Reddit taxes

The plugged-in transaction history from Kraken onto Koinly shows the following results but I need to pay to generate tax documents for individual years. I made 52 transactions in 2021, Capital gains/ PNL- $-169.11. I made 0 transactions in 2022, Capital gains/ PNL- $0. Taxes withheld from the $7500 bonus check assume a salary close to $200k (24 or 26x $7500). If too much was withheld, it’d come back when you file your tax return and get your refund (or reduce what you owe). Also, yes it’s typical to withhold 401k deductions in same percentage as regular paychecks. r/personalfinance. Reddit's home for tax geeks and taxpayers! News, discussion, policy, and law relating to any tax - U.S. and International, Federal, State, or local. The IRS is experiencing significant and extended delays in processing - everything. Don't post questions related to that here, please. So if you gave $300 to charity last year, that's worth $30-$36 for most of us single folks in the military. Do not use TurboTax or H&R Block. Do not use their "Get refund now. for $49.99". Do not use there "Expert second look" for $29.99. IF your single.So in total your federal taxes would be $2,440.50. This is assuming a $35,000 taxable income and no other changes from 2022. ... Reddit's home for tax geeks and taxpayers! News, discussion, policy, and law relating to any tax - U.S. and International, Federal, State, or local. The IRS is experiencing significant and extended delays in ...Anytime a politician introduces a plan to “tax the rich,” the middle class and under always pay the price,” Burton Brink, former Sergeant-LA County Sheriff’s Dept, … Taxes withheld from the $7500 bonus check assume a salary close to $200k (24 or 26x $7500). If too much was withheld, it’d come back when you file your tax return and get your refund (or reduce what you owe). Also, yes it’s typical to withhold 401k deductions in same percentage as regular paychecks. r/personalfinance. Per federal law this interest is not supposed to be taxed at the state level only federal, however credit karma system appears to be subjecting this income to state (PA), income tax and my state return drops from $90 to $78 after I entered the information. Used CK last night after over a decade of using TurboTax.That's taxed at 10% on the first $20,550 and the remaining $53,550 is taxed at 12%. Total tax is $8,481 2023 #s: $100,000 income less $27,700 standard deduction equals $72,300 taxable income. That's taxed at 10% on the first $22,000 and the remaining $50,300 is taxed at 12%. Total tax is $8,236 The difference is $245.5 min. President Biden will propose a set of new housing initiatives in Thursday’s State of the Union address, including tax credits to offset high mortgage rates …You don't have to file, but you should file for your fourth year purely for the purposes of paying on loans going into residency (10% payments on an income of 0 means you'll have twelve 0$ payments towards your 120 needed for PSLF if … r/taxhelp: This is a community for questions and discussions about anything tax related. Feel free to ask for opinions, experiences, and insights… Assuming a 50 cent tax per gallon, that means you'll be paying roughly $300 per year (paid on a credit card, as you've already spent your paycheck) in gas taxes - or 0.6% of your income. That brings us up to 34%. We could factor in sales taxes on alcohol, but since we've already spent all your savings - I see no need. If you owe, or are getting back, $500 that is not a big deal. For the most part, a $500 return/payment at tax time is minor. I have owed, or been owed, up to $5,000 at different times with no big deal. Any time an average Joe messes up with their taxes the IRS either cuts you a check or sends you a bill months later. If you’re a working American citizen, you most likely have to pay your taxes. And if you’re reading this article, you’re probably curious to know what exactly you’re paying for. Th...There are no income tax implications with you moving Capital from one bank to another. The interest you receive from the accounts are taxable income. Thank You.broadsharp. •. File with turbo tax. You need to complete a 1040ez form. It will take you through all the forms needed. Just follow the easy instructions. It will allow you to file online with your state and federal. You’ll just need to complete your local tax forms and mail them in.He buys .03% per year, for a total of .45% of Dominos after 15 years. At this point, he converts from a traditional IRA to a ROTH IRA paying roughly $100K in taxes ($450K in contributions multiplied by