Taxes reddit.

Reddit's home for tax geeks and taxpayers! News, discussion, policy, and law relating to any tax - U.S. and International, Federal, State, or local. ... Every tax return done through VITA or AARP Tax-Aide has to be quality reviewed by someone else, and they should give you constructive feedback. If you get into a subject that you aren't sure ... 1040.com review (and why I went back to FreeTaxUSA) Informative. IDK if this will end up being helpful to anyone, it may save you an hour or two though. Just my experience with 2 [mostly] excellent tax filing sites for 2023 - 1040 [.]com and FreeTaxUSA. The IRS site recommended 1040 [.]com to me, and offered free State filing (the ever elusive ... Reddit's home for tax geeks and taxpayers! News, discussion, policy, and law relating to any tax - U.S. and International, Federal, State, or local. The IRS is experiencing significant and extended delays in processing - everything.Tax "Refunds" -- Not Ideal. Capital Gains and Capital Losses. Other Taxes. Frequently Asked Questions about Taxes. Should I see someone about my …

upvote · 3. LPT - It's tax season, so make sure you don't waste money on Turbotax. Turbotax is wildly overpriced and you're wasting a lot of money when you could use Freetaxusa and other services that are literally over a hundred dollars cheaper. Freetaxusa is $15 to file your state return - federal is free. ·. Introduction. Help Series for Tax Season. Additional Helpful Posts. Do I need to file taxes? Deductions. Exemptions. Taxable Income and Tax Brackets. Marginal Tax Rates. Tax Withholding. Tax Credits. Tax "Refunds" -- Not Ideal. Capital Gains and Capital Losses. Other Taxes. Frequently Asked Questions about Taxes.

Jan 5, 2016 ... Those taxes are deducted from every paycheck you receive If you own your own business then you pay a 15% social security tax and then 10 to 35% ...There are two sets of penalties: • Failure to File; BIG deal; • Failure to Pay; small, and based only on the outstanding balance. SO: File a complete return by April 18 -- no FTF penalty. Include as much of your payment as you can afford -- minimize FTP penalty. Wait for …

President Biden has a plan to raise that maximum tax rate from 20 percent to 39.6 percent, and proponents see that as one way to tax the rich. But …Our basic tax strategy after FIRE: stay below the $80K income to get 0% long term capital gains tax. After hitting FIRE, we plan to tap into our non-retirement account investments as needed but will pay 0% on long term capital gains since our total income should be well below the $80K threshold. Some of that income may be from hobbies or ...Taxes. Please use this thread to discuss various methods of filing taxes. This can include: Tax Software Recommendations (give detail as to why! Tax Software …Oct 26, 2022 ... The strategies that I know of include: bonus depreciation, pre-tax retirement contributions (like SEP IRA, Solo 401K) , 1031 exchanges, pretty ...

Jan 21, 2023 ... You're getting so much back because you're low income with a dependent, so the EITC is the bulk of your refund which isn't the case for everyone ....

To get the same thing, set up your W-4 appropriately, then have the difference in taxes be automatically allocated to a savings account that you don't touch and use it as you like end of the year. Or put it in a retirement account (preferably a 401(k) if your company matches) and start building your wealth for retirement.

ADMIN MOD. I filed my taxes and..... Taxes. Well, I’ve seen a ton of posts on here recently about taxes. Everyone arguing about who is right, who is wrong. The constant “that’s dumb. Nobody would gamble if they did taxes like that”. Well, I filed my taxes last night. Everyone saying that you report total winnings as income and report ...Simple example: you were reimbursed $8k in scholarships every year. You add $8k to your return, at 12% rate you own $960 in taxes. Instead you take the AOTC, you add $12k to your return, at 12% you own $1,440 in taxes that can be offset by $2,500 in tax credits. Now the government owes you $1,060.Market Cap. $4B. Today's Change. (-0.37%) -$0.05. Current Price. $13.36. Made a profit after getting a stock tip from Reddit? Here's how much tax …If you mark "as exempt" then you have $0 taxes taken out per paycheck. Your calculation at filing needs to come out as you owe $0 taxes based on income minus deductions and credits etc. Otherwise you are going to owe at the end of the year as well as get penalized for underwithholding. r/personalfinance.Roth IRA When Filing Taxes. Hello everyone! I just opened a Roth IRA for myself and my wife in January. We maxed contributions for 2021 and 2022. I'm filing my taxes and they ask if I opened and contributed for 2021. While I answered yes, it is showing no difference in my taxes owed. I was hoping the contributions for 2021, at least would bring ...Here is a IRS tool to determine if you need to file for 2020. If you have over 400 in self employment, over 1100 in unearned income like investment gains, or over 12400 in earned income, you have to file. See Form 1040 instructions pages 10 and 11 for filing requirement details for dependents.

