Taxes: Get em done or wait till the last minute?

**isuno1fan** · 02-01-2008, 10:37 AM

Do you do them as soon as possible or wait till the last minute?

**cmoneyr** · 02-01-2008, 10:39 AM

As soon as I have the w2's, no sense waiting, I want my money back as soon as possible.

**keepngoal** · 02-01-2008, 10:39 AM

ASAP baby, ASAP.

-keep

**isuno1fan** · 02-01-2008, 10:40 AM

What if you owed money? Would you still do them early to get them out of the way or wait under that scenario?

**isufbcurt** · 02-01-2008, 10:40 AM

I did mine 2 weeks ago, and did 3 other peoples last night.

**DaddyMac** · 02-01-2008, 10:40 AM

Got both of my electronic acceptance notifications yesterday.

I say if you're getting money back - get it asap. If you have to pay in. April 15.

**The_Architect** · 02-01-2008, 10:41 AM

Can someone explain to me how you ever owe money? Do you claim too many deductions, etc?

**rworkman83** · 02-01-2008, 10:42 AM

Filed mine on Wednesday night, got acceptance back yesterday...should have the money in my checking account by next week...

**ISUFan22** · 02-01-2008, 10:43 AM

File ours early and if we have to pay - will wait until April to send the check.

**isuno1fan** · 02-01-2008, 10:43 AM

Originally Posted by The_Architect

Can someone explain to me how you ever owe money? Do you claim too many deductions, etc?

Both my wife and I claim zero, but as a couple we make too much money and our deductions are somewhat limited.

Also...any short term capital gains can really increase your tax burden.

**isuno1fan** · 02-01-2008, 10:44 AM

Owning your house will likely put you in the "have to pay" group as well.

**abcguyks** · 02-01-2008, 10:45 AM

Originally Posted by ISUFan22

File ours early and if we have to pay - will wait until April to send the check.

The ONLY way to go. Get refunds ASAP and hold on to payments as long as possible.

**Mrs.ISUFan22** · 02-01-2008, 10:45 AM

We always get ours done early. Last year we had to pay for one and got money back for the other. You can file one, get the money back and go pay the other one.

**The_Architect** · 02-01-2008, 10:46 AM

Originally Posted by isuno1fan

Owning your house will likely put you in the "have to pay" group as well.

Really? I just bought a house last March and am anticipating a big return from interest alone. Am I missing something? I claim 1 and my wife claims 0.