his tax rate at the time of the conversion - maybe a little more or less than $100K, but in the neighborhood).Also, there are forms of income that aren't automatically reported to the government (if you sell stuff online, or if you are an independent contractor), so you have to calculate the tax you owe on that income as well. Now most people probably use tax software though, which allows you to just enter the info and generates a return for you.Don't worry about your manpower having a -1000% base value modifier. This is normal. Instead of gaining manpower every month, your taxes will provide you with manpower every year. A few days into the game you'll get the taxes popup. If you're starting out, it's fine to use the default settings for taxes and delegate taxes to the AI.StudioTax has been allowing Canadians to DIY their taxes for free since 2004. It works on both Windows and Mac, but the latter version is only available in English but does support Quebec provincial returns, with the latest update. Also, you’ll have to download and install the program. It also runs on donations.We changed your return. Top 5 searched notices or letters. Additional Documentation Required – Refund Pending (FTB 4502); Demand for Tax Return ... Total tax = $4,740. Essentially, $4,700 of your raise was taxed at 12% (adding $564 to tax) to fill up the 12% bracket, and $1,300 of your raise was taxed at 22% (adding $286 to tax). Note that your "taxable income" is $52,000 – $12,000 = $40,000 in the above example, broken into chunks of 9,525 + 29,175 + 1,300. r/taxhelp: This is a community for questions and discussions about anything tax related. Feel free to ask for opinions, experiences, and insights…The return for tax year 2022 will be due April 17, 2023. You can automatically get that extended to October 16. However the tax is still due throughout 2022, and any remaining amount is still due April 17. If you are owed a refund, you have until April 17, 2026 to …StudioTax has been allowing Canadians to DIY their taxes for free since 2004. It works on both Windows and Mac, but the latter version is only available in English but does support Quebec provincial returns, with the latest update. Also, you’ll have to download and install the program. It also runs on donations.They really need to have a personal income tax class in high school because contrary to popular belief, for many taxpayers in lower tax brackets taxes are not complicated. There is a very simple formula: Income - Adjusted Gross Income Deductions (alimony payments, IRA contributions, Self-Employed Health Insurance deduction, student loan ... Freetaxusa is great. I usually do my taxes first in TurboTax because they tend to have some nicer import features, and then I'll do them in freetaxusa. You don't have to pay until you file. If the numbers match up I know I did them right and I'll submit through freetaxusa because fuck TurboTax. Nothing is taxed until you withdraw it from your IRA (i.e. make a distribution). If you make a distribution of $1000, then that $1000 is treated as ordinary income, for tax purposes. If SPAXX is your "core" account, then you would need to ensure it contains at least $1000 before making the distribution. With your income, you're in the 22% bracket, so a $300 charitable donation would reduce your final tax bill $300 * 22% = $66. Since there is no 100% tax bracket, the tax savings will always be less than what you "spent" on the donation. So whether it's "worth it" really boils down to whether you think the cause you're donating to is worthy even ... So in total your federal taxes would be $2,440.50. This is assuming a $35,000 taxable income and no other changes from 2022. ... Reddit's home for tax geeks and taxpayers! News, discussion, policy, and law relating to any tax - U.S. and International, Federal, State, or local. The IRS is experiencing significant and extended delays in ...So if you spend more than your reimbursement, you can claim the excess as tax deductible - this used to apply to everyone, but it was cut to military only in 2017. You can only claim the expenses they don’t reimburse you for. They will reimburse you for 90+% of them. So rarely anything to claim.Best. Top. New. Controversial. Old. Q&A. dequeued. •. Here are a few links to helpful comments: list of free and inexpensive options by u/BouncyEgg. more detailed review of …you are subject to tax when ever you SELL a stock if it was for more than you paid. novice daytraders are often SHOCKED. Terrible-Wrangler-32. • 3 yr. ago. Stocks sold when held for less than 1 yr is tax at normal income tax