Author Topic: Taxes  (Read 23420 times)

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Online Phil Titola

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Re: Taxes
« Reply #425 on: February 16, 2021, 11:46:12 AM »
Unemployment doesn't withold but it still counts as income, that's probably most of the discrepancy.

I can't believe they didn't exclude at least the government addition from taxable income. Lot of people going to get hammered.

Online steve dave

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Re: Taxes
« Reply #426 on: February 16, 2021, 12:04:29 PM »
We owe a crap ton this year.  :lol: I swear to god I have zero clue how any of this crap works.  :lol:

Got killed this year too for some reason. No idea how my withholding got messed up. Noticed it a bit last year and tried to adjust. Apparently, i did it poorly. Got a penalty even.  :curse:
Sorry to hear. Figured most of mine out. After having my kid in September of 2019, I forgot to claim update my W4 for 9 months and claim him. There's the hole on my end. That and the furlough garbage.
You still get to claim the kid.


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Offline Stupid Fitz

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Re: Taxes
« Reply #427 on: February 16, 2021, 12:05:32 PM »
We owe a crap ton this year.  :lol: I swear to god I have zero clue how any of this crap works.  :lol:

Got killed this year too for some reason. No idea how my withholding got messed up. Noticed it a bit last year and tried to adjust. Apparently, i did it poorly. Got a penalty even.  :curse:
Sorry to hear. Figured most of mine out. After having my kid in September of 2019, I forgot to claim update my W4 for 9 months and claim him. There's the hole on my end. That and the furlough garbage.
You still get to claim the kid.


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Maybe he found out it wasn't his kid.  :Wha:

Offline 420seriouscat69

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Re: Taxes
« Reply #428 on: February 16, 2021, 12:08:06 PM »
SOB! :curse:

Offline 420seriouscat69

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Re: Taxes
« Reply #429 on: February 16, 2021, 12:09:51 PM »
@Katkid My poker $ is tied up for about a month or two right now. :lol:
« Last Edit: February 16, 2021, 12:16:24 PM by 420seriouscat69 »

Online Rage Against the McKee

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Re: Taxes
« Reply #430 on: February 16, 2021, 01:08:44 PM »
A couple of weeks ago, someone in Congress introduced a bill to eliminate taxes on the first $10,200 of unemployment benefits for 2020. I would wait to see if that passes before filing if you claimed unemployment.

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Re: Taxes
« Reply #431 on: March 08, 2021, 02:17:13 PM »
You all have anything withheld?
I need to ask what we do. Mrs Wacky runs the finances and I claim whatever she tells me to claim. We did make a large amount more than last year, plus the 8 week furlough probably messed crap up. Apparently you're supposed to withhold from your unemployment checks too? Aren't those already taxed and like, your own funds from before?

You should amend your return, 420seriouscat69.

https://www.cnet.com/personal-finance/stimulus-bill-unemployment-benefits-you-could-get-a-tax-break-on-your-weekly-checks/

The first $10,200 of 2020 unemployment is now tax-free.

Offline 420seriouscat69

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Re: Taxes
« Reply #432 on: March 08, 2021, 02:35:58 PM »
Thanks, Rage! Nice eye. This should help us.

Offline 420seriouscat69

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Re: Taxes
« Reply #433 on: March 08, 2021, 02:37:50 PM »
Also, good memory too!

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Re: Taxes
« Reply #434 on: March 08, 2021, 02:41:22 PM »
Technically, it still has to go back through the house and Biden has to sign it, but that's just a formality. It probably will take about a week.

Offline Kat Kid

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Re: Taxes
« Reply #435 on: March 08, 2021, 06:24:01 PM »
still getting a big return.  probably need to adjust withholding again.
@bentren

Offline michigancat

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Re: Taxes
« Reply #436 on: March 08, 2021, 09:55:48 PM »
still getting a big return.  probably need to adjust withholding again.
I got a decent return and thought about adjusting but meh. Would I really put that extra money to work in a meaningful way? Probably not.

Offline 420seriouscat69

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Re: Taxes
« Reply #437 on: March 09, 2021, 08:18:58 PM »
You all have anything withheld?
I need to ask what we do. Mrs Wacky runs the finances and I claim whatever she tells me to claim. We did make a large amount more than last year, plus the 8 week furlough probably messed crap up. Apparently you're supposed to withhold from your unemployment checks too? Aren't those already taxed and like, your own funds from before?

You should amend your return, 420seriouscat69.

https://www.cnet.com/personal-finance/stimulus-bill-unemployment-benefits-you-could-get-a-tax-break-on-your-weekly-checks/

The first $10,200 of 2020 unemployment is now tax-free.
You saved us thousands, Rage. Thanks for the update. We owe you. Our ppl are on it right now. Ty! Another gE victory!

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Re: Taxes
« Reply #438 on: March 09, 2021, 10:05:06 PM »
Glad to hear it. :cheers:

Offline Stupid Fitz

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Re: Taxes
« Reply #439 on: March 25, 2021, 10:30:04 AM »
Just found out KS Gov signed an executive order stating that if you work in MO but are working from home in KS, they want your fracking money. It basically says my company should start withholding for KS instead of MO now. This all seems like a huge PIA for me and I'm prob just going to deal with it at tax time next year instead of trying to make the changes now. Everyone else I know is doing the same.

Offline catastrophe

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Re: Taxes
« Reply #440 on: March 25, 2021, 10:33:14 AM »
Seems like closing a loophole more than anything. At my work we actually have to enter where we physically were when we did stuff (all on the computer) for this reason.

Offline IPA4Me

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Re: Taxes
« Reply #441 on: March 25, 2021, 10:46:05 AM »
It's nothing new for remote employees. I have the option to claim a refund for taxes based on our building location (county and municipal taxes) vs where I work. It's just easier to let the physical location taxes roll.

Offline Stupid Fitz

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Re: Taxes
« Reply #442 on: March 25, 2021, 11:10:02 AM »
It's nothing new for remote employees. I have the option to claim a refund for taxes based on our building location (county and municipal taxes) vs where I work. It's just easier to let the physical location taxes roll.

This is going to be my approach. it seems like a pain to manually input the time rather than just deal with it at the end of the year.

Offline WillieWatanabe

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Re: Taxes
« Reply #443 on: March 25, 2021, 08:16:29 PM »
difference of +$5100 this year for federal compared to last. weeeeeeeee
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