PebHmong Discussion Forum
General Category => General Discussion => Topic started by: hmgROCK on February 02, 2017, 07:22:20 PM
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I don't claim to be an expert, but I know a few stuff
Below is a picture of a family relatives tax, that i help earlier today
we try to get the MAX refund
gotta reach into uncle sam pocket and get every penny
you know what i mean
you can file at turbo tax for free
https://turbotax.intuit.com/ (https://turbotax.intuit.com/)
don't sign up for their $29.99 offer and it will be free
(http://i.imgur.com/ADxkA96.jpg)
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i'm happy to help if anyone has question
or wanna try doing their tax for the first time
(my background is accounting)
avoid paying $50-150 dollars at H&R BLOCK (etc...) fee
or whatever
we go can go deep into detail and deductibles
so you too
can be smart like donald trump and pay zero taxes
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lol the trick to getting big refund like these
is tooo
have
kids/dependent
the family relatives was surprise
they say when they do their tax somewhere
people don't ask these kinda of question
even offer me $200 when they get their refund
i just say "no thanks, it's all yours, just helping family member"
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turborax is a ripoff. they don't charge u only if its ez filing, no mortgage, no investments. if you have any of those, it will force u to upgrade otherwise it will not do the deduction schedule. and if u upgrade it will charge u for direct deposit. ripoff.
use creditkarma instead, its free, no hidden cost, no charge for efile, no charge for direct deposit. use turbotax to compare your return, then file with creditkarma.
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turborax is a ripoff. they don't charge u only if its ez filing, no mortgage, no investments. if you have any of those, it will force u to upgrade otherwise it will not do the deduction schedule. and if u upgrade it will charge u for direct deposit. ripoff.
use creditkarma instead, its free, no hidden cost, no charge for efile, no charge for direct deposit. use turbotax to compare your return, then file with creditkarma.
i used a little bit of everything depending on who i am helping with
if we just doing basic easy stuff, with light deductibles
defint turbotax
taxact, turbo, h&r, all goods
get around the same number
just make sure you reach deep down into uncle sam pocket and grab every penny you can
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a big tax that alot of you guys are probably not doing is
RENT
(if you rent and pay monthly fee to the landlord)
you gets some of $$$ back O0
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Ca state refund never reach that much but the Federal, you get it up to 10k... Wi state must be paying very high state taxes...
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Ca state refund never reach that much but the Federal, you get it up to 10k... Wi state must be paying very high state taxes...
good question
i think in cali, you guys get more money for having kids/dependent along with the federals standard
probably due to cost of living differences
anyways, the reason why the WI refund was soooo high on this dude tax (our state tax is not that high, some don't even have state tax)
is because he is an iraqi disable veteran reconginze by wisconsin dept of veteran affair as disables
so those he pay no property tax here in wisconsin (vary by state)
http://dva.state.wi.us/Pages/benefitsClaims/Financial-Tax-Benefits.aspx (http://dva.state.wi.us/Pages/benefitsClaims/Financial-Tax-Benefits.aspx)
dude earn it, he is a special hmong modern warfare relatives of ours
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turborax is a ripoff. they don't charge u only if its ez filing, no mortgage, no investments. if you have any of those, it will force u to upgrade otherwise it will not do the deduction schedule. and if u upgrade it will charge u for direct deposit. ripoff.
use creditkarma instead, its free, no hidden cost, no charge for efile, no charge for direct deposit. use turbotax to compare your return, then file with creditkarma.
Thanks man!
I have been using turbotax for years and I didn't know I could file through credit karma. Always used it to do a "soft" check.
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I don't claim to be an expert, but I know a few stuff
Below is a picture of a family relatives tax, that i help earlier today
we try to get the MAX refund
gotta reach into uncle sam pocket and get every penny
you know what i mean
you can file at turbo tax for free
https://turbotax.intuit.com/ (https://turbotax.intuit.com/)
don't sign up for their $29.99 offer and it will be free
(http://i.imgur.com/ADxkA96.jpg)
Hlymoly!!!!! That's some chump change right there. It would ONLY be in my dream that Uncle Sam would return that much of my tax $$$$ back to me.😬😬😬!