rate. Stocks sold when held for more than 1 yr is tax at a maximum rate of 20%.EIC and CTC Refund Date. Remember, Congress passed a law that requires the IRS to HOLD all tax refunds that include the Earned Income Tax Credit (EITC) and Additional Child Tax Credit (ACTC) until February 15, 2023, regardless of how early the tax return was filed. Anyone else notice if you try to check your status now it doesn't even have like ...Reddit's home for tax geeks and taxpayers! News, discussion, policy, and law relating to any tax - U.S. and International, Federal, State, or local. The IRS is experiencing …Are you looking for an effective way to boost traffic to your website? Look no further than Reddit.com. With millions of active users and countless communities, Reddit offers a uni...In russia we pay 20% to pension, 5% to medical insurance, 13% “official tax”, so, it is about 38%+. It is higher than in a lot of other countries and gives us nothing even close to other countries. There are several reasons for that. But the most important is that people just avoid paying taxes. A fellow expat here. FreeTaxUSA, Free fed, pay $15 for state, ( TaxHawk is the same company) OnLine Taxes offers free federal and $10 state returns. It has a more simplified interface, more like CashApp Tax vs FreeTaxUsa. MyFreeTaxes.com (Run by United Way/TaxSlayer/CashApp), Free fed/State. It is taxed just like any other job for income tax purposes, so you should probably expect to pay 3-4 thousand in federal income tax and maybe 1 thousand or a little more in state income tax. This depends on the state tho, because a few states don’t have any income tax. ... Reddit's hub for advice, articles, and general discussion about ... It's 100% free for filing your federal return regardless of what forms you need to include. State tax return filing is a very reasonable $13-15. It's not quite as hand-holding as TurboTax, and it doesn't support importing electronic forms, you have to type everything in. r/personalfinance. true. Save 20-30% now because you will probably owe. Hey! So Rover will send you a 1099 if you make over $600 in the given calendar year. This will add income straight to your taxable income on your tax return. Make sure to set aside money for taxes if you expect to make more than $600!He buys .03% per year, for a total of .45% of Dominos after 15 years. At this point, he converts from a traditional IRA to a ROTH IRA paying roughly $100K in taxes ($450K in contributions multiplied by his tax rate at the time of the conversion - maybe a little more or less than $100K, but in the neighborhood). The return for tax year 2022 will be due April 17, 2023. You can automatically get that extended to October 16. However the tax is still due throughout 2022, and any remaining amount is still due April 17. If you are owed a refund, you have until April 17, 2026 to claim it. r/tax. 24 Jan 2024 ... Learn how to claim the Earned Income Tax Credit (EITC) when you file your taxes. Find out what documents you need and how to get help.Top ten FAQs for tax filing season. Taxes. Things to keep in mind for tax filing season (with clarifications edit: fixed to record some easy updates). You have to file federal taxes if … charcuteriekween516. ADMIN MOD. 2024 Tax refund thread where/when you filed got accepted. Just wanted to start a thread where we all list off who we filed with, the date we filed, the date we got accepted, and the date the return came through! Maybe it will help me stop obsessively refreshing the Where’s My Refund page - but doubt it ;) Yes you have to report it as interest income and people do. HYSA should get at least 0.3%. Still tiny but much better than 0.01%. Depending on the financial position, plenty of “not 1%er” people have emergency funds larger than $20k.This will also effectively reduce your 3 month penalty by 1 month if you hold for less than 5 years, and give you a 1 month bonus if you hold for more than 5 years. Purchase more than $10,000 per year: You can purchase up to $5,000 in additional paper I bonds per year via your tax return, making the total yearly purchase limit $15,000.For example, $100k SE profit = $14.1k in SE tax (15.3% of 92.35% of net SE profit). The SE individual gets to subtract ~$7k to make their taxable income ~$93k. With an S-Corp, with the same $100k they'd likely pay the "employee" $93k and pay $7k in ER FICA tax. The employee's W-2 would should $93k of income= the same as SE income after the ...5 Mar 2024 ... This guide provides detailed tax information for students including the most common income, deductions, and credits