/biz/ - Business & Finance

>>57721610
I'm 19 so my parents file them as I'm labeled as a dependent. They have to pay around $4k in dividends taxes kek

haven't made any income in a few years

Got 50k withheld in 2023 and have to pay and extra 7k. Meanwhile my neighborhood is full of homeless crackheads. Fuck the IRS.

>>57721610
taxes?

>>57721610
as someone whos nearly 40 and never filed a tax return in my life can someone explain this concept of "tax rebate" so you pay tax on something and then because you paid tax you get the same amount off your tax? why not just not pay tax in the first place?

>>57721794
>never filed
Are you in the US? You are most likely losing money if so.

>>57721610

Guys, look at airdrop, I just got 100 tokens

https://mantledao.top

>>57721797
explain it to me, how does paying tax make me have more money than i would if i dont pay any

>>57721812
If you're getting a paycheck from a company you are getting tax withheld. Usually they withhold too much, and then you get the rest back at the end of the year.

If you're independent then I guess you're not paying the taxes in the first place, so then what I said wouldn't apply, but you could be on the hook if the IRS notices.

Are you getting a paycheck or no?

>>57721610
im scared and dont know how to file, im in a high profile business deal right now and the IRS is watching, ill report as best I can but its nerve-racking

>>57721834
He’s trolling man, unless he’s been unemployed or being paid cash only his whole career

>>57721610
i owed $1k

ive been filing taxes but lied about my address and so I never got any checks, well anyway i called them and they said i have years of checks uncashed and they were nice enough to write me a new one

>>57721863
Sweet. You'll get interest on them too.

>>57721857
I see...

>>57721863
Why would you lie about your address kek
>>57721610
got $500 back, which is about as good as you can do without giving the government an interest free loan

>>57721842
Good. You should be afraid of the government.

>>57721610
Paid my taxes a month ago. Even paid taxes on my staking rewards from LINK. I do my best to pay all the taxes I'm aware of owing as once I make it this bullrun I don't want the IRS ruining it for me. I use turbo tax, coin ledger, and I purchase audit defense so I am covered if the IRS ever targets me. I need peace of mind when I make it.

>>57721610
I don't make enough income to file taxes, but I do so anyways. The standard deduction covers me. Mayhaps I shouldn't skip this year and continue filing

>>57721857
i used to get a paycheck a long time ago, tax would already be deducted from it and if they took too much i would get a cheque at the end of the year, since then ive been self employed yes collecting cash and bank transfers, and also now im working and getting paid in usdt and cashing out through my wifes account

>>57721876
>Why would you lie about your address kek
i thought that income and taxes were just balanced out by the government and my employer so I lied hoping to obfuscate my location from the government not realizing i was actually owed money

>>57721842
Taxes are pretty easy. If you're just doing a normal W2 job, there are websites where you can do it for free. If you have something complicated, contact a local CPA and they'll be enthusiastic to help you.

My company still hasn't sent me a W2 and I'm going to get like 1k back so yeah I'm a little pissed I can't do my taxes yet.

iam gonna owe about $3k. every single person in my social circle gets massive tax refunds and brag about. mostly shitfucks immigrants on welfare.

>>57721927
its extremely complicated unfortunately, its crypto and theres a lawsuit now, it would fly over most CPA's heads, I need a specialist.

>>57721938
so they paid tax and then they get some of it back? is that something to brag about?

>>57721610
Everything done and saved in FreeTaxUSA. Just procrastinating on hitting "submit".

I always put it off because crypto taxes are a fucking nightmare with tt and I don't have a taxable income anyway so none of it will matter against the standard deduction

Has anyone used payustaxes.com ?

They charge a 1.82% fee for a credit card, but my cc gives me 2% cashback lmao. Works out to about 3$ refund per $1000.

>>57721610
My docs didn't hit yet. I'm gonna owe at least $20k. My accountant does it for $180, my taxes are very gay it is worth every penny. Get yourself a CPA & tax attorney combo man and start relaxing for a mere couple hundo a year.
>>57721834
>withholding ever
Your employer ought to let you modify your withholding or claim exempt status. I've done this every year I ever paid the I*S. I withhold nothing, collect the returns on my goddamned money all year, then pay my bill at tax time. They can blow me. I don't mind owing money every year when the alternative is giving reptiles a free loan

>>57722018
sorry I mean payusatax.com and forgot pic

>>57721913
I reported you to the IRS btw.

>>57721794
I thought the IRS would hunt, imprison, and torture anyone who didn't pay taxes? That they always knew if you didn't pay? Was it all a lie?

>>57722024
I thought I couldn't claim exempt status because I have a pretty decent salary. I had to pay an extra 7k this year on top of 50k withheld. Or how can I find out?

