• Why am I being undercharged on my federal income taxes?

    So far on the year I’ve made $58,000 gross, and I do have some tax allowances but still I have $56,000 taxable income. My concern is that at $38,000 I should have entered the 22 percent bracket, but I’m still being charged 12 percent. I like paying less taxes, but the issue is I’ll probably unexpectedly owe... show more
    So far on the year I’ve made $58,000 gross, and I do have some tax allowances but still I have $56,000 taxable income. My concern is that at $38,000 I should have entered the 22 percent bracket, but I’m still being charged 12 percent. I like paying less taxes, but the issue is I’ll probably unexpectedly owe thousands of dollars at tax return time. I’m wondering why I’m being undercharged?
    13 answers · 4 days ago
  • Single mother of 3 with a tax issue.?

    I received a court settlement in 2016 for $66k of which 24k went to attorneys at settlement and 19k went to medical bills. I just received a tax bill for 17k from the IRS and I have 30 days to respond. Any advice on what to do? Do I refile for that tax year? it looks like i m being taxed for the entire amount of... show more
    I received a court settlement in 2016 for $66k of which 24k went to attorneys at settlement and 19k went to medical bills. I just received a tax bill for 17k from the IRS and I have 30 days to respond. Any advice on what to do? Do I refile for that tax year? it looks like i m being taxed for the entire amount of the settlement. Thank you in advance.
    11 answers · 3 days ago
  • Pay check tax deductions?

    I started a new job and I have a couple questions on W4's. $16 per hour at 35 hours a week. If I choose 2 for allowances what would my take-home pay be? I heard you get more 42 allowances than 1?
    I started a new job and I have a couple questions on W4's. $16 per hour at 35 hours a week. If I choose 2 for allowances what would my take-home pay be? I heard you get more 42 allowances than 1?
    6 answers · 19 hours ago
  • I am I a dependent if I was not enrolled in any classes for 7.5 months out of 2018, turned 19 on 2/10 and am currently enrolled in 9 units?

    I will have lived with my parents for the whole year.
    I will have lived with my parents for the whole year.
    9 answers · 4 days ago
  • Can IRS found out that I don't have Health insurance and charge me with penalties ?

    Best answer: Definitely. If you did have insurance, you'd get a written confirmation every year. The IRS gets a copy so they can tell you're lying. It takes quite awhile before they match everything up.
    Best answer: Definitely. If you did have insurance, you'd get a written confirmation every year. The IRS gets a copy so they can tell you're lying. It takes quite awhile before they match everything up.
    17 answers · 1 week ago
  • Do I have to itemize my deductions to file IRS form 8396, mortgage interest credit?

    I bought a house at the end of the year so only had one month I could claim interest as a deduction, so the standard deduction was higher. However I used the Mortgage Credit Certificate and have to file a IRS form 8396, but I can’t tell if I have to itemize in order to file it or not.
    I bought a house at the end of the year so only had one month I could claim interest as a deduction, so the standard deduction was higher. However I used the Mortgage Credit Certificate and have to file a IRS form 8396, but I can’t tell if I have to itemize in order to file it or not.
    5 answers · 1 day ago
  • Does a state tax lien usually mean a federal tax lien and is this bad for the credit report?

    My boyfriend procrastinated dong his taxes. He kept saying he'd do them so much (on his own), over and over, that I didn't ask him anymore. Well, I saw on public records that he has a state tax lien, well, three separate cases, the most recent judgment a few days ago (around $4000 for that one, but close to... show more
    My boyfriend procrastinated dong his taxes. He kept saying he'd do them so much (on his own), over and over, that I didn't ask him anymore. Well, I saw on public records that he has a state tax lien, well, three separate cases, the most recent judgment a few days ago (around $4000 for that one, but close to $6000 in total). Does this mean he probably has a federal tax lien, too? He works in a casino, low pay rate, most of his income is from tips. Can his property be seized? He doesn't really own anything other than his car and furniture.
    6 answers · 1 day ago
  • We are just married, and he has 3 kids, how do I file and how many exemptions can I claim?

