Tax advice in USA

IotaInsanity · Feb 2, 2015

I work for a company. I make close to 50k a year. I get close to 150 in federal taxes, 40 in state, 26 in mecdicare withheld from every check. Is it possible to pay no withholding tax, and just pay the entire amount owed at the end of the year?

BassTrackerBoats · Feb 2, 2015

IotaInsanity said:
I work for a company. I make close to 50k a year. I get close to 150 in federal taxes, 40 in state, 26 in mecdicare withheld from every check. Is it possible to pay no withholding tax, and just pay the entire amount owed at the end of the year?

Possibly but there would be a penalty as you have to pay as you go with Uncle Sam.

mrsix · Feb 2, 2015

Far too many variables in that equation to give an any where useful answer.

http://www.forbes.com/sites/kellyph...brackets-standard-deduction-amounts-and-more/

http://apps.irs.gov/app/withholdingcalculator/

netmoney1 · Feb 2, 2015

This is not accountantworld. This is an internet marketing SEO forum.

Would you ask your accountant for SEO advice? I would hope not...

Or while getting your oil changed would you ask your mechanic about a health problem? Sounds ridiculous, right?

philly3 · Feb 3, 2015

netmoney1 said:
This is not accountantworld. This is an internet marketing SEO forum.

Would you ask your accountant for SEO advice? I would hope not...

Are you telling me there are 0 accountants on BHW?

netmoney1 · Feb 3, 2015

philly3 said:
Are you telling me there are 0 accountants on BHW?

I'm saying I would never seek out or ask for accounting advice on an internet marketing/SEO forum.

Some of the thread asking for company structure advice and suggestions are full of nonsense.

I think for anything tax related its worth picking up the phone and calling your accountant and not consider random opinions (of which most are not coming from an accountant)

But hey, to each their own.

Shit, if there is an accountant here that would want to answer questions (with a big fat disclaimer) they might make a good section mod here. I mean let's be honest...most of the advice in this section is not from experts.

IotaInsanity · Feb 3, 2015

Your kind of right netmoney. But I'm hoping for a point in the right direction not exact legal vice

sully1975 · Feb 3, 2015

http://budgeting.thenest.com/can-elect-not-taxes-taken-out-paycheck-25975.html

philly3 · Feb 3, 2015

netmoney1 said:
I'm saying I would never seek out or ask for accounting advice on an internet marketing/SEO forum.

Some of the thread asking for company structure advice and suggestions are full of nonsense.

I think for anything tax related its worth picking up the phone and calling your accountant and not consider random opinions (of which most are not coming from an accountant)

But hey, to each their own.

Shit, if there is an accountant here that would want to answer questions (with a big fat disclaimer) they might make a good section mod here. I mean let's be honest...most of the advice in this section is not from experts.

I agree, but sometimes people don't have accountants and do their own taxes. I'm sure a lot of people on here do their own taxes and could give him some sort of advice or direction.

LostConnection · Feb 4, 2015

philly3 said:
I agree, but sometimes people don't have accountants and do their own taxes. I'm sure a lot of people on here do their own taxes and could give him some sort of advice or direction.

Still doesn't mean he should take it. I could tell you that Microsoft's stock will skyrockets tomorrow, but should you buy it because I say that?

Tax advice in USA

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