you the address where to send the cheque.

Only 50%? Geez, I'm paying 75% to Smerf Inc right now. They said if I didn't, Guido would lose his speedo.
 
Always to a pro and pay them enough each year so not to have any red flags next to my name.
 
Johnnybehorny said:
Always to a pro and pay them enough each year so not to have any red flags next to my name.

In my pre-computer days, myself and my husband ran a dozen businesses, and I did all the books and tax returns manually. I never learned how to use bookkeeping software or how to do taxes online, so I figure hiring a pro who understands all the laws is the smart way to go now.

It pays to keep good records too. When I returned to Canada after temporarily emigrating to the US to marry an American and filed for the Child Tax Credit, the CRA sent me a letter telling me I was an immigrant and had to prove I was a Canadian citizen. I was on the phone talking to an agent who was looking at their computer screen that listed all the Canadian tax returns I'd filed since I started working (20+ years worth), who still insisted I had to prove my citizenship.
 
In school, I always left my assignments to the last minute. I'd usually write them all in one take, handwritten, without revisions. They needed to be done for a certain time, and I got them in on time.

One year in college, I had a term paper to write in Sociology. I was given six weeks to complete it. The night before it was due, I hadn't started it yet. I was out drinking with friends, and got home around 12:30 AM. I set the alarm clock for 7:00 AM, because I had an exam in Sociology at 8:00 AM.

From 1:00 AM until 6:55 AM, I wrote the term paper, about 20 pages, double spaced. I had five minutes to proofread part of the paper before the alarm went off, and I reread the rest while my hair was drying, after a cool shower, in lieu of sleep. I made about ten revisions, mostly just spelling errors, or chopping up run on sentences. I then went to school, and wrote essay questions in Sociology for another 90 minutes, from 8:00 to 9:30 AM, and got 90% on both the term paper and the test.

I had three other courses with the same professor, and never had a grade of less than 87% from him. In one course, a "Humanities" that was sort of a watered down Introduction to Sociology, the grade for the course was based on the best three out of four assignments, and the best two out of three tests. I wrote three assignments, and showed up for three classes, the first one, and two test days. I received a mark of 100% on the mid term reports.

From time to time, I played badminton with the professor in the sports complex. He told me there was no reason for me to come to class, he wasn't teaching anything I didn't already know, and he knew I was just taking the course because I needed four credits in Humanities.

I file tax returns once every 4-7 years. Legally, no one is required to file a tax return, unless they owe taxes.

Once when I had an office job that was 'straight salary', I filed 7 years of returns at the same time, and got 6 refund cheques, totaling about $40. I wasn't charged any interest penalty for the year when I owed seventy-five cents.

I'll do 2010-2013 as a batch sometime soon, and maybe do 2014 at the same time. I have refunds of about $600 coming from each year. I just let those sit until the total is of some significance, or if I need to borrow for an emergency, like a vet bill for my cat.

A lot of people I know would lend me several hundred dollars on request, if I asked, and if I could assure them that the money would be repaid in full in six months or less. Having money owed to me by the government, who's waiting for me to ask for it, allows me to make that kind of promise, and keep it.
 
Sarah is doer, Bob is a procrastinator. What do you call guys like me that does them in between?.
 
Creepy said:
Sarah is doer, Bob is a procrastinator. What do you call guys like me that does them in between?.

Normal.


I'm always happy to see you post so I can look at your avatar again.


:biggrin2:
 
I always leave it to the last minute or late. I'm bad. :( Procrastinated a lot during school as well but felt I did my best work under pressure.
 
i'm so happy!! :yahoo:

My accountant filed my taxes today and I got a sizeable refund for the first time in years!! :YMPARTY:
 
Do it as soon as I get the statements. I finished 'em in February. Congrats on the refund! :yahoo:
 
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