2017 Tax Season and Return Thread Vol. Tax Podcast Mixed In?

TurboTax :pimp: all done. Took me about an hour just because I didn't have all the info by my side that I thought I would need. Luckily I was able to reach out to my accountant I used last year and they provided me with the info. I thought they'd be stingy but I guess they were willing because my mom is still going to use them.
 
Last edited:
Question almost done with my races through turbo. My grandma asked me to claim her she doesn't make much from social security. How does that work she doesn't live with me would I be able to claim her? Any help appreciated.
 
SickR8R said:
Question almost done with my races through turbo. My grandma asked me to claim her she doesn't make much from social security. How does that work she doesn't live with me would I be able to claim her? Any help appreciated.
Click to expand...
Grandparents don't have to live with you but there are other criterias such as how much $ u support her and what's her income. Go through these questions and see if she qualifies.

https://apps.irs.gov/app/IPAR/inves...eens_DEPLanding_xint$global$global?user=guest
 
carbon16 said:
I just received a 1099-int also but I filed a couple days ago. Whats a notice of supplemental tax?
Click to expand...

It's an assessment of your return. The payer who issued the 1099-INT form would have sent one to you and the IRS. If the IRS notices that you did not claim it in your return, they will assess your return and let you know the outcome.
 
If I donated *> $6300 to charity last year, it's in my best interest to itemize the deduction, correct?

Less than $6300 and you should go with the standard deduction, right?




...
 
Waiting on my return like mannnnnnn. Never took this long before.
 
SuperAntigen said:
If I donated *> $6300 to charity last year, it's in my best interest to itemize the deduction, correct?

Less than $6300 and you should go with the standard deduction, right?




...
Click to expand...


Your state and local taxes that were withheld from your check are also part of that equation.
 
Got my tax refund last week. I've been using TurboTax for years and it's never let me down. 
nthat.gif
 
Y'all do know that TurboTax hands it off to the IRS / State Gov that day.. once it's "Accepted" by them, TurboTax's job / responsibility of speed is over.

I still haven't gotten my refund.. filed almost two weeks ago. I got my State last Wednesday but no Federal yet. :rolleyes Go figure they take their sweet time when they owe me money but are so quick to tell me I owe them.
 
Does income impact how much you are getting back when it comes to kids??

My wife and I had twins last year and everybody has been telling us to expect a large return bc of that but Im just wondering if our tax bracket would impact how much we will get back, specifically as it relates to the children.

i changed my withholding a month before they were born and my wife didnt work for like 4 months.
 
Ace Rawstein said:
Does income impact how much you are getting back when it comes to kids??

My wife and I had twins last year and everybody has been telling us to expect a large return bc of that but Im just wondering if our tax bracket would impact how much we will get back, specifically as it relates to the children.

i changed my withholding a month before they were born and my wife didnt work for like 4 months.
Click to expand...
https://turbotax.intuit.com/tax-too...ements-for-the-Child-Tax-Credit/INF15610.html
 
spizike231 said:
Y'all do know that TurboTax hands it off to the IRS / State Gov that day.. once it's "Accepted" by them, TurboTax's job / responsibility of speed is over.

I still haven't gotten my refund.. filed almost two weeks ago. I got my State last Wednesday but no Federal yet.
eyes.gif
Go figure they take their sweet time when they owe me money but are so quick to tell me I owe them.
Click to expand...
Lol people clearly aren't aware of this in here.

These tax companies are just sending the IRS a filled out pdf, literally. 
 
To my tax wizards.

If I claim blind is my deduction automatically applied or do I have to do some type of itemizing(is that even the right term?) (Via turbotax basic edition)

Or should I be doing something else to get the deduction applied?

I have 20/200 vision in 1 eye and declared blind, so I'm not trying to do anything slick haha
 
BeezyGotSole said:
spizike231 said:
Y'all do know that TurboTax hands it off to the IRS / State Gov that day.. once it's "Accepted" by them, TurboTax's job / responsibility of speed is over.


I still haven't gotten my refund.. filed almost two weeks ago. I got my State last Wednesday but no Federal yet. :rolleyes Go figure they take their sweet time when they owe me money but are so quick to tell me I owe them.
Click to expand...
Lol people clearly aren't aware of this in here.

These tax companies are just sending the IRS a filled out pdf, literally. 
Click to expand...

I knew that part going in. Its simplicity is what led me to using TT this year, especially because my forms are so basic; I felt going back to my accountant was pointless.

My federal and state were both accepted, now it's just the waiting game. I'm in no rush for it so whenever it comes, it comes.
 
GetBack said:
 
How will Uber earnings impact my return this year?
Click to expand...
Someone correct me if I'm wrong but I believe Uber gives you a 1099, so they don't tax your earnings throughout the year as they pay you out, but when tax time comes you have to pay taxes on all of your earnings. 
 
zunigrp said:
To my tax wizards.

If I claim blind is my deduction automatically applied or do I have to do some type of itemizing(is that even the right term?) (Via turbotax basic edition)

Or should I be doing something else to get the deduction applied?

I have 20/200 vision in 1 eye and declared blind, so I'm not trying to do anything slick haha
Click to expand...

TT is user friendly in that it asks simple interview questions. You are given a standard deduction and an additional deduction once you check the box regarding blindness and any subsequent questions relating to the matter.

MIKE HONCHO said:
Someone correct me if I'm wrong but I believe Uber gives you a 1099, so they don't tax your earnings throughout the year as they pay you out, but when tax time comes you have to pay taxes on all of your earnings. 
Click to expand...

This is correct. However, there is a $600 threshold. Meaning, if you didn't make $600 for the calendar year, they might not send you one.
 
Last edited:
MIKE HONCHO said:
 
Someone correct me if I'm wrong but I believe Uber gives you a 1099, so they don't tax your earnings throughout the year as they pay you out, but when tax time comes you have to pay taxes on all of your earnings. 
Click to expand...
Expect to pay taxes on your earnings throughout the year. You can offset it a bit with mileage, repairs, gas, insurance etc. that you spent Ubering.
 
MIKE HONCHO said:
Someone correct me if I'm wrong but I believe Uber gives you a 1099, so they don't tax your earnings throughout the year as they pay you out, but when tax time comes you have to pay taxes on all of your earnings. 
Click to expand...

Make quarterly estimated payments based of what you earned or you will be hit with an underpayment penalty upon filing the returns. There are exceptions though so read the instructions.

https://www.irs.gov/pub/irs-pdf/f1040es.pdf

I usually tell independent contractors, save at least a minimum of 25-30% of earnings for income taxes to Fed/State and for self employment taxes which is 15.3% of your net profit. Remember to write off depreciation on your vehicle since that's probably the biggest deduction you will have.
 
Last edited:
You must log in or register to reply here.

The ultimate sneaker enthusiast community.

NikeTalk was created as a way of giving back to both the sneaker enthusiast community and to the greater global community of which we are all a part.

NikeTalk is NOT affiliated with Nike Inc. in any way, shape, or form. All opinions expressed herein do not necessarily reflect those of Nike, Inc.

© 1999-2024 NikeTalk.com

Share this page

Back
Top Bottom