2019 Tax Thread

FPrice

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There absolutely is a way to manipulate your situation with the IRS. None of my income is taxable. I pay zero in taxes but since I do have a W2 the .gov ends up owing me about 6k each year on average. It's a beautiful thing.
So you taxpayers: Hurry up and get off to work, would ya? I need people to fund my refund!!!!!!
Google earned income tax credit
Methinks that CCW is one of those people who take advantage of a welfare payment disguised as a tax credit.

"The United States federal earned income tax credit or earned income credit (EITC or EIC) is a refundable tax credit for low to moderate income working individuals and couples, particularly those with children. The amount of EITC benefit depends on a recipient's income and number of children."
 

Broccoli Iglesias

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Google earned income tax credit
I learned something new.

But dude, dont go walking around telling everyone how awesome you are because you found a way to not pay taxes. You didnt find a way to not pay taxes.

Due to your income, you just happen to qualify for a tax credit that might be equal to, or sometimes greater, than what you paid in income.
 

Broccoli Iglesias

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Methinks that CCW is one of those people who take advantage of a welfare payment disguised as a tax credit.

"The United States federal earned income tax credit or earned income credit (EITC or EIC) is a refundable tax credit for low to moderate income working individuals and couples, particularly those with children. The amount of EITC benefit depends on a recipient's income and number of children."
It could totally be done. For example, If you are a barber, you could claim you only make a few $K and not claim all your tips, as long as they are cash.

While I think that is great, it isn't a "legal" way of not paying taxes.

It's funny how all these "I fought the system and won, I dont pay taxes" arguments always fall apart.
 

PennyPincher

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Correct W2 employees can no longer write off home office or vehicle expenses. not sure about a contractor.

Sucks because I can just kiss a chunk of my vehicle allowance away. I drive 25-30k a year, so it would have been nice to get some of that back.
while you may not be able to write off your vehicle expenses, you also have less expense.
I'm not sure why they did away with vehicle expenses and home office deduction but my guess would be that both were being abused. For home office expenses to be deductible those things you are claiming were supposed to be 100% for business use OR you needed to keep written records for every expense so you could apportion them. Same with vehicle expenses. I know when I had these expenses my accountant would tell me which expenses I could be "aggressive" with and NOT throw up an audit flag versus what I should be more conservative. And I had written logs. I'm a bit anal that way. As an example: since internet access prices varied so widely across the country he didn't feel it necessary to apportion the expense between business and personal use and would just deduct 100%. Meanwhile I had taken a class on making sure all my vehicle miles were considered business use. As a real estate agent, that's really easy. He recommended a less than 100% deduction (don't remember how much) because doing so could cause an audit as it's an area that is more closely scrutinized.
 

FPrice

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while you may not be able to write off your vehicle expenses, you also have less expense.
I'm not sure why they did away with vehicle expenses and home office deduction but my guess would be that both were being abused. For home office expenses to be deductible those things you are claiming were supposed to be 100% for business use OR you needed to keep written records for every expense so you could apportion them. Same with vehicle expenses. I know when I had these expenses my accountant would tell me which expenses I could be "aggressive" with and NOT throw up an audit flag versus what I should be more conservative. And I had written logs. I'm a bit anal that way. As an example: since internet access prices varied so widely across the country he didn't feel it necessary to apportion the expense between business and personal use and would just deduct 100%. Meanwhile I had taken a class on making sure all my vehicle miles were considered business use. As a real estate agent, that's really easy. He recommended a less than 100% deduction (don't remember how much) because doing so could cause an audit as it's an area that is more closely scrutinized.
One tool I use to track mileage is to use an Excel spreadsheet which lists the days I traveled for business, a short description of where I went and what I did, and the total millage for that trip.
 

Broccoli Iglesias

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One tool I use to track mileage is to use an Excel spreadsheet which lists the days I traveled for business, a short description of where I went and what I did, and the total millage for that trip.
That's what I did when I was 1099 several years ago. I used the Google maps route for the mileage.
 
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I plugged a Bouncie GPS tracker in my car. $8/month. records where I've been. easy to extract data.good for tracking usage or where the kids have gone.
 

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Anyone else (Us Old People) notice that they brought back the pre-Tump 1040 design for those of us too stubborn to try to learn the 1040 plus Schedule 1, 2, and 3? Makes me happy because last year I had to do the "post card" sized 1040 and attach all 3 schedules (5 page tax return) for what was previously a 2 page 1040. Now I can do the 2 page 1040-SR instead! :) The tax calculations are post Trump but it's so much easier doing the 2 page return.

