Anyone Else Not File Your Taxes Yet? (1 Viewer)

[Sand]

Someone has been filing with my daughter's name and SSN the last couple years so I'm waiting on a PIN for my daughter. I should have had it by now, but I haven't seen it. This probably means my daughter will need to call the IRS a dozen times before she can get through to someone to get her PIN.

I'm also considering waiting to see if the SALT deduction is increased for married couples. There's talks of making that a $20k limit and making it retroactive to 2023.

I do my own taxes (I use H&R Block software ) and have finished but am waiting to file.

May not be relevant to many of us but there is a pending possible SALT deduction cap increase to $20,000 for MFJ filers with MAGI <$500k. This is retroactive for only the 2023 tax year.

There will be a procedural vote on the 14th on whether it will be allowed to come to the floor for a vote.

SALT Cap Deduction Hike Test Vote Slated for House This Week (1)

Legislation that would double the state-and-local tax deduction cap for joint filers is expected to get a procedural House vote Feb. 14, according to Democrats.

news.bloombergtax.com

A SALT deduction increase would be HUGE for me. Please, please, please. Getting double taxed on friggin' property taxes...

The reaction from high tax states should have been to lower property taxes to something non-extortionary as SALT is good policy. (However we know states, particularly those high tax states, aren't going to voluntarily reduce spending, so we are where we are now). But it looks very likely that the Trump tax cuts will expire and SALT limit will go away permanently. So a bit of plus and minus monetarily there in the long term as tax brackets bump back up, too.

All that said I have finished my taxes for the most part and it looks like small refunds from state and feds. Might finally be a year I calculated stuff out right.

The combo of the reduced standard deduction in 2026 plus the shift in brackets from 22% to 25% and 24% to 28% will hurt. Quick math says it will cost me $7k-$9k. Good news is I turn 50 in 2026 so catch up contributions could bring the pain down ~$2k.

Definitely a push pull. It will hurt me as I barely get over the SALT cap, so don't get impacted by it a lot, but certainly will by the bracket change. Other folks who live in states that have insane property taxes may end up on the positive side.

 

[Mrs. Rannous]

our final report from Vanguard never comes in before late February ...so no.

That's weird. Ours are in. What is causing the delay there?

 

[Mrs. Rannous]

i have to sit down and figure stuff out - i messed up with my son and never claimed school stuff the first year so I want to be sure I do it correctly

I spend about $350 a year for my guy to do our taxes. Best money I spend every year.

99% of the time I have a stadndard deduction - im as close to being able to do a 1040ez as one can be owning a home

My wife used to go to one of those tax places - we went the first time we got married and I was like dude is just filling in boxes in Turbo tax.... I've done it ever since. When the guy said to me you should inquire about getting certified to doing tax prep i was like gtfo

I need to find an actual accountant soon I think

I always do mine before I go to my tax guy. He always gets me more back then what I do when I try on my own.

It's little things he does, like giving me the maximum deduction for charitable contributions without needed to show proof I made the donation. Plus, he handles any audits (haven't had any) or amendments to returns (I did have to do that once).

We use TaxAct Online. Mr R has a skill for this stuff. And it handled the one time we had to file an amended return easily. (T Rowe Price sux.) When our returns got complicated, we had to pay $40 to file online. We don't have a state tax, so that doesn't factor in for us.

 

[Wingnut]

My refund hit my bank account yesterday. I filed Jan 29th.

 

[Snotbubbles]

My refund hit my bank account yesterday. I filed Jan 29th.

Yeah, I file the second week of February every year and last year my refund took around a week. It usually takes two to three.

 

[Keerock]

Someone has been filing with my daughter's name and SSN the last couple years so I'm waiting on a PIN for my daughter. I should have had it by now, but I haven't seen it. This probably means my daughter will need to call the IRS a dozen times before she can get through to someone to get her PIN.

I'm also considering waiting to see if the SALT deduction is increased for married couples. There's talks of making that a $20k limit and making it retroactive to 2023.

I do my own taxes (I use H&R Block software ) and have finished but am waiting to file.

May not be relevant to many of us but there is a pending possible SALT deduction cap increase to $20,000 for MFJ filers with MAGI <$500k. This is retroactive for only the 2023 tax year.

There will be a procedural vote on the 14th on whether it will be allowed to come to the floor for a vote.