available to them.Visit HealthCare.gov to learn about your Health Insurance Marketplace® options if you don't qualify for lower health insurance premiums. Reddit's home for tax geeks and taxpayers! News, discussion, policy, and law relating to any tax - U.S. and International, Federal, State, or local. The IRS is experiencing significant and extended delays in processing - everything. Don't post questions related to that here, please. Per federal law this interest is not supposed to be taxed at the state level only federal, however credit karma system appears to be subjecting this income to state (PA), income tax and my state return drops from $90 to $78 after I entered the information. Used CK last night after over a decade of using TurboTax.Standard deductions are really designed for w2 workers who have little to no tax liabilities (single, no kids, no mortgage, no capital gains, no property). Being and independent contractor for DD is not that situation.r/IRS: Get help with your taxes from experts and fellow taxpayers. Stay ahead of the curve with news and updates. Find answers to your questions…Last year, I shared a web tool that I built to calculate Canadian income taxes, after-tax income, and tax rates -- across all provinces and territories at once.. I've just finished updating the tool for the 2020 tax year, which can be found here: Canadian Income Tax Calculator Here are the results for Canadians earning $55,000 of pre-tax employment …Reddit's home for tax geeks and taxpayers! News, discussion, policy, and law relating to any tax - U.S. and International, Federal, State, or local. The IRS is experiencing significant and extended delays in processing - everything. …I normally keep taxes low (er) in the beginning - 6-8% for R/C, 9-10% for I - and then inch them up as the city expands and more services are needed. Eventually, I set R/C to 8/9% and industry gets set to the max (12%). Early game can pretty easily be survived by turning down your water/power budgets because more is produced than you can use ...Reddit's home for tax geeks and taxpayers! News, discussion, policy, and law relating to any tax - U.S. and International, Federal, State, or local. The IRS is experiencing significant and extended delays in processing - everything. …He buys .03% per year, for a total of .45% of Dominos after 15 years. At this point, he converts from a traditional IRA to a ROTH IRA paying roughly $100K in taxes ($450K in contributions multiplied by his tax rate at the time of the conversion - maybe a little more or less than $100K, but in the neighborhood).Ok, so ignore state tax and other tax deductions. If you make $100,000 in salary you'll owe about $18,731 in taxes. If you take a loss of $700 on your rental business, that will be set off against from your $100,000 salary. So at the end of the day, it will be like you made $99,300 in income. instead you'll owe about $18,535. A comprehensive guide to the free and low cost tax filing options for people filing an individual return in 2022, including self-filing, self-filing with help, and free tax preparation programs. Find out the eligibility criteria, benefits, and links for each option, as well as tips and resources for military, expats, and prior years. I went through my taxes using TaxSlayer expecting to file for free but when I go to the end I was "upgraded" to paid classic because I had a 1099-R form. I might have continued except for the absurd price for filing a state return. $40 is way too much. So, I decided to check out Free File Fillable Forms and e-file of my federal return was a breeze!Save about 20% of your revenue to use towards this. If it's a retail business, you'll also need to pay sales tax to your state every month; your state should have a sales tax filing website. If you hire any employees, you'll need to do payroll taxes for them, but for now you shouldn't need to worry about it. SlagandGrit.... tax · GST/HST · Payroll ... Share this page. Blogger · Diigo · Email · Facebook · Gmail · LinkedIn® · MySpace · P...Taxpayers are required by law to file an income tax return for any year in which a filing requirement exists. There are numerous practical reasons to file tax ...