However, this year I got an HSA through my job. H&R Block is essentially saying that I need to have their Pro version (pay $30) to file my taxes because I have an HSA and need to fill out extra forms which are only available in this pro version. The HSA only has like $200-$250 in it (because I literally just started it, and it only has that ...Reddit's home for tax geeks and taxpayers! News, discussion, policy, and law relating to any tax - U.S. and International, Federal, State, or local. ... Just used for IN taxes (helping a friend file) and says they owe about $8k, same info input into TaxSlayer and they get a $50 refund. They are over the income level to use the other free ...Andy, a director in The Tax Institute at H&R Block, answers some of the Internet’s most burning tax questions on Reddit. Learn about late and delinquent taxes, …Jun 16, 2014 ... ... taxes, or Medicare taxes, or any state/local income taxes. ... Our tax laws, tax forms, and anything to do with taxes ... Reddit · Topics · Conte...Taxes. My husband and I make just over 100,000/year combined income, now. But this applies to both this year and years previously where our income was substantially less. We ALWAYS owe the feds money. Every single year, yet we tend to get back a decent state refund (which thankfully usually offsets what we owe the feds).Advertising on Reddit can be a great way to reach a large, engaged audience. With millions of active users and page views per month, Reddit is one of the more popular websites for ...

If you’re a working American citizen, you most likely have to pay your taxes. And if you’re reading this article, you’re probably curious to know what exactly you’re paying for. Th... FreeTaxUSA, Free fed, pay $15 for state, ( TaxHawk is the same company) OnLine Taxes offers free federal and $10 state returns. It has a more simplified interface, more like CashApp Tax vs FreeTaxUsa. MyFreeTaxes.com (Run by United Way/TaxSlayer/CashApp), Free fed/State.

The husband turns 65 in the current year whereas the wife turns 64. The husband converts a portion of his RRSP to a RRIF and withdraws the entirety of the RIF (withholding tax applies above the minimum for age 65 - 4%). The husband elects to split 50% of pension income with 64 year old wife. Reddit's home for tax geeks and taxpayers! News, discussion, policy, and law relating to any tax - U.S. and International, Federal, State, or local. The IRS is experiencing significant and extended delays in processing - everything. Don't post questions related to that here, please. ... At least for federal taxes, effective 2018 employee ... The return for tax year 2022 will be due April 17, 2023. You can automatically get that extended to October 16. However the tax is still due throughout 2022, and any remaining amount is still due April 17. If you are owed a refund, you have until April 17, 2026 to claim it. r/tax. 48,0000miles x 0.585/mi = $28,000 YOU DO NOT OWE TO THE GOVERNMENT IN TAXES. $40,000 (totals flex income) - $28,000 in deductible income = $12,000 is the actual amount of income you owe taxes (15% self employment tax of income based on your particular math at this point). But wait there’s more! ADMIN MOD. I filed my taxes and..... Taxes. Well, I’ve seen a ton of posts on here recently about taxes. Everyone arguing about who is right, who is wrong. The constant “that’s dumb. Nobody would gamble if they did taxes like that”. Well, I filed my taxes last night. Everyone saying that you report total winnings as income and report ...Feb 15, 2024 ... Have federal income tax withheld. Excess tax withholdings are only returned in the form of a refund when you file a tax return. This can affect ... How To File Taxes – A Beginner’s Guide (cross post from r/personal finance) I've been seeing a lot of questions about the basics of taxes - do I need to file, how do I file, etc. I don't want to break the rules of of this sub, but I've written a blog post that addresses exactly these questions. Regardless of where or how you file, I hope ... For your first time, I would recommend finding a tax professional in your area to file your taxes for you. They can charge anywhere from $100-$500, so ask them how much they would charge before hiring them. You can go to places like H&R Block to get it done too, but I think they are too expensive.IR-2024-04, Jan. 8, 2024. WASHINGTON — The Internal Revenue Service today announced Monday, Jan. 29, 2024, as the official start date of the nation's 2024 tax season when the agency will begin accepting and processing 2023 tax returns. The IRS expects more than 128.7 million individual tax returns to be filed by the April 15, 2024, tax deadline.MANCHESTER, N.H. (AP) — President Joe Biden on Monday released a budget proposal aimed at getting voters’ attention: It would offer tax breaks for …

Depends on how Much it would cost you. At 150k your average pay Works out at +-30$ an hour, after tax. we I pay someone 50$ to make mine, instead of taking 3 h of my week-end to do it myself...paying 1.6 h of my hourly pay to save 3h of doing something I don't like is a good investment. r/personalfinance. true.

