By accessing this website, you acknowledge that Edmunds and its third party business partners may use cookies, pixels, and similar technologies to collect information about you and your interactions with the website as described in our
Privacy Statement, and you agree that your use of the website is subject to our
Visitor Agreement.
Comments
2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D
Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!
MODERATOR
2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
Changed CPAs this year. Everything was uploaded to her portal and awaiting the results. Estimate looks like we should be in the clear. We took a beating last year with inadequate withholding after some wage increases and bonuses taking us up a bracket.
We moved away from the guy who has been doing my taxes since 2005. He wouldn’t answer emails/phone calls about some questions we had, so we found someone new. I don’t have time for that.
2025 Ram 1500 Laramie 4x4 / 2023 Mercedes EQE 350 4Matic / 2022 Icon I6L Golf Cart
my extras this year were more tedious than difficult so not worried about having missed anything or leaving money on the table. If I had something exotic like rental property or an S corp/LLC I would hire a pro.
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
What’s great is that my twin brother is a retired forensic accountant who was head of fraud, worldwide, for one of the biggest accounting firms on earth. He does my taxes for me via a FaceTime call every year.
He is one of the first CPA’s to create and use specific tools he created for identifying, tracking and documenting fraud in some of the largest corporations worldwide. He used to travel frequently with his team of CPA’s (which he supervised) to Europe, Asia, Africa and Australia/New Zealand as well as North and South America. He even taught forensic accounting strategies at a prestigious university in a mid-Atlantic State.
He continues to consult from time-to-time.
2024 Genesis G90 Super-Charger
Say what? Carryover? To personal? Whatchu talkin bout? Don’t tell me I should have waited for the biz taxes before filing personal.(?)
'11 GMC Sierra 1500; '98 Alfa 156 2.0TS; '08 Maser QP; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '11 Mini Cooper S
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and share!
Edmunds Moderator
Say what? Carryover? To personal? Whatchu talkin bout? Don’t tell me I should have waited for the biz taxes before filing personal.(?)
The business doesn't pay taxes or collect a refund ... whatever it makes or loses goes onto our personal 1040 form.
In other words, yes, you should have waited for the business taxes to be completed before filing your personal forms. I'm sure you can file an amendment, or ask for an extension.
Disclaimer - I'm not a tax pro, just reporting what I know from the customer side of the table. The tax folders I get back from the CPA are probably 60-70 pages in size, for both the business and the personal taxes. The CPA is also our business bookkeeper, so I get a 3-ring binder as well with all the accounting for the year.
Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!
MODERATOR
2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
'11 GMC Sierra 1500; '98 Alfa 156 2.0TS; '08 Maser QP; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '11 Mini Cooper S
Are you using any sort of software for the business, to track revenue and expenses?
Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!
MODERATOR
2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
A multi member LLC has similar choices to elect.
Electing to be taxed as a S-Corp is fairly common but requires filing an S-Corp return which passes gain or loss to your 1040 and usually requires an active owner to take a salary and all the withholding that goes with it.
Electing to be taxed as a Sole Proprietor on Sch C of your 1040 is the least paperwork if LLC is only one member.
Other thoughts are welcome.
I get people just bringing me a pile of paper in the hopes that everything they need is there. Some people don't even open some of the envelopes that their tax forms come in. They just dump everything on me to figure out.
2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D
Yes, yes I do. Not enough to put up with some of the idiots I deal with but I do get paid.
2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D
Livin' on the edge!
And, I'm a relatively simple preparation, mostly due to limited income...!
(Although years ago, when my daughter was in college in Cleveland, it was fun doing her fed, MA state, OH state and Cleveland local)
'21 Dark Blue/Black Audi A7 PHEV (mine); '22 White/Beige BMW X3 (hers); '20 Estoril Blue/Oyster BMW M240xi 'Vert (Ours, read: hers in 'vert weather; mine during Nor'easters...)
It is currently an LLC. The place I used to file my business said to use LLC. Then when I hired these accountants, they started saying s-corp would be better, but we can put that off till I actually start doing business.
'11 GMC Sierra 1500; '98 Alfa 156 2.0TS; '08 Maser QP; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '11 Mini Cooper S
2021 VW Arteon SEL 4-motion, 2018 VW Passat SE w/tech, 2016 Audi Q5 Premium Plus w/tech
My daughter mentioned to me last night, after returning home, the tire pressure light was lit in the TL and the right rear tire showed 22 psi. Groan. Those tires are less than a month old! This morning I checked it with a tire gauge and yep now 20 psi. I couldn’t find a nail in the tire but knew I needed to have it looked at and few places are open on Sunday and she needs the car to commute to college tomorrow. After multiple calls I was able to find a tire shop willing to fix the tire today. Of course I was afraid it wouldn’t be repairable but thankfully it was a black screw that punctured the tire in an area where it could be repaired. I did fill the tire to 36 psi before leaving with this very handy air pump. It is a great tool to have when needed.
