<p>Tom1944, do you deal with state income tax?</p>
<p>Yes some are coasting and I expect their supervisor to deal with the situation. The supervisors have been told dealing with it is not having someone else do their work.</p>
<p>Yes I do deal with state income tax- also sales tax, corporate tax and the whole list of all the other taxes.</p>
<p>Ok…is a person who files an amended income tax return in your state more likely to be audited?</p>
<p>I filed my return. I was told this business I was involved with in 2011 was kaput in 2011 and there would be no K1. The day after I filed electronically, I was told there was a K1. That was yesterday. :)</p>
<p>This might affect my retirement…</p>
<p>Ok…not really…but this is a retirement thread. :)</p>
<p>dstark- it depends what changes came in on the amended return. If you amend to add income because you received a k-1 late that in itself would not trigger an audit.</p>
<p>What’s the big deal about an audit? They’ve done a few automated audits on my returns over the years. If they find something, they send me a check or a bill. If it’s a bill, I just pay it.</p>
<p>If they get the K1 and find that you didn’t account for it, they might send you a bill based on what they calculate (hey they do your work for you). If you don’t like the results, then you can go and talk to them about it.</p>
<p>My loss for 2011 is going to be smaller with the amended return. So I guess the state will be temporarily happy. :)</p>
<p>If it’s a bill, I just pay it.</p>
<p>BC- you work too hard for your money. Do not pay it if you do not owe it.</p>
<p>BCEagle91, I spent 30 hours going over my return so that it would be as perfect as it could be and I found out there was my
K1 sitting on my partner’s desk for two weeks prior to my sending in my return. If I had known that, I would have used the K1. This same partner told me there wasn’t going to be a k1. Then he forgets to tell me the K1 is lying 10 feet from me for 2 weeks. Wth?</p>
<p>This is the same guy who forgot to tell me that I was paying state income taxes in two states for the same income. I was supposed to get a tax credit.</p>
<p>So…I don’t get the tax credit, my return is no good, and I have been audited before and it isn’t a big deal, but I really don’t want to spend $13,000 to $20,000 dealing with an auduit I shouldn’t have in the first place.</p>
<p>I have a complicated return this year.</p>
<p>I overpaid my taxes, so I am just carrying over the amount overpaid until 2012. When I file the 2012 return, I am going to get the money back. The losses are still there. Just delayed a year.</p>
<p>I am like Romney. I did not take all my charitable deductions in 2011. I can’t find the receipt, and I did not really look for it. I figure it is my gift to the government. 
It would be ironic if I got audited after giving the government a gift.:)</p>
<p>Looks like I am ok though. I am counting on tom1944. :)</p>
<p>
Quoting from one of the early posts in the thread. This could be a good compromise in fixing the Ponzi. After all the payoff has cost of living adjustments.</p>
<br>
<br>
<p>Most of the hard parts on my returns are related to investments. I really cannot say that I work hard for this money. I’m usually exhausted by the end of the tax season (it coincides with other stuff in life that uses a lot of time) and I just want to be done.</p>
<p>As far as stem jobs are concerned, we can’t hire enough people. Because we are on a tremendous hiring binge and just can’t ramp up fast enough, we are going to farm out work.</p>
<p>Ok…back to retirement. I was supposed to be laid off jul 31. Delayed and delayed. Maybe delayed now until Oct 31. </p>
<p>I am in a similar business to NJres, and that business doesn’t like to hire people our age. So I might be retired. I hope I like retirement like canuckguy.</p>
<p>I can always put you to work (though you’ll have to pay for the privilege, as I do).</p>
<p>"Ok…back to retirement. I was supposed to be laid off jul 31. Delayed and delayed. Maybe delayed now until Oct 31. </p>
<p>I am in a similar business to NJres, and that business doesn’t like to hire people our age. So I might be retired. I hope I like retirement like canuckguy."</p>
<p>I’ll hire you - you trade your money and we’ll split the profits!</p>
<p>My dad has “retired” twice… first time when he was in his early 40s after 23 years as an officer in the service, the second time in his mid-late 50s after working in the private sector. He was bored, so went back to work “part-time” at three jobs (two teaching college as an adjunct, one working half-time for a company)… basically this gives him some flexibility, but he works pretty much full time and is in his late 60s.</p>
<p>My mom works full time and is also in her late 60s.</p>
<p>They both say they will “retire” when they are no longer enjoying their work… I suspect even then each will continue to teach in their respective fields either privately or part-time as adjuncts at universities.</p>
<p>I am in my early 40s… and am a LONG way from retirement. I feel fortunate that I love what I do (most of the time), and hope to continue to work in my field for as long as I can… like Betty White.</p>
<p>BCeagle: Here’s a basic explanation.</p>
<p>
[Life</a> Expectancy | TrueNorth Health](<a href=“http://www.healthpromoting.com/learning-center/articles/life-expectancy]Life”>Life Expectancy | TrueNorth Health Center)</p>
<p>yes, there are a few years difference, as stated above and as the CDC says, but the idea that the typical adult lived only to their 50s and 60s a century ago, and now lives 10 or 20 years longer, is erroneous. And most of us can see that looking at our own families. I have a family geneaology listing hundreds of ancestors of mine living into what we’d consider old age; it also lists hundreds if not thousands who never made it past early childhood, sadly.</p>
<p>Garland, I am not a statistician, just thinking this through…</p>
<p>If I understand this, the infant mortality rate has gone down, and life expectancy has gone up.</p>
<p>But adults in general are living to as ripe an old age as ever. In terms of social security, would this mean that more people are collecting, and the greater quantity of people collecting would account for the drain in the system? Rather than an increase in the number of years benefits are collected?</p>
<p>I would be interested to know the average duration of benefits over the years.</p>
<p>garland, thanks for that. I get so frustrated with people mixing these up…</p>
<p>On the real topic of this thread; the subset “people-who-can-retire-before-Medicare” wholly intersects the subset “People-with-retiree-medical-benefits”, with a small sliver of the Venn diagram for “filthy rich” on one side and a larger wedge of “forced out of work after 58 and can’t find a new job” on the other.
We just pray that we have the option to keep working until 66.</p>
<p>I personally prefer scholarly work over articles that read as quasi-opinion pieces but I am aware of a number of improvements to increase life-expectancy along with a number of problems that decrease life-expectancy and quality of life.</p>
<p>I do think that we are going to get to the point where we actually increase life-expectancy; after all, 2040 is supposed to be the year of immortality.</p>