• 1 mo. ago. Immediate_Math_3055. Free Tax Resources for 2024. Taxes. This week is the official start of the 2024 tax season and I wanted to take a quick moment to share 2 …Save 20-30% now because you will probably owe. Hey! So Rover will send you a 1099 if you make over $600 in the given calendar year. This will add income straight to your taxable income on your tax return. Make sure to set aside money for taxes if you expect to make more than $600!For reviews, I've used the following - note prices here are for federal only; state is going to typically add $15-$35. Prices should include e-file for each return. Turbo Tax. The ever-popular TurboTax is easy to use, has app support (multiple apps for self employed, tracking, etc), and includes live support.The formula to back out sales tax from a purchase is written as total price / 1 + sales tax rate = cost without sales tax, according to the financial section of the Houston Chronic...So if you are looking to pick up a deck and blast through the ladder you might want something else. Anyway heres a brief guide on the most common decks you will see. Rakdos midrange: In: recruitment offcier, devout decree, 2x guardian of faith. Out: 2x phyrexian revoker, 1x elite spellbinder, 1x skyclave apparition. If you owe, or are getting back, $500 that is not a big deal. For the most part, a $500 return/payment at tax time is minor. I have owed, or been owed, up to $5,000 at different times with no big deal. Any time an average Joe messes up with their taxes the IRS either cuts you a check or sends you a bill months later. Total tax = $4,740. Essentially, $4,700 of your raise was taxed at 12% (adding $564 to tax) to fill up the 12% bracket, and $1,300 of your raise was taxed at 22% (adding $286 to tax). Note that your "taxable income" is $52,000 – $12,000 = $40,000 in the above example, broken into chunks of 9,525 + 29,175 + 1,300. Last year, I shared a web tool that I built to calculate Canadian income taxes, after-tax income, and tax rates -- across all provinces and territories at once.. I've just finished updating the tool for the 2020 tax year, which can be found here: Canadian Income Tax Calculator Here are the results for Canadians earning $55,000 of pre-tax employment … The first $13,850 would still not be taxed because thats the standard deduction. The second $11,000 would be taxed at 10% still. (to a total. From $11,000 to $44,725 would be taxed at 12%. There would be $1,425 left that would be taxed at 22%, but only that $1,425 would be taxed at that rate. Listen. 2:34. Reddit Inc. is telling potential investors in its initial public offering that it expects revenue in 2024 to grow by more than 20% versus the previous year, …There are no income tax implications with you moving Capital from one bank to another. The interest you receive from the accounts are taxable income. Thank You.So if you spend more than your reimbursement, you can claim the excess as tax deductible - this used to apply to everyone, but it was cut to military only in 2017. You can only claim the expenses they don’t reimburse you for. They will reimburse you for 90+% of them. So rarely anything to claim.In russia we pay 20% to pension, 5% to medical insurance, 13% “official tax”, so, it is about 38%+. It is higher than in a lot of other countries and gives us nothing even close to other countries. There are several reasons for that. But the most important is that people just avoid paying taxes. A fellow expat here.Everytime you sell it's a taxable transaction. For instance I buy Litecoin in coinbase and transfer it to kucoin so I can trade it for other coins there. When I trade the Litecoin it's a taxable transaction. Typically it's more likely to be a small loss with fees since I trade it within a few hours, but it's reportable.On my W-2 in box 11 it says NQDC and then a dollar amount. To maintain privacy (just in case) let's call it $50. So it says NQDC $50. According to my previous conversation with HR, the $50 is to cover the FICA of the $400 RSU. HR told me that the $50 is taxable, but not payable. And lastly for box 12b it says Y - $400.California Use Tax Information. The sales and use tax rates vary depending on your retail location. The sales and use tax rate varies depending where the ... The return for tax year 2022 will be due April 17, 2023. You can automatically get that extended to October 16. However the tax is still due throughout 2022, and any remaining amount is still due April 17. If you are owed a refund, you have until April 17, 2026 to claim it. r/tax. Each tax bracket only charges you that percentage for the amount you make in that bracket. Using some very simplified numbers to make this clear, lets say the tax brackets are: . $100 - 5% ($5) $200 - 10% ($10) $300 - 20% ($20) Since it sounds like you thought the percentage was your 'whole' income, you'd probably assume someone making $150 … FreeTaxUSA, Free fed, pay $15 for state, ( TaxHawk is the same company) OnLine Taxes offers free