1581290535552.png
 

GM-GUY

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I just ball parked my taxes (1099's wont be ready from Etrade till Feb 15th and still need the Morgan Stanley one also) Getting back ~$5000 depending on what they say.

IT'S NOT ME

My wife's old place kept getting sold/bought/transferred and merged and not one of the damn fool accounting weasels would forward how much they withheld for Social Security. This year the overage was ~$3400 just on SSI.
 

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Will see how we do Thursday, Married claiming zero single all year. We will file jointly, I own some income property that unfortunately I can’t show a loss on as they do quite well. First year married we will itemize- hopefully we can take a good chunk back. We will adjust the tax situation to get a smaller refund next year. I just don’t want to owe 10k this year.
 

FPrice

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My son experienced an interesting issue with his W-2. His received his paper copy and we began to fill out his return. But before he had to enter his information I suggested that he see if he could download his W-2. It was online and he was able to populate the appropriate entries automatically.

I suggested that he double-check the entries with the paper copy. Everything was exact.

UNTIL we got to the bottom and the line "Local Taxes". Well we do not have any but there were two lines of figures. Both on the low 5 digits, showing taxes withheld in the appropriate spaces. One was labelled "MA Health" and the other "Family".

Whiskey Tango Foxtrot? He is going to call HR tomorrow (he works night shift) to see what was going on. But in the meantime, has anyone else experienced anything like this?
 

CCW

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So... you're on welfare basically. Why am I not surprised.

Enjoy your redistributed wealth.
You see, some people can survive in the dreaded private sector. Some people don’t need someone telling them what to do, where to go, when to go there, what to wear, what paperwork to fill out, when to fill it out, when you’re allowed to take a break and eat and etc. every single day. Some people don’t need their union masters shaking down the public in order to survive. Unfortunately I’m not able to avoid property taxes. However, I am considering starting a religion so there is hope for that as well.
Some people are not mindless drones suffering from small man syndrome. Some people have a marketable skill. Some people are able to use those skills in a way that benefits them more than the average mindless drone who can’t survive without being guided every step of the way in life as they go through the motions daily to collect a paycheck. So it’s not my fault that you can’t cut it in life on your own without your union masters and someone commanding you every step of the way. There are better ways to get it done. Trust me.
Please hurry up and get to work next week. Some OT might be nice. Someone has to fund my refund. So, in effect, as you can see you are my bitch. So get thee off to work, bitch
 

Spartan65

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You see, some people can survive in the dreaded private sector. Some people don’t need someone telling them what to do, where to go, when to go there, what to wear, what paperwork to fill out, when to fill it out, when you’re allowed to take a break and eat and etc. every single day. Some people don’t need their union masters shaking down the public in order to survive. Unfortunately I’m not able to avoid property taxes. However, I am considering starting a religion so there is hope for that as well.
Some people are not mindless drones suffering from small man syndrome. Some people have a marketable skill. Some people are able to use those skills in a way that benefits them more than the average mindless drone who can’t survive without being guided every step of the way in life as they go through the motions daily to collect a paycheck. So it’s not my fault that you can’t cut it in life on your own without your union masters and someone commanding you every step of the way. There are better ways to get it done. Trust me.
Please hurry up and get to work next week. Some OT might be nice. Someone has to fund my refund. So, in effect, as you can see you are my bitch. So get thee off to work, bitch
I agree anyone on this forum that is in a Union is a mindless clueless drone. Openly funding Mike Bloomberg and radical anti gun leftists. Don’t give me a sob story either. No one cares you are part of the problem. Your labor is paying to destroy our rights.
 

CCW

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It could totally be done. For example, If you are a barber, you could claim you only make a few $K and not claim all your tips, as long as they are cash.

While I think that is great, it isn't a "legal" way of not paying taxes.

It's funny how all these "I fought the system and won, I dont pay taxes" arguments always fall apart.

I’m not arguing. There’s nothing to fall apart because there is no argument. I don’t pay taxes. The government pays me. I can’t wait to file I’ll be collecting about 6-7k from uncle this year.
 

CCW

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Methinks that CCW is one of those people who take advantage of a welfare payment disguised as a tax credit.

"The United States federal earned income tax credit or earned income credit (EITC or EIC) is a refundable tax credit for low to moderate income working individuals and couples, particularly those with children. The amount of EITC benefit depends on a recipient's income and number of children."
Me thinks a lot of people are jealous and butt hurt because they are not able to do the same and rather than receiving money they have to pay money. Certainly sucks to be them.
 

Roland Deschain

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You see, some people can survive in the dreaded private sector. Some people don’t need someone telling them what to do, where to go, when to go there, what to wear, what paperwork to fill out, when to fill it out, when you’re allowed to take a break and eat and etc. every single day. Some people don’t need their union masters shaking down the public in order to survive. Unfortunately I’m not able to avoid property taxes. However, I am considering starting a religion so there is hope for that as well.
Some people are not mindless drones suffering from small man syndrome. Some people have a marketable skill. Some people are able to use those skills in a way that benefits them more than the average mindless drone who can’t survive without being guided every step of the way in life as they go through the motions daily to collect a paycheck. So it’s not my fault that you can’t cut it in life on your own without your union masters and someone commanding you every step of the way. There are better ways to get it done. Trust me.
Please hurry up and get to work next week. Some OT might be nice. Someone has to fund my refund. So, in effect, as you can see you are my bitch. So get thee off to work, bitch
Lol... sorry you're mad that you're on welfare and stealing from your fellow citizens.
 

Roland Deschain

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I’m sorry that you’re a mindless drone with small man syndrome. I’m going to be furious when that $7000 check arrives 😂😂😂
Not sure how I have small man syndrome at 6' 220, but everyone here knows that you're a complete f***ing clown now. Go back to posting anti cop threads from behind a keyboard like a bitch. Maybe Derek can invite you to a barn party and you can tell all of us how funny it is that you steal money.

Get f***ed 😘
 

FPrice

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You see, some people can survive in the dreaded private sector. Some people don’t need someone telling them what to do, where to go, when to go there, what to wear, what paperwork to fill out, when to fill it out, when you’re allowed to take a break and eat and etc. every single day. Some people don’t need their union masters shaking down the public in order to survive. Unfortunately I’m not able to avoid property taxes. However, I am considering starting a religion so there is hope for that as well.
Some people are not mindless drones suffering from small man syndrome. Some people have a marketable skill. Some people are able to use those skills in a way that benefits them more than the average mindless drone who can’t survive without being guided every step of the way in life as they go through the motions daily to collect a paycheck. So it’s not my fault that you can’t cut it in life on your own without your union masters and someone commanding you every step of the way. There are better ways to get it done. Trust me.
Please hurry up and get to work next week. Some OT might be nice. Someone has to fund my refund. So, in effect, as you can see you are my bitch. So get thee off to work, bitch
That is one of the biggest piles of Bravo Sierra (thank you GGL!) that I have seen on this forum in a long time.

But, it does expose one of the Bernie Bro's in our midst.

Now you have gone too far, that is a terrible insult.

The leech you have pictured actually serves a useful purpose in this life.
 
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soloman02

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I was going to get ~$500 back (I claim 2 on my W4, I'm single with no kids) but then I got a 1099c and that will knock it down to like $350. However I just read that I can claim insolvency and make the 1099c debt not taxable. Since I have substantial student loans (I more than triple the interest deduction limit) I am technically "insolvent" since I have no real assets and a f*** ton of debt.

Turbo Tax online doesn't let me fill out the form to claim insolvency (Form 982 IIRC) so I gotta figure out how to do it. And I am not sure if there are any consequences of claiming it. I got a 1099c last year as well. I did not know about the Form 982 so I'm thinking of filing an amended return to get more back.


Also, the IRS totally f***ed up the form W-4 for 2020. It is completely different. So much so that they got rid of exemptions entirely. Claiming 0 is a thing of the past. I am trying to take advantage of a first time home buyer tax credit which allows me to reduce my witholding. The form is f***ed for this though. They make it super easy to add additional witholding but not easy to lower it. Worse, the payroll processors that companies use are all sorts of f***ed up. The one my company uses literally cannot lower my witholding with the new form. We currently have a support ticket open with them over it.
 

mwalsh9152

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I was going to get ~$500 back (I claim 2 on my W4, I'm single with no kids) but then I got a 1099c and that will knock it down to like $350. However I just read that I can claim insolvency and make the 1099c debt not taxable. Since I have substantial student loans (I more than triple the interest deduction limit) I am technically "insolvent" since I have no real assets and a f*** ton of debt.