2021 VW Arteon SEL 4-motion, 2018 VW Passat SE w/tech, 2016 Audi Q5 Premium Plus w/tech
I made the mistake of scrolling through the truck’s trip computer yesterday. A stellar 13.7!
2025 Ram 1500 Laramie 4x4 / 2023 Mercedes EQE 350 4Matic / 2022 Icon I6L Golf Cart
Actually, I think last year we took all of the gains and put it onto our 1040 - the daughter has no income, as she gets 'partner distributions' from the business, and her taxes can be done on the EZ form (does that still exist?)
Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!
MODERATOR
2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
Do the guys that come to your house charge extra for that? It's a long hard drive to get to a Safelite location.
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
I made the mistake of scrolling through the truck’s trip computer yesterday. A stellar 13.7!
In two months when the weather warms up I'll be back to 63 MPG again.
2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D
I'd rather have 13.7 mpg and be surrounded by steel, especially if traveling on roads in Florida where the accident rate especially for motorcycles is still climbing. Even walking isn't safe, they drive onto sidewalks and are killing people there too.
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
Speaking of the government it is becoming clear that both federal and state intend to harass anyone who continues to submit paper returns. I requested all the forms from the feds in January. Gird the they sent me a postcard saying all the forms were “unavailable” and would be sent later. So far all they have given me is Schedule B, nothing else. NYS is even worse. No library or post office has any state forms and the NY tax department refuses to accept requests for forms and then hangs up on you.
And before you ask, I use paper because I want to.
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible
at least they require it is free.
I actually file on paper for NJ. But I would never use forms and hand calculate everything. I use the software, and let that do all the work. Then for NJ I print out the forms (they come out in a special machine readable scan format) and mail those in. I can wait an extra 3 weeks to get my refund to save $19.99 E-file fee. If it wasn't for that I would do it electronically.
You can do the same for the feds. I actually print out a full set of the forms used to keep in my files, and I don't think there is any restriction on mailing them in if you want to. Not sure if that option is there for NY (I have not gotten that far yet, I just did all the calcs and got depressed so I stopped!)
I remember sitting at the table with the forms and instructions trying to figure out how to calculate a bunch of stuff, and having a calculator out to add everything up. It really was crappy to do. New way, so much better and quicker!
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
I remember, as a young teen, helping my dad with his taxes. It was usually an all day affair for him, as they itemized, and he had union dues he could claim, plus other expenses at the time.
Turns out that it took him so long because he did all his math by hand! Once we got our first TI calculator, and he trusted me with the math, we were able to cut down the pain and suffering by a fair amount.
Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!
MODERATOR
2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
Go to the IRS website, download and print them.
Many of the forms on line are fillable so you can fill them out on your screen and print them out filled.
2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D
2017 Cadillac ATS Performance Premium 3.6
newspaper like material. The Fed isn't sending the thin booklets that used to have 1040, and Sched 1, 2, and 3 in it along with a senior citizen form. But they'll print them. They did for me when I asked when
the others were coming in. Their printer output looks much better than mine at home and uses less ink for me.
I didn't notice if they have the state (OH) forms or instruction booklet. I'll print those off at home if I need to. Ohio has a strange system for additional tax and for deductions, at least to my mind. 6 pages IIRC, mostly empty for most people unless you get one of the special niche tax credits. But once filled in I'll submit them on the Ohio website under my account.
Feds still get paper. Last year tried Turbo Tax and it was a minor mess and IRS refused to accept it from Turbo Tax. I would have tried Tax Act this year, but decided it's more fun to do it the old fashioned way.
2014 Malibu 2LT, 2015 Cruze 2LT,
2023 Hyundai Kona Limited AWD (wife) / 2025 VW GTI (me) / 2019 Chevrolet Cruze Premier RS (daughter #1) / 2020 Hyundai Accent SE (daughter #2) / 2023 Subaru Impreza Base (son)
It's like the Ring device the kids installed for us a couple weeks back. They insisted that I do something in the guest bathroom as they want to make sure I'm o k to shower in there. Was very fortunate that one of them came in for the weekend and was in her bedroom right next door. She heard me fall & was right there to get me help. It scared her a bit & knowing that I have a history of falling, especially at night, insisting that we do something soon. And I totally agree here as it really isn't safe for me anymore.