>>57722028
what a bunch of losers using tax attorneys and cpa's and all this stupid jargon at wcdonalds we have a secret tax calculator which we use to estimate how many free money fries and get rich quick pizzas to throw in your order for free no need to worry about withholding ever we give you the returns on your goddamned money because unlike those lame asses we love seeing you win we don't want our customers giving reptiles or whatever a free loan

>57722066
don't @ me again

>>57721610
Started a job in autumn.
I'm getting 100% back.
All for crypto.

>>57721610
I already submitted it. I got $7k back. Lol @ people owing several thousand.

>>57722139
you're the one that gave the government a $7k loan and threw your opportunity cost in the trash, youngfren

>>57722050
I just do it anyways. Maybe you're disabled, maybe you have 11 billion kids, maybe something idk they can't ask and can't tell you no. You're telling the wage massa you're exempt, not the feds. They don't care as long as you pay as obligated. I even do it quarterly some years when I know the bill will be big. Bean counter never raised an eyebrow at this other than suggesting I do quarterly every year in case I go broke or something and can't make a balloon payment.

>>57721637
>Fuck the IRS.

We will gladly fuck you anon!

I don't remember if I claimed exemption or not when I waged honestly, but either way you can choose to withhold less or more, I put it at $0

>>57722154
It's withheld from my pay by my employer, so I don't really have a choice. 2k is free gibs because dependent.

>>57722139
You should adjust your withholdings. You want to be as close to $0 as possible. You could have been getting another $580 a month in your paycheck instead of the government getting a 7k interest free loan off of you.

>>57722139
you're the retard that gave the government a free 7k loan all year when you could have had it in your paychecks or your business all along.
why do you think this is a flex?

>>57722222
insane digits but anon you really need to fix your withholding then, stop loaning the IRS money for nothing
you could get an extra $270 in each biweekly check if you un-fuck your W4

What did you say?

>>57722242
Sure, I'll look into it.

>>57722222
Nice dubz

>>57722222
cool gets, dumb fucking taxie

>>57722267
You just have to pay it at another point, and if you gamble it all away on shitcoins, the IRS will be on your ass. I like the peace of mind.

>>57722190
interesting thanks, I'll ask

If tax season gets you excited, you are poor

>>57721946
I guarantee that if you google "crypto CPA [your zip code]" you'll find someone you can work with. Crypto isn't as uncommon as you think it is. It's not 2017 anymore.

>>57722035
i reported you to interpol. You better have your ducks in a row because you can expect a visit from a pair of Belgian detectives very soon and they wont be going easy on you.

>>57721610
I'm apart of some based and simultaneously gay program called Vine where I can get a ton of free shit from amazon to try out. Taxes are a nightmare right now. I can label it as a hobby and risk an audit or I can go the self-employment route and get fucked in the ass, but also write off shit without being shady and pay a little more. The problem is, I think I was supposed to label it as a hobby before. I make no money from this shit, I just get a bunch of overvalued chink shit.

>>57722051
its bollocks. tax is voluntary, its always been voluntary. dont live in fear

had to pay an extra 1000 bucks or so

Do you regards actually start taxes this early? I don't start that shit until mid April, half the docs still haven't been send out.

>>57722577
Please sir think of my village!

>>57722579
Qrd on why this is fucking up your taxes? If it's just the occasional free sample, I wouldn't mention or declare it at all.

>>57722606
A lot of people procrastinate until April, but there's no reason to not just get it done ASAP for peace of mind. It's nice to go about your day with nothing you have to do.

>>57722789
>but there's no reason to not just get it done ASAP for peace of mind.
Nah. That's only true if you know you are getting a refund. For us big boys with capital gains, we know the play is to delay giving $ to the gov as long as humanly possible. I'm not giving them an interest free loan any longer than I have to.

I have never paid any taxes lmao
paying taxes is for dumb poor NPC niggers.

>>57722554
I talked with a CPA and they said I need a tax attorney lol

Yeah I'm getting $145 back but I'll try to get closer to 0 next year

Do I need to file if my only income is from crypto and it was less than $13,850 (standard deduction)?

>>57721610
Taxes?

>>57721610
>Are you getting a nice refund this year?
no i owe over 2000 dollars.

>>57722945
Do you have a job? Legitimately curious

>>57723243
I owe 5000. What if I just didn't pay?

>>57723118
no, unless they changed it to be more gay about crypto, if your income is less than the standard deduction you dont have to file

>>57722222
wasted fucking digitz

>>57723548
For context, I was in the same situation for the past few as well but still filed. I'm assuming I'm still good to skip filing.

>>57723530
idk. i havent filed for a few years. im not doing the old taxes though, it is water under the bridge. gone forever. and if anyone has a problem with it, they can come around and find out.

>>57721610
when I was at the tax office today I overheard a jew talking to a tax consultant on how to commit medicaid fraud
also I'm getting a refund of roughly $4500, should I waste it all on vacation in europe or save it for my soon to be firstborn?

