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Replies: 24
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Oculus Spirit [85623]
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End of year earnings
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Dec 28, 2023, 8:30 AM
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Earnings: $100.00
Take Home: $67.90
poot
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Orange Blooded [3615]
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Re: End of year earnings
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Dec 28, 2023, 8:45 AM
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You can buy 2 pizzas for New Year's.
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Heisman Winner [136528]
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Thats a pretty gross net***
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Dec 28, 2023, 8:51 AM
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Oculus Spirit [81253]
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Well, at least you don't have to give $15.00
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Dec 28, 2023, 9:17 AM
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BACK to the government.
My wife got a pretty substantial raise this year, so I'd guess we'll be owing in the $13,000 range. Again.
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Oculus Spirit [85623]
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Or you could just adjust your withholdings
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Dec 28, 2023, 9:24 AM
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But I think you like to write a big check in April.
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Oculus Spirit [81253]
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I have one deduction: the standard one.
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Dec 28, 2023, 9:28 AM
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adjusting withholdings appears to be a fruitless endeavor, especially if someone's income increased mid year.
No one like to give money to the wastehole that is the IRS.
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Orange Blooded [4723]
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There's actually a calculator on their website for exactly that
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Dec 28, 2023, 2:32 PM
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but I guess it's more fun to complain to us?
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Oculus Spirit [81253]
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Sure I guess I could take out another $1000+ out of my check every month.
Dec 28, 2023, 2:38 PM
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That sounds delightful.
I'm not sure how I got into this predicament to begin with. It seemed to start when Trump changed taxes around; wasn't that supposed to be a tax cut? I've always had to pay something...but it was never as much as it's been the last 6 or so years.
I guess my frustration with it is I already claim zero dependents and single. Why isn't that enough?
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Orange Blooded [4723]
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Well you're probably paying a penalty on what you're underpaying too***
Dec 28, 2023, 2:44 PM
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Oculus Spirit [81253]
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I've never seen that listed anywhere.
Dec 28, 2023, 3:00 PM
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But when a tax cut ends up costing me more, I guess anything is possible.
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110%er [7010]
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Do you have an accountant? If you are paying that much every year it might
Dec 28, 2023, 3:16 PM
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be worth while to have someone provide some expert advice.
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Oculus Spirit [81253]
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I took my taxes to an accountant 3 years ago
Dec 28, 2023, 3:50 PM
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because I thought after I did them there was no way I owed $7700 and I must have done them wrong.
About a month later he got back to me and told me I owed $7900, and that I owed him $250.
He said I either need to increase my withholding over whatever the amount I had taken out was, or pay at the end of the year.
My wife and I are W2, single, with no deductions (none above the standard deduction anyway) married filing jointly. I've talked to some folks about trying to start an LLC or something and get some deductions that way, but my general understanding is that and trying to offload my tax burden by doing that is pretty shady.
Back when I could deduct my home office(s) and the mountain of stuff we give away to Habitat and goodwill every year it was a a tolerable $3-$5K due every year. Now it's just a huge $ drain..every year. And I'm not sure it helps by "upping my withholdings". They just get the money sooner rather than paying at the end of the year in a lump sum. Whats the difference?
I think everyone should have to pay taxes at year end after having it withheld from their check all year long.
Our country would change over night.
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CU Medallion [60149]
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Same.
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Dec 28, 2023, 5:00 PM
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Owe about $30000 a year. Nothing that any accountant does changes that fact.
It is what it is….until reform is enacted…which will be never.
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Oculus Spirit [85623]
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Reform was enacted in 2018
Dec 28, 2023, 5:43 PM
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all you sorry standard deductioners got a 2-4% tax reduction
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All-In [27265]
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Here me out.
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Dec 28, 2023, 9:30 AM
[ in reply to Or you could just adjust your withholdings ] |
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What if instead of protesting taxes by not paying them, a guy makes out one of those huge checks and gets the IRS to play along because they think it's all fun and games and everybody gets a big haha. The turn is that now the guy has video/photographic proof of handing a check, and them accepting it...BUT NO BANK WILL TAKE IT!!!!
omg this is going to revolutionize the sov civ market.
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All-In [43012]
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Rats - Off by a dollar and a dime.***
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Dec 28, 2023, 9:21 AM
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Oculus Spirit [85623]
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At first, I thought you did your personal maths.
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Dec 28, 2023, 9:26 AM
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I wanted IE to do his and say 80% and then we would all be like no wonder you are writing a megacheck every year ya big dummy.
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Oculus Spirit [81253]
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I don't know what I took home this year.
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Dec 28, 2023, 9:29 AM
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I do know it's not enough.
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Oculus Spirit [85623]
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It never is***
Dec 28, 2023, 9:30 AM
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110%er [7010]
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May your refund be larger than your mega-shed.
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Dec 28, 2023, 9:30 AM
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I get the argument about not giving the gubmint an "interest free loan" but I'd rather get that refund than have to stroke them a check.
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Oculus Spirit [85623]
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Same here, I used to get a large refund and I would buy something
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Dec 28, 2023, 9:32 AM
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yuuuge.
Now I usually have to pay federal and get a small state refund that almost balances out.
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All-In [27265]
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Oculus Spirit [81253]
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Writing one big one***
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Dec 28, 2023, 9:40 AM
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All-In [27265]
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Well okay. I stand corrected.***
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Dec 28, 2023, 9:42 AM
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Oculus Spirit [78992]
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earnings and take home the same
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Dec 28, 2023, 9:52 AM
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0.00
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50
