Taxes reddit.

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 ...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. 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. 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. She gets $2,000 of credit, of which 40% ($800) is refundable. Thus she doesn't owe any income tax ($880 liability is cleared by $1,200 nonrefundable portion of the AOTC) and she gets an additional refund of $800.Carry that new number to your Schedule SE and figure the 15.3% self employment tax on your net earnings from self employment. Also carry your profit over to your 1040. It goes under self employment income. You have to add a Schedule 1 to do this. If you have a W-2 job, add that income under regular wages.

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.

One simple way to see if the IRS has received your tax return, especially if you are anticipating a refund, is to use the IRS’s “Where’s My Refund” tool. The IRS updates refund sta...

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 ...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. … 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. Rhouliha. •. Marginal rates: For tax year 2024, the top tax rate remains 37% for individual single taxpayers with incomes greater than $609,350 ($731,200 for married couples filing jointly). The other rates are: 35% for incomes over …Oct 19, 2023 ... How can i legally stop paying taxes ... r u new to reddit. i'll give u some upvotes ... I mean, and this is not legal advice, just don't pay taxes ...

81 55. u/No_Bill2876. • 6 hr. ago. My timeline: Had to verify and finally got 846 code!!! Filed 1/30. Waited FOREVER for a verification letter. Finally verified 3/8 (In …

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.

Withholding is done on the expected tax of the single W-2 income. When you file you are combining the two incomes and the tax rate increases. Let’s say one person makes $80k and the other makes $30k. The withholding on 80k is done with an expected 80k/yr salary. The withholding on the 30k is done with an expected 30k/yr salary. 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. 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. 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 ...taxslayer. taxact. Next post Can the Tax Office Check Your Bank Accounts? This article provides an overview of the best tax services available for …6 days ago ... We need to verify you lived or worked in New York State, New York City, or Yonkers. You claimed a credit or tax benefit, and we did not receive ...

Jan 21, 2022 ... People like you are why Reddit gets a bad rap. It costs 0$ to be kind. So if you don't have anything nice to say, move along and reflect on ...If you lost $4500, you report that in deductions. You will then pay taxes on the $500 net profit if you can itemize. YOU DO NOT PUT $500 IN THE INCOME SECTION. As we all wondered, unless you have enough deductions to actually itemize, you’re stuck paying taxes on all of the winnings and your losses get lumped into the standard deduction. 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 ... 81 55. u/No_Bill2876. • 6 hr. ago. My timeline: Had to verify and finally got 846 code!!! Filed 1/30. Waited FOREVER for a verification letter. Finally verified 3/8 (In …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.April 18, 2023 is the deadline for declaring your 2022 crypto activity as part of your 2022 U.S. federal income tax return. The 2022 tax year includes any activity between January 1, 2022 and December 31, 2022. Late filings, failure to pay taxes owed, and crypto tax evasion all carry penalties ranging from fines to jail sentences.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] • ...

VITA has the same basic requirements for certification as AARP Tax-Aide but in my area the in-person training was only two days, and was not as thorough. You also could look online for paid courses like the Income Tax School, or the H&R Block training class. I haven't done either of these so I don't know how helpful they are.

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 owe, or are getting back, $500 that is not a big deal. For the most part, a $500 return/payment at tax time is minor. I have owed, or been owed, up to $5,000 at different times with no big deal. Any time an average Joe messes up with their taxes the IRS either cuts you a check or sends you a bill months later.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. …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 ...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 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.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. 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. 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).

Reddit, one of the most popular websites in the world, is hoping for a valuation of up to $6.4bn (£5bn) when its shares go public next week. The social media …

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.

That means your withholding is going to be under. Based on the W-2 information, it looks like you should owe about $7,222 in taxes. If you were paid bi-weekly and all payments were about equal (such as salary), you'd have had $3,541 in withholdings based on claiming zero but not checking the box.If you think that scandalous, mean-spirited or downright bizarre final wills are only things you see in crazy movies, then think again. It turns out that real people who want to ma...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/ …Just wanted to ask lang po kung paano ang magiging computation ng tax for 8% tax type ng online shop. Is it - a. Matic na exempted ako sa full time job then lahat ng sales ko sa shopee ang magkakaron ng tax. Or b. Iaadd full time job income and Shopee sales. If more than 250k, magkakaron ng tax yung mag exceed sa 250k. Sana po may makasagot ...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.Listen. 2:34. Reddit Inc. is telling potential investors in its initial public offering that it expects revenue in 2024 to grow by more than 20% versus the …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.Politics. The IRS has a big opportunity to fix the way Americans file taxes. You shouldn’t need TurboTax to file your taxes. The IRS can and should …One simple way to see if the IRS has received your tax return, especially if you are anticipating a refund, is to use the IRS’s “Where’s My Refund” tool. The IRS updates refund sta...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.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.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 …

April 18, 2023 is the deadline for declaring your 2022 crypto activity as part of your 2022 U.S. federal income tax return. The 2022 tax year includes any activity between January 1, 2022 and December 31, 2022. Late filings, failure to pay taxes owed, and crypto tax evasion all carry penalties ranging from fines to jail sentences.One simple way to see if the IRS has received your tax return, especially if you are anticipating a refund, is to use the IRS’s “Where’s My Refund” tool. The IRS updates refund sta...I would need to use TaxAct Premier (cheapest version that supports Schedule D for investments), which is $40+$40. So it's a little cheaper than TurboTax but still rather expensive. TaxSlayer: $47 for federal filing and $29 for state, cheaper still. FreeTaxUSA is $6 for federal and $14 for state.Instagram:https://instagram. chatgpt prompt generatorkit friendship bracelets2023 documentariesrick and morty season 7 hulu You don’t get to just “decide” to “go exempt”. You must meet specific requirements. Which you almost certainly don’t, given the brief info supplied. All income is taxable and withholding is not optional. If you under withheld now, you still have to pay the tax and probably also additional penalties.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. is there caffeine in twisted teahigh protein food near me 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 ... games like destiny 2 If you owe, or are getting back, $500 that is not a big deal. For the most part, a $500 return/payment at tax time is minor. I have owed, or been owed, up to $5,000 at different times with no big deal. Any time an average Joe messes up with their taxes the IRS either cuts you a check or sends you a bill months later.1:56. Russian President Vladimir Putin was on cruise control to another presidential term Sunday despite a drawn-out war and multiple opposition …