Tax Season

[MrKennethTKangaroo]

Agree w ulf. The IRS gives zero effs about where you live once you get to your new home...for the IRS, its not about the destination, its about the journey

[Morkle]

When you say this year, do you mean 2016 or 2017. If you signed a W9 and received a 1099 for work done in 2016, it goes on schedule C (long or short form depending on any expenses to go against said income). If you signed a W9 and will receive payments for work done in 2017, then what I said applies next year.

You'll get a deduction for half of your self-employment tax on the front side(assuming your gross profit is more than $400) but pay it on the back side after taxable incomes is calculated and any credits taken off. If you had enough withheld from work and other things, you would still get a refund, just smaller. If the self employment tax eats up any additional federal withholding, you will owe. For state and local, you will owe 3.07% and 1%, or whatever your local rate is, on the gross profit.

Thanks for this, it would be for work done in 2016, and it's over $400. I'm going to a CPA and will be taking my invoices and expenses and see what we come up with.

[willeyeam]

Finally a smart human on this board

[tifosi77]

Agree w ulf. The IRS gives zero effs about where you live once you get to your new home...for the IRS, its not about the destination, its about the journey

Ah, but the rent was part of the journey. It was temp housing.

Just went through the tutorial Ulfie posted and got this:

If your moving expenses are greater than your reimbursement, the expenses you can deduct are:

The cost of connecting or disconnecting utilities
The cost of shipping your car and your household pets
The cost of moving your household goods and personal effects from a place other than your former home
The storage expenses
The lodging expenses (including lodging but not meals) to your new home

[MrKennethTKangaroo]

a.) Kenny the kangaroo, not some unhelpful clownboat like ulfster, posted that tutorial

b. Kenny the kangaroo's interpretation of lodging is paying for a hotel on your trip from point A. to point B.

Cause for the interpretation: to your new home

[tifosi77]

Pft, details.

[columbia]

Kind of hefty tax bill this year, due to some Roth conversion action.
Ran the basic numbers last night - ouch.

[MrKennethTKangaroo]

Pft, details.

you can take your pesky details, your duck fat, and your tears (since you no longer can deduct a few months worth of SF rents from your tax bill) and throw them in your damned sous vide machine

[columbia]

Mmmmmm...organic salt.

[mac5155]

Credit Karma still has me owing $250 to the state, even after I put my state income in directly from my W2. I emailed their customer support. They are inflating my state income by almost $7k somehow. Here's to hoping I found a bug and am rewarded handsomely.

[Troy Loney]

I have a big tax bill. We also donated a lot of our stuff to goodwill during the move. Trying to figure out what level of non-cash donation isn't going to get me audited. My wife and her sister's also donated a grand piano to the CMU music department....need to just get that tax bill down.

[columbia]

Credit Karma still has me owing $250 to the state, even after I put my state income in directly from my W2. I emailed their customer support. They are inflating my state income by almost $7k somehow. Here's to hoping I found a bug and am rewarded handsomely.

I gave that CK thing a 10 minute spin, before I realized that one couldn't import complicated/long documents from financial entities.
Deleted the basics of my return and went back to H&R Block.

[mac5155]

Yeah, I don't mind inputting stuff. I have 3 W2s this year because the wife changed jobs, but other than those, I have 3 1099s and my student loan interest. No where near itemizing, so it's easiest. I am only going w/ them because it's free - TT wants me to upgrade to deluxe for my aforementioned issues with the HSA (which i still can't figure out).

[tifosi77]

Pft, details.

you can take your pesky details, your duck fat, and your tears (since you no longer can deduct a few months worth of SF rents from your tax bill) and throw them in your damned sous vide machine

You know, what? I'm gonna do that.

[dodint]

TurboTax is so shady with the upsell.

You sold your home? Need to upgrade you to Premier.

*enters details*

Nevermind, you don't have to report your home sale to the IRS, j/k! Thanks for the money since you can't go back without starting over!

[mac5155]

Pft, details.

you can take your pesky details, your duck fat, and your tears (since you no longer can deduct a few months worth of SF rents from your tax bill) and throw them in your damned sous vide machine

You know, what? I'm gonna do that.

3 hours at 139*

[dodint]

I figure that I'm officially old now that I'm cajoling my wife to get her camera phone out and take pictures of her...W-2.

[mac5155]

I, uh, did the same thing... Lol

[dodint]

Annnnnnd, her law firm that could never figure out how to take the right amount of taxes out underwitheld again. Happened every single year. So glad she's done there. Both attorney's she worked for had this issue. Both made their office managers do their payroll and it's completely wrong no matter how many times she changed it. I just started withholding way too much and I covered her four-figure deficit with my overpayment.

[willeyeam]

Perhaps she's more aware of this than you know

[dodint]

[robbiestoupe]

$30,000 in itemized deductions means I will be going on quite the shopping spree in a few weeks.

[mac5155]

Upgraded to Turbo Tax deluxe for $24.99 and they upcharged me $36.99 for state. What the F? lol. so shady.

[mac5155]

HOLY ****.

They also charge a $34.99 fee to PAY WITH YOUR REFUND!?

Good thing I carefully reviewed everything.

[dodint]

I'm using Deluxe again. You have to start over but I didn't' want to give them the satisfaction.