    I work full time and she doesn t work but receives child support. When it takes time we will file separately, I believe if she claims her children, then I can t claim neither of them, nor even her. If this is the case then I believe my exemptions should only be 1 for myself, not even 2 for married because... show more
    I work full time and she doesn t work but receives child support. When it takes time we will file separately, I believe if she claims her children, then I can t claim neither of them, nor even her. If this is the case then I believe my exemptions should only be 1 for myself, not even 2 for married because she ll do her own taxes. does this sound right? I m trying to make sure I m doing this right What is best for me? Married but withhold as single rate? or Married? Thank you
    9 answers · 5 days ago
  • Why will all the Taxpayers in Florida be OBLIGATED to bail out the Dakotas and Montana, what have they ever done for Florida?

    Why will all the Taxpayers in Florida be OBLIGATED to bail out the Dakotas and Montana, what have they ever done for Florida?

    Best answer: Because the Dakotas and Montana are 95%+ Caucasian, whereas Florida has black and brown people, and the American system is designed to make minorities pay and suffer, much more than Caucasians..
    Best answer: Because the Dakotas and Montana are 95%+ Caucasian, whereas Florida has black and brown people, and the American system is designed to make minorities pay and suffer, much more than Caucasians..
    8 answers · 5 days ago
  • Should under the table nanny get fully paid vacations?

    Best answer: You are both breaking the law. You are supposed to withholding Social Security and Medicare taxes for her and matching it, and sending that in, and make her submit a W-4 and withhold federal and state income tax, send that in, and give her a W-2 next year. Beyond that, you don't have to giver her paid... show more
    Best answer: You are both breaking the law. You are supposed to withholding Social Security and Medicare taxes for her and matching it, and sending that in, and make her submit a W-4 and withhold federal and state income tax, send that in, and give her a W-2 next year.

    Beyond that, you don't have to giver her paid vacation. If you haven't accrued any paid time off yet on your job, why would she think she has? But there's no law that says you have to give her paid time off anyway.

    You need to end this relationship or do it properly.
    15 answers · 7 days ago
  • Do you have to pay taxes (IRS) on gold you panned and recycled (electronics) yourself?

    I have been unemployed for two years. Two years ago, I began gold panning, metal detecting and gold recycling (electronics) However, the gold nuggets which I'm able to acquire from doing all of these is very little and it is very time consuming. The "income" which I earn from doing these is about... show more
    I have been unemployed for two years. Two years ago, I began gold panning, metal detecting and gold recycling (electronics) However, the gold nuggets which I'm able to acquire from doing all of these is very little and it is very time consuming. The "income" which I earn from doing these is about $300-$500 per month. Let's say I made hardly about $21,000 per year for the last two years. My question was do I have to pay taxes to the IRS? Also, I'm interesting in knowing what is the minimum amount which I must sell to not pay taxes since doing what I do is very time consuming and maybe to continue is not feasible for me. What is the threshold (amount) of money which I must make in order to not pay taxes (to not have to declare)? Also, let's say I continue to make $21,000, what is the percentage of tax from my yearly income will the IRS require me to pay? Thank you.
    11 answers · 6 days ago
  • W2 questions?

    If I receive my last paycheck (pd every 2 weeks) on dec 20th 2018 but time goes in again on dec 26th (check not received till 2019). what will be on the 2018 W2? The amount on the last check or the week after when the pay period ends even though will not receive it until 2019?
    If I receive my last paycheck (pd every 2 weeks) on dec 20th 2018 but time goes in again on dec 26th (check not received till 2019). what will be on the 2018 W2? The amount on the last check or the week after when the pay period ends even though will not receive it until 2019?
    8 answers · 5 days ago
  • Home improvement?

    Do you have to take out a loan to do a home improvement to get a tax benefit? Or is it ok to pay the contractor in cash right from your savings?
    Do you have to take out a loan to do a home improvement to get a tax benefit? Or is it ok to pay the contractor in cash right from your savings?
    10 answers · 6 days ago
  • I claimed except from tax withholding at my first job. Was this a mistake?

    It says on my first paycheck that I have 0$ in withholding which now I realize means that on that paycheck(besides social security and Medicare tax), I didn’t get any other taxes taken out. I’m a 17 year old student who is working their first job. Is it bad to claim except and should I change this immediately. I... show more
    It says on my first paycheck that I have 0$ in withholding which now I realize means that on that paycheck(besides social security and Medicare tax), I didn’t get any other taxes taken out. I’m a 17 year old student who is working their first job. Is it bad to claim except and should I change this immediately. I was very confused when I claimed to be exempt and when I looked at my check that showed that much wasn’t taken out. I don’t want this to affect me later negativity.
    14 answers · 1 week ago