V.2015 ITS BALLING SEASON AGAIN.....TAXES!!! Where you doing yours?

How do I change my exemptions so not as much money isn't taken out every paycheck?

I'm only responsible for myself and live with my parents. Do I just write one for exemptions counting me?
 
kvsm23vs24 said:
How do I change my exemptions so not as much money isn't taken out every paycheck?

I'm only responsible for myself and live with my parents. Do I just write one for exemptions counting me?
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when you started working, you completed W4.
One for Fed and another for State withholdings,
Most employers allow your to adjust this unlimited amount of times
and the changes take effect usually within 2 pay cycles.
 
BoutMyMoney333 said:
I filed on Feb 1st using turbotax and got my state refund back in about 5 days but still havent received my federal yet. Tried to pull up my transcript and it said my info didnt match. I work overseas and im supposed to be getting a nice refund back. Turbotax said i should receive it before the 23rd. I wonder since its my first time getting this amount back if they may be looking deep into my return?
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You have to use the same exact address how it was typed out on your last year return
kvsm23vs24 said:
So what exact changes do I need to do to get more money weekly?
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You have to either go to human resource office and get the w4 form,same form you fille dout when hired and chage your exemtptions. I cant say to how many because i dont know if you have any kids or if your single with one job. If single with 1 job, change it to 2 to even out
 
Your W4 might be online too (all the jobs I ever had were online, after filling out the physical form upon just being hired). I would go to a coworker you cool wit they may know, or direct supervisor unless HR is easily accessible.
 
solefood229 said:
I just filed today and was accepted by the irs, how long is til people are usually approved?
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filed 4 days ago, and got my Fed money today :pimp: :pimp: I never got the approved email from the IRS or nothing, just happened to check my account an hour ago and I had a deposit
 
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Filed 8 days ago, getting my bread by the 19th. :smokin

Paid almost 13K in taxes my accountant worked some magic and got me 6400 back.

Next year I'm have a house, a kid, and I'll be married so I'm hoping to get 10K back or I'm going to increase my exemptions.

I'm tricking a little on car, paying off a student loan and that's it.
 
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filed today and I will definitely pay off my car and buy some coilovers for it 
nthat.gif
 
NyDunkhead said:
 
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Any idea on getting exempt from having to pay fee for not having health insurance? 

My dependent didn't have insurance in 2014 (I had no knowledge of this) so I'm being told I have to pay a fine of about $1000

Its basically 1% of my taxable income. Any ideas?  
 
SneakerPro said:
Filed 8 days ago, getting my bread by the 19th. :smokin

Paid almost 13K in taxes my accountant worked some magic and got me 6400 back.

Next year I'm have a house, a kid, and I'll be married so I'm hoping to get 10K back or I'm going to increase my exemptions.

I'm tricking a little on car, paying off a student loan and that's it.
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I need to learn this magic. Any idea what items he looked for?
 
I don't think I ever got my refund from the 2013 tax year. I had did an amendment and mailed my paper work to the IRS, but i haven't heard anything back since.
 
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Mark Antony said:
SneakerPro said:
Filed 8 days ago, getting my bread by the 19th. :smokin

Paid almost 13K in taxes my accountant worked some magic and got me 6400 back.

Next year I'm have a house, a kid, and I'll be married so I'm hoping to get 10K back or I'm going to increase my exemptions.

I'm tricking a little on car, paying off a student loan and that's it.
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I need to learn this magic. Any idea what items he looked for?
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Man I have no idea but whatever he's doing stood up to an audit 3 years ago.
 
SneakerPro said:
Filed 8 days ago, getting my bread by the 19th.
smokin.gif


Paid almost 13K in taxes my accountant worked some magic and got me 6400 back.

Next year I'm have a house, a kid, and I'll be married so I'm hoping to get 10K back or I'm going to increase my exemptions.

I'm tricking a little on car, paying off a student loan and that's it.
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This dont sound right playa hold on hold on

#1 Your suppose to have a  good account??

#2 How th eheck do you pay taxes and then get some back......LOL  That doesnt make sense

#3 if your accountant is good he would advise you to increase you exemptions

Something aint right. I call ducktales on this....

There is noooo way for you to not be married, no house, no kids to get anywhere near 6k back back.

its like saying you owe me 13k but I will give you 6k back

Get out of here.. i reject your deposit..Ducktales
 
That's makes sense, bonus and commission tend to be taxed at a higher bracket no matter what your withholding level is. Knowing that, your accountant probably didn't do anything extraordinary to get you that back.
 
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SneakerPro said:
Half my income is commission based so regardless of exceptions I'm getting hit for 35% because it's viewed as supplemental income.

Good try though ****boy
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yea but there is no such thing as I paid /owe13k and taxes and got $6400 back. what you need to say is I overpaid $6400

You need to adjust you exemptions. The money your getting back isnt free money , its money your loaning to the gov for the year. basically your overpaying and getting your own money back. You probably claming 0 fromthe looks.
 
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Superb said:
yea but there is no such thing as I paid /owe13k and taxes and got $6400 back. what you need to say is I overpaid $6400

You need to adjust you exemptions. The money your getting back isnt free money , its money your loaning to the gov for the year. basically your overpaying and getting your own money back. You probably claming 0 fromthe looks.
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The number of exemption withholdings don't matter on Bonus payments. It's the standard 25% Fed and for my Cali folks 6.6% so 31.6% just on withholdings then add FICA/Medicare of 7.65% plus SDI tax(CA) of 0.9 so the grand total taken out of your bonus checks = 40.15% :x
 
SneakerPro said:
Filed 8 days ago, getting my bread by the 19th. :smokin

Paid almost 13K in taxes my accountant worked some magic and got me 6400 back.

Next year I'm have a house, a kid, and I'll be married so I'm hoping to get 10K back or I'm going to increase my exemptions.

I'm tricking a little on car, paying off a student loan and that's it.
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Youre a rep,rsl, or rsm? :nerd:
How much did you make if you dont mind me asking.
You can pm if you dont wanna post it?
 
Your accountant is boosting up your deductions somewhere. I get it done all the time. Fed takes like 11K from me with 2 withholdings on my W-4. With standard deductions I would only be seeing around $1000 back at most (Single, no kids, no mortgage). They jack up the deductions to get me a return in the $4k-$5K range and pray we don't get audited.
 
^ Unless you owe a mortgage than can you explain how they just 'jack up' deductions? Non cash contribution deduction of $10,000? :lol: If your account gets selected, and they see -0- under mortgage interest, it's an obvious red flag.
 
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