Well it's rare anymore but you can legally not file taxes if you get paid on a strictly cash or check basis and or don't work for a uh let's shall we say "legally bound" company. Short version; long as you don't get a W-2, bank accounts earn more than $10 in interest, or you own any stocks,retirement accounts (401k,IRA,etc) then your golden.

I just started my taxes. Wish me luck, anons.

I'm gonna be honest with you guys I'm basically just not going to start until April and then I'll probably start heavily drinking for a few days until the numbers stop stinging so badly and after I spent several dozen hours working for negative pay and having 200 pages of short term trades I'll probably contemplate killing myself but then I'll send the shitty file in and go back to only passively wishing this country would stop existing

>>57723740
lmfao that capital loss carryover, what happened?

>>57723751
Tax loss harvesting in 2018/2019 when the market wash crashing. I sold my BTC and ETH near the bottom and then bought it right back plus more lol
>pic related

>>57721610
I'm a W2 employee with a salary over 200k at a Fortune 100 company and I haven't paid federal taxes in 5 years. Let me restate that: I have not had any federal tax withholding from my paycheck in over 5 years and I have not filed my taxes during that time.

Nobody has contacted me. Nobody has come after me. Nobody has said a goddamn thing.

>>57723787
I have also made over $1 million in crypto since 2017 and have never once filed any taxes reporting it.

That means I also completely missed those Covid tax credits everyone else got and any credits since 2017 I may be due. I also accidentally had taxes withheld on a single paycheck back in 2020, taxes I will never see again, but I consider all this the price to pay for not withholding anything month to month or filing at all each year. I'm giving up my tax credits, but they're not getting anything from me either.

>>57721610

https://twitter.com/VitalikButerin/status/1761894652234416559

>>57723804
About the only thing you might miss out on is being able to claim Social Security and medicare. But the current state those programs are in frankly it's a coin toss if both will even still be a thing when your ready for it.

>>57723770
was that to offset some big gain you had that year?
or jsut to get 3000 per year indefinately?

>>57723831
>or jsut to get 3000 per year indefinately?
This until the "loss" is depleted or until the Democrats close the tax loophole

>>57723770
You can only use $3k a year of the carry over? Even if your gains exceed $6k for a year? Basically how does the loss carry over work?

>>57723879
It offsets profits every year until the loss amount is depleted. Take for example the fact that I bought and sold ROKU for $4000 profit last year. I will only get taxed on $1000 since I have a loss of $3000 carried over from being "down" $80k+ in 2019.

>>57723907
So it won’t even cover all the profit until depletion? Aka you have a year where you’ve made $200k. You can ONLY subtract $3k from it? Not the full 75k, even if your profits would cover all of the carry over

>>57723873
>loophole

>>57723770
incredibly based

>>57721610
Guys, check out the airdrop

https://goo.su/9z5gnCL

>>57721610

>>57723950
Yes but if you bought the asset back and have faith in it to go back up you basically have a 3k discount on taxes every year.

I'm good for 8 years of harvesting atm bros

>>57724548
>have a 3k discount on taxes every year.
this is a 3k discount on taxable income, not the taxes, right? so probably around 1k

still sweet

>>57721794
You're aware of the idea of people buying gift cards and then misplacing them, so the store basically got free money?

It wasn't a new idea.

The government has all the data to easily calculate your taxes and/or refund. You have 3 years to claim the money. If you owe them, or you ask for more money, they will easily recalculate and notify you of your error.

>>57721610
I don't have a job but I live in Colorado so I get refunded $800.

>>57723950
You can only claim a loss of $3000 from your income, but you can carry over any additional loses and deduct from all future gains. E.g. Year 1 have a loss of $10000 you deduct $3k from income and carry over $7k. Year two have a gain of $10k you subtract $7k loss carryover and so your taxable gain is $3k

>>57723879
That's for capital gains on a Schedule D. NOL works differently.

Imagine being a burger
Paying taxes to niggers and kikes in Ukraine
Lol LMFAO even

>>57721610
This thread and OPs attempt at insinuating tax evasion is against the law. I want to remind every anon to pay THEIR FUCKING TAXES. Do you not use roads? Did you not use public education? Pay your fucking taxes and support the country that fed and housed you.

Really wish all tax evaders were made public so the fire department can just let your house burn in an emergency. YES, THATS A TAX SERVICE. PAY TOUR FUCKING TAXES

ITS THE LAW.

>>57721610
i bought an EV so I should get 7500 back.
but i also made capital gains of about 20k so ill prob be taxed 7500 :/

>>57725153
thanks reddit for your input

>>57725153
Every tax goy's first argument is "muh roads" "muh schools" when most of that money comes from your relatively less impactful SALT. Legitimately half of the federal tax revenue goes directly to keeping boomers on life support and paying neetbux to retards.

>>57725153
Thanks for ur opinion mr retard however i determine how much tax i pay, not the government

>>57721610
previous employer never sent me my W2

>>57725153
I made this thread because I just finished doing my taxes but you're making me regret it.