Tax updates

[rod]

My wife tries to keep ours at between + or - $200 refund or owe. Shes really good at it. We pay quarterly taxes. The chances are that anyone who has a big refund coming has paid in too much to begin with. I would rather play with my own money all year long rather than letting Uncle Sam have at it.

 

[Richard Harrow]

This is their peak, so be considerate and don't wait to the last minute. I can just imagine what CPAcafe says.

I'd take an accountants peak over ours any day. My uncle is an accountant. He literally makes $3,000 a day pushing a pen between now and 4/15.

 

[LongTimeComing]

Still not on ADP. Seems like they are taking their good old time posting it this year...

 

[UpstateNYUPSer(Ret)]

And you know what I'm gonna owe the same no matter what the date is. Might as well pay it now.

Why? Leave that money in the bank and earn what little interest they pay these days and then pay your taxes on the 15th.

(The actual due date this year is a bit later due to President's Day)

 

[Gman33909]

When your part time your really looking forward to income tax time hope adp uploads them soon

 

[UpstateNYUPSer(Ret)]

When your part time your really looking forward to income tax time hope adp uploads them soon

The earliest you would get your refund is two weeks.

 

[wetleg]

Can seasonal employees get their W-2's online?

 

[UpstateNYUPSer(Ret)]

Can seasonal employees get their W-2's online?

Were you given an employee ID number? Do you have access to upsers.com?

 

[wetleg]

Were you given an employee ID number? Do you have access to upsers.com?

Yeah it was but it looks like I can't get in with it. I'll just have to wait for the copy to be mailed to me.

 

[Cementups]

I got my 1099G for the 4 months of unemployment I collect in the last quarter of 2015. But nothing from UPS yet.

 

[olroadbeech]

thanks for the info. we were wondering about that 1099-c or that form you need now showing proof of health insurance.

 

[By The Book]

Dave's tax service........how can I help you. I think you could make a go of it.

 

[LongTimeComing]

thanks for the info. we were wondering about that 1099-c or that form you need now showing proof of health insurance.

*1095-C (is what I assume you are talking about....1099 C is for Cancellation of Debt).....and it's not required this year because the time frame of it's delivery was pushed back to March 31st. So, complete your taxes as usual. No need to worry about that new insurance tax form.

 

[LongTimeComing]

The earliest you would get your refund is two weeks.

I filed my taxes on Jan 23rd of last year, which was a Friday. That was more than likely the same day that ADP posted our W2. I can confirm that my refund was deposited in my bank account on Jan 30th, 2015.

I'm sure a lot of factors go into the length of time it takes to process a tax refund, but I was pleasantly surprised with the 7 day turnaround last year. So, who knows....

 

[FeeDerp]

I would rather play with my own money all year long rather than letting Uncle Sam have at it.

Yup.

It's essentially an interest free loan you give the gov.

Anyone elses goodwill store or similar, give you blank receipts that you write up yourself? Every year I always seem to donate multiple couches and tv's......

 

[UpstateNYUPSer(Ret)]

Yup.

It's essentially an interest free loan toy give the gov.

Anyone elses goodwill store or similar, give you blank receipts that you write up yourself? Every year I always seem to donate multiple couches and tv's......

You can write off up to $250 of charitable donations without a receipt.

 

[LongTimeComing]

And for those who have trouble understanding how allowances work, https://turbotax.intuit.com/tax-too...heck-and-Still-Get-a-Tax-Refund/INF12107.html is a wonderful "rule of thumb" to use.

Don't be afraid to choose as many allowances as you wish in order to get your refund amount as close to 0 as you are comfortable with. People get nervous to claim "too many" allowances, but the truth is that you can do what you please within reason. The only thing you want to avoid is changing the amount over and over again from month to month.

 

[BigSlim]

Yeah it was but it looks like I can't get in with it. I'll just have to wait for the copy to be mailed to me.

I was a seasonal and was able to login to upsers, set up direct deposit, view paychecks, etc. Also able to set up an account with ADP, although the W-2 hasn't shown up there yet...

 

[olroadbeech]

the way the interest rates have been i would rather let uncle sam hold the money . my bank interest earned last year was about 5 dollars. my refund was 3800. if i received an extra 70 a week in my paycheck i probably would have saved very little of it.

we went to Hawaii with that refund. so it kind of works both ways.

 

[Catatonic]

My wife tries to keep ours at between + or - $200 refund or owe. Shes really good at it. We pay quarterly taxes. The chances are that anyone who has a big refund coming has paid in too much to begin with. I would rather play with my own money all year long rather than letting Uncle Sam have at it.

I usually owe another 6 -7 thousand.
I had to pay a $12 penalty one year.