If you're dealing with the AMT and confused about tax brackets, then you need a tax advisor this year, not next. I'd file an extension and seek the services of a professional. He'll save you a ton of money. My return this year is likely going to be pretty ugly. I will likely owe quite a bit to Uncle Sam. Still working on it with my tax preparer.
I am almost at that desireable point where I don't get/pay anything. I should be at around $100 or less either way.
I sold my company in 2005, and cashed out all the stock, I have to pay a one time Long term capital gains tax.... Fortunatly the market was up about 15% on my investments which covered the tax....still hurts having to write that check though. DD
Did you put some into IRA? I am maxing out the 8000 ira this year. otherwise, I would owe irs even more.
Like usual, I'll owe some, but it should be a LOT better than last year thanks to all my music expenses last year. I have GOT to pay estimated tax this year.
It looks like this, except it says 2005 at the top instead of 2004, my name and address are at the top, and there are a bunch of numbers in the other boxes...
$3200 (a good chunk of that is move-related deductions). $125 from New Mexico. $230 from Arizona. It couldn't come at a better time... we were scheduled to sell our NM house on 3/31, but the guy backed out on 3/29. Got the earnest money plus an additional sum so we wouldn't sue him, but now we're back to making two house payments for at least another few months, and will probably get less for the house. Ugggh.
No clue... I'll start on my taxes tomorrow... lol. But I do know I'll be paying. Stocks/funds did very well last year and I cashed out on a lot.