SALT Cap Deduction Hike Test Vote Slated for House This Week (1)

Legislation that would double the state-and-local tax deduction cap for joint filers is expected to get a procedural House vote Feb. 14, according to Democrats.

news.bloombergtax.com

A SALT deduction increase would be HUGE for me. Please, please, please. Getting double taxed on friggin' property taxes...

The reaction from high tax states should have been to lower property taxes to something non-extortionary as SALT is good policy. (However we know states, particularly those high tax states, aren't going to voluntarily reduce spending, so we are where we are now). But it looks very likely that the Trump tax cuts will expire and SALT limit will go away permanently. So a bit of plus and minus monetarily there in the long term as tax brackets bump back up, too.

All that said I have finished my taxes for the most part and it looks like small refunds from state and feds. Might finally be a year I calculated stuff out right.

The combo of the reduced standard deduction in 2026 plus the shift in brackets from 22% to 25% and 24% to 28% will hurt. Quick math says it will cost me $7k-$9k. Good news is I turn 50 in 2026 so catch up contributions could bring the pain down ~$2k.

Looks like this didn’t make it

 

[-OZ-]

It's little things he does, like giving me the maximum deduction for charitable contributions without needed to show proof I made the donation. Plus, he handles any audits (haven't had any) or amendments to returns (I did have to do that once).

Max, like 60% of your AGI?
How does he manage that? A ton of $249 contributions?

Contributions of $250 or more to any single charity require written acknowledgment of the contribution by the charity (beneficiary) before claiming a charitable contribution.

 

[Snotbubbles]

It's little things he does, like giving me the maximum deduction for charitable contributions without needed to show proof I made the donation. Plus, he handles any audits (haven't had any) or amendments to returns (I did have to do that once).

Max, like 60% of your AGI?
How does he manage that? A ton of $249 contributions?

Contributions of $250 or more to any single charity require written acknowledgment of the contribution by the charity (beneficiary) before claiming a charitable contribution.

So my Schedule A, line 14 for this year is $9,160 (which was line 11, $8,660 and line 12, $500). Last year my Schedule A, line 14 was $3,520 (which was line 11, $3,030 and line 12, $500).

Line 12 is easy, you can claim up to $500 without needing any verification. Not sure where he got the line 11 numbers from (when I see him next year I'll ask him).

I'm not a tax guy so there may be some legitimate explanation of where these numbers are coming from.

 

[Nugget]

It's little things he does, like giving me the maximum deduction for charitable contributions without needed to show proof I made the donation. Plus, he handles any audits (haven't had any) or amendments to returns (I did have to do that once).

Max, like 60% of your AGI?
How does he manage that? A ton of $249 contributions?

Contributions of $250 or more to any single charity require written acknowledgment of the contribution by the charity (beneficiary) before claiming a charitable contribution.

So my Schedule A, line 14 for this year is $9,160 (which was line 11, $8,660 and line 12, $500). Last year my Schedule A, line 14 was $3,520 (which was line 11, $3,030 and line 12, $500).

Line 12 is easy, you can claim up to $500 without needing any verification. Not sure where he got the line 11 numbers from (when I see him next year I'll ask him).

I'm not a tax guy so there may be some legitimate explanation of where these numbers are coming from.

I think this is the main reason why I always do my own taxes. I have to know where every number is coming from.

 

[Snotbubbles]

It's little things he does, like giving me the maximum deduction for charitable contributions without needed to show proof I made the donation. Plus, he handles any audits (haven't had any) or amendments to returns (I did have to do that once).

Max, like 60% of your AGI?
How does he manage that? A ton of $249 contributions?

Contributions of $250 or more to any single charity require written acknowledgment of the contribution by the charity (beneficiary) before claiming a charitable contribution.

So my Schedule A, line 14 for this year is $9,160 (which was line 11, $8,660 and line 12, $500). Last year my Schedule A, line 14 was $3,520 (which was line 11, $3,030 and line 12, $500).

Line 12 is easy, you can claim up to $500 without needing any verification. Not sure where he got the line 11 numbers from (when I see him next year I'll ask him).

I'm not a tax guy so there may be some legitimate explanation of where these numbers are coming from.

I think this is the main reason why I always do my own taxes. I have to know where every number is coming from.