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Hlymoly!!!!! That's some chump change right there. It would ONLY be in my dream that Uncle Sam would return that much of my tax $$$$ back to me.😬😬😬!
beside making too much money
alot of yall are losing
because you are not married and have kids/dependent
our tax system is base on that
thats why gay people trying to fight for their right to be recongize as a couples
cause you get more $$$ in tax benefit
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unless you're willing to help chip in and pay my taxes...
no, I'm good.
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Can you do mine for me. Too lazy to do it myself. As for those "free" e-filings, as I recalled only federal is free and state you gotta pay, right? Softwares are easy to use but they're not free either, still filing the old fashion ways with the mail.
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Can you do mine for me. Too lazy to do it myself. As for those "free" e-filings, as I recalled only federal is free and state you gotta pay, right? Softwares are easy to use but they're not free either, still filing the old fashion ways with the mail.
both federal and state is free
and some light deductibles like school, rent, property tax, etc..
e-filing and everything
if you just doing basic stuff like your w2
you will be fine
if you use turbotax
make sure you don't click the add on/upgrade (it cost money)
use the basic and you should be good
if you have basic question, you can ask me
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pretty basic stuff:
you look at the boxes on your W2 and match it to the boxes on turbotax
so
you match the number/letter on box 1 on your w2 to the box 1 on turbotax
box 2 to box 2
box 3 to box 3
etc... etc..
some boxes will be empty b/c thats like your workplace benefit and etc... for example box 12 and 13
if your workplace don't offer benefit or you didn't take it, it will be empty
in this case, you just leave it blank
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if you pay rent/mortgage
you might be able to get some back
talk to your landlord
ask him to give you some tax paper
file that joint and get some $$$ back
O0
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I don't claim to be an expert, but I know a few stuff
Below is a picture of a family relatives tax, that i help earlier today
we try to get the MAX refund
gotta reach into uncle sam pocket and get every penny
you know what i mean
you can file at turbo tax for free
https://turbotax.intuit.com/ (https://turbotax.intuit.com/)
don't sign up for their $29.99 offer and it will be free
(http://i.imgur.com/ADxkA96.jpg)
this year i only owe 3k so i'm pretty happy with that O0
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both federal and state is free
and some light deductibles like school, rent, property tax, etc..
e-filing and everything
if you just doing basic stuff like your w2
you will be fine
if you use turbotax
make sure you don't click the add on/upgrade (it cost money)
use the basic and you should be good
if you have basic question, you can ask me
Don't Turbo Tax charge a fee for E file or is it when you do direct deposit? I thought the State is free but the Federal is a fee? Can someone verify this?
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Don't Turbo Tax charge a fee for E file or is it when you do direct deposit? I thought the State is free but the Federal is a fee? Can someone verify this?
no they both free
state and federal
just don't click the add on/offer feature
including e file and direct deposit
alot of site now include both free
so you shoulda even be paying for any
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throughout the site/process turbotax is going offer you upgrade/add on feature
just make sure you click the free one
you should be able to do all your basic stuff like w2, rent, mortagage, healthcare,
(http://i.imgur.com/MJ3BLPu.jpg)
if you have rental property or investment
go to creditkarma
if you are this rich, might as well pay
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UPDATE: I like to update and inform some of you people who haven't done their tax yet. With the trump presidential, you will not be hit with the penalty for not having healthcare insurance. The IRS will skip that part. But you will still need to do your form 8962 if you get it through the market. I repeat, you will still need to input the information. even though the IRS won't be checking it, they claim
just and FYI, so you don't get a letter from the IRS and delay
http://www.cnbc.com/2017/02/15/irs-wont-reject-tax-returns-if-they-do-not-include-obamacare-disclosures.html (http://www.cnbc.com/2017/02/15/irs-wont-reject-tax-returns-if-they-do-not-include-obamacare-disclosures.html)
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bro, one thing you should also mention is that...
