How did your taxes go?

[coorsoriginal02]

Owed several hundred for Federal - received a decent State return.

NEVER paid into Federal until the 2022 tax season…so, two years in a row now.

 

[HawkMachine]

You're saying now Iowa is requiring withholding on the nonresidents?

Yep.

 

[kwik44]

I know that people say that getting a substantial refund is dumb because you are just loaning money to the government interest free, but given the market volatility, I don't mind it and I would rather do that than owe interest or some kind of penalty.

Yep. I've thought that for awhile. I like to keep a pool for all capital gains they can grab from, as if though nothing even happened.

Also, if that money is alotted throughout the year, chances are we will go through it on dumb purchases. This seems to keep the ship tighter.

 

[jamesvanderwulf]

Federal - owed 728 -
State - refund 1,048 +
Tax Prep 320 -
____________

Vanderwulf 0

 

[NoleinATL]

Not great, tax bill owed
Fed 1.3
st 400k

Then I remembered my birdhouse building business records were not given to my CPA,
and then I find out the really disappointing news. My start-up business had losses of 1.7 million
dollars, it was devastating.

So the end of the day, came out even Steven on taxes, emotionally still recovering from my startup failing so spectacularly but we will work harder next year

 

[JWolf74]

Owed feds 4K. Got 3.5K back from state. I had my wife set her deductions to zero and they still only took about 5% for federal taxes. I guess I'll have to adjust my withholding if we don't want to keep paying in.

 

[joelbc1]

We want NO “April Surprises” and have planned for that for years. This year’s plan was quite successful.

 

[JupiterHawk]

I usually break even and this year was no different. Had a refund of 1k. I own a part-time business and normally I pay a quarterly W-2 salary to myself. In this case, I did not make any salary, and the business took a loss.