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Posted on 2/18/25 at 9:24 am to NatalbanyTigerFan
I'm pretty sure it's a board rule that the first tax thread of the season has to have this posted to be legit.
Posted on 2/18/25 at 9:25 am to LNCHBOX
quote:
You're aware that you will still owe last years taxes, right?
Your money already went to increase voter turnout in India so you better get it in ASAP.
Posted on 2/18/25 at 9:25 am to NatalbanyTigerFan
filing an extension, gonna see what Trump does
Posted on 2/18/25 at 9:26 am to BoogaBear
quote:
Showing that it shouldn't have been funded over 2,500 for those over 150k. I even got a note from my employer about it.
There is a limit if you make over $155k, but if your wife’s income put you into the 24% bracket it shouldn’t affect you because it’s by employee not total income level
Posted on 2/18/25 at 9:32 am to NatalbanyTigerFan
File as soon as possible. Uncle Sam needs your hard earned cash. Gaza condoms and Irish tranny operas aren't gonna fund themselves.
Posted on 2/18/25 at 9:35 am to Green Chili Tiger
quote:I mean, yeah, maybe, so long as you not paying $30K doesn't subject you to a withholding penalty in addition to the $30K.
I can use that money all year long to earn interest or investment income
Posted on 2/18/25 at 9:36 am to NatalbanyTigerFan
I pay every year. After paying like 28k already. Really feel like sending the IRS a frick you letter instead since all they do it send it to fund queer shite in 3rd world countries.
Posted on 2/18/25 at 9:37 am to Mingo Was His NameO
The lack of proper tax planning, fundamental lack of understanding about income taxes, and overall poor budget knowledge of this board.
Plan ahead and don't get screwed. Don't use TurboTax, they gouge you. Use freetaxusa if you have to use an online service. 98% of the budget is funded through income tax. Remove federal income tax and the military is removed. Stop believing everything Elon says, they are not doing in depth proper reviews. Just baselayer and then spouting out "look! 1.2 trillion we don't know what it is"
Plan ahead and don't get screwed. Don't use TurboTax, they gouge you. Use freetaxusa if you have to use an online service. 98% of the budget is funded through income tax. Remove federal income tax and the military is removed. Stop believing everything Elon says, they are not doing in depth proper reviews. Just baselayer and then spouting out "look! 1.2 trillion we don't know what it is"
Posted on 2/18/25 at 9:40 am to Mingo Was His NameO
First year my income went over the threshold apparently. Wife's income plus mine put us in the 24 bracket.
Posted on 2/18/25 at 9:41 am to NatalbanyTigerFan
Sad that you think your 1800 bucks is more important than the lives of trans people in Burma
Posted on 2/18/25 at 10:11 am to Green Chili Tiger
quote:
frick all that. I can use that money all year long to earn interest or investment income and just write a check once a year. I'm not interested in giving the government an interest free loan all year.
Not a bad way to go as long as you know the hit is coming and can handle it.
How do you get around the federal requirement that you have paid 90% of your tax liability for the year?
ETA: If's not W2 withholding, then this doesn't matter, of course.
This post was edited on 2/18/25 at 10:13 am
Posted on 2/18/25 at 10:13 am to DakIsNoLB
quote:
How do you get around the federal requirement that you have paid 90% of your tax liability for the year?
90% of what you owe or 100% of last year
Posted on 2/18/25 at 10:36 am to Mingo Was His NameO
If you live in seven states in the southeast that were hit by Helene, you get until May 1st to file.
Posted on 2/18/25 at 10:38 am to Mingo Was His NameO
quote:
Probably 1099 or self employed.
If you are 1099 and making over 200k or so you would be dumb to not funnel that through an LLC and make yourself a “W2” with proper withholdings
This post was edited on 2/18/25 at 10:39 am
Posted on 2/18/25 at 10:39 am to Cosmo
quote:
If you are 1099 and making over 200k or so you would be dumb to not funnel that through an LLC and make yourself a “W2” with proper withholdings
That’s not how that works
Posted on 2/18/25 at 10:45 am to Mingo Was His NameO
quote:
That’s not how that works
Yes it is
Posted on 2/18/25 at 10:55 am to NatalbanyTigerFan
Owe like 8k between fed and state.
You can file now and pay on 4/15. You don't have to wait to file.
You can file now and pay on 4/15. You don't have to wait to file.
Posted on 2/18/25 at 10:55 am to Cosmo
quote:
Yes it is
No it’s not. Creating an LLC does absolutely zero in changing how your income is subject to tax.
I assume what you mean is making an S corp election which takes a hell of lot more effort than what you’re trying to describe
This post was edited on 2/18/25 at 10:57 am
Posted on 2/18/25 at 11:13 am to NatalbanyTigerFan
Wife and I owe about $10K. We have the money put up to pay it, but I think we're gonna do a payment plan and give them as little a month as humanly possible
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