Tax updates

[Catatonic]

`

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.

I know several people who do this.
Financial people frown on it but I never saw the hurt.

 

[oldngray]

With interest rates this low there would be little savings from delaying paying taxes you owe.

 

[olroadbeech]

does anyone have the correct link to upsers.com? mine no longer works. also , can you get your tax info/ pension statement from the benefit trust too?

 

[oldngray]

does anyone have the correct link to upsers.com? mine no longer works. also , can you get your tax info/ pension statement from the benefit trust too?

Retirees get cut off from upsers.com 6 months after they retire. Even though there is information you need still on that site.

 

[olroadbeech]

your link worked . thanks. i was able to get in even though i have been gone over 6 months. they are still paying legal services , ha ha and it appears i have a couple grievance checks at the hub that was paid 2 months ago. probably sitting in dispatch and i am sure as hell they did not wanna call me to pick them up. several hundred dollars.

i filed 2 grievances my last day of work. ( for ol times sake )

thanks oldngray. i owe you a beer.

 

[Retiree]

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

You have to be an active employee to get your W2 online. If separated it will come in the mail.

 

[UPSGUY72]

https://w2.adp.com/W2Services/w2Login.jsf

 

[UPSGUY72]

does anyone have the correct link to upsers.com? mine no longer works. also , can you get your tax info/ pension statement from the benefit trust too?

https://w2.adp.com/W2Services/w2Login.jsf

 

[Man Of Brown]

I only paid $30 or so in federal taxes and am getting a federal refund of over $4000 because of all the different credits. Not everybody is giving a free loan to the IRS

 

[TrapinBrown]

Any word on w2 available online

 

[Man Of Brown]

Any word on w2 available online

Mine isn't posted on ADP's website yet.

 

[Overpaid Union Thug]

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.

I try and keep as much of my money out of the wastful hands of the federal government as I can. I use the W4 withholding calculator on the IRS website to figure out how. I claimed 7 for 2015. I've been doing that for a while now. When I first started doing this I upped my 401k to match the additional money I was keeping from not over paying the government. So, instead of overpaying my taxes to the fed interest free for decades I'm letting it work for me in my 401k.

 

[ManInBrown]

I never understood that. Why would someone be completely exempt from federal withholding? Doesn't that mean you don't pay taxes? Where is that allowed? Sign me up

 

[Jackburton]

I never understood that. Why would someone be completely exempt from federal withholding? Doesn't that mean you don't pay taxes? Where is that allowed? Sign me up

Make less than 10k and you'll find out. My daughter does PT life guarding during the summer, she doesn't file taxes due to her only making 3-4K, being a dependent, her income threshold is 6k. One reason however to have your child file is if you want to contribute to their retirement. You have to have an earned income equal to or more than your retirement contributions. If you wanted to contribute on their behalf you could, which some parents with extra income do.

 

[Mr. Marshall]

I never understood that. Why would someone be completely exempt from federal withholding? Doesn't that mean you don't pay taxes? Where is that allowed? Sign me up

Remember when Romney said that 47 percent of people don't pay taxes with most actually taking in more money than they paid in? From what I read in the paper that number is going to be closer to 60 percent this year. The tax system has become a welfare system. Think about a standard deduction with child tax credits and then the biggest joke of all EIC.

 

[clean hairy]

I never understood that. Why would someone be completely exempt from federal withholding? Doesn't that mean you don't pay taxes? Where is that allowed? Sign me up[/QUOte
Just have an ill spouse whose medical bills each month that are sizeable enough to offset any tax on income.
Still want to sign up on that basis?

 

[UpstateNYUPSer(Ret)]

I only paid $30 or so in federal taxes and am getting a federal refund of over $4000 because of all the different credits. Not everybody is giving a free loan to the IRS

Some give the government interest free loans while others accept handouts.

 

[3838373]

I try and keep as much of my money out of the wastful hands of the federal government as I can. I use the W4 withholding calculator on the IRS website to figure out how. I claimed 7 for 2015. I've been doing that for a while now. When I first started doing this I upped my 401k to match the additional money I was keeping from not over paying the government. So, instead of overpaying my taxes to the fed interest free for decades I'm letting it work for me in my 401k.

With claiming 7 will you have to owe any money?

 

[UpstateNYUPSer(Ret)]

With claiming 7 will you have to owe any money?

If he was just claiming 7 and had nothing coming out of his check for retirement or did not have any other credits or deductions he would most certainly be paying in.

 

[3838373]

I'll have to figure it out where I only get a small refund...