Free online tax filing??? Anyone know a good one?
- Thread starter jen5680
- Start date
- Dec 4, 2010
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Turbo Tax is has worked the best. My accountant doesn't like it. Less billable hours.
We use it for personal and some Business. Real easy to use.
Plus you can write off the program 100% as tax preperation.
Also it's no race to file. IRS will catch up and the one who has legal custody willl be allowed to claim dependants.
Who ever is not legal for claiming will have to pay back any refunds with interest.
just my.02
We use it for personal and some Business. Real easy to use.
Plus you can write off the program 100% as tax preperation.
Also it's no race to file. IRS will catch up and the one who has legal custody willl be allowed to claim dependants.
Who ever is not legal for claiming will have to pay back any refunds with interest.
just my.02
- Apr 4, 2010
- 4,174
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Quote:
I think I remember that SS withholding is going down this year, can't remember what down to. I thought it was 4.?%
Found it. 4.2% (for 2011). Woo!
For 2011 filing's right....that is great! I had not heard that so thank you for that info.
I think I remember that SS withholding is going down this year, can't remember what down to. I thought it was 4.?%
Found it. 4.2% (for 2011). Woo!
For 2011 filing's right....that is great! I had not heard that so thank you for that info.
I'm worried about that tax holiday thing. The extra 2% will be nice, but it will hurt when it comes time to stop it. For that reason I think they wont stop it. Then the SS program will run dry in 15 years instead of 29. I'm going to put the 2% into our 401k.
Does anyone know if self employed people get to take the 2% break on both halves of the SS deduction. pay 8.4% instead of 12.4% like they did last year.
My DD was visiting over Christmas. She works as contract labor in DC. She mentioned that they don't pull taxes out of her check because she is contract. She didn't know she was supposed to file quarterly and had to pay 2x as much SS because she's paying the employer share too. I have a feeling she is going to be in trouble in April. Tried to tell her but she's 22 and knows everything. She'll get another one of those life lessons that we all try to teach our children in advance but they have to experience it themselves before they believe you.
Does anyone know if self employed people get to take the 2% break on both halves of the SS deduction. pay 8.4% instead of 12.4% like they did last year.
My DD was visiting over Christmas. She works as contract labor in DC. She mentioned that they don't pull taxes out of her check because she is contract. She didn't know she was supposed to file quarterly and had to pay 2x as much SS because she's paying the employer share too. I have a feeling she is going to be in trouble in April. Tried to tell her but she's 22 and knows everything. She'll get another one of those life lessons that we all try to teach our children in advance but they have to experience it themselves before they believe you.
Got his check stub today..still screwy but it MAY be that work to pay kind of thing someone mentioned earlier.
So far this month, fed inc tax was 2.26, fed medicare was 5.63, fed social 16.29, IL state tax 11.64, PPO medical 68.14, Dental 7.79 and spouse surcharge (for insurance since I am on Medicare) 21.00 (one time fee per year). So that was one paycheck worth of these expenses. That is why I do not understand that low of taxes.
YTD deductions would be 231.46
So far this month, fed inc tax was 2.26, fed medicare was 5.63, fed social 16.29, IL state tax 11.64, PPO medical 68.14, Dental 7.79 and spouse surcharge (for insurance since I am on Medicare) 21.00 (one time fee per year). So that was one paycheck worth of these expenses. That is why I do not understand that low of taxes.
YTD deductions would be 231.46
- Apr 4, 2010
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Very true about the life lesson....I feel for you it is hard when they won't listen. Especially when they have another parent telling them the opposite or the other parent just don't know anything about anything.
So your daughter is considered and "independent contractor" I was always told to withhold 20% every check and put it away in a savings. Last I heard independent contractors pay 15.3 % that would be her share and her employers share.
This was in 2004-2005 I heard all this. I was in the same position at that time.
Quote:
I am not sure I understand what you are asking here?
Very true about the life lesson....I feel for you it is hard when they won't listen. Especially when they have another parent telling them the opposite or the other parent just don't know anything about anything.