I personally don't care where he gets the numbers. Been using him for 25 years. He's the best, IMO (or at least he's better than I am at taxes and tax law).

 

[-OZ-]

It's little things he does, like giving me the maximum deduction for charitable contributions without needed to show proof I made the donation. Plus, he handles any audits (haven't had any) or amendments to returns (I did have to do that once).

Max, like 60% of your AGI?
How does he manage that? A ton of $249 contributions?

Contributions of $250 or more to any single charity require written acknowledgment of the contribution by the charity (beneficiary) before claiming a charitable contribution.

So my Schedule A, line 14 for this year is $9,160 (which was line 11, $8,660 and line 12, $500). Last year my Schedule A, line 14 was $3,520 (which was line 11, $3,030 and line 12, $500).

Line 12 is easy, you can claim up to $500 without needing any verification. Not sure where he got the line 11 numbers from (when I see him next year I'll ask him).

I'm not a tax guy so there may be some legitimate explanation of where these numbers are coming from.

I think this is the main reason why I always do my own taxes. I have to know where every number is coming from.

Same. I’m signing the thing, it’s my name. And I kinda enjoy it.

 

[Nugget]

It's little things he does, like giving me the maximum deduction for charitable contributions without needed to show proof I made the donation. Plus, he handles any audits (haven't had any) or amendments to returns (I did have to do that once).

Max, like 60% of your AGI?
How does he manage that? A ton of $249 contributions?

Contributions of $250 or more to any single charity require written acknowledgment of the contribution by the charity (beneficiary) before claiming a charitable contribution.

So my Schedule A, line 14 for this year is $9,160 (which was line 11, $8,660 and line 12, $500). Last year my Schedule A, line 14 was $3,520 (which was line 11, $3,030 and line 12, $500).

Line 12 is easy, you can claim up to $500 without needing any verification. Not sure where he got the line 11 numbers from (when I see him next year I'll ask him).

I'm not a tax guy so there may be some legitimate explanation of where these numbers are coming from.

I think this is the main reason why I always do my own taxes. I have to know where every number is coming from.

Same. I’m signing the thing, it’s my name. And I kinda enjoy it.

We both have issues.

 

[Snotbubbles]

It's little things he does, like giving me the maximum deduction for charitable contributions without needed to show proof I made the donation. Plus, he handles any audits (haven't had any) or amendments to returns (I did have to do that once).

Max, like 60% of your AGI?
How does he manage that? A ton of $249 contributions?

Contributions of $250 or more to any single charity require written acknowledgment of the contribution by the charity (beneficiary) before claiming a charitable contribution.

So my Schedule A, line 14 for this year is $9,160 (which was line 11, $8,660 and line 12, $500). Last year my Schedule A, line 14 was $3,520 (which was line 11, $3,030 and line 12, $500).

Line 12 is easy, you can claim up to $500 without needing any verification. Not sure where he got the line 11 numbers from (when I see him next year I'll ask him).

I'm not a tax guy so there may be some legitimate explanation of where these numbers are coming from.

I think this is the main reason why I always do my own taxes. I have to know where every number is coming from.

Same. I’m signing the thing, it’s my name. And I kinda enjoy it.

We both have issues.

You guys gotta live on the edge a little bit.

 

[-OZ-]

It's little things he does, like giving me the maximum deduction for charitable contributions without needed to show proof I made the donation. Plus, he handles any audits (haven't had any) or amendments to returns (I did have to do that once).

Max, like 60% of your AGI?
How does he manage that? A ton of $249 contributions?

Contributions of $250 or more to any single charity require written acknowledgment of the contribution by the charity (beneficiary) before claiming a charitable contribution.

So my Schedule A, line 14 for this year is $9,160 (which was line 11, $8,660 and line 12, $500). Last year my Schedule A, line 14 was $3,520 (which was line 11, $3,030 and line 12, $500).

Line 12 is easy, you can claim up to $500 without needing any verification. Not sure where he got the line 11 numbers from (when I see him next year I'll ask him).

I'm not a tax guy so there may be some legitimate explanation of where these numbers are coming from.

I think this is the main reason why I always do my own taxes. I have to know where every number is coming from.

Same. I’m signing the thing, it’s my name. And I kinda enjoy it.

We both have issues.