federal and $10 state returns. It has a more simplified interface, more like CashApp Tax vs FreeTaxUsa. MyFreeTaxes.com (Run by United Way/TaxSlayer/CashApp), Free fed/State. Turbo Tax download (aka you have a laptop with no disk drive) - can only be linked to one account Can only file 1 return per account ... Reddit's home for tax geeks and taxpayers! News, discussion, policy, and law relating to any tax - U.S. and International, Federal, State, or local. The IRS is experiencing significant and extended delays in ... That means you should have updated your w4s (both of you probably marked married, meaning each job under withholds as if it is the only married household job). Ways to reduce taxable income as an employee - max your tax advantaged retirement accounts like traditional 401k. Public_Wolf3571. • 4 mo. ago. Reddit's home for tax geeks and taxpayers! News, discussion, policy, and law relating to any tax - U.S. and International, Federal, State, or local. The IRS is experiencing significant and extended delays in processing - everything. …You do actually have an option to stop penalties and interest from accruing while you go through the audit process, or even before it starts. IRC § 6603 allows you to make cash deposits to cover any outstanding tax liability until a decision is made. In the case of disputed taxes where you have the funds to pay them this can reduce the bill by a good …With your income, you're in the 22% bracket, so a $300 charitable donation would reduce your final tax bill $300 * 22% = $66. Since there is no 100% tax bracket, the tax savings will always be less than what you "spent" on the donation. So whether it's "worth it" really boils down to whether you think the cause you're donating to is worthy even ...Ok, so ignore state tax and other tax deductions. If you make $100,000 in salary you'll owe about $18,731 in taxes. If you take a loss of $700 on your rental business, that will be set off against from your $100,000 salary. So at the end of the day, it will be like you made $99,300 in income. instead you'll owe about $18,535.Recommendation all the way. It's the only free way to file over 73,000 income and filing should always be free for all. I think paying to file your taxes "just because" is a joke.Time to Assess Tax Can Be Extended. If you fail to file your tax return voluntarily, then the IRS can assess tax under the Substitute for Return (SFR) program. If your return was filed under the SFR program it does not set the three-year time limitation for the IRS to assess any additional tax. This means IRS can assess tax and additional tax ... The return for tax year 2022 will be due April 17, 2023. You can automatically get that extended to October 16. However the tax is still due throughout 2022, and any remaining amount is still due April 17. If you are owed a refund, you have until April 17, 2026 to claim it. r/tax. Before you file taxes with cash app. I’m just gonna leave this here since i know it’s different for everyone, but i had my taxes “accepted” a day after filing with cashapp. This still hasn’t been reflected on the IRS website after almost 2 weeks now. and it’s ridiculously difficulty to get in touch with support because the support ... The proposal follows closely the international agreement and sets out how the principles of the 15% effective tax rate – agreed by 137 countries – will be ...So if you spend more than your reimbursement, you can claim the excess as tax deductible - this used to apply to everyone, but it was cut to military only in 2017. You can only claim the expenses they don’t reimburse you for. They will reimburse you for 90+% of them. So rarely anything to claim.Reddit's home for tax geeks and taxpayers! News, discussion, policy, and law relating to any tax - U.S. and International, Federal, State, or local. The IRS is experiencing significant and extended delays in processing - everything. …Let's say you're tax obligation is $20k, and your marginal tax bracket (amount you pay on last dollar earned) is 25%. Now let's say you donate $1000 to a charity. Your taxable income would decrease by the $1000, and you would save $250 in taxes compared to if you had spent the $1000 on a vacation. So your tax obligation would decline to $19,750.StudioTax has been allowing Canadians to DIY their taxes for free since 2004. It works on both Windows and Mac, but the latter version is only available in English but does support Quebec provincial returns, with the latest update. Also, you’ll have to download and install the program. It also runs on donations. | Cdrpuysuf (article) | Mwjjm.