IRS Form 1040EZ is the simplest of the three tax forms you can use to file your federal income taxes. If your taxable income is less than $100,000, you don't claim any dependents and you file as single or are married filing jointly, then you may be eligible to file Form 1040EZ.
which is free... all others who don't fall into this category will have to pay to file their taxes...
Again
We are trying to maxium our refund
Reach into uncle sam pocket and grab every dimes and nickle
Thats why we dont do the EZ form
Again
At turbo tax, you can do all this deductible, rent, healthcare, work expense, etc....
Free
See my first post, page one
Thats what we aiming for
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I buy my software each year just for federal. I filed the state separately free on their website. I just got done gathering all my documents today. Just double checking my numbers tonight and then filed by the end of the week or next week. I'm not in a rush as I keep my refund check until I really need it for something. If it is close to expired then I asked for a replacement check.
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Started mine today using TT also... I've used it for the last 12 years.
This year, I had to paper file my state tax because of changes. But it's cool... I don't need the refund for now.
Beside, I only got about a grand or so back.
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beside making too much money
alot of yall are losing
because you are not married and have kids/dependent
our tax system is base on that
thats why gay people trying to fight for their right to be recongize as a couples
cause you get more $$$ in tax benefit
You sound like my mom telling my sisters to have more babies to claim income tax. Um No. Not worth the headache and you pay more for kids in the long run than what you get back with taxes.
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You sound like my mom telling my sisters to have more babies to claim income tax. Um No. Not worth the headache and you pay more for kids in the long run than what you get back with taxes.
because that how our tax system works
a long time ago
if you were gay
you are consider single and have to file as single
no marriage, no tax benefit.
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I almost move to Wisconsin because of the high amount from the state tax offer... ;D
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I almost move to Wisconsin because of the high amount from the state tax offer... ;D
some state like texas have no state income tax
no tax=no money
no money=no public program
when there a flood, fire, etc...
the first thing texas do is ask the federal for money
lol,
biggest pan handler state
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Two years ago, you posted the same thing you did this year, hmgRock.
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Two years ago, you posted the same thing you did this year, hmgRock.
why yall got to go deleting my thread
yet....people posting fake food pic....is ok :2funny:
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Can you do mine for me. Too lazy to do it myself. As for those "free" e-filings, as I recalled only federal is free and state you gotta pay, right? Softwares are easy to use but they're not free either, still filing the old fashion ways with the mail.
you can file state free too
again, turbotax and other site will try to clickbait you to upgrade
just click on the free version
(http://i.imgur.com/MJ3BLPu.jpg)
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this year i only owe 3k so i'm pretty happy with that O0
you probably set your allowance too high
when start your work, your human resource give you a piece of paper to fill out
if you claim too much allowance/dependent
you are not setting up enough money aside for tax
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I buy my software each year just for federal. I filed the state separately free on their website. I just got done gathering all my documents today. Just double checking my numbers tonight and then filed by the end of the week or next week. I'm not in a rush as I keep my refund check until I really need it for something. If it is close to expired then I asked for a replacement check.
if you make less than $66k
you can file alot of tax for free included FEDERAL AND STATE
those software at walmart, are just grimmick
you can just file start at the site, no need to install junk on your computer
if you are a low income, you want to get your refund ASAP
put it in your bank, so it can start collecting interest
also, DIRECT DEPOSIT
because its much safer and faster
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You sound like my mom telling my sisters to have more babies to claim income tax. Um No. Not worth the headache and you pay more for kids in the long run than what you get back with taxes.
that just how our tax system is written
the more kids you have
the bigger your refund are
if you are a low income
I RECOMMEND 3 kids
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for the hmong homies that bough cryptocurrency (bitcoin, ripple, tether, etc...)