You guys gotta live on the edge a little bit.

Filing taxes isn’t living on the edge ?
I just got my Fundrise 1099. I had sold out last March and didn’t realize just how much I had in capital gains. It will be fine, but I might end up owing more than originally thought. I might have to pull your filers trick of claiming unsubstantiated deductions.

 

[dgreen]

It's little things he does, like giving me the maximum deduction for charitable contributions without needed to show proof I made the donation. Plus, he handles any audits (haven't had any) or amendments to returns (I did have to do that once).

Max, like 60% of your AGI?
How does he manage that? A ton of $249 contributions?

Contributions of $250 or more to any single charity require written acknowledgment of the contribution by the charity (beneficiary) before claiming a charitable contribution.

So my Schedule A, line 14 for this year is $9,160 (which was line 11, $8,660 and line 12, $500). Last year my Schedule A, line 14 was $3,520 (which was line 11, $3,030 and line 12, $500).

Line 12 is easy, you can claim up to $500 without needing any verification. Not sure where he got the line 11 numbers from (when I see him next year I'll ask him).

I'm not a tax guy so there may be some legitimate explanation of where these numbers are coming from.

Yeah, you need a separate form if line 12 is over $500, but it is still supposed to be based on actual non-cash donations (donating items to Goodwill, Salvation Army, etc). Everyone who itemizes isn't supposed to just put $500 there. Hopefully what's going on is that you're confident you are donating more than $500 worth of non-cash donations but you don't want to track that stuff so you just take the $500.

As for line 11, I assume your accountant has access to documentation related to your cash donations to charitable organizations.

 

[Bri]

Someone has been filing with my daughter's name and SSN the last couple years so I'm waiting on a PIN for my daughter. I should have had it by now, but I haven't seen it. This probably means my daughter will need to call the IRS a dozen times before she can get through to someone to get her PIN.

I'm also considering waiting to see if the SALT deduction is increased for married couples. There's talks of making that a $20k limit and making it retroactive to 2023.

She creates an account at IRS.gov
They send her to id.me to show license and do a three second verification she's the person in the license
Go back to IRS.gov and under profile she gets the pin number

Idk how old she is or how ya work it out with a minor that like 8 years old or somesuch but..ya don't wait for a letter from the IRS.

If salt changes they will send $ retroactively. It was on their website article section recently.

 

[Snotbubbles]

It's little things he does, like giving me the maximum deduction for charitable contributions without needed to show proof I made the donation. Plus, he handles any audits (haven't had any) or amendments to returns (I did have to do that once).

Max, like 60% of your AGI?
How does he manage that? A ton of $249 contributions?

Contributions of $250 or more to any single charity require written acknowledgment of the contribution by the charity (beneficiary) before claiming a charitable contribution.

So my Schedule A, line 14 for this year is $9,160 (which was line 11, $8,660 and line 12, $500). Last year my Schedule A, line 14 was $3,520 (which was line 11, $3,030 and line 12, $500).

Line 12 is easy, you can claim up to $500 without needing any verification. Not sure where he got the line 11 numbers from (when I see him next year I'll ask him).

I'm not a tax guy so there may be some legitimate explanation of where these numbers are coming from.

Yeah, you need a separate form if line 12 is over $500, but it is still supposed to be based on actual non-cash donations (donating items to Goodwill, Salvation Army, etc). Everyone who itemizes isn't supposed to just put $500 there. Hopefully what's going on is that you're confident you are donating more than $500 worth of non-cash donations but you don't want to track that stuff so you just take the $500.

As for line 11, I assume your accountant has access to documentation related to your cash donations to charitable organizations.

Man, you guys act like this money belongs to the IRS.

 

[-OZ-]

It's little things he does, like giving me the maximum deduction for charitable contributions without needed to show proof I made the donation. Plus, he handles any audits (haven't had any) or amendments to returns (I did have to do that once).

Max, like 60% of your AGI?
How does he manage that? A ton of $249 contributions?

Contributions of $250 or more to any single charity require written acknowledgment of the contribution by the charity (beneficiary) before claiming a charitable contribution.

So my Schedule A, line 14 for this year is $9,160 (which was line 11, $8,660 and line 12, $500). Last year my Schedule A, line 14 was $3,520 (which was line 11, $3,030 and line 12, $500).

