Ouch, ouch, ouch

[KenB]

Just filed this year's income tax return.

Ouch!

[slimslob]

Re: Ouch, ouch, ouch

Yeah. I need to get that done today.

[Tonerbomb]

Re: Ouch, ouch, ouch

yeah I'm working on mine also, Those Feds are toooo greedy!!!!!!!!!!!!!!!!!!!!!!!1

[allan]

Re: Ouch, ouch, ouch

In the states does the TAX get deducted from your salaries monthly?
Do you get returns on travailing?

[KenB]

Re: Ouch, ouch, ouch

In the states does the TAX get deducted from your salaries monthly?
Do you get returns on travailing?

The taxes are deducted from each paycheck, whether weekly, bi-weekly, or however.

Any under or over payments for the past year are adjusted in April.

Everyone files a Federal and the appropriate return for their State, and most also need to file for their city of residence.

Dont know what you mean about "travelling".

[allan]

Re: Ouch, ouch, ouch

If you get a travel allowance and drive your own car for business purposes.

[KenB]

Re: Ouch, ouch, ouch

If you get a travel allowance and drive your own car for business purposes.

Depending on how much you get per mile, you can be liable for tax on it if it's too high, and possibly claim the difference if it's too low. Certain conditions must apply to be able to deduct the difference if you are low.

I think the current maximum allowable amount is 50 cents per mile. This is set federally, by the IRS.

Please note that this is always a VERY HOT topic, and car allowances always start some very heated discussions.

[fixthecopier]

Re: Ouch, ouch, ouch

What you can deduct varies from state to federal taxes. State taxes vary from state to state.

[KenB]

Re: Ouch, ouch, ouch

I didn't have enough deductions to itemize this year, so I lost out on being able to deduct my mileage difference.

[dan7777]

Re: Ouch, ouch, ouch

Just filed this year's income tax return.

Ouch!

Obamacare killed me. My wife started a new job so the reported income changed. $2300 money back to me went to the irs and then some. It was a lot better before Obamacare. Hope they put someone in who kills that. I will most likely retire before I see that happen though. But I am happy to still have a job at 64. I do feel your pain!

[copyman]

Re: Ouch, ouch, ouch

Business auto miles can be written off at 57 cents per mile. Just make sure you can prove the mileage was for business not personal. Also meals & entertainment deductions are 50%.

I make quarterly payments all year long and still have to pay !!!!!

[Hopper]

Re: Ouch, ouch, ouch

The taxes are deducted from each paycheck, whether weekly, bi-weekly, or however.

Any under or over payments for the past year are adjusted in April.

Everyone files a Federal and the appropriate return for their State, and most also need to file for their city of residence.

Dont know what you mean about "travelling".

This is how they have trained us into submission. If you got all the money up front and then had to cut them a check you would PULL YOUR HAIR OUT!

[KenB]

Re: Ouch, ouch, ouch

For the first time since I can remember, I didn't have enough to itemize, and had to take the standard deduction.

Missed it by about $1500.

So much for getting any work expenses back.

[cscce]

Re: Ouch, ouch, ouch

Depending on how much you get per mile, you can be liable for tax on it if it's too high, and possibly claim the difference if it's too low. Certain conditions must apply to be able to deduct the difference if you are low.

I think the current maximum allowable amount is 50 cents per mile. This is set federally, by the IRS.

Please note that this is always a VERY HOT topic, and car allowances always start some very heated discussions.

Actually the mileage allowance (like the rest of our 70,000+ pages of tax law) is set by Congress. The IRS is just the executioner.

[ZOOTECH]

Re: Ouch, ouch, ouch

... The IRS is just the executioner.

What an appropriate use of terminology.