Taxes reddit

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 ...

Filing Taxes: W-2 Box 14 Explained. Taxes. Hi Everyone, I just personally filed my taxes for the first time. I used H&R Block as they have free Federal returns AND free State returns, as long as your Adjusted Gross Income is $69,000 or less (most of the other services offer free Federal returns, but charge for state returns, as can be seen on ...Tax calculators are useful for those who would like to know information about their take-home pay after deductions occur. Here are some tips you should follow to learn how to use a...Reddit is a popular social media platform that boasts millions of active users. With its vast user base and diverse communities, it presents a unique opportunity for businesses to ...TurboTax vs. TaxAct 2024 (Tax Year 2023) Written by Laura McCamy. Updated. Mar 8, 2024, 11:14 AM PST. Our experts answer readers' tax questions …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...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 ...

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.Yes, often normal as both companies were withholding taxes based on your wages at the respective companies. Company A withheld based on the belief you would have $39,000 of income. Company B withheld based on the belief you would have $77,000 of income. In fact, you had $116,000 in income. Yes. 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. California Use Tax Information. The sales and use tax rates vary depending on your retail location. The sales and use tax rate varies depending where the ...It is not illegal to forget to claim a deduction. The only thing to do is remember that the next time you are selling stocks, you should get a 1099 from your broker, but those come later than W-2s do, so don't be too eager to file and then need to file an amendment to report gains. 2. DBCOOPER888. • 4 yr. ago.Normally, if you just have one job, payroll withholding for SS tax stops after you pass $147,000. But, if you’re overemployed, there is no way for your payroll provider to know that you have another job. That means if you have J1 comp of $147,000 and j2 comp of $100,000, throughout the year you pay social security tax on $247,000 of income.

5 min. President Biden will propose a set of new housing initiatives in Thursday’s State of the Union address, including tax credits to offset high …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 ...Reddit is a popular social media platform that boasts millions of active users. With its vast user base and diverse communities, it presents a unique opportunity for businesses to ... ADMIN MOD. Tax Advice for 2024: Do not file with Turbotax. Taxes. On Feb. 5 I attempted to file my taxes. My family qualifies for a tax credit due to energy updates to our home during 2023. There was no place in the tax credits section to file for this tax credit. In order to find out how to file this credit, I had to upgrade to Live-Assisted. 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.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.

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Former BharatPe co-founder Ashneer Grover on Friday "thanked" the Income Tax department for the timely closure of the faceless assessment of his IT … 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. 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. It’s not uncommon for people to not know there SARS tax number. Having this number is very important for tax purposes. Keep reading to learn what a SARS tax number is and your vari...

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...I have sinking funds for taxes/insurance that I contribute to monthly. To figure how much to set aside, I take last year’s bills and add 10% to cover any increases, then divide by 12. Insurance is set up to pay automatically when due in August, and in early December I pay my property taxes online in about 2 minutes.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. ... Turbo tax was pretty easy to use but they try and up sell the hell out of everything. I don’t know if I could have gotten out of there under $70 all in.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.ADMIN 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.Reddit’s IPO plans are coming into focus with a new S-1 filing released Monday morning that sets an initial price range for its stock at $31 to $34 per …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 ... 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. 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 ... r/IRS: Get help with your taxes from experts and fellow taxpayers. Stay ahead of the curve with news and updates. Find answers to your questions….

The standard deduction this year is $13,850 for single filers and married couples filing separately; $20,800 for head-of-household filers; and …

In the U.S., the cryptocurrency tax rate for federal taxes is the same as the capital gains tax rate. In 2021, it ranges from 10-37% for short-term capital gains and 0-20% for long-term capital gains. In the US, crypto-asset gains are calculated using two factors: your income bracket, and how long you have held the cryptocurrency.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 … 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. Cashapp tax had 0 fees. I didn't have any issues getting setup on my desktop, but cash app didn't have some features that make turbo tax very easy. I couldn't upload any documents and typed everything individually. Luckly it was pretty easy to do so since I could just review what I put in turbo tax. 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. ADMIN MOD. Tax Advice for 2024: Do not file with Turbotax. Taxes. On Feb. 5 I attempted to file my taxes. My family qualifies for a tax credit due to energy updates to our home during 2023. There was no place in the tax credits section to file for this tax credit. In order to find out how to file this credit, I had to upgrade to Live-Assisted. You could always get the tax forms and fill them out yourself with a pen and paper. If you have simple taxes, you can do it for free through TurboTax and H&R Block. Can't get any cheaper than that. Also check out the tax software megathread. There are many options, especially if your income is below $66k or so. 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.

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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. 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 ... 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 … ADMIN MOD. Tax Advice for 2024: Do not file with Turbotax. Taxes. On Feb. 5 I attempted to file my taxes. My family qualifies for a tax credit due to energy updates to our home during 2023. There was no place in the tax credits section to file for this tax credit. In order to find out how to file this credit, I had to upgrade to Live-Assisted. 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 ...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 "&...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.DeeDee_Z. • 1 yr. ago. There's pretty much only one way to reduce your taxes: reduce your taxable income . Much insight can be gained by actually -reading- your tax return. • See where the income comes from, so you can reduce it; • see what takes income away, so you can increase it; • discover that a "writeoff" is actually -spending ... ….

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 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. Don't post questions related to that here, please. ... At least for federal taxes, effective 2018 employee ...Since expenses reduce your profit, less of your business income is subject to SE tax. If your expenses in 2020 were also about one third of your gross income, then your net self employment income would be about 14k. Self employment tax would be about $2000 and income tax would be less than $150.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. ... Turbo tax was pretty easy to use but they try and up sell the hell out of everything. I don’t know if I could have gotten out of there under $70 all in.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 ....For the lowest tax bracket (up to $11,000/year income), single filers will be charged less $14.50 per YEAR in taxes. For the second tax bracket (up to $44,725), single filers will be charged less $295 per YEAR less in taxes plus the $14.50 above for a total of $309.50 more back on your annual pay.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 … Taxes reddit, [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1]