So your daughter is considered and "independent contractor" I was always told to withhold 20% every check and put it away in a savings. Last I heard independent contractors pay 15.3 % that would be her share and her employers share.
This was in 2004-2005 I heard all this. I was in the same position at that time.
Quote:
I am not sure I understand what you are asking here?
- Apr 4, 2010
- 4,174
- 13
- 251
Quote:
On one check stub your saying the employer took out 2.26 for federal with holdings right? Are you saying $2.26?, Medicare $5.63 and Social Security $16.29 and etc. I need more info...pm me it if you don't want to post it on here for everyone to see....I can double check the medicare and social security if you tell me the gross income for that paycheck.
Thank Obhama for the low with holdings....that was part of his way of giving everyone back some stimulus money but instead of the $250 at once it will be over the year....since they won't tax you as much on each pay check.
Make sure you claim zero on any w4 you fill out, if you pay in too much you will get it back, it is like a savings, otherwise if you owe more less you have to pay then at the time you file or you will get back the difference. You can also have them take out more to be saved even if getting unemployment since people who receive unemployment have to pay taxes on it.
On one check stub your saying the employer took out 2.26 for federal with holdings right? Are you saying $2.26?, Medicare $5.63 and Social Security $16.29 and etc. I need more info...pm me it if you don't want to post it on here for everyone to see....I can double check the medicare and social security if you tell me the gross income for that paycheck.
Thank Obhama for the low with holdings....that was part of his way of giving everyone back some stimulus money but instead of the $250 at once it will be over the year....since they won't tax you as much on each pay check.
Make sure you claim zero on any w4 you fill out, if you pay in too much you will get it back, it is like a savings, otherwise if you owe more less you have to pay then at the time you file or you will get back the difference. You can also have them take out more to be saved even if getting unemployment since people who receive unemployment have to pay taxes on it.
Last year I used the H&R Block free version when I went to the IRS website. I was eligible for it and probably am again. BUT, I'll probably be using the free H&R easy return service this year!
Quote:
Doing backwards math, I get a taxable of ~$387, assuming weekly, withholding of 3, and they are following 2011 schedules for everything, his check w/h should be about $2 based on the easy chart, or on the percentage chart (if I can do math this early, don't hold me to it) is 387-213-152= 22x0.1= $2.20. The 213 is the withholding allowance ($71.15x3).
Of course, this is all assuming that it's weekly, and taking a stab at the taxable amount. Not sure if the employer does his medical pre or post tax, if pre, then gross should be ~$462.
It's confusing until you get it LOL!
2011 Publication 15
http://www.irs.gov/pub/irs-pdf/p15.pdf
Doing backwards math, I get a taxable of ~$387, assuming weekly, withholding of 3, and they are following 2011 schedules for everything, his check w/h should be about $2 based on the easy chart, or on the percentage chart (if I can do math this early, don't hold me to it) is 387-213-152= 22x0.1= $2.20. The 213 is the withholding allowance ($71.15x3).
Of course, this is all assuming that it's weekly, and taking a stab at the taxable amount. Not sure if the employer does his medical pre or post tax, if pre, then gross should be ~$462.
It's confusing until you get it LOL!
2011 Publication 15
http://www.irs.gov/pub/irs-pdf/p15.pdf
Quote:
If she has a legal document that states she gets the deductions this year, he can file all he wants, they will audit both returns when they show up with duplicate info. Then who ever has filed incorrectly will get fined. Trying to "beat him" to it won't majically stop him from filing it wrong. The system doesn't have that kind of checks and balances. It will just cause them both to be auditted.
As for online software, I always use turbotax. It's easy and ive been using it for several years now.
If she has a legal document that states she gets the deductions this year, he can file all he wants, they will audit both returns when they show up with duplicate info. Then who ever has filed incorrectly will get fined. Trying to "beat him" to it won't majically stop him from filing it wrong. The system doesn't have that kind of checks and balances. It will just cause them both to be auditted.
As for online software, I always use turbotax. It's easy and ive been using it for several years now.
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