haven't been clear rules regarding tax
but they are treating this as an investment
this mean investment rules apply
AKA if you sell it at gain/loss, you need to report it
UNCLE SAM will find out and sent you a bill
O0 O0
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This post of yours has been hanging around since 2017.
why yall got to go deleting my thread
yet....people posting fake food pic....is ok :2funny:
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This post of yours has been hanging around since 2017.
it's good stuff, man
if you going delete my thread
delete the dude THEKING fake food pic
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Just this past weekend, my dumb azz just won 3 jackpots in one night. Now lets see, a 3g, a 8g and a 1.3g
The trick with jackpot winning at casino is to let the house holds your 24% of your winnings. In this way, irs is not going after me. I have receipt transaction from the casino that they withheld my 24%, which is the highest withholding for casino jackpot in the state of california. I mean I can declare a 1% hold but that would still means that I would have to pay back them taxes. Uncle sam don't play around. He audit you if you have an income at a certain level. If you are low income, he's not going after you. I know a poor broke dude who won jackpots too but he never have to pay back any.
First of all, if you poor, you shouldn't be gambling in the first place. Fix that beat down car of yours first before you go gambling. Feed your kids first before gambling. It makes my heart hurts just to see the poor driving a beat up car and still trying to gamble.
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Just this past weekend, my dumb azz just won 3 jackpots in one night. Now lets see, a 3g, a 8g and a 1.3g
The trick with jackpot winning at casino is to let the house holds your 24% of your winnings. In this way, irs is not going after me. I have receipt transaction from the casino that they withheld my 24%, which is the highest withholding for casino jackpot in the state of california. I mean I can declare a 1% hold but that would still means that I would have to pay back them taxes. Uncle sam don't play around. He audit you if you have an income at a certain level. If you are low income, he's not going after you. I know a poor broke dude who won jackpots too but he never have to pay back any.
First of all, if you poor, you shouldn't be gambling in the first place. Fix that beat down car of yours first before you go gambling. Feed your kids first before gambling. It makes my heart hurts just to see the poor driving a beat up car and still trying to gamble.
why you let the casino hold you money
just take it all and put in a high saving account so you can collect INTEREST
a few bucks till tax day april 15
gotta have discipline
can't be spending those money
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why you let the casino hold you money
just take it all and put in a high saving account so you can collect INTEREST
a few bucks till tax day april 15
gotta have discipline
can't be spending those money
And what am I gonna do with the tax that I have gained? Cash out to pay the irs tax on that too?
There is another way that I am going to teach you. You take all jackpot winnings and when filing your tax, you can go and get a win/lose statement and if you are a typical gambler, you will be in the negative. Take that amount and file a loss on gambling. In cali, not sure if it is national but you can only file your lost up to how much you win. It may not offset all but it will help some. In other words, you better have money handy during tax season or bust. Then again, the irs do let you do monthly payment with sign up.
The irs takes your money first and he uses it to help built up this nations. He pays you back though but without interest. Now if you are a rogue person and has no lick for government, you can figure out how much you should claim on your w2 so that it should even out. I don't owe him nothing and he don't owe me a refund check. Now that's how you can be an unamerican, riding on american built roads sponsors by everyone else and you can free load of that. :2funny:
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Lets say I sold some stocks; capital gain was 800k and capital lost was 50k. I understood because of high amount that I’ll need to file quarterly. What is the next process?
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And what am I gonna do with the tax that I have gained? Cash out to pay the irs tax on that too?
There is another way that I am going to teach you. You take all jackpot winnings and when filing your tax, you can go and get a win/lose statement and if you are a typical gambler, you will be in the negative. Take that amount and file a loss on gambling. In cali, not sure if it is national but you can only file your lost up to how much you win. It may not offset all but it will help some. In other words, you better have money handy during tax season or bust. Then again, the irs do let you do monthly payment with sign up.