Turbo Tax online doesn't let me fill out the form to claim insolvency (Form 982 IIRC) so I gotta figure out how to do it. And I am not sure if there are any consequences of claiming it. I got a 1099c last year as well. I did not know about the Form 982 so I'm thinking of filing an amended return to get more back.


Also, the IRS totally f***ed up the form W-4 for 2020. It is completely different. So much so that they got rid of exemptions entirely. Claiming 0 is a thing of the past. I am trying to take advantage of a first time home buyer tax credit which allows me to reduce my witholding. The form is f***ed for this though. They make it super easy to add additional witholding but not easy to lower it. Worse, the payroll processors that companies use are all sorts of f***ed up. The one my company uses literally cannot lower my witholding with the new form. We currently have a support ticket open with them over it.
I looked into adjusting my w4 last week, and when I finished their online calculator, it gave me some bizarre number. Not knowing what the hell it meant, I just walked away from it.
 

CCW

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Not sure how I have small man syndrome at 6' 220, but everyone here knows that you're a complete f***ing clown now. Go back to posting anti cop threads from behind a keyboard like a bitch. Maybe Derek can invite you to a barn party and you can tell all of us how funny it is that you steal money.

Get f***ed 😘

Small man syndrome has nothing to do with physical size. An example of somebody suffering some small man syndrome would be somebody who:

A. Brags about their physical stature online

or

B: Challenges a complete stranger to a fight because they’re upset over words that have been posted on an online forum.

I happen to be employed by an e-commerce business with a blog and a shopify drop ship store that is owned by my elderly parents. A comparable business model would be Black Rifle Coffee Company in that a portion of the profits are donated to charities that would fall in line with people who are in our target audience. Everything is automated. We have blog writers in our employ to do all the writing and posting. The work that I do is roughly 4 hours a week and the difficulty level is pretty much on par with posting on this forum. Login, take a look around, punch a few keystrokes, and we’re done. Coincidentally, the salary I receive on my W-2 allows me to qualify for such benefits as the earned income tax credit. Also, my son who lives with me just happens to be employed by the company as well. Also, by coincidence, his salary qualifies him for the same. After all the business expenses of hosting, marketing, employee salaries, company vehicles and etc. it turns out that unfortunately very little gets donated to charity.
Oh and by the way, if you are not self-employed, work for a company that does not offer health insurance, and show enough income on a W-2 to qualify for the EITC....
Guess what else you would qualify for? If you guessed Mass Health you would be correct.
Unfortunately last year I had a chronic knee injury flareup. That resulted in about 15 to 20 doctors visits, a surgery at Beth Israel with an overnight stay, and about 40K in bills that I’ll never see. Having a health insurance policy with zero monthly premium and zero dollar co-pay is not a bad thing. From what I understand most people are paying about $1000 a month for health insurance premiums with heavy co-pays. So being in the situation I’m in where nothing is taxable and the government pays me money in a tax refund...and with free health insurance I have the cash flow of somebody who is showing maybe three times what I do on a W-2. If not more. So you see, when people like yourself who fancy themselves as the local version of the working class hero call me a clown I laugh in their faces. You may think I’m stealing money but fortunately the Commonwealth of Massachusetts and the Internal Revenue Service disagree with you. As you’re working today I’ll be out there enjoying my day. So please think of me as you’re sitting there parked on the side of the road bored off your ass working to pay for my services. And by the way, thank you
😂😂🤣🤣😂😂🤣🤣
 

FPrice

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I believe what we have here is an example of "internet small man syndrome". Bragging about what he does as if he is better than anyone else.


Small man syndrome has nothing to do with physical size. An example of somebody suffering some small man syndrome would be somebody who:

A. Brags about their physical stature online

or

B: Challenges a complete stranger to a fight because they’re upset over words that have been posted on an online forum.

