My first two years of filing taxes I had pretty high "negative" tax rates for my federal taxes. Both years I made somewhere between 11 and 20k but after accounting for tuition deductions and credits relating to being a student I got 1.8k back even though I only paid $525 in fed taxes.It's currently 3% per year, so if you make a late estimated payment you get charged .03/365 per day the payment is late. It's also good to know about the safe harbor rules. As long as you pay 100% of your total tax from the previous year or 90% of your total tax for the current year, whichever amount is smaller, you won't be subject to the ...I have changed icons and security answers a few times with my bank, and that doesn't work either. I did find the account and routing number for where my refund went. I found it on my tax return. They replaced my acc & rout number with theirs. It's MVB bank in Allen,Texas, phone number is West Virginia. 304-368-2180. MOD. Tax Filing Software Megathread: A comprehensive list of tax filing resources. 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 Experiences. Other Tax Filing Tools. Experiences with Filing Manually. In addition, self-employment tax = $55,000 * 0.9235 * 0.153 = $7771 SE tax. Total income and SE tax = $19,792. Subtract from that the annualized total Federal income tax withholdings on your paystubs, and that's an approximation of your estimated tax. Divide by four for quarterly payments.The short answer is yes. The more detailed response is still yes; you have to report and potentially pay taxes on any crypto transaction that results in a taxable event with gains or losses. While not every crypto transaction is a taxable event, many are. Below, we’ll describe how crypto is taxed and what constitutes a taxable event.There’s a question about “virtual currency” on the front page of your tax return, making it clear you need to disclose crypto activity. If you don’t report transactions and face an IRS ...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.Mar 3, 2013 ... ELI5: How do I do my taxes? · Get form 1040EZ from your local post office. · Follow the simple, straight-forward directions on the form. · Done...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 ... 15.3% payroll tax. If you are employee, half of this is paid by your employer. If you are self employed you get to pay all of it. Varying amounts of income tax, starting at 10% and going up to 30+%. depending on how much you earn. The other problem that I have is that calculating your taxes is a pain in the neck. 15.3% payroll tax. If you are employee, half of this is paid by your employer. If you are self employed you get to pay all of it. Varying amounts of income tax, starting at 10% and going up to 30+%. depending on how much you earn. The other problem that I have is that calculating your taxes is a pain in the neck. Notably, tax-preparation companies may offer advances against an expected IRS tax refund. However, unless there's a dire emergency, there's no reason to give up ...As the old adage goes, taxes are a fact of life. And the more we know about them as adults the easier our finances become. There are many things to learn to become an expert (this ...Tax Software. Cash App Taxes 2024 (Tax Year 2023) Review. Totally free federal and state tax filing. 3.5. Good. By Kathy Yakal. Updated February 5, …Treat the scholarship as tax-free. Her taxable income, after the $12,200 standard deduction, is $6,800, which leads to a tax liability of $680. Include the scholarship as income. Now her taxable income is $8,800, which leads to a tax liability of $880. But those $2,000 of expenses now qualify her for the AOTC.ADMIN MOD. Reminder, use your Triangle Mastercard to pay municipal taxes and bills. This has been mentioned many time before; you can use your Canadian Tire/Triangle Mastercard to pay bills. You also get 1% reward for paying your bill, which could be a substantial amount depending on your municipal taxes. Not every bill payees or …As the old adage goes, taxes are a fact of life. And the more we know about them as adults the easier our finances become. There are many things to learn to become an expert (this ...Nov 11, 2016 ... "Taxes" as we call it (i.e. income tax, property tax) ... There are sales taxes and income taxes (and property taxes ... Reddit · reReddit: Top po...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.Jan 18, 2023 ... No, that program, IRS Free File, has an income cap, a bit more than $70k. FreeTaxUSA has no restrictions on using their program to file federal ...In terms of tax liability, yes, any pre-tax deduction will lower your tax liability. This can be your health insurance premiums, traditional TSP, FSA/HSA, traditional IRA, etc. If it's traditional contributions, then it will reduce your taxable income. But it will also reduce the withholding accordingly.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 federal tax law changes from 2018 severely restricted the amount of deductions for most people for state and local taxes and mortgage interest and real estate taxes. Before those changes ...Current_Caramel317. •. I got approved (after a long wait) and I’m expected to receive my refund on March 7, according to the app. I checked online and I’m expected to receive my refund on March 3. However, a few days later, I tried to check again (because IRS adjusted the amount), and it kept saying incorrect.Unlike Twitter or LinkedIn, Reddit seems to have a steeper learning curve for new users, especially for those users who fall outside of the Millennial and Gen-Z cohorts. That’s to ...For example, in this case, you have $10,500 of expenses. You need $4,000 of net expenses to get the full credit, which means you can exclude $6,500 of taxable scholarship. If