2023 Hyundai Kona Limited AWD (wife) / 2025 VW GTI (me) / 2019 Chevrolet Cruze Premier RS (daughter #1) / 2020 Hyundai Accent SE (daughter #2) / 2023 Subaru Impreza Base (son)
2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D
2017 Cadillac ATS Performance Premium 3.6
But, the reality is that I've got health issues that don't seem to be going away...they only seem to be getting progressively worse. And I need to be cognizant of this & make the right decisions going forward. And I definitely do not want to hurt myself or others out there on the road. So in time, certain hard decisions might have to be made unfortunately about the future. Nothing that needs to be decided today...or tomorrow, but, the issue needs to be addressed.
2023 Hyundai Kona Limited AWD (wife) / 2025 VW GTI (me) / 2019 Chevrolet Cruze Premier RS (daughter #1) / 2020 Hyundai Accent SE (daughter #2) / 2023 Subaru Impreza Base (son)
Here is the explanation:
The IRS is updating Business Rule F8960-019-04 to include Schedule C (Form 1040) amounts from Schedule 1 (Form 1040), line 3. These updates will be implemented by mid-March. Please repeat the Filing steps to resubmit your return after that time. We apologize for the inconvenience.
'11 GMC Sierra 1500; '98 Alfa 156 2.0TS; '08 Maser QP; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '11 Mini Cooper S
. We apologize for the inconvenience.
Sure they do, they are probably laughing their a$$e$ off!
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
Noticed my neighbor across the street no longer seemed to have his 1998 Acura CL (Canadian Acura version of a ‘98 Civic sedan with nicer trim inside and a different grille). He had inherited from his late mother’s estate 7 or 8 years ago with about 50000km (30k miles) on it and had been using it as his DD ever since. I got talking to him and he told me that on Super Bowl Sunday he went to the supermarket and on his way home the brake pedal started going almost to the floor. He took it to his favorite shop and they diagnosed a corroded brake line, but after it was up on the hoist they noticed that the rear suspension and unibody parts that it attached to was badly corroded to the point where they would have had to revoke his vehicle inspection certification, meaning his registration at DMV would be voided. He got over 100000km out of it, so it didn’t owe him anything. He says he might buy something brand new to replace it. Scrapyard gave him $300 for it.
2017 Cadillac ATS Performance Premium 3.6
Better that they reject it, instead of taking it and deciding later you need to fix it.
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
2021 VW Arteon SEL 4-motion, 2018 VW Passat SE w/tech, 2016 Audi Q5 Premium Plus w/tech
'11 GMC Sierra 1500; '98 Alfa 156 2.0TS; '08 Maser QP; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '11 Mini Cooper S
My first stop was at my new Genesis dealership. They have a few 2023 Genesis G90's in stock. I took one for a test drive Saturday and after the 30 minute drive on the Turnpike and around my community, decided that this was the car I needed to have. The redesign of the G90 is truly miraculous in every way. The new audio system was uplifting and made you feel that you were in a recording studio listening to playbacks of music and songs from the last several decades. The responsiveness of the V6 bi-turbo engine was impressive and the comfort of the driver's seating was stupendous - but similar to my current 2021 G90. In my opinion, this new G90 is equal to, if not better than the S Class Mercedes, the 7 series BMW and all the rest of the luxury sedans this model competes with.
But the real story is in the pricing of this new vehicle. The MSRP for the rear wheel drive 6 cylinder model was over $90,000, a mere $20,000 below the price of the Mercedes S Class and about the same price as the 7 series BMW. My 2021 G90 had an MSRP of $76,000 and I paid $70,000+++. Their pricing was MSRP with no discounting. In my current financial situation, too rich for my blood and budget. However, the new G90 is well worth the asking price for those who can afford a luxury car in that price range. I fell in love with the car - but I've fallen in love with many dozens of other cars only to divorce myself from those love affairs after a year or so.
I test drove the G80, but my bad back could not survive the stiff seats and the stiff ride. To date, I have test driven the Audi A6, the Mercedes S500 4MATIC, the BMW 7 Series 6 cylinder model, the BMW 5 Series 6 cylinder model, and the Porsche 4-door sedan which was way too low for ease of entering or leaving the vehicle for my bad back. Nothing I test drove was acceptable for my poor back except for the G90.
So, my friends, my love affair with my 2021 Genesis G90 continues - especially considering I have a 1.9% finance contract with Genesis Financial for another 3 years and this car still rides and handles as good as the day I drove it off the new car lot. This one's a keeper!!!
2024 Genesis G90 Super-Charger
A guy driving a tuned Focus ST really wanted to play yesterday. Unfortunately my wife was in the car, otherwise I would have trounced him.
Mine: 1995 318ti Club Sport-2020 C43-1996 Speed Triple Challenge Cup Replica
Wife's: 2021 Sahara 4xe
Son's: 2018 330i xDrive
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
Good suggestion, stick!
Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!
MODERATOR
2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
Had a Gv80 as a loaner - drove like a truck - ride was too stiff for my back.
2024 Genesis G90 Super-Charger
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible