I just did my taxes

[DMBstandUP1984]

Originally Posted by GSUdawg521

I will say a prayer for you

It will be the difference between a deluxe or moderate resort at wdw this fall

[neumdogg]

Originally Posted by DMBstandUP1984

The line for us not to owe seems to be $400K combined income

Quick math we are at like $397 soooo gonna be close

I like the flex here. Unashamed to talk about income.

[but1well]

Originally Posted by DMBstandUP1984

The line for us not to owe seems to be $400K combined income

Quick math we are at like $397 soooo gonna be close

Wow you are seriously wealthy

[scrock25]

Originally Posted by neumdogg

I like the flex here. Unashamed to talk about income.

[GSUdawg521]

DMBSU is the 1%

[drop2d]

Originally Posted by DMBstandUP1984

The line for us not to owe seems to be $400K combined income

Quick math we are at like $397 soooo gonna be close

Originally Posted by but1well

Wow you are seriously wealthy

Originally Posted by neumdogg

I like the flex here. Unashamed to talk about income.

Originally Posted by GSUdawg521

DMBSU is the 1%

For where he lives (in MA), that’s on the lower side of middle class. Rich where I live though.

[JimBeam41]

Originally Posted by GSUdawg521

Filed! 2 days earlier than last year's personal record

Also after 7+ years with TurboTax, I went with FreeTaxUSA this year. Heard it was completely free, other than paying the state $15 filing fee. Turbo Tax last year, for pretty much my same situation, was $78. Part of TT's allure is how intuitive and helpful it is, and they've already got all my info, so I'm kind of a captive audience. But FTUSA made it very easy -- let me upload my return from last year and it imported most of our info, and was nearly as helpful as TT usually is. Once I got through the whole thing, I went through all the same motions on TT just to compare and came up with the exact same refund/owe numbers.

I've been using FreeTaxUSA for a few years now after a co-worker reccomended it to me, and yes, i agree, it's great.

[ToySoldier#34]

Originally Posted by drop2d

For where he lives (in MA), that’s on the lower side of middle class. Rich where I live though.

This is extremely incorrect though

[drop2d]

Originally Posted by ToySoldier#34

This is extremely incorrect though

It was also extremely jokey.

[TheLastStop123]

$400k per year puts you in the top 3%

[ToySoldier#34]

Originally Posted by drop2d

It was also extremely jokey.

Ah missed it, my bad, carry on ...

[DMBstandUP1984]

It’s mostly my wife

[drop2d]

Originally Posted by DMBstandUP1984

It’s mostly my wife

You’re claiming all those ‘gifts’ from Marcus?

[TheLastStop123]

very funny timing:

The $400K conundrum: Why America’s urban rich don’t feel that way

https://www.washingtonpost.com/people/megan-mcardle/

[MOWJO8185]

Man, crazy people have filed already, I never sit on it once I have everything but I won't even have all the documentation I need until mid-February.

[DMBstandUP1984]

Originally Posted by TheLastStop123

very funny timing:

The $400K conundrum: Why America’s urban rich don’t feel that way

https://www.washingtonpost.com/people/megan-mcardle/

We feel comfortableish

Feels like we should have more money in the bank but I like to spend

[but1well]

Originally Posted by TheLastStop123

very funny timing:

The $400K conundrum: Why America’s urban rich don’t feel that way

https://www.washingtonpost.com/people/megan-mcardle/

You cannot read if you're not a WP subscriber

[neumdogg]

Originally Posted by but1well

You cannot read if you're not a WP subscriber

You should make $400k so you can afford a subscription.

[but1well]

Originally Posted by neumdogg

You should make $400k so you can afford a subscription.

I feel like I make good money but I don't want another subscription

[DMBstandUP1984]

Originally Posted by drop2d

You’re claiming all those ‘gifts’ from Marcus?

I claim him as a dependent

[Benny003]

Originally Posted by MOWJO8185

Man, crazy people have filed already, I never sit on it once I have everything but I won't even have all the documentation I need until mid-February.

Don't feel bad, I can never file until October because I don't get my documents until September (business K-1's), so I have to file for an extension every year.

[drop2d]

Originally Posted by DMBstandUP1984

I claim him as a dependent

[TypicalBilly14]

If I, for example have let's say $95,000 in reportable income for 2022 and only paid as an example $5,000 in Federal taxes, that means I'm probably going to owe $4,500 in Federal taxes, correct?

Also, reportable income and taxable income are one-in-the-same, correct?

Thanks.

[but1well]

Originally Posted by TypicalBilly14

If I, for example have let's say $95,000 in reportable income for 2022 and only paid as an example $5,000 in Federal taxes, that means I'm probably going to owe $4,500 in Federal taxes, correct?

Also, reportable income and taxable income are one-in-the-same, correct?

Thanks.

1) Add up your taxable income
2) substract the standard deduction that applies to you
3) Pull up the 2022 IRS tax tables and look up the your taxable income minus the deduction and that's how much you should have paid.

If it's more than what you paid, you owe. If the number is less than what you paid you'll get a refund. Really just pay the $30 for tax software if you aren't completely sure what you're doing.

[crashintonickdm]

IRS changed 2022 thresholds last minute in December for 600+ dollars received. So why did I get a 1099?

[DMBstandUP1984]

Owe 316 federal

Refund of 500 something, State

[smokew11]

bring back the expanded child tax credit

[JRS1386]

Feds owe me $600 I owe state $700 fuck

[cry_minarets458]

my 2024 taxes are going to be a mess come filing time next year with all my life changes this year, at least 2023's filing will be smooth.

[cry_minarets458]

Originally Posted by cry_minarets458

my 2024 taxes are going to be a mess come filing time next year with all my life changes this year, at least 2023's filing will be smooth.

I just tried using the tax calculator on the irs' website and boy howdy, it says i would be getting a 45k refund back lmao. i dont think that's right and i definitely didn't input numbers incorrectly. guess i will have to wait for another check or two from my second job to see how my taxes there are leveling out. it's always easier with the end of year documents but along the way is always hairy when you have variable income. woof