I happen to be employed by an e-commerce business with a blog and a shopify drop ship store that is owned by my elderly parents. A comparable business model would be Black Rifle Coffee Company in that a portion of the profits are donated to charities that would fall in line with people who are in our target audience. Everything is automated. We have blog writers in our employ to do all the writing and posting. The work that I do is roughly 4 hours a week and the difficulty level is pretty much on par with posting on this forum. Login, take a look around, punch a few keystrokes, and we’re done. Coincidentally, the salary I receive on my W-2 allows me to qualify for such benefits as the earned income tax credit. Also, my son who lives with me just happens to be employed by the company as well. Also, by coincidence, his salary qualifies him for the same. After all the business expenses of hosting, marketing, employee salaries, company vehicles and etc. it turns out that unfortunately very little gets donated to charity.
Oh and by the way, if you are not self-employed, work for a company that does not offer health insurance, and show enough income on a W-2 to qualify for the EITC....
Guess what else you would qualify for? If you guessed Mass Health you would be correct.
Unfortunately last year I had a chronic knee injury flareup. That resulted in about 15 to 20 doctors visits, a surgery at Beth Israel with an overnight stay, and about 40K in bills that I’ll never see. Having a health insurance policy with zero monthly premium and zero dollar co-pay is not a bad thing. From what I understand most people are paying about $1000 a month for health insurance premiums with heavy co-pays. So being in the situation I’m in where nothing is taxable and the government pays me money in a tax refund...and with free health insurance I have the cash flow of somebody who is showing maybe three times what I do on a W-2. If not more. So you see, when people like yourself who fancy themselves as the local version of the working class hero call me a clown I laugh in their faces. You may think I’m stealing money but fortunately the Commonwealth of Massachusetts and the Internal Revenue Service disagree with you. As you’re working today I’ll be out there enjoying my day. So please think of me as you’re sitting there parked on the side of the road bored off your ass working to pay for my services. And by the way, thank you
😂😂🤣🤣😂😂🤣🤣
 

Roland Deschain

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Small man syndrome has nothing to do with physical size. An example of somebody suffering some small man syndrome would be somebody who:

A. Brags about their physical stature online

or

B: Challenges a complete stranger to a fight because they’re upset over words that have been posted on an online forum.

I happen to be employed by an e-commerce business with a blog and a shopify drop ship store that is owned by my elderly parents. A comparable business model would be Black Rifle Coffee Company in that a portion of the profits are donated to charities that would fall in line with people who are in our target audience. Everything is automated. We have blog writers in our employ to do all the writing and posting. The work that I do is roughly 4 hours a week and the difficulty level is pretty much on par with posting on this forum. Login, take a look around, punch a few keystrokes, and we’re done. Coincidentally, the salary I receive on my W-2 allows me to qualify for such benefits as the earned income tax credit. Also, my son who lives with me just happens to be employed by the company as well. Also, by coincidence, his salary qualifies him for the same. After all the business expenses of hosting, marketing, employee salaries, company vehicles and etc. it turns out that unfortunately very little gets donated to charity.
Oh and by the way, if you are not self-employed, work for a company that does not offer health insurance, and show enough income on a W-2 to qualify for the EITC....
Guess what else you would qualify for? If you guessed Mass Health you would be correct.
Unfortunately last year I had a chronic knee injury flareup. That resulted in about 15 to 20 doctors visits, a surgery at Beth Israel with an overnight stay, and about 40K in bills that I’ll never see. Having a health insurance policy with zero monthly premium and zero dollar co-pay is not a bad thing. From what I understand most people are paying about $1000 a month for health insurance premiums with heavy co-pays. So being in the situation I’m in where nothing is taxable and the government pays me money in a tax refund...and with free health insurance I have the cash flow of somebody who is showing maybe three times what I do on a W-2. If not more. So you see, when people like yourself who fancy themselves as the local version of the working class hero call me a clown I laugh in their faces. You may think I’m stealing money but fortunately the Commonwealth of Massachusetts and the Internal Revenue Service disagree with you. As you’re working today I’ll be out there enjoying my day. So please think of me as you’re sitting there parked on the side of the road bored off your ass working to pay for my services. And by the way, thank you
😂😂🤣🤣😂😂🤣🤣
Cool story welfare queen.
 

Roland Deschain

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I looked into adjusting my w4 last week, and when I finished their online calculator, it gave me some bizarre number. Not knowing what the hell it meant, I just walked away from it.
I think I used the same kind of thing and got confused as well. I made incremental adjustments this year and cut my return in half. I'll just keep doing that until I get closer
 

CCW

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I believe what we have here is an example of "internet small man syndrome". Bragging about what he does as if he is better than anyone else.


It’s pretty hilarious watching the freedom loving patriots posting on this form about how taxation is theft and then seeing the reaction when they learn about somebody who has beaten uncle Sam at his own game. People usually call me welfare queen etc. but that’s out of pure jealousy because they’re the ones that have to go punch in and work today while my time is my own. Oh and so is my money since I don’t pay taxes. Have a good day. Make sure you work hard
 
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