FOT Forum
FOT Community => General Discussion => Topic started by: iAmBaronVonTito on January 20, 2009, 12:02:45 PM
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i know its early, but i figured we'd all have our griefs or triumphs over this year's collection or debt of taxes in 2009 so i started a new thread.
i signed up for an electronic W-2 this year and received my form yesterday. naturally, when i got home i installed my turbo tax and went at it. after 20 minutes i was done* and looked up at my total return: i owe close to $1,000.
now, ive never owed the government in my life and i have no problem paying if i need to, however, if i select for the government to withdraw as much as they can from each paycheck (including state), how can i still owe so much? this is less of a complaint and more of a plea for some kind of explanation; im a real dunce when it comes to economics- i pay my taxes, remain broke all year so i dont have to pay in april, and repeat. do any FOTs know what may have happened here to explain such an insane, unfair, six sides of nuts outcome for this?
*i dont own a house, no kids, im not married, not paying school loans, etc. i still use a 1040EZ, no kidding.
PS apologies to any FOTs on twitter or facebook since ive made this outburst a few times since last nite. im not upset at this point, it is what it is i guess.
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i know its early, but i figured we'd all have our griefs or triumphs over this year's collection or debt of taxes in 2009 so i started a new thread.
i signed up for an electronic W-2 this year and received my form yesterday. naturally, when i got home i installed my turbo tax and went at it. after 20 minutes i was done* and looked up at my total return: i owe close to $1,000.
now, ive never owed the government in my life and i have no problem paying if i need to, however, if i select for the government to withdraw as much as they can from each paycheck (including state), how can i still owe so much? this is less of a complaint and more of a plea for some kind of explanation; im a real dunce when it comes to economics- i pay my taxes, remain broke all year so i dont have to pay in april, and repeat. do any FOTs know what may have happened here to explain such an insane, unfair, six sides of nuts outcome for this?
*i dont own a house, no kids, im not married, not paying school loans, etc. i still use a 1040EZ, no kidding.
PS apologies to any FOTs on twitter or facebook since ive made this outburst a few times since last nite. im not upset at this point, it is what it is i guess.
Check that you didn't make a mistake entering information in Turbo Tax. I've done that before. Also, check last year's return to make a comparison with this year's return.
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The Sympathetic Ear gives me peace once again.
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Yeah, that doesn't sound right. There has to be an error in there somewhere.
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Check to make sure you've entered the deduction that's in a seperate section of the ez book. I'll bet that's what happened.
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taxact.com is a really easy, cheap (it might even be free depending on what you do) way to do your taxes.
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im going to try all of these things tonite.
PS for the record, the Sympathetic Ear does not give tax advice.
The Sympathetic Ear AP Mike gives me peace once again.
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I have NO idea how to access my W-2 information from working at Best Buy. I never signed up for a password account!!! Grr.
Also, my other job doesn't take taxes out which sucks. And they just took me from 43 hours a week to 20 which, living in Boston, sucks big time...but I guess that's neither here nor there.
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you should be able to call HR and have them mail you a copy, yeah? i dont know how best buy works, but they wouldnt be the first company to make it impossible for you to file your taxes.
jerks.
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I am CPA so if you want to PM me I can help you.
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Did my taxes today. For the first time in more than twenty years I'm getting a refund. Exciting!
Sorry to gloat in your thread, Tito. I hope your mystery was solved and all is now well with your return.
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You know where I'm not getting my taxes done? Liberty Tax. I'm sorry, but putting a grown man in a Lady Liberty gown and styrofoam tiara and making him dance around does not give me faith in your accounting skills.
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If you are a slob and you do your own taxes and you end up owing, you probably screwed up. PAY A PROFESSIONAL. It is worth it. After I got over being a cheapskate about it and paying a real pro to do my taxes I started getting thousands back. Of course, I itemize, so if you're a standard deduction kind of person, it's hard to say how that'll pan out. Get a referral from someone. I ain't talking about HR Block.
Anyone in the LA are, I have a guy that RULES. PM me if ya wanna.
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My mother has done my taxes (as well as everyone else's in the family) for my entire adult life. The results have always been good.
So my advice is: Ask my mom to do your taxes!
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no worries, Sarah, gloat away. ive always received a return and it feels good. unfortunately, this year will be the first of paying my dues.
trust me, when youre taxes are as easy as mine, ive never needed a pro...i definitely owe this year. bogus, but necessary, i suppose.
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Question for long-time donors:
Last year's marathon was my first big donation and I'm not sure if I should expect to receive a form from WFMU to use for deducting my donation (I know how much I gave, but I'm pretty sure you can only deduct the amount donated minus the value of the stuff you got in return and I don't know what this is). Has anyone received such a form in the past?
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so i found out what the problem was today...some bonehead (or worse) in HR has me entered with FOUR whopping exemptions from federal taxes (it is normally 'zero'), which means i got $100 extra each paycheck this year. thanks a lot, lady.
im so annoyed (amongst other things).
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I think the HR lady should finance your tax payments. I can't help wondering, though: didn't you question why you were getting $100 extra each paycheck?
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I think the HR lady should finance your tax payments. I can't help wondering, though: didn't you question why you were getting $100 extra each paycheck?
i didnt realize i was making an extra $100 (i did that math when i found out they werent taking out enough money), but i will say this taught me a serious lesson to start looking at my pay stubs more closely. in the meantime, i get to speak with this woman personally today when she calls me back (if she calls me back).
