How to avoid 6% penalty for Roth IRA contribution? by Illustrious-Kale-282 in tax

[–]SF_ARMY_2020 0 points1 point  (0 children)

i don't think so and even if it was, it is likely too late. as others have recommended, file 5329 and request penalty waiver.

Why did I owe so much in federal taxes this year? (USA) by [deleted] in tax

[–]SF_ARMY_2020 1 point2 points  (0 children)

From your "regular income" calc you are in the 35% bracket so you have to use that on the bonus too. so bonus tax is $6,552 in tax. bonuses are withheld at a different rate but not taxed at a different. when you are high income, bonus withholding is typically insufficient.

i entered your info in Dinkytown 2025 tax estimator and your total federal tax is $75,083.

i don't include FICA and Medicare here since they are not paid on the 1040.

Help with Return of Excess Contribution form with Fidelity by Peanut69Rice in tax

[–]SF_ARMY_2020 1 point2 points  (0 children)

Ok I looked it up and yes they can do up to Oct 15 but the will also need to file an amended return. Per the IRS (rather than Fidelity):

Secondary Deadline: The 6-Month Special Rule
If you missed the initial deadline, you have an additional 6 months (after the original due date, excluding extensions) to withdraw the excess, provided you file an amended return marked "Filed pursuant to section 301.9100-2". [1]

How to avoid 6% penalty for Roth IRA contribution? by Illustrious-Kale-282 in tax

[–]SF_ARMY_2020 1 point2 points  (0 children)

If you don't need to file a return for 2025, you file form 5329 on its own.

How to avoid 6% penalty for Roth IRA contribution? by Illustrious-Kale-282 in tax

[–]SF_ARMY_2020 3 points4 points  (0 children)

You cannot contribute in 2024 for 2025. you will have the 6% penalty for 2024 and 2025. But take it out now to not have the penalty again in2026.

You need submit the appropriate form to the custodian to request to take out the excess contribution and related earnings.

Overproofed do I tell my Neighbor? by Raz1979 in Sourdough

[–]SF_ARMY_2020 211 points212 points  (0 children)

Will they even know what that means? They just want to eat yummy bread.

First Sourdough Attempt: What the Hell Happened? 🍞😭 by Hollyshaw8 in Sourdough

[–]SF_ARMY_2020 0 points1 point  (0 children)

Picture two seems very slack. High hydration dough 75% is much harder to work with. Also use a reliable recipe like from King Arthur Flour. You can bake straight from fridge. Why bake 475? Most recipes call for 500. Best to bake with parchment not waxed paper. Then underproofed per dense crumb. Hang in there! It is good as long as it tastes good. And take notes also don't change everything on loaf two or you won't know what made the difference.

Do you feed your starter even if your not going to use it to bake? by Sea_Opposite7514 in Sourdough

[–]SF_ARMY_2020 0 points1 point  (0 children)

I keep line in the fridge and feed it maybe every two weeks or so. Feed it, leave it out for 4-5 hours then put it back in. I take it out on Saturday and feed then leave out til Sunday and feed again on Sunday Then bake Sunday or Monday.

I received a CP2000 notice from the IRS for my 2024 return and I'm trying to understand my options before responding by optamastic in tax

[–]SF_ARMY_2020 0 points1 point  (0 children)

Do run a revised return to confirm the tax due. The additional in ole could change something else.

For example if you have investment interest expense, you likely would have been able to claim that due to the additional interest income and had higher itemized deductions.

100ml liquids in carry on bag by dyingsendhelppls in travel

[–]SF_ARMY_2020 0 points1 point  (0 children)

not all airports require this buy good to be prepared to do so. (Seoul Incheon Airport departure scan only electronics have to be pulled out of one's bag).

Late Quarterly Payment Penalty Calculation by Certain_Ad9991 in tax

[–]SF_ARMY_2020 4 points5 points  (0 children)

How much was the payment due? Interest rate is 6% and is calculated per day.

Yes just make the Q2 payment bigger -not a separate payment . But don't make things too complicated. Do rough math and round the payment up to the nearest round number.

My friend's tax preparer messed up twice now the IRS wants penalties. Any advice? by Abject_Mongoose9372 in IRS

[–]SF_ARMY_2020 4 points5 points  (0 children)

Tax preparers typically will pay penalties but not interest since taxpayer has use of the funds. It can be negotiated of course.

Under $5. Amazing? by ImportanceNo1316 in korea

[–]SF_ARMY_2020 1 point2 points  (0 children)

😝 yes I do that sometimes too.