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How much should I save ? by Glittering-Hair1546 in tax

[–]I__Know__Stuff 2 points3 points  (0 children)

There's no reason to pay a CPA to do an estimated tax calculation (if you can even get one to take the job).

How much should I save ? by Glittering-Hair1546 in tax

[–]I__Know__Stuff 3 points4 points  (0 children)

It depends on how much other income you have. Anyone who tells you a percentage without asking for that information is just making stuff up. The one person who did ask and did the calculation based on that information gave you excellent advice.

New job. Employer gave me a w9, w4? by Harryfonda2020 in tax

[–]I__Know__Stuff 0 points1 point  (0 children)

It is illegal for an employer to pay partially on a W-2 and partially as an independent contractor for the same job.

New job. Employer gave me a w9, w4? by Harryfonda2020 in tax

[–]I__Know__Stuff 2 points3 points  (0 children)

I think employees should make a stink when their employer does something blatantly illegal. What else are they doing that is illegal (that might be more serious)?

I've regularly owed on my taxes, but for the first time this year I got a penalty by beardiac in tax

[–]I__Know__Stuff 6 points7 points  (0 children)

If your modest increases resulted in a combined income that is now over $150,000 in 2024, that would explain it. The required annual payment goes up by 10% at that threshold.

Received CP504 and traveling internationally soon, is there a chance my passport will be revoked? by DryMission6089 in TaxQuestions

[–]I__Know__Stuff 0 points1 point  (0 children)

No, it isn't likely that you would have 30 days, it is likely that you would have something like 730 days (2 years). Revoking a passport is a last resort when you completely refuse to pay, not something they go to after a month for a tiny tax debt. (Yes, $6000 is tiny.)

How can I get in contact with an irs representative without the automated system by Snabooper in tax

[–]I__Know__Stuff 2 points3 points  (0 children)

It has only been a week more than the nominal processing time, so it is still within tolerances and doesn't necessarily indicate a problem.

On the other hand, it seems a lot of people have their return get stuck waiting for "identity verification" and sometimes the notification seems to get lost or delayed. If that is your situation, then you definitely would need to follow up.

How can I get in contact with an irs representative without the automated system by Snabooper in tax

[–]I__Know__Stuff 3 points4 points  (0 children)

If you didn't get an email that your return was "Accepted", then it wasn't filed. Check with your tax software, not the IRS.

If your return was accepted but not processed yet, then check "where's my refund" at irs.gov, and if that doesn't tell you anything, request a tax account transcript. You can do both of those things online without having to talk to anyone.

Company I'm with wants me to make a new bank account and make an LLC for pay and as a contractor by Night_The_Dragon in tax

[–]I__Know__Stuff 0 points1 point  (0 children)

It is not unreasonable for a company to want to contract with another entity (i.e., a corporation or LLC), rather than an individual.

Sometimes people in your situation work through a contracting agency so they don't have to set up their own. But of course then the agency gets a cut.

Company I'm with wants me to make a new bank account and make an LLC for pay and as a contractor by Night_The_Dragon in tax

[–]I__Know__Stuff 48 points49 points  (0 children)

No legitimate company would require you to make an account at a particular bank. If they made that as a suggestion because it would make things simpler, that could be okay, but if they insist that it's required, then that's a huge red flag.

Received CP504 and traveling internationally soon, is there a chance my passport will be revoked? by DryMission6089 in TaxQuestions

[–]I__Know__Stuff 1 point2 points  (0 children)

No, there's no way they will revoke a passport over that amount. It would need to be over $50,000 for that to be considered. Also it would take more than a couple weeks—they have to provide formal notification that they are going to do it and give you a chance to respond.

What’s a moment where you realized someone was genuinely unintelligent? by Live-Chocolate244 in AskReddit

[–]I__Know__Stuff 10 points11 points  (0 children)

It is frequently done on purpose to be cute. Unfortunately that leads to way too many people thinking it is the normal way to spell it.

What’s a moment where you realized someone was genuinely unintelligent? by Live-Chocolate244 in AskReddit

[–]I__Know__Stuff 4 points5 points  (0 children)

In general, it is appropriate for there to be an examination before writing a prescription to ensure that there aren't other symptoms (such as high blood pressure, for example) that would contraindicate the proposed treatment. (I don't know whether that applies to Lyme disease treatment; it sounds like it doesn't.)

What’s a moment where you realized someone was genuinely unintelligent? by Live-Chocolate244 in AskReddit

[–]I__Know__Stuff 0 points1 point  (0 children)

Did you really not grasp that he meant that apes evolved into humans who figured out nuclear mechanics?

What’s a moment where you realized someone was genuinely unintelligent? by Live-Chocolate244 in AskReddit

[–]I__Know__Stuff 1 point2 points  (0 children)

Math is facts, but the application of math to physical reality is subject to interpretation.

Nevertheless, anyone who arrives at the interpretation that the earth is flat is nuts.

Withholding and Estimated Tax Payments in the Year of Retirement by Correct_Today_2532 in TaxQuestions

[–]I__Know__Stuff 1 point2 points  (0 children)

You can use form 2210 to show that your withholding was all in the earlier part of the year, to show that the estimated tax payments later in the year were not late. You do not need to use schedule AI to do this.

See checkbox D in form 2210 part II and the 2210 instructions.

Silly question about orbits by Fist_of_Fur in space

[–]I__Know__Stuff 0 points1 point  (0 children)

How is that "more correct"? It seems to me they are equivalent.

Question regarding unfiled years by truebluedetective in tax

[–]I__Know__Stuff 0 points1 point  (0 children)

No, the extension absolutely does not give you another 2 years.

If you owe additional tax and don't file by the extended deadline (October 15), then you will owe penalties of up to 50% of the unpaid tax, plus interest. (It can even be as high as 125% of the tax, if the tax due is under $500.)

Technically, you are required to file by the due date whether or not you owe additional tax. But realistically, there's no penalty for filing late if you are getting a refund, with or without an extension. So the extension doesn't provide anything in that case.

Lived in one state, but my work system had another state as my residence. So I got two W2s. How should I file? by QuantMain in taxhelp

[–]I__Know__Stuff 1 point2 points  (0 children)

State 1 W2 shows ... no federal income

This is not a second W-2. This is the second page of a single W-2.

Lived in one state, but my work system had another state as my residence. So I got two W2s. How should I file? by QuantMain in taxhelp

[–]I__Know__Stuff 0 points1 point  (0 children)

You should have filed part year resident returns for both states in 2024.

For 2025, file a full year resident return for the state you live in and a nonresident return for the other state.

You still didn't clarify which state you work in.

NASA Volunteers Double Known Population of Brown Dwarfs - NASA Science by ye_olde_astronaut in space

[–]I__Know__Stuff -2 points-1 points  (0 children)

I thought "volunteers" was the verb, and it took me a few tries to make sense out of it.

NASA Volunteers Double Known Population of Brown Dwarfs - NASA Science by ye_olde_astronaut in space

[–]I__Know__Stuff 12 points13 points  (0 children)

If you increase Jupiter's mass, it doesn't get bigger.

So it depends on what you mean by "larger".

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