Line 12 is easy, you can claim up to $500 without needing any verification. Not sure where he got the line 11 numbers from (when I see him next year I'll ask him).

I'm not a tax guy so there may be some legitimate explanation of where these numbers are coming from.

Yeah, you need a separate form if line 12 is over $500, but it is still supposed to be based on actual non-cash donations (donating items to Goodwill, Salvation Army, etc). Everyone who itemizes isn't supposed to just put $500 there. Hopefully what's going on is that you're confident you are donating more than $500 worth of non-cash donations but you don't want to track that stuff so you just take the $500.

As for line 11, I assume your accountant has access to documentation related to your cash donations to charitable organizations.

Man, you guys act like this money belongs to the IRS.

I’m a federal ethics attorney. Lying on my taxes seems less than brilliant.

 

[dgreen]

Someone has been filing with my daughter's name and SSN the last couple years so I'm waiting on a PIN for my daughter. I should have had it by now, but I haven't seen it. This probably means my daughter will need to call the IRS a dozen times before she can get through to someone to get her PIN.

I'm also considering waiting to see if the SALT deduction is increased for married couples. There's talks of making that a $20k limit and making it retroactive to 2023.

She creates an account at IRS.gov
They send her to id.me to show license and do a three second verification she's the person in the license
Go back to IRS.gov and under profile she gets the pin number

Idk how old she is or how ya work it out with a minor that like 8 years old or somesuch but..ya don't wait for a letter from the IRS.

If salt changes they will send $ retroactively. It was on their website article section recently.

Thanks. I'll have her do that. She's 20, so she has to take care it and I can't do it for her.

Sounds like the House killed the SALT bill.

 

[dgreen]

It's little things he does, like giving me the maximum deduction for charitable contributions without needed to show proof I made the donation. Plus, he handles any audits (haven't had any) or amendments to returns (I did have to do that once).

Max, like 60% of your AGI?
How does he manage that? A ton of $249 contributions?

Contributions of $250 or more to any single charity require written acknowledgment of the contribution by the charity (beneficiary) before claiming a charitable contribution.

So my Schedule A, line 14 for this year is $9,160 (which was line 11, $8,660 and line 12, $500). Last year my Schedule A, line 14 was $3,520 (which was line 11, $3,030 and line 12, $500).

Line 12 is easy, you can claim up to $500 without needing any verification. Not sure where he got the line 11 numbers from (when I see him next year I'll ask him).

I'm not a tax guy so there may be some legitimate explanation of where these numbers are coming from.

Yeah, you need a separate form if line 12 is over $500, but it is still supposed to be based on actual non-cash donations (donating items to Goodwill, Salvation Army, etc). Everyone who itemizes isn't supposed to just put $500 there. Hopefully what's going on is that you're confident you are donating more than $500 worth of non-cash donations but you don't want to track that stuff so you just take the $500.

As for line 11, I assume your accountant has access to documentation related to your cash donations to charitable organizations.

Man, you guys act like this money belongs to the IRS.

I’m a federal ethics attorney. Lying on my taxes seems less than brilliant.

Yeah, and it's not like the reward is significant. If you're in the top tax bracket, we're talking $185 more in a tax return. But, I'm honestly not accusing him of lying (aka fraud). If you drop stuff off at Goodwill or a church or whatever during the year, you can deduct that. And, to me, it's a pain to track what items I donate and how much they are worth so I never keep good records of that and never claim more than $500. I wouldn't feel comfortable putting $500 unless I absolutely know I was well over that amount.

But, I'd be uncomfortable with an accountant who just did that for me. They should at least be asking you if you donate goods during the year.

 

[shuke]

My wife's grandfather worked at Alcoa and gave her some stock like 30 years ago. In the past 10 years, the company split off multiple times into three entities, Alcoa, Howmet Aerospace, and Arconic.

Arconic was purchased last year and all shareholders were paid out. I just looked at the 1099-B, and there is no cost basis for anything pre-2014 or so.

Please advice.

 

[Snotbubbles]

It's little things he does, like giving me the maximum deduction for charitable contributions without needed to show proof I made the donation. Plus, he handles any audits (haven't had any) or amendments to returns (I did have to do that once).

Max, like 60% of your AGI?
How does he manage that? A ton of $249 contributions?