The irs takes your money first and he uses it to help built up this nations. He pays you back though but without interest. Now if you are a rogue person and has no lick for government, you can figure out how much you should claim on your w2 so that it should even out. I don't owe him nothing and he don't owe me a refund check. Now that's how you can be an unamerican, riding on american built roads sponsors by everyone else and you can free load of that. :2funny:
lotto are consider income
it gets taxed
if you win $10k, you need to set about 25% to be safe
so you eat about $7,500 and give the other $2500 for uncle sam
you ask casino to withheld that $2500 for you
when you can just put it in a high saving account and get some INTEREST
till april 15
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lotto are consider income
it gets taxed
if you win $10k, you need to set about 25% to be safe
so you eat about $7,500 and give the other $2500 for uncle sam
you ask casino to withheld that $2500 for you
when you can just put it in a high saving account and get some INTEREST
till april 15
tell us again with your math skills how much am I gonna get out of 2500 from now till tax day?
Why waste time going that route? Let casino keep the tax so the irs can tax their azz instead of going after me. By tax day, I might not even have that cash around to pay uncle same. The safe way is the best way. IRS off your back is a big burden off your back.
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Lets say I sold some stocks; capital gain was 800k and capital lost was 50k. I understood because of high amount that I’ll need to file quarterly. What is the next process?
quarterly, monthly, 6 months,etc... are for more for business
depending on the business
sometimes, they prepaid in advance, pay as they go
some wait till april 15 to pay it all at once..
you gotta check with your business and what kind of filing they choose to do
now for the AVERAGE JOE....working 9 to 5
it varies, but USUALLY employer just collect and withheld all your taxes for you
they will pay uncle sam using any of the following timeframe up above (quarterly, monthly,etc...)
regarding your stocks, you don't pay quarterly
because you don't get your tax form till the end of the year
your brokerage will just send you a tax form and you just enter that into the investment
you pay your tax by april 15
$800k gain - $50k loss= $750k
if you trade in a ROTH IRA, you don't need to report
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regarding stocks
when you sell stock throughout the year
you need to set aside about 25% for the tax man if you have a captial gain
you will just set these money aside, all by yourself
no such thing as quarterly
just buying stocks, you haven't gotten any gains
so you don't need to report
it's only when you sell
also dividend are taxable, so you gotta report that
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tell us again with your math skills how much am I gonna get out of 2500 from now till tax day?
Why waste time going that route? Let casino keep the tax so the irs can tax their azz instead of going after me. By tax day, I might not even have that cash around to pay uncle same. The safe way is the best way. IRS off your back is a big burden off your back.
if you get that 2% high saving account on that $2500 the casino withheld for you
$2500x .02= $50/year
$50 / 12months= $4.16 x 4 months till april = $16.66
good for a case or two of beer O0 O0
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if you get that 2% high saving account on that $2500 the casino withheld for you
$2500x .02= $50/year
$50 / 12months= $4.16 x 4 months till april = $16.66
good for a case or two of beer O0 O0
$16 and I gotta do the reporting and all that on my end to the irs? eff that..
Just like procrastinatio n. I don't
Take care of it and move on with your life
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per cali-guy requested
if you just "BUYING" stock
you don't need to report anything until you "SELL"
when you "SELL", you realized the GAIN/LOSS
that's when you need to report
and depending on the time length you held the stock
you will be charge "LONG TERM(more than 1 year)" and "SHORT TERM (less than 1 year)
"short term"= more tax
"Long term"= less tax
keep the profit you make and keep 25% aside when you pay uncle during tax day april 15
there's no quarterly payment, because your brokerage don't mail them 1099 B till the end of the year
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there are different retirement account
taxable and nontaxable
in a ROTH IRA (nontaxable)....all your gains are tax free
meaning you don't need to report anything to uncle sam
$6,000 limit per year
go read some of my thread on the investment section
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if you are like DONALD TRUMP and bankrupty multiple business
you can write that as a "LOSS"
and carry that over year after year
and pay zero taxes for many years to come O0
people get upset DONALD TRUMP pay zero tax
he lost alot of money in the past
i won't be suprise if he still pay zero tax today
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My employer helps me not to pay that. Some company has a benefit program calls FSA or flexible spending account.
