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Advisor

Re: Taxes done yet?

Yup. 2 done. 1 to go. I do our personal/farm return, a trust return for my fAther's  estate, and my mother's return. Hers doesn not have to be done 'til april 15. the trust and my mother's are relativley simple. I don't do the actual return. My cpa does that. My mother gets a 1099 for almost everything- rent, SS, interest, IPERS, and some other retirement account, so all i do is go thru her bank statements for deductible expenses. 'bout a 2 hour job. it goes way better if she doesn't help.

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Senior Contributor

Re: Taxes done yet?

Got mine figured.   Won't have the 'problem' you do, LOL.  WIth the ongoing drought, (less cow numbers, high feed prices) combined with 3 big '15-20' year major repairs, all falling into last year, my tax burdeon won't be a burdeon.   In fact, this year, it appears I didn't make enough to pay income tax, just SS taxes.   The bummer of it all, is that I didn't make enough to qualify for Obamacare, but too much to qualify for State aid, for my health insurance.   It wouldn't be so bad, but the Obamacare-compliant plan, is about 20% higher than my current plan, so I have 20% more cost, with no subsidy.

 

 

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