Current Events > Owe a ton on my taxes because this country is broken

(+) Yeah! (+)

Im never going to be able to have a savings lol

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only other people should have to pay taxes
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g980 posted...

only other people should have to pay taxes

No more like the government should just provide aid without an asterisk

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g980 posted...

only other people should have to pay taxes

Why would you come in here to kick a man while he's down, with nothing more than half cooked nonsense that he never said

the trick is being so rich that you get unlimited tax breaks, you should try that TC.

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I take it you're in the U.S.?

How much do you owe?

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It's good to owe. That means the gov't isnt borrowing from you interest free.

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You can thank Trump's 2017 tax plan for that.

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I owe roughly $850. This is because of the covid relief. I pretty much live paycheck to paycheck.

This country does not work.

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That sucks. I feel it too though. I only got back 5k this year instead of 6k like i did last year. Shit sucks.

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Wait how do y'all already know your tax returns when we can't file till the middle of the month?

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Tactical_Spork posted...

I owe roughly $850. This is because of the covid relief.

yep i know people facing that same situation. some of the tax refund going back to pay that up.
not mine. a relative i live with.
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BilalPowell posted...

Wait how do y'all already know your tax returns when we can't file till the middle of the month?

Not sure if serious

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Tactical_Spork posted...

I owe roughly $850. This is because of the covid relief. I pretty much live paycheck to paycheck.

This country does not work.

? You didnt report the stimmywas income did you?

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I owe 500. I still have a savings and plan. I wouldnt place the blame on that.

you should adjust withholding different

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It's the unemployment benefits I assume

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Irony posted...

BilalPowell posted...
Wait how do y'all already know your tax returns when we can't file till the middle of the month?
Not sure if serious

https://www.irs.gov/newsroom/2021-tax-filing-season-set-to-begin-february-12

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darkprince45 posted...

I owe 500. I still have a savings and plan. I wouldnt place the blame on that.

you should adjust withholding different

I bet it's UI. There's no withholding for that obviously

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Balrog0 posted...

I bet it's UI. There's no withholding for that obviously

like the pandemic UA? My wife got that. I set aside money right away from it to pay it back. But then they had an option to take it out

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Balrog0 posted...

I bet it's UI. There's no withholding for that obviously

My state lets you withhold for taxes for UI

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Apparently you can have a flat percentage withheld, which may or may not cover what you owe

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BilalPowell posted...

Wait how do y'all already know your tax returns when we can't file till the middle of the month?

The IRS not accepting returns until Feb 12 does not mean you can't prepare your return ahead of time.

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BilalPowell posted...

https://www.irs.gov/newsroom/2021-tax-filing-season-set-to-begin-february-12

Did you not even bother to read what you linked to?

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Balrog0 posted...

Apparently you can have a flat percentage withheld, which may or may not cover what you owe

I had the maximum of 10% taken out of mine but I'm still going to have to pay more than that for whatever reason. I'm bad with math and pay a guy to do this stuff so whatever but I thought that was annoying. It at least shouldn't be any crazy amount, so that's good.

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How much do NEETs actually owe in taxes?

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Veggeta X posted...

How much do NEETs actually owe in taxes?

I'm getting close to $1200 back

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I got both stimmy and work full time. Weird

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ShyOx posted...

? You didnt report the stimmywas income did you?

It automatically does this, you have to lol

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My software asked if I got both and it did it for me

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Tactical_Spork posted...

It automatically does this, you have to lol

Stimulus checks are not income.

You owe because you didn't have enough withheld during the year.

Terrible troll topic.

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I dunno what to tell you boss, i have literally never owed a cent prior to this

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Biden's America
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Tactical_Spork posted...

I owe roughly $850. This is because of the covid relief. I pretty much live paycheck to paycheck.

This country does not work.

I wish $850 is all I'd owe. I'll owe the taxes on $13,000 I received on the CERB. I'll also owe on the $2000 I made from doordash which. And to add to all that, I owe $5,000 from the emergency loan I was given to get my family back to Canada. And then finally I have to file for like 7 years due to living abroad.

Covid has really fucked us to say the least.

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Flauros posted...

That sucks. I feel it too though. I only got back 5k this year instead of 6k like i did last year. Shit sucks.

I dont understand people who think that much of a return is a good thing. It means youre overpaying throughout the year and giving the government an interest free loan.

If you didn't go to your employer and fill out a new withholding certificate after the new tax code went through, that might be part of the problem.

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Again, how does a NEET come to owing taxes?

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SK8T3R215 posted...

Stimulus checks are not income.

You owe because you didn't have enough withheld during the year.

Terrible troll topic.

You'd be surprised how people can screw up even a program meant to prevent you from screwing things up.

I know a guy who paid taxes to two states when he doesn't have to pay any state taxes.

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Tactical_Spork posted...

It automatically does this, you have to lol

Its not income though, and isnt subject to tax

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We pay estimated taxes throughout the year because we cant withhold enough. Its a pain to calculate, though.

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Veggeta X posted...

Again, how does a NEET come to owing taxes?

Im not a neet, I work full time, get a new gimmick.

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Go to school, get big refunds

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I'm confused what this topic is about. You got UI and you didn't withhold, so you pay the bracket % tax.

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Yeah the stimmy should not be taxed to you unless you make too much income to qualify for it.

Doordash guy should keep track of reciepts and miles sto deduct against the income

Estimated payment guy should withhold more on their paychecks instead of paying estimates. Unless it is from a business operation, then should look into using payroll and cutting payroll check Dec 31 to pay withholding taxes

Anyone else have tax problems?

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krazychao5 posted...

Yeah the stimmy should not be taxed to you unless you make too much income to qualify for it.

Doordash guy should keep track of reciepts and miles sto deduct against the income

Estimated payment guy should withhold more on their paychecks instead of paying estimates. Unless it is from a business operation, then should look into using payroll and cutting payroll check Dec 31 to pay withholding taxes

Anyone else have tax problems?

I said we can't withhold enough. We've paid estimated for several years, partly because of huge disparity in our pay. But this past year it was because of a consulting business, yes. My husband is working on remedying the situation, but I don't know that we'll be able to avoid paying estimated taxes throughout the year. I don't know what you mean about cutting payroll on 12/31.


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TC says he has a fulltime job but don't he hate working for the man? Or any man?

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Sariana21 posted...

I said we can't withhold enough. We've paid estimated for several years, partly because of huge disparity in our pay. But this past year it was because of a consulting business, yes. My husband is working on remedying the situation, but I don't know that we'll be able to avoid paying estimated taxes throughout the year. I don't know what you mean about cutting payroll on 12/31.

Depends how his consulting business is set up. Are you filing the business information on a Schedule C, or is the business incorporated and have it's own tax return? I'd suggest incorporating as a S Corporation, and run the business through there. S Corp owner can be an employee, so what I suggest to my clients is to not pay yourself until the end of year and then you will know what your net income is and then write a paycheck for reasonable amount, literally what the IRS says...a reasonable amount, typically around $30k and just pay federal and state withholding on the paycheck. Then you don't need to worry about estimated tax payments because taxes withheld on a W2 are deemed to be paid throughout the year.

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Veggeta X posted...

TC says he has a fulltime job but don't he hate working for the man? Or any man?

You are so fucking bad at shitposting man

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