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I ran into that problem a few years ago.
I would rather have the government take whatever taxes they need out of my check, then get a refund at the end of the year based on whatever exemptions I decide to take advantage of.
Plus, if I get married in November does that mean I file jointly with my hubby when I do my 09 taxes next year?
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Plus, if I get married in November does that mean I file jointly with my hubby when I do my 09 taxes next year?
If you choose to file jointly you'll be able to do so for 2009 if you get married in November 2009.
I got married in December of '04 and filed jointly for 2004 taxes.
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I would rather have the government take whatever taxes they need out of my check, then get a refund at the end of the year based on whatever exemptions I decide to take advantage of.
I used to feel that way until I realized this means the gov't is getting an interest-free loan from me all year.
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I would rather have the government take whatever taxes they need out of my check, then get a refund at the end of the year based on whatever exemptions I decide to take advantage of.
I used to feel that way until I realized this means the gov't is getting an interest-free loan from me all year.
im told that a 401(k) is supposed to subside this feeling by putting money back in your pocket. im not into 401(k) (though im told i should be), but...whatever, i just do my taxes.
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What little money I make, I make writing. Last year was the first year I had to pay taxes, which is exciting since that means I made enough money writing that I had to pay taxes! I had to pay a lot for self-employment tax compared to how much I made. I don't remember the amount, but it made me sad.
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Every dollar I made in 2008 was made without withholdings -- my day job pays me as a part-time contractor, and everything else I'm paid for is as a freelancer. 1099-MISCs all up ins. It was a minor miracle that I somehow managed to get the amount I owe under the $2,000 mark.
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Is HR Block bad? I was thinking of using them. But I AM in the LA area, hugman, so maybe I'll take you up on your offer.
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I had to pay a lot for self-employment tax compared to how much I made. I don't remember the amount, but it made me sad.
At least you get to deduct half of it.
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Is HR Block bad?
I don't have any first-hand experience with them, but I've heard nothing but bad bad things from people who have.
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I had to pay a lot for self-employment tax compared to how much I made. I don't remember the amount, but it made me sad.
At least you get to deduct half of it.
I get to do what?!
Is HR Block bad?
I don't have any first-hand experience with them, but I've heard nothing but bad bad things from people who have.
My mother has been doing her own taxes for years just fine, but she wanted to give H & R Block a chance because she had some questions. She discovered that she was better off doing it herself.
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Got my refund! First one in I don't know how many years (and the last ever, probably). Pretty neat.
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Is HR Block bad? I was thinking of using them. But I AM in the LA area, hugman, so maybe I'll take you up on your offer.
I used them once. I thought they were way too expensive. I used TurboTax last year and liked it.
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Question for long-time donors:
Last year's marathon was my first big donation and I'm not sure if I should expect to receive a form from WFMU to use for deducting my donation (I know how much I gave, but I'm pretty sure you can only deduct the amount donated minus the value of the stuff you got in return and I don't know what this is). Has anyone received such a form in the past?
I'm facing this deliema too. How do I estimate how much the tshirt and bar of soap are worth so I can subtract that (plus a 7 inch and another t shirt that we'll be getting some time this year)
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Question for long-time donors:
Last year's marathon was my first big donation and I'm not sure if I should expect to receive a form from WFMU to use for deducting my donation (I know how much I gave, but I'm pretty sure you can only deduct the amount donated minus the value of the stuff you got in return and I don't know what this is). Has anyone received such a form in the past?
I'm facing this deliema too. How do I estimate how much the tshirt and bar of soap are worth so I can subtract that (plus a 7 inch and another t shirt that we'll be getting some time this year)
You do get a letter telling you the swag value you need to deduct from your overall contribution.
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Question for long-time donors:
Last year's marathon was my first big donation and I'm not sure if I should expect to receive a form from WFMU to use for deducting my donation (I know how much I gave, but I'm pretty sure you can only deduct the amount donated minus the value of the stuff you got in return and I don't know what this is). Has anyone received such a form in the past?
I'm facing this deliema too. How do I estimate how much the tshirt and bar of soap are worth so I can subtract that (plus a 7 inch and another t shirt that we'll be getting some time this year)
You do get a letter telling you the swag value you need to deduct from your overall contribution.
Did anyone who pledge $75+ last year for the Rated GG premium get this letter yet? If so what does it say?
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Question for long-time donors:
Last year's marathon was my first big donation and I'm not sure if I should expect to receive a form from WFMU to use for deducting my donation (I know how much I gave, but I'm pretty sure you can only deduct the amount donated minus the value of the stuff you got in return and I don't know what this is). Has anyone received such a form in the past?
I'm facing this deliema too. How do I estimate how much the tshirt and bar of soap are worth so I can subtract that (plus a 7 inch and another t shirt that we'll be getting some time this year)
You do get a letter telling you the swag value you need to deduct from your overall contribution.
Did anyone who pledge $75+ last year for the Rated GG premium get this letter yet? If so what does it say?
It says to deduct $8 for each t-shirt, CD, DVD, book, poster, or calendar you received from your pledge total. No value is given to magnets or bumper stickers