Lets say I make 10K a year. 10K is taxable. Under this program, the maximum is allowable can be used to pay for lets say toll fees or fast track car pool passes or transit to work where I have to pay for the bus fare or parking fees at work. Mine is only $270 a month but still, my employer cuts that amount off my paycheck and sends it to my house in a form of a live check. This amount of money is non taxable so a win for me. So when it comes to tax season, I'll just claim lets say 8K as disposable income so the irs will tax on my 8k.
I can't wait to get marry where the wifey has health benefit that covers the entire family. I then can ride off her health benefit and get off mine. My employer, instead of paying the health insurance company lets say 300 bux a month, they then will take that 300 and give it to me instead. $300 a month is a car payment so free car if I want to go that route. Another tax free incentives.
Competitions are high here thus why some companies are giving perks to help keep their employees employed with them longer.
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$16 and I gotta do the reporting and all that on my end to the irs? eff that..
Just like procrastinatio n. I don't
Take care of it and move on with your life
IRS is not going come after you if you owe them $16
they got bigger fish to catch
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IRS will start accepting tax return next week.....Janua ry 27, 2020
those with kids and dependent will need to wait 3-4 more week if they are collecting the EITC
IRS need more verification to hand out them $$$
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coworker ask me a question today....thoug ht i share
what happen if your kids die on JAN 1, 2019?
if you kid die on Jan 1... Jan 2......march 3... anytime of the year
they still consider as having live with you the whole year and you can claim them
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Two years ago, you posted the same thing you did this year, hmgRock.
This post of yours has been hanging around since 2017.
;D ;D ;D CAUGHT TWICE...
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IRS accepting federal tax return today
those with dependent will need to wait an extra 3-4 weeks to get your refund
MID FEB to maybe LATE FEB
if you don't have dependent, you should received it fast, maybe next week the latest
this week the earliest
For STATE, it should be fast too, for both single and people with dependent
depending on your states
looking at this week or next week for your refund if you have any
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I have a few questions (for now, more may come up later).
Using Turbo tax:
1. how does one qualify section 179 expense (not related to Turbo Tax)
2. where do you enter or write up an explanation note to the IRS in Turbo Tax?
Filing (marry vs separate):
1. I've heard married couple are making big bucks by filing separate. Please do explain the good, the bad, and the ugly.
Thanks,
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I have a few questions (for now, more may come up later).
Using Turbo tax:
1. how does one qualify section 179 expense (not related to Turbo Tax)
2. where do you enter or write up an explanation note to the IRS in Turbo Tax?
Filing (marry vs separate):
1. I've heard married couple are making big bucks by filing separate. Please do explain the good, the bad, and the ugly.
Thanks,
1. so most of the people i help with (simple W2 tax). you won't be doing those kind of stuff, because you don't make enough money $$$. you will just take the standard deduction.
unless you own like a business and have ton of expense that you need to deducted. $24k for married
2. it will just be under the deduction tab. might need to purchase the business version. if you wanna write off that $50k donation you make to GOODWILL, again. i don't think you make that much, maybe you do or don't. the IRS will contact you and do AUDIT if you are claiming like $100k on traveling expense and your business don't even travel etc....
3. if you are making big buck $500k++ than it's best to be single so your spouse don't pay the higher tax if they make only $30k
cuz it's combine
if you are poor, than married jointly is the way to go
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Redsea
unless you are making big money $$$ like in the 6 digital plus
i'm talking about $200k+ to millions and billions $$$
you will just take the standard deduction $24k for married couple
90% of american just take the standard deduction
because wage is low
and they are wage slave
lmao
im one of them