the terms of your scholarship allow for it, you could report an income of $16,500 (total scholarship) - $6,500 (able to be excluded) = $10,000.Feb 19, 2023 ... It's how the government collects money to pay for services like the military, police, school, judges and courts, medical insurance, etc. The ...So that's saying that if you earned $100k, you could donate and take a tax deduction for up to $60k in donations, but certain donations would be limited to $20k-$50k in donations deducted. The amount you deduct means you don't pay taxes on that amount, so if you did deduct $60k of your $100k in income, you'd save about $13k in taxes, with the ...true, but if you file by paper it could take months/years for the irs to process your return. they are still working through the backlog of paper returns from the 2020 tax year. And it's only free if you make less than 50k, at least that's the way it was last year. That was the Free File program that Intuit left.The plugged-in transaction history from Kraken onto Koinly shows the following results but I need to pay to generate tax documents for individual years. I made 52 transactions in 2021, Capital gains/ PNL- $-169.11. I made 0 transactions in 2022, Capital gains/ PNL- $0. I made 0 transactions in 2023, Capital gains/ PNL- $0.New York CNN —. Reddit on Monday said it expects to price shares between $31 and $34 each when it makes its long-anticipated initial public …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).I've seen the following. -Taxes for Expats. -Greenback Expat Tax Services (mixed reviews) -Bright Taxes (mixed reviews) -1040 abroad. -CPAs for Expats. -HR Block (probably want to avoid) -Many based here in Canada but very expensive and probably not worth it, since i can do my own Canadian return. 10.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.When tax season approaches, that means it’s time to get a copy of your W2 from each job you worked that tax year. If you don’t receive copies before your appointment to have your t...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 federal tax law changes from 2018 severely restricted the amount of deductions for most people for state and local taxes and mortgage interest and real estate taxes. Before those changes ...From a Q&A posted on turbotax earlier this year [ Link ]: "Payments for your plasma sale activity are taxable income but not self-employment income. Therefore, you will pay income tax, but not social security or medicare taxes on the payments. The payments are entered as "other income" ... If you have a W2 job, your withholding may be enough to ...Reddit, often referred to as the “front page of the internet,” is a powerful platform that can provide marketers with a wealth of opportunities to connect with their target audienc...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.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 18, 2023 ... No, that program, IRS Free File, has an income cap, a bit more than $70k. FreeTaxUSA has no restrictions on using their program to file federal ...For tax purposes: you should save receipts for things you will deduct from your income on taxes. This typically only comes into play if you are doing itemized deductions. The reason for saving them is in case of an audit by the IRS to show that the amount deducted was in fact an allowable expense. 12. MDfoodie.Here are relevant Reddit links I have found, but I was not completely sure. https://www.reddit.com/r/tax/comments/129338c/canadian_nonresident_alien_received_1042s_for/ …There’s a question about “virtual currency” on the front page of your tax return, making it clear you need to disclose crypto activity. If you don’t report transactions and face an IRS ...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 …A Warning About TurboTax. I went to file my taxes yesterday the same way I have done for several years, with the TurboTax free file. I noticed a few things that I thought I'd share: When I got to the section for the child and dependent care credit, the software kept telling me that I don't qualify. I knew that I still qualified for the credit ...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.This month, Reddit is poised to reach the stock market in one of the first tech initial public offerings of the year. Its move stands out. Unlike a recent crop of …Pre-deduct the penalty (in OP's case, penalty cancels the 12/1 interest) Basically, track the value shown on TreasuryDirect website on 12/31, not 1/1. If purchased $5k, on Dec 31 2021 it was still $5k, there's no increase in redemption value, hence $0 interest income. Also expect a 3 month interest spike when the penalty goes away.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. Per federal law this interest is not supposed to be taxed at the state level only federal, however credit karma system appears to be subjecting this income to state (PA), income tax and my state return drops from $90 to $78 after I entered the information. Used CK last night after over a decade of using TurboTax. If you are a US citizen, you cannot legally avoid taxes on crypto The long term capital gains can be $0 in certain situations FILING STATUS 0% RATE. Single Up to $40,000. Married filing jointly Up to $80,000. Married filing separately Up to $40,000. Head of household Up to $53,600. Open a charitable trust or Self-directed Roth IRA or IRA trust as they can grow …Dec 2, 2021 ... Generally speaking, expect 25%-33% of your income to go to taxes. This is normal. In many non-American developed countries, this can be closer ...A user shares a comprehensive list of resources and tips for filing an individual tax return in 2022, including IRS Free File, free tax preparation programs, and self …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...