Tax Season

[lawman1]

Hello to all-

Please let me know if anyone needs assistance with their taxes during this upcoming tax season. If not, I can always be a sounding board for any questions that may arise.

Regards,

LM1, JD, EA

[BettorsChat]

What are the offshore loopholes that the rich use?

[ToDaClub]

Tax Question

If I make more than $150K a year do I have to vote republican?


Signed,

Monte

[ToDaClub]

Tax Question

Will my Social Security stop paying next year when I turn 170?



Signed.
Spark

[ToDaClub]

Tax Question

If I make $2500 on the first half bet, and another $3500 on the second half/end of game every night, do I have to post my plays?


Signed,
LetmetellyouthatIwinalot

[ToDaClub]

Do I have to claim the value of all my trophys and my gold and diamond rings I've won, not to mention all the medals?


Signed,

ChuckLazar

[kbsooner21]

Do I have to claim the value of all my trophys and my gold and diamond rings I've won, not to mention all the medals?


Signed,

ChuckLazar

[umreb78]

Hello to all-

Please let me know if anyone needs assistance with their taxes during this upcoming tax season. If not, I can always be a sounding board for any questions that may arise.

Regards,

LM1, JD, EA

Not that Lawman couldn't answer any questions that anyone may have, and I'm not trying to intrude on his generous (and it is generous) offer, but I am a CPA with 30 years experience so if there are any issues that anyone has, I'm sure that between us we can help with any problems any of the regulars have. (This gives me a way to volunteer to help BC Nation without having to "exert" myself too much) lol

[griffey_mojo]

Better to file jointly or separately???

[10DimeBry]

Better to file jointly or separately???

depends on certain variables ie what you can claim,incomes,dependents, interest earned etc. I file jointly but thats only cause my accountant recommended it. So he handles my taxes I just sign the check.

[vols fan]

I have a question to either of you guys. In my divorce last year my ex wife got half my 401k.We had the court order QDRO and she didn't roll the money over. She used the money and paid off all our bills and put the rest in the bank and gave me some also so we could both start off fresh. When she received her check they had already took out federal income tax. Now on her federal taxes it's showing she has to pay a 10% penalty. I know we were subject to a penalty by the bank which was waived cause of the court order. But why the hell is she having to pay the government a penalty after she already had the taxes took out?

[griffey_mojo]

depends on certain variables ie what you can claim,incomes,dependents, interest earned etc. I file jointly but thats only cause my accountant recommended it. So he handles my taxes I just sign the check.

I've been doing mine on Turbo Tax for the last few years. I've got it finished...but just haven't filed it. My wifes coworkers told here to file separate, but from what I've entered into the turbotax form I get a higher return by filing jointly.

[griffey_mojo]

I have a question to either of you guys. In my divorce last year my ex wife got half my 401k.We had the court order QDRO and she didn't roll the money over. She used the money and paid off all our bills and put the rest in the bank and gave me some also so we could both start off fresh. When she received her check they had already took out federal income tax. Now on her federal taxes it's showing she has to pay a 10% penalty. I know we were subject to a penalty by the bank which was waived cause of the court order. But why the hell is she having to pay the government a penalty after she already had the taxes took out?

I have no clue Vols...This stuff is above my head.

[10DimeBry]

I have a question to either of you guys. In my divorce last year my ex wife got half my 401k.We had the court order QDRO and she didn't roll the money over. She used the money and paid off all our bills and put the rest in the bank and gave me some also so we could both start off fresh. When she received her check they had already took out federal income tax. Now on her federal taxes it's showing she has to pay a 10% penalty. I know we were subject to a penalty by the bank which was waived cause of the court order. But why the hell is she having to pay the government a penalty after she already had the taxes took out?

because you are not allowed to spend $$$ you put toward a 401k until retirement age 59 1/2 yrs old I believe. May be longer now. You paid the taxes as you would because when you were saving your work was taking the funds and depositing them as "pre-taxed" dollars.
So you paid the taxes.
Then you paid a 10% penalty for withdrawing your $$$ before age limit was met.

hope this helps.

[umreb78]

Fellows of Bettors Chat. This is the wife of the screen name umreb78. He asked me to come to this specific page for him and to pass on a message to anyone who had asked him a tax question. He was involved in a very bad accident several weeks back and has been in the hospital. He is doing better and wanted me to let anyone interested know that he will hopefully be back on his feet in the next week or so and will address any open tax questions that anybody might have posted for him. Also asked me to say hi to three members here....Might be remembering the names wrong, but he says hi to Sparks, Volunteer, and Weener????