Contributions of $250 or more to any single charity require written acknowledgment of the contribution by the charity (beneficiary) before claiming a charitable contribution.

So my Schedule A, line 14 for this year is $9,160 (which was line 11, $8,660 and line 12, $500). Last year my Schedule A, line 14 was $3,520 (which was line 11, $3,030 and line 12, $500).

Line 12 is easy, you can claim up to $500 without needing any verification. Not sure where he got the line 11 numbers from (when I see him next year I'll ask him).

I'm not a tax guy so there may be some legitimate explanation of where these numbers are coming from.

Yeah, you need a separate form if line 12 is over $500, but it is still supposed to be based on actual non-cash donations (donating items to Goodwill, Salvation Army, etc). Everyone who itemizes isn't supposed to just put $500 there. Hopefully what's going on is that you're confident you are donating more than $500 worth of non-cash donations but you don't want to track that stuff so you just take the $500.

As for line 11, I assume your accountant has access to documentation related to your cash donations to charitable organizations.

Man, you guys act like this money belongs to the IRS.

I’m a federal ethics attorney. Lying on my taxes seems less than brilliant.

Yeah, and it's not like the reward is significant. If you're in the top tax bracket, we're talking $185 more in a tax return. But, I'm honestly not accusing him of lying (aka fraud). If you drop stuff off at Goodwill or a church or whatever during the year, you can deduct that. And, to me, it's a pain to track what items I donate and how much they are worth so I never keep good records of that and never claim more than $500. I wouldn't feel comfortable putting $500 unless I absolutely know I was well over that amount.

But, I'd be uncomfortable with an accountant who just did that for me. They should at least be asking you if you donate goods during the year.

Taxation is extortion. Then they get your money and send it to other countries. F them.

 

[-OZ-]

Taxation is extortion. Then they get your money and send it to other countries. F them.

I’m just going to back away before this goes off the rails.
Let’s just say I totally disagree although there are changes I’d make in how the federal government spends money.

 

[Snotbubbles]

Taxation is extortion. Then they get your money and send it to other countries. F them.

I’m just going to back away before this goes off the rails.
Let’s just say I totally disagree although there are changes I’d make in how the federal government spends money.

I'd rather ask for forgiveness, than permission.

 

[-OZ-]

I’m going to wait to file as there could be changes to our 1099s but just finished the first draft with everything. With some carry over losses from 2022, we owe $200 to the feds, getting $250 back from the state.
I couldn’t get this closer to ideal if I tried.

 

[NutterButter]

Always file on the last day. I like to hang onto the government's money as long as I can.

 

[Dan Lambskin]

Owe $200 to the feds and getting like $450 back from the state. Basically a wash after tax prep fee which I guess means it worked out

 

[FarFromHome]

Owe $200 to the feds and getting like $450 back from the state. Basically a wash after tax prep fee which I guess means it worked out

My goal is to always break even. We claim 0 all year long to meet they even goal. Ha ha

 

[coopersdad]

Filed my moms for the last time on Monday. Pretty simple. Was able to take advantage that she was diagnosed w/ MSRA after breaking her hip due to her dimentia (late stage Parkinsons). So since she required constant 24 hour care the last 3 months of her care at her assisted living facility were considered required medical expenses. Learn something new all the time.

Filed mine today ($106 refund on non-Chet income, so I estimated pretty well in additional tax deduction on my pay.....................would have been larger refund, but company bonus wasn't as large as normal, and our bonus' are usually taxed pretty aggressively.)

Working on my son and daughter in laws, but she's a 1099 employee, so it will take a bit longer. 1st time I've ever had to do one of these.

Are estimated home office expenses ok if the are conservative, or do I need to actually have them provide me w/ all the receipts for electricity, gas, water, sewar, etc?

 

[gianmarco]

Refund of $8. Nailed it this year.

 

[guru_007]

Always file on the last day. I like to hang onto the government's money as long as I can.

Yep.
Owe the government quite a bit of money. Getting penalized for underpayment, again. But, with the interest I earned on the money I owe, I came out ahead.

 

[General Malaise]

Wife's failure to check her paystubs and observe ZERO being withheld to pay the Feds was a fun little oversight for us.