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.the_ferryman_abides. •. Yeah, 2021-2022 the self-employment tax rate is a little over 15% of NET up to like $130,000. After your 20% pass through deduction and business miles/ standard deduction, writing off all Lyft/Uber fees as business expenses, you're probably not paying much in tax. Reply reply.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 … Hi, r/taxadvice, I'm looking for guidance. I am a resident of DC. Last summer I had my employer's HR update my mailing address to one in Texas for personal reasons. I only recently realized that since that change, they started applying Texas income withholding, i.e. 0%. Posted March 15, 2024 at 6:00am. Some Senate Democrats are pushing to bring a popular House-passed $79 billion tax package to the floor …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 ...Oct 26, 2022 ... The strategies that I know of include: bonus depreciation, pre-tax retirement contributions (like SEP IRA, Solo 401K) , 1031 exchanges, pretty ...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 ...New York CNN —. Reddit on Monday said it expects to price shares between $31 and $34 each when it makes its long-anticipated initial public …If a trader makes more than 250k in a year in securities, then the trader owes an additional 3.8% in taxes due to Obamacare for every dollar over 250k. This is on top of whatever federal tax bracket you are in. Edit for this. There are multiple tax brackets based on how you file. A single trader the threshold is 200k, married filed separate is ...Jan 30, 2024 ... There was a video on Reddit yesterday with a woman explaining why everyone's taxes are going up. I believe she said it was Paul Ryan's tax ... Most (not all) people take the standard deduction if they don't own a home. Mortgage interest, real estate taxes, and state income tax (or sales tax paid if you live in a state with no income tax) generally make up the biggest deductions. Medical expenses are only deductible if they exceed 10% of your income. 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.Business Insider estimates that the OpenAI CEO owns a maximum of just about 1.66 million shares of Reddit. With the company's estimated price per …the_ferryman_abides. •. Yeah, 2021-2022 the self-employment tax rate is a little over 15% of NET up to like $130,000. After your 20% pass through deduction and business miles/ standard deduction, writing off all Lyft/Uber fees as business expenses, you're probably not paying much in tax. Reply reply.But while Gates stood up for companies and the pursuit of wealth, he said in his Reddit AMA that billionaires could stand to be kept in check through … 20% Social Security. 20% Defense. 14% Safety Net programs. 7% Benefits for Federal Retirees and Veterans. 6% Interest on the Federal Debt. 3% Education. 3% Transportation and Infrastructure. And the rest gets broken up into smaller pieces. So 41 cents of every dollar you pay in taxes goes to Social Security, Medicaid and Medicare. 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). A user shares a comprehensive list of resources and tips for filing an individual tax return in 2022, including IRS Free File, free tax preparation programs, and self-filing options. The post covers different income levels, states, foreign addresses, and special situations such as military, prior years, and US expats. 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. ·. A user asks for tips on doing taxes for the first time and gets some replies from other Reddit users who share their experiences and advice. Some suggest using Turbo …FreeTaxUSA® - Free Tax Filing for All Federal Returns, E-File Income Taxes Online. Pricing & Products. Support. Prior Year. After You File. 100% free federal tax filing. E-File your tax return directly to the IRS. Prepare federal and state income taxes online. 2023 tax preparation software.After taxes, benefits, retirement: $15,000/mo in NYC community EM. ETA: love that this sparked a discussion on NYC taxes so I’m happy to report that I’m moving out of the city in 5 weeks! To California 😂. Zealousideal-Cry709. • 2 yr. ago.Tax "Refunds" -- Not Ideal. Capital Gains and Capital Losses. Other Taxes. Frequently Asked Questions about Taxes. Should I see someone about my …Jan 19, 2021 ... I have used FreeTaxUSA to file my mom's taxes for the last 5 years and it's super easy and 100% free for federal e-file. If you have to file ...In today’s digital age, having a strong online presence is crucial for the success of any website. With millions of users and a vast variety of communities, Reddit has emerged as o...Jan 27, 2012 ... ELI5: Filing Taxes · You'll file a federal tax return and a state return (unless you live in a state without income tax like Texas) · The "&... IIRC correctly, underpayments are figured quarterly because the IRS requires payment in full (or close) and on time. It sounds like you were likely underpaid in Q2 and that underpayment may have persisted into Q3. Obviously by Q4 you had met the safe harbor criteria. Fill out Form 2210 (or look at the form view in your tax software) to confirm. The short answer is yes. The more detailed response is still yes; you have to report and potentially pay taxes on any crypto transaction that results in a taxable event with gains or losses. While not every crypto transaction is a taxable event, many are. Below, we’ll describe how crypto is taxed and what constitutes a taxable event. A user asks for tips on doing taxes for the first time and gets some replies from other Reddit users who share their experiences and advice. Some suggest using Turbo Tax, FreeTax USA, or IRS Free File, while others warn about the risks of using Turbo Tax or H&R Block.
