Sunday, April 11, 2010

Taxes done

I finished and mailed my federal and state income taxes yesterday. As I mentioned earlier I used Turbotax for the first time this year. I found the program a bit frustrating. One thing the ads about Turbotax finding deductions and credits that you might have missed ignore is that Turbotax is also quite good at finding taxes and penalties that you might have missed. Apparently my W2 showed IBM had failed to withhold a small amount of Medicare tax. I would never have noticed this myself and I doubt the government would have chased me for the small amount but Turbotax added it right in. And I would never have realized that New Jersey really expected me to pay them $10 if Turbotax hadn't kept trying to sell me their New Jersey state return feature. The rules for people with income from several states are really quite obnoxious. This will be a bigger problem for me this year as I am living in New York and working in New Jersey. I have new sympathy for professional athletes who have to deal with many state returns. Perhaps I should rethink my support for state's rights.
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2 comments:

  1. MaryApril 12, 2010 at 5:26 PM

    That's cute. So you owe ten dollars more....I still think Turbo tax is great. It makes things a lot easier, and I don't feel so stressed doing taxes any more....the state feature is a bit expensive though. With two states to do, you will find things that you wouldn't otherwise find.

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  2. James B. ShearerApril 16, 2010 at 7:38 PM

    Actually it didn't cost me anything (except for the stamp to mail the New Jersey return) as I got a $10 credit in New York.

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