Fortunately, the Oregon kicker check and refund was more than 2x what I owe the Feds. Accountant e-Filed on Thurs, 2/22 the money from Oregon hit out account by Tues 2/26. Wowsers.

And the accountant gave me ANOTHER W4 to give to my wife to turn in to her employer AGAIN. I'll ask to see her next pay stub just to make sure the love of my life who is so good at so many things and is super smart because she tells me quite often actually changed her withholdings. This time.

 

[urbanhack]

Question about W4, withholding and allowances, etc.

My lady got a new job with the fed (VA). At her previous job she was right at the top of the tax bracket. She got about a 20% raise which bumped her to the beginning of a new tax bracket. I guess fed employees also have an extra tax they have to pay which is roughly 6%. With the change in tax brackets and her new withholdings her new net paycheck is the same as her old one even though she got a 20 to 25% raise. Needless to say that hasn't gone over well.

Can you claim additional allowances and get more money back in your check knowing you'll pay next tax season? I looked at her w4 and the only extra allowances you do with the worksheet is by claiming a second job. :shuked:

Anyone know if you can still adjust a W4 to have less taxes taken out?

 

[Courtjester]

We owed $650 to the Feds and got $2400 back from State (thanks to a $1,600 state mandated Tabor refund). I can't wait to file next year because I turn 55 and being retired, I get a $25,000 tax exemption from PERA for the next 8 years.

I did my 19 year old daughter's return. She is a server at Applebees and made well-over 45k part-time. She is really good at what she does!! Her credit card tips are reported on her W-2, but then you have that whole what to do with those pesky cash tips. I just kept playing around with the additional income section declaring different amounts until she is getting a $5 refund from the Feds and a $1,300 refund from the State. I didn't want to push it too far and did have her declare a good amount, but she didn't write down every night what was made cash wise.

 

[Mrs. Rannous]

Are estimated home office expenses ok if the are conservative, or do I need to actually have them provide me w/ all the receipts for electricity, gas, water, sewar, etc?

I don't think you need receipts, but why guess? Browse the exciting IRS website.

I need a hobby.

 

[-OZ-]

I’m going to wait to file as there could be changes to our 1099s but just finished the first draft with everything. With some carry over losses from 2022, we owe $200 to the feds, getting $250 back from the state.
I couldn’t get this closer to ideal if I tried.

Update - I forgot about I bonds. (Remembered before filing)
Now we owe over$1,000 to the feds.

 

[NutterButter]

Always file on the last day. I like to hang onto the government's money as long as I can.

Yep.
Owe the government quite a bit of money. Getting penalized for underpayment, again. But, with the interest I earned on the money I owe, I came out ahead.

Same. I'm not getting rich off of it, but as long as I'm coming out ahead, I might as well keep doing it. Even just putting the $6k I typically owe into an mma more than covers the ~$100 they charge in late fees.

 

[Uruk-Hai]

I would love to break even, but I can't get there - so I'm always getting money back. I think it was $2k from Uncle Sam and $250.00 from the state.

 

[General Malaise]

I would love to break even, but I can't get there - so I'm always getting money back. I think it was $2k from Uncle Sam and $250.00 from the state.

Great yo-self!!! Crabs and a bucket of beer?

 

[Uruk-Hai]

I would love to break even, but I can't get there - so I'm always getting money back. I think it was $2k from Uncle Sam and $250.00 from the state.

Great yo-self!!! Crabs and a bucket of beer?

I'll have to turn in my Maryland card, but I haven't been back home to eat steamed crabs in a couple of years There are a couple of places within an hour or so of me I can get them, but I just never seem to be able to fit the time in.

I can make up for it with buckets of beer, though!

 

[fruity pebbles]

Went and hugged my little EV. Plugged in the credit and went from owing $2500 to getting $4500 back.

 

[titusbramble]

Living in a country where in the 25 years I've been paying tax I've needed to do something precisely once (when someone cocked up a tax code while I was moving between jobs quite frequently), it will always amaze me how the apparent pinnacle of the free world seemingly can't automate all the stuff you are talking about

 

[Osaurus]

Feds cashed my check. Cya next year

 

[Schmeabs]

Getting back $11k from Fed and somehow $12k from Oregon. The Oregon refund was a nice surprise.

 

[Cowboysfan8]

It's little things he does, like giving me the maximum deduction for charitable contributions without needed to show proof I made the donation. Plus, he handles any audits (haven't had any) or amendments to returns (I did have to do that once).

