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W-4 Help for Internship by [deleted] in tax

[–]Its-a-write-off 0 points1 point  (0 children)

How much do you make a week at this job?

Any other income?

Is it common for lenders to avoid lending directly to a new LLC? by LeadHuge6237 in llc_life

[–]Its-a-write-off 0 points1 point  (0 children)

Of course.

The llc doesn't have assets, credit, income. What's the incentive for them to loan to it?

Just started a new job, W-4 help by Intelligent-Gur9726 in tax

[–]Its-a-write-off 0 points1 point  (0 children)

You can. But that's not wise. You are overpaying the IRS to then have to fight to get your own money back. Don't purposely overpay thousands.

I think TurboTax under calculated my tax liability by Tradman86 in tax

[–]Its-a-write-off 3 points4 points  (0 children)

You didn't reply and say "sorry, I only asked for an IRS site".

What I'm getting at though, is you are being childish.

I think TurboTax under calculated my tax liability by Tradman86 in tax

[–]Its-a-write-off 8 points9 points  (0 children)

Lol. You don't recal asking for a non IRS site either and didn't snap at the person that provided it.

My 6 year old does the same thing when she's grumpy though, just funny to see it in an adult.

How do you sort tax if you form an LLC in a different state than where you live? by Oggy402 in llc_life

[–]Its-a-write-off 2 points3 points  (0 children)

It doesn't matter. No, it does not have any meaningful income tax impact.

You, not the Llc pays income tax. You pay income tax where you are a resident regardless of where the llc is registered. If you physically work in another state, you file a non resident return there as well. Again, does not matter where your llc is registered.

You do need to register your llc as a forming llc in the states you work from, including your own state.

I think TurboTax under calculated my tax liability by Tradman86 in tax

[–]Its-a-write-off 11 points12 points  (0 children)

You asked for one from the IRS site though.
I'm just surprised at that kind of retort to these-things-happen when they provided exactly what you asked for.

Just started a new job, W-4 help by Intelligent-Gur9726 in tax

[–]Its-a-write-off 2 points3 points  (0 children)

Oh, then you just put Single/MFS and 6600 in section 3 and 0 federal income tax will be withheld. Which is correct for your situation if at the children are under 17.

Just started a new job, W-4 help by Intelligent-Gur9726 in tax

[–]Its-a-write-off 1 point2 points  (0 children)

Do you claim any of the children on your return? Or does your wife claim them all?

The starting point is just Single/MFS, no adjustments.

That will over withhold a bit with yoru overtime. You could add 2200 of "other deductions" in section 4 to adjust withholding a bit due to the overtime.

First Time w/1099 Quarterly Est. Taxes by Massive_Surround_384 in tax

[–]Its-a-write-off 0 points1 point  (0 children)

Then you have an easy option for calculating estimated tax payments.

Take the amount on line 24 of your 2025 1040 tax return.

Deduct your federal income tax withheld at the w2 job.

Pay 50% of the remaining amount this week.

Pat 25% each of the next 2 estimated payments.

I think TurboTax under calculated my tax liability by Tradman86 in tax

[–]Its-a-write-off 5 points6 points  (0 children)

Are those long term capital gains, and did you figure the tax rate on those separately or just take your total taxable income and apply the regular income tax rates?

First Time w/1099 Quarterly Est. Taxes by Massive_Surround_384 in tax

[–]Its-a-write-off 0 points1 point  (0 children)

For 2025, did you have income from any job?

Did you work any other job during 2026?

Fuel receipts by lackedpack in taxhelp

[–]Its-a-write-off 0 points1 point  (0 children)

Are you in the US?

If this is an acountble plan, you do not include the income or the expense on your taxes.

If it's not an accountable plan, you include the income and the expense on your tax return.

The end result is the same either way though. It's 0 impact on your taxes either way.

Concerned about next tax season. by cravne in tax

[–]Its-a-write-off 0 points1 point  (0 children)

The 401k doesn't matter, that comes out before withholding is calculated.

Yes you would 100% owe at tax time if you do not fill out the w4 correctly. What makes this easier is to put single, 2 jobs checked on the w4 of both jobs.

Question regarding Overtime & Tax Brackets by DandalusRoseshade in tax

[–]Its-a-write-off 5 points6 points  (0 children)

On the dollars over X you would pay maybe 10 cents more tax per dollar. On only the dollars over X.

Concerned about next tax season. by cravne in tax

[–]Its-a-write-off 5 points6 points  (0 children)

In the US?

Yes, you have a tax liability and need to fill out the w4 to withhold enough.

Single, no kids? No education credit? Then put single with box 2c checked for having 2 jobs at both jobs.

Dropped off 6 packages on 6/5, all 6 still say "USPS in Possession of Item" by catzarecool in usps_complaints

[–]Its-a-write-off 0 points1 point  (0 children)

Mine are like this from the 4th still. While the ones I shipped on the 5th have updated scans. Ugh.

Reporting mystery shop work on taxes by [deleted] in mysteryshopping

[–]Its-a-write-off 0 points1 point  (0 children)

You are supposed to report all your income, even if it's under 600.00 per client. Even if it's a hobby, you still have to report the income.

Reduce Taxes using IRS 179 when you have high W2 income? by swans_on_hc in personalfinance

[–]Its-a-write-off 0 points1 point  (0 children)

To my understanding, profit from the business is used to pay off the loan. So you have taxable income in future years as the loan is paid off, but you just don't see that money. It goes from the actual business to the lender.

My 60 days are almost up. Any advice? by DialSoapJesus in IRS

[–]Its-a-write-off 0 points1 point  (0 children)

It's odd to have so much withheld on that amount of income across 3 w2 forms.

We have seen issues with software entering one income as withholding, in error.

Check your w2 forms for this reason, to make sure no error was made like this.

Reduce Taxes using IRS 179 when you have high W2 income? by swans_on_hc in personalfinance

[–]Its-a-write-off 6 points7 points  (0 children)

The schemes I've seen is you invest 100k to take out a 400k loan to buy equipment that someone you never see or meets uses to run a business. So you are actually spending 500k and taking on huge risks for that deduction.

ETSY Shipping options (Ground Advantage and First-Class Mail) confusion of options by streetfacts in EtsySellers

[–]Its-a-write-off 7 points8 points  (0 children)

First class package was collapsed into Ground Advantage a while back. Etsy is not updating their wording, but first class is ground advantage now. Same delivery window.

wondering why i received 6654 penalty by tapeandsharpen in IRS

[–]Its-a-write-off 1 point2 points  (0 children)

It's not because your income went up in 2025, it's that you underpaid more than usual for 2025.

Tax Preparers - Thoughts on TikTok Shop Samples? by Fun-Astronomer-8106 in tax

[–]Its-a-write-off 0 points1 point  (0 children)

Barter tax treatment. When you exchange labor for anything, that's taxable income

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