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smackfu posted:In other news, apparently we can deduct some charitable donations again, and I missed it when it happened last year, so that was a nice surprise. I was also surprised to learn that you can basically tick a box to take off $300. Now I need to track down evidence since I'm sure my Mint search for "charity" category won't cut it. edit: Am I right in reading that you just have to have receipts on hand in case the IRS comes calling? Freetaxusa didn't ask me for receipts or anything like that when I ticked the $300 box. withak fucked around with this message at 20:17 on Feb 3, 2021 |
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Feb 3, 2021 19:48
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| # ¿ May 12, 2024 11:41 |
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smackfu posted:(My only complaint is that the “path” to entering a back door Roth happens in a weird order and makes it look like you have to pay taxes on it for a while.) Yeah, this worried me until I looked back at last year's inputs to figure out why my 6k wasn't being subtracted yet.
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Feb 8, 2021 19:35
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I don’t see anything that could go wrong with that plan.
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Mar 9, 2021 22:29
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eddiewalker posted:What do I do if I’ve already fully-funded my Roth for 2021 then my income ends up over the contribution limit? 1. You will have to tell your investment guy/website to recharacterize the 2021 contribution as a Trad IRA contribution instead of a Roth. Then after that clears, transfer it back and it will go into your 2021 taxes as a Trad IRA contribution and a backdoor Roth. 2. Income is income, capital gains will count towards the limit.
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Apr 26, 2021 04:00
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eddiewalker posted:Is this something I can wait until tax time next year to take care of? Presumably, because you won’t know your income until then. Or maybe it needs to be in the calendar year IDK.
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Apr 26, 2021 04:11
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I think it means you don’t get penalized for significantly underpaying the first time it happens. Presumably they are aware that most people have no idea what the rules are about that until the year they end up inadvertently owing a lot and have to do some research to figure out why.
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Jun 10, 2021 20:41
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 @ the passive-aggressive accounting revenge
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Aug 1, 2021 21:44
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Keep waiting for the letter with the EFTPS login number.
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Dec 12, 2021 22:36
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I've used FreeTaxUSA for the last few years and have no complaints.
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Jan 12, 2022 18:24
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H110Hawk posted:Yup. If people compared their "Tax:" line on the 1040 year over year they would be less mystified. But they don't, they only pay attention to what's front and center on TurboBlock: Redund/Owe. They should just check the spreadsheet and graph they have been keeping showing how these numbers have changed from year to year.
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Feb 16, 2022 19:45
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In the year 2022 we should all assume that our information is leaked and that there has been some identity theft thing that we haven't been told about.
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Feb 23, 2022 03:36
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ExcessBLarg! posted:I realize the IRS won't automatically have paperwork for self-repeorted income and all, but why can't the IRS have a portal where you can download forms (or at least numbers) for what they do have? Probably this kind of convenience is type of thing that H&R Block, Intuit, et al. spend so much money lobbying against.
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May 8, 2022 17:51
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Kiting checks is illegal.
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May 11, 2022 22:12
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Dang that’s sneaky.
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May 21, 2022 03:27
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This is why I try to make as little money as possible.
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Sep 18, 2022 17:38
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One weird trick, IRS hate it.
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Jan 26, 2023 17:11
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You can do a backdoor Roth for 2022 right now. Contribute to a Trad IRA (choosing 2022 when it asks you) then after that transaction clears in a few days find the button to transfer that money to your Roth IRA. You will have to pay taxes (next April) on any gains that you get while it is in the Trad IRA but that will be zero as long as you don't invest it for a while before transferring to the Roth. Not sure if you would do the 8606 form for 2022 or 2023 though.
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Feb 9, 2023 21:48
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freetaxusa.com (not a scam)
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Mar 13, 2023 22:37
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You may not get to deduct the original contribution, but the gains are tax-free. DO IT.
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Mar 19, 2023 04:56
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RIP
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Apr 21, 2023 01:40
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When you are a W-2 employee then your employer pays some tax for social security and Medicare for you. When they switch you to 1099 then they don’t have to pay that any more. Your new employer (you) has to pay it instead.
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Jul 4, 2023 19:20
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Isn’t having someone else set your hours one of the contraindicators of being a 1099?
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Jul 5, 2023 18:05
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I think as long as you initial the edits you can insert as many "not"s into the tax form as you like.
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Oct 25, 2023 15:52
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pmchem posted:we tried both that and the online turbotax last year. online turbotax got us a lower tax bill and we weren't audited yet
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Nov 26, 2023 00:29
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KillHour posted:This year is the first year I have an ESPP and I usually use Free Tax USA so this is good info. The trick is to realize that the employer contribution (the free money) in your ESPP is double-counted in both your W2 and in the 1099 from your broker if they show discounted prices as the cost basis, so you have to add that number to the cost basis as an adjustment. My employer shows the number in the "other" box on my W2 but I don't know if that is standard.
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Nov 26, 2023 23:42
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Then you are fine because it won’t be double-counted I think. The gains on the 1099-B will be accurate.
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Nov 27, 2023 12:50
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Depends on what the 1099 says when they send it to you in the year after you sell.
withak fucked around with this message at 17:15 on Nov 27, 2023 |
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Nov 27, 2023 17:13
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Post a link to the GoFundMe to go to their house and I will contribute.
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Jan 23, 2024 03:10
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| # ¿ May 12, 2024 11:41 |
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Submitted my taxes early, feels good man.
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Mar 2, 2024 22:41
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