Max, like 60% of your AGI?
How does he manage that? A ton of $249 contributions?

Contributions of $250 or more to any single charity require written acknowledgment of the contribution by the charity (beneficiary) before claiming a charitable contribution.

So my Schedule A, line 14 for this year is $9,160 (which was line 11, $8,660 and line 12, $500). Last year my Schedule A, line 14 was $3,520 (which was line 11, $3,030 and line 12, $500).

Line 12 is easy, you can claim up to $500 without needing any verification. Not sure where he got the line 11 numbers from (when I see him next year I'll ask him).

I'm not a tax guy so there may be some legitimate explanation of where these numbers are coming from.

Yeah, you need a separate form if line 12 is over $500, but it is still supposed to be based on actual non-cash donations (donating items to Goodwill, Salvation Army, etc). Everyone who itemizes isn't supposed to just put $500 there. Hopefully what's going on is that you're confident you are donating more than $500 worth of non-cash donations but you don't want to track that stuff so you just take the $500.

As for line 11, I assume your accountant has access to documentation related to your cash donations to charitable organizations.

Man, you guys act like this money belongs to the IRS.

I’m a federal ethics attorney. Lying on my taxes seems less than brilliant.

Yeah, and it's not like the reward is significant. If you're in the top tax bracket, we're talking $185 more in a tax return. But, I'm honestly not accusing him of lying (aka fraud). If you drop stuff off at Goodwill or a church or whatever during the year, you can deduct that. And, to me, it's a pain to track what items I donate and how much they are worth so I never keep good records of that and never claim more than $500. I wouldn't feel comfortable putting $500 unless I absolutely know I was well over that amount.

But, I'd be uncomfortable with an accountant who just did that for me. They should at least be asking you if you donate goods during the year.

Taxation is extortion. Then they get your money and send it to other countries. F them.

preach

 

[need2know]

Getting alot back this year. Very odd

 

[need2know]

We owed $650 to the Feds and got $2400 back from State (thanks to a $1,600 state mandated Tabor refund). I can't wait to file next year because I turn 55 and being retired, I get a $25,000 tax exemption from PERA for the next 8 years.

I did my 19 year old daughter's return. She is a server at Applebees and made well-over 45k part-time. She is really good at what she does!! Her credit card tips are reported on her W-2, but then you have that whole what to do with those pesky cash tips. I just kept playing around with the additional income section declaring different amounts until she is getting a $5 refund from the Feds and a $1,300 refund from the State. I didn't want to push it too far and did have her declare a good amount, but she didn't write down every night what was made cash wise.

45k is pretty good for part time anything. Good for her.

 

[coopersdad]

We owed $650 to the Feds and got $2400 back from State (thanks to a $1,600 state mandated Tabor refund). I can't wait to file next year because I turn 55 and being retired, I get a $25,000 tax exemption from PERA for the next 8 years.

I did my 19 year old daughter's return. She is a server at Applebees and made well-over 45k part-time. She is really good at what she does!! Her credit card tips are reported on her W-2, but then you have that whole what to do with those pesky cash tips. I just kept playing around with the additional income section declaring different amounts until she is getting a $5 refund from the Feds and a $1,300 refund from the State. I didn't want to push it too far and did have her declare a good amount, but she didn't write down every night what was made cash wise.

45k is pretty good for part time anything. Good for her.

Son (played baseball in college) has a BS in "general studies" and a masters in sports administration...................made 48K last year working for the Boys/Girls Club.

He loves what he does, so god bless him, but I might tell him about APPLEBEES.

 

[urbanhack]

Living in a country where in the 25 years I've been paying tax I've needed to do something precisely once (when someone cocked up a tax code while I was moving between jobs quite frequently), it will always amaze me how the apparent pinnacle of the free world seemingly can't automate all the stuff you are talking about

Inside TurboTax’s 20-Year Fight to Stop Americans From Filing Their Taxes for Free

Using lobbying, the revolving door and “dark pattern” customer tricks, Intuit fended off the government’s attempts to make tax filing free and easy, and created its multi-billion-dollar franchise.

www.propublica.org

 

[Dezbelief]

My yearly love letter to the irs is in the mail with a paper check.