You can only use business expenses to offset business income, so your W2 income would stay the same. Most wealthy people use their money to start or maintain a legitimate business and just eat the taxes on their smaller W2 income if they bother to keep a job at that point. 15. goingback2back.

Alternatives to Reddit, Stumbleupon and Digg include sites like Slashdot, Delicious, Tumblr and 4chan, which provide access to user-generated content. These sites all offer their u...MANCHESTER, N.H. (AP) — President Joe Biden on Monday released a budget proposal aimed at getting voters’ attention: It would offer tax breaks for …Online account shows details for any federal tax liability associated with your individual account, such as: Income tax owed on your Form 1040; Additional tax ...Jan 17, 2024 ... Best bet is to use the IRS withholding calculator early each year to make sure you're withholding enough. If not, you'll owe when you file.A: Tax law changes have been on everyone’s mind lately. The tax changes impacting most of us are standard deductions and child tax credits. Standard …Reddit is a popular social media platform that has gained immense popularity over the years. With millions of active users, it is an excellent platform for promoting your website a...Had taxes been taken out of you paycheck, your employer would have given you a W2 form by January 31, 2015. You would have seen dollar amounts on your pay stubs for things like Fed Withholding, Social Security, and Medicare. Sometimes you are paid without taxes taken out. In this case you would receive a 1099-MISC. So we lost about $750 in tax credits. We have 2 options. 1) File an amended return that moves $1000 of the $2500 tax credit claim into my wife's column and keep the remaining $1500 in my column. Or 2) Wait to claim the remainder next year because this credit rolls over. FreeTaxUSA, Free fed, pay $15 for state, ( TaxHawk is the same company) OnLine Taxes offers free federal and $10 state returns. It has a more simplified interface, more like CashApp Tax vs FreeTaxUsa. MyFreeTaxes.com (Run by United Way/TaxSlayer/CashApp), Free fed/State.

1040.com review (and why I went back to FreeTaxUSA) Informative. IDK if this will end up being helpful to anyone, it may save you an hour or two though. Just my experience with 2 [mostly] excellent tax filing sites for 2023 - 1040 [.]com and FreeTaxUSA. The IRS site recommended 1040 [.]com to me, and offered free State filing (the ever elusive ... Reddit's home for tax geeks and taxpayers! News, discussion, policy, and law relating to any tax - U.S. and International, Federal, State, or local. The IRS is experiencing significant and extended delays in processing - everything. Turbotax gave me a $489 return. Take the $89 for the premium version they claim I have to have to file, and another $40 in service fees, leaving me with a $360 return. Free tax USA quoted me a $530 return to start, but by the end, it dropped to $503. All the same info, not sure what the service saw differently to deduct from. Chime (Column Tax). Instagram:https://instagram. resume updatetravel nursing salarycost of garage doorswift ai The first $13,850 would still not be taxed because thats the standard deduction. The second $11,000 would be taxed at 10% still. (to a total. From $11,000 to $44,725 would be taxed at 12%. There would be $1,425 left that would be taxed at 22%, but only that $1,425 would be taxed at that rate. Reddit's home for tax geeks and taxpayers! News, discussion, policy, and law relating to any tax - U.S. and International, Federal, State, or local. The IRS is experiencing significant and extended delays in processing - everything. l oreal metal detoxdescaling nespresso machine If I read the tax table correctly, someone who's single and has $100,000 intaxable income would owe $17,394 tax, married filing jointly at $100,000 would be $12,610. MFJ at $200,000 would owe $34,800 and single at $200k would be $42,832. M-0 and owing is common if your spouse earns income. pan dulce Just for an example, say by the end of the year I traded 50 contracts, and before fees I made $750 gross profit and lost $250, for a net (before fees) of +$500. If I subtract the fees/commissions, it’d be $500-50*$1.24 = $500-$62 = +$438 net profit for the year after fees. Would I be paying taxes on the $438 (after fees) or the $500 (before ...Reddit's largest economics community. Serving as a central forum for users to read, discuss, and learn more about topics related to the economic discipline. ... "The …Bill Gates: I’ve paid $10 billion in taxes. I should have paid more. - Vox. Future Perfect. Bill Gates: I’ve paid $10 billion in taxes. I should have paid …