Confused about local taxes. Unsolved. I am filing a joint return with me and my wife. Everything has gone smooth up until the local taxes part. My wife had 2 employers plus unemployment last year. #1 she worked at the beginning of the year at the office, then remotely for a month or so. They neglected to withhold any local taxes, not for the .... Why does my cat purr so loud
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 federal tax law changes from 2018 severely restricted the amount of deductions for most people for state and local taxes and mortgage interest and real estate taxes. Before those changes ... Welcome! This is a group to discuss all 2023 US Tax Filing/Refund type questions and to post updates. January 23: IRS begins 2023 tax season and starts accepting and processing individual 2022 tax returns. January 27: Earned Income Tax Credit Awareness Day to raise awareness of valuable tax credits available to many people – including the ... 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). ... Stop being all smart on Reddit!!!! Reply reply [deleted] • ... For example, $100k SE profit = $14.1k in SE tax (15.3% of 92.35% of net SE profit). The SE individual gets to subtract ~$7k to make their taxable income ~$93k. With an S-Corp, with the same $100k they'd likely pay the "employee" $93k and pay $7k in ER FICA tax. The employee's W-2 would should $93k of income= the same as SE income after the ... KJ6BWB. •. now since turbotax doesn't participate in the free file program anymore. Intuit owns TurboTax. They also own Cash App Tax (formerly credit karma). Cash App Tax is completely free in all ways. They'll probably start charging for it in the future but this year it's the best completely-free tax software that I've found.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.Posted March 15, 2024 at 6:00am. Some Senate Democrats are pushing to bring a popular House-passed $79 billion tax package to the floor …Also some include the state tax return for free. Just finished both in TurboTax and FreeTaxUSA and they both came out to the same exact amount for my return, so that helps my confidence. The main difference that I noticed is TurboTax wants to charge $69 and FreeTaxUSA wants to charge $0. As for User Experience, they definitely feel different.Feb 1, 2013 ... r/MontgomeryCountyMD icon. r/MontgomeryCountyMD · Any entrepreneurs here? 33 comments. Top Posts. Reddit · reReddit: Top posts of February 1, ...Nov 11, 2016 ... "Taxes" as we call it (i.e. income tax, property tax) ... There are sales taxes and income taxes (and property taxes ... Reddit · reReddit: Top po...If you didn't file an extension before 15 April 2022, then your delinquency will be calculated from that date. If your taxes are withheld from wages, then your tax bill may be small. It may be that you owe nothing at all, but that would only be the case if your withholding is high enough. As others have said, just do it.Free to all military members and not just for a basic 1040ez like some other options. FreeTaxUSA has an AD military free file offer - as long as your AGI is under $73k and you were AD in 2021 (have a W-2 from an AD employer), you can file everything for free...federal, state, any sort of tax situation (interest, dividends, capital gains, self ...So that's saying that if you earned $100k, you could donate and take a tax deduction for up to $60k in donations, but certain donations would be limited to $20k-$50k in donations deducted. The amount you deduct means you don't pay taxes on that amount, so if you did deduct $60k of your $100k in income, you'd save about $13k in taxes, with the ...Also some include the state tax return for free. Just finished both in TurboTax and FreeTaxUSA and they both came out to the same exact amount for my return, so that helps my confidence. The main difference that I noticed is TurboTax wants to charge $69 and FreeTaxUSA wants to charge $0. As for User Experience, they definitely feel different.Matthew Holst/Getty Images. CNN —. After a long season, the hopes of the top NCAA basketball programs all come down to this. On Selection …If recommended CashApp’s tax service. Very simple, 100% free, and any refund is direct deposit to your bank not cash app. vorter. •. Yeah if your AGI qualifies for the free state I’d do that. Cash App Taxes is also completely free. Run your numbers through TurboTax just to make sure the refund amounts match up.There’s a question about “virtual currency” on the front page of your tax return, making it clear you need to disclose crypto activity. If you don’t report transactions and face an IRS ....
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