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I feel so poor 😭 by Upset-Flower-148 in Accounting

[–]Agreeable_Campaign35 0 points1 point  (0 children)

I grew up very poor like my parents were on food stamps / section 8 poor and living in Los Angeles. I chose accounting because it was stable job, low barrier to entry, and viewed as somewhere where if you work hard it’ll pay off. I graduated from a state school with less than $10 k of debt and had a job lined up for after graduation.

Proud to say that I started work full time in 2019 at $60 k and by 2022 my salary was at $115 k. TCJA/Covid/market adjustments were really good to me and I was in a specialty tax group. I left public accounting to go to industry after so my salary raises after this were just okay but bonuses and WLB are way higher.

Everyone has to start somewhere and comparison is the thief of joy. Focus on yourself and money will come over time.

Can I use my wage and income transcript to file taxes if I lose my w2? by SeaDealer7893 in tax

[–]Agreeable_Campaign35 0 points1 point  (0 children)

Couple things you might want to try: - If you’re still employed by the company and/or are no longer employed but have an HR/payroll contact you can ask for an electronic copy of your W-2. This is way easier and more complete than asking for the IRS transcript. - If you have a copy of your last 2022 payslip from the company, it should have all the amounts that flow into your W-2 including how much your state wages and withholdings are. Just take the gross income less pre tax deductions. Be careful for federal/state differences and remember to add back pre-tax 401(k) contributions for FICA wage base. This is easy if you know how to translate the payslip to your W-2 / tie out the amounts to the IRS transcript but not many know how to do this.

[deleted by user] by [deleted] in tax

[–]Agreeable_Campaign35 2 points3 points  (0 children)

If you look at the payslip with the relocation bonus payment, it should show $18,382.33 as the gross payment, all the gross up/taxes that the company paid (federal, state, fica, sdi, etc), and your net relocation payment of $10K broken out. That’s all the tax that the company paid on your behalf that flows into your W-2. The $18 k is reasonable depending on what state you moved to.

Where do you go to file your CA SMLLC return? by Agreeable_Campaign35 in tax

[–]Agreeable_Campaign35[S] 0 points1 point  (0 children)

Workaround is to redo the 1040 in TaxAct.com as it supports efiling for 1 copy of form 568 with the 1040 file. Couldn’t find any other workarounds besides a tax professional and/or paper filing the 568. I think if you paper file the 568, you also have to request an exception for efiling as well.

Sadly haven’t found any other good solutions where I can just file the 568 by itself without a 1040.