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Message
re: Cry about your taxes here
Posted on 1/31/23 at 12:44 pm to thelawnwranglers
Posted on 1/31/23 at 12:44 pm to thelawnwranglers
I expect to owe about 70k. It's gonna suck.
I'm pretty sure I overpaid my property tax though so I'll get a few hundred from that back hopefully lol
I'm pretty sure I overpaid my property tax though so I'll get a few hundred from that back hopefully lol
0
Posted on 1/31/23 at 12:48 pm to whiskey over ice
quote:
She almost put us over the limit for Roth IRAs
I didn't know this was a thing until my financial advisor called and told me. Told me I had to change from a Roth to a traditional.
Posted on 1/31/23 at 12:50 pm to Dr.Funke
quote:
I didn't know this was a thing until my financial advisor called and told me. Told me I had to change from a Roth to a traditional.
Make sure you dont have a 401k via your employer.
Posted on 1/31/23 at 1:21 pm to tigerfoot
quote:
What is your suggestion?
I vote for Libertarians every year.
Posted on 1/31/23 at 1:40 pm to Aubie Spr96
quote:
I vote for Libertarians every year.
YAY OPEN BORDERS!
Posted on 1/31/23 at 1:59 pm to Fat Bastard
Changed jobs, double dipped bonus, signing bonus and relocation package.
Going to be a brutal year for me, 5 figure year for me it looks like.
Easy come, easy go.
Going to be a brutal year for me, 5 figure year for me it looks like.
Easy come, easy go.
This post was edited on 1/31/23 at 2:00 pm
Posted on 1/31/23 at 2:02 pm to Dr.Funke
If that's all he did, you have a bad financial advisor.
Posted on 1/31/23 at 3:39 pm to thelawnwranglers
I sold a property at a big profit so I’m expecting my tax bill to hurt
Posted on 1/31/23 at 3:47 pm to Dr.Funke
quote:If you have a combined income that gets close the Roth IRA limit depending on bonuses, other investments etc, my CPA recommended to just backdoor the Roth IRA so you won’t have to worry about taking it out if you go over the limit.
quote:She almost put us over the limit for Roth IRAs I didn't know this was a thing until my financial advisor called and told me. Told me I had to change from a Roth to a traditional.
Posted on 1/31/23 at 3:51 pm to thelawnwranglers
If you pay the fee you can see the forms before you click the send button 
.
.
Posted on 1/31/23 at 3:52 pm to notsince98
quote:
Make sure you dont have a 401k via your employer.
A lot of employers offer Roth 401ks, with a much higher contribution limit than a Roth IRA.
Posted on 1/31/23 at 4:00 pm to thelawnwranglers
I made 2.5x my previous best year and didn’t adjust withholdings. My quick math tells me I’m going to hurt like a mfer when I have to file.
Posted on 1/31/23 at 8:21 pm to Dixie Normus
quote:
I made 2.5x my previous best year and didn’t adjust withholdings. My quick math tells me I’m going to hurt like a mfer when I have to file.
You shouldn’t need to adjust your W-4 just because your income went up.
Posted on 1/31/23 at 8:26 pm to NYNolaguy1
quote:
you pay the fee you can see the forms before you click the send button .
I figured it out still butt hurt on $4k lol
Posted on 2/1/23 at 7:22 am to thelawnwranglers
Probably owe around 35k, but with a 8k state refund
Had same problem last year, tried to fix withholdings but apparently did nothing
Anybody here ever done an IRS installment plan? Trying to decide if it's worth it but probably won't end up doing it.
Had same problem last year, tried to fix withholdings but apparently did nothing
Anybody here ever done an IRS installment plan? Trying to decide if it's worth it but probably won't end up doing it.
Posted on 2/1/23 at 7:50 am to metallica81788
quote:
Probably owe around 35k, but with a 8k state refund
Had same problem last year, tried to fix withholdings but apparently did nothing
Anybody here ever done an IRS installment plan? Trying to decide if it's worth it but probably won't end up doing it.
If you're salaried and your income is fairly stable..e.g meaning your taxes due/tax liability is stable... then I would just make an account on the eftps website and submit quarterly estimated tax payments in addition to whatever is withheld.
So i.e. if you owe 35k, you can easily split 35k into ~8k payments. These can be scheduled so don't have to log in every time.
Feel free to shoot me a text if you want to go into more detail.
This post was edited on 2/1/23 at 7:51 am
Posted on 2/1/23 at 7:50 am to thelawnwranglers
I'm now paying >six figures in taxes. I'm just glad half the population doesn't have to pay anything
Posted on 2/1/23 at 7:52 am to TheOcean
quote:
I'm now paying >six figures in taxes. I'm just glad half the population doesn't have to pay anything
Yes I enjoy paying my 6 figure student loans back, while also paying my 6 figure tax bill which helps pay everyone else's student loans as well.
I don't cry anymore. I just bend over and take it.
Posted on 2/1/23 at 7:59 am to Puffoluffagus
quote:
If you're salaried and your income is fairly stable..e.g meaning your taxes due/tax liability is stable... then I would just make an account on the eftps website and submit quarterly estimated tax payments in addition to whatever is withheld.
So i.e. if you owe 35k, you can easily split 35k into ~8k payments. These can be scheduled so don't have to log in every time.
I thought about doing that last year but then said frick paying the IRS four times a year, rather just deal with the one big shitty situation a single time
Plus new job this year it's all going to change anyway and get even more complicated moving forward
IIWII
Posted on 2/1/23 at 8:31 am to Puffoluffagus
shite you refinanced your fed loans?
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