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I have been collecting since the beginning of April and doing no taxes. I need every penny I can get at this point. I will have to deal with my taxes when the times comes. The now is more imporatant then the later at this point in my life and the $95 at no 10% pays some things at this point.
I have been collecting since the beginning of April and doing no taxes. I need every penny I can get at this point. I will have to deal with my taxes when the times comes. The now is more imporatant then the later at this point in my life and the $95 at no 10% pays some things at this point.
How I feel about the "taxes" also!
Besides the frustration with the fact that the irs keeps this money for a year, Interest Free, then "submits" a year-end tax refund;
The vise-versa of this for us that do not pay enough, or with-hold enough, is payment due coupled with Interest & penalty!!
I too have a mortgage; & the standard deduction is more than the interest deduction, on a relatively new mortgage!!
Which brings me to Wonder, as I would get the standard deduction anyways, regardless of a mortgage!
Tho I can claim "Head of Houshold" as my Only break; paid $24 in taxes, not a day sooner than April 15, as a political statement!
No Breaks for kids after the age of 16, guess in the PAST they had jobs; but they haven't updated that rule yet to the current & future economy, as most kids are living at home & jobless!!
Did them myself through turbotax, There's just no way around it being single. All I have to claim is standard deduction and Mortgage interest. I could see someone who has kids and can claim them not owing on Unemployment but for me that's just the way it works out. Sucks, as I though my mortgage would cover more of it but it just wasn't the case. You must not have had as much earned as me as well. Believe me I wasn't happy having to pay this with having no job.
Did them myself through turbotax, There's just no way around it being single. All I have to claim is standard deduction and Mortgage interest. I could see someone who has kids and can claim them not owing on Unemployment but for me that's just the way it works out. Sucks, as I though my mortgage would cover more of it but it just wasn't the case. You must not have had as much earned as me as well.
Yes.
& the mortgage interest does not help because the standard deduction is just enough to offset claiming any interest
At least that fact, that I would get the standard deduction anyway, & can't claim the interest anyway's for tax purposes, softens a tad the fact that I will loose my home.
Although I have a 17 yo, I did not get any credit for him, other than the Head of Household status; as I got knocked out earned income credit as unemployment is not "earned" income ....
& could not claim him for any credit, as they end at age of 16; as that irs status is outdated to when 16 yo had jobs; not with today economy of supporting them, & older children, as many familes are!!!
Last year I had taxes taken out, and I have this year too. But since I'm low on funds, I stopped it for a couple of months, but will start having it taken out again at the end of July.
Last year I had taxes taken out, and I have this year too. But since I'm low on funds, I stopped it for a couple of months, but will start having it taken out again at the end of July.
Or better yet, maybe I'll get a job.......
I would try to calculate, based on what your taxes owed were from last year.
In the past, I have had taxes taken out for 6 months of the year, then went to 0 with-held; so as to put the money in my pocket now, versus the irs holding the money interest free for the remainder of the year.
& I don't care about "refunds" at year end, I could have my own savings account!
I would try to calculate, based on what your taxes owed were from last year.
In the past, I have had taxes taken out for 6 months of the year, then went to 0 with-held; so as to put the money in my pocket now, versus the irs holding the money interest free for the remainder of the year.
& I don't care about "refunds" at year end, I could have my own savings account!
I didn't owe any taxes last year. In fact, I've never owed any taxes.
I didn't owe any taxes last year. In fact, I've never owed any taxes.
Ok, what I mean is: Did you get a refund? If so, that much was "over" the amount of tax you owe that was with-held --- in other words, short your "payment" (paid in amount) to amount of tax paid last year, or less your refund amount.
I didn't have the taxes taken out, and the 1st year, because I worked 6 months of it, I owed them money - not a lot, but some.
the 2nd year I got a small refund from a temp job --
But it is very individual -- I paid a lot of property taxes, some mortgage interest, head of household & some deductible education expenses, and the no tax on the 1st 2500 of UI benefits.
I agree with the other posters -- I figured I would deal with it when the time came. I needed $ in my pocket then, not to give a no interest loan to the IRS. If you could. you could save that 10% & get a few pennies interest in a savings account -
I bet on my finding a job & being able to pay what was owed if anything. Didn't work out the 1st year! But that $ paid at least a mortgage payment - - -
I didn't have the taxes taken out, and the 1st year, because I worked 6 months of it, I owed them money - not a lot, but some.
the 2nd year I got a small refund from a temp job --
But it is very individual -- I paid a lot of property taxes, some mortgage interest, head of household & some deductible education expenses, and the no tax on the 1st 2500 of UI benefits.
I agree with the other posters -- I figured I would deal with it when the time came. I needed $ in my pocket then, not to give a no interest loan to the IRS. If you could. you could save that 10% & get a few pennies interest in a savings account -
I bet on my finding a job & being able to pay what was owed if anything. Didn't work out the 1st year! But that $ paid at least a mortgage payment - - -
Exactly!!! Good Post!!
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You must not have had as much earned as me as well. Believe me I wasn't happy having to pay this with having no job.
