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Tax advice in USA

Discussion in 'Business & Tax Advice' started by IotaInsanity, Feb 2, 2015.

  1. IotaInsanity

    IotaInsanity Junior Member

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    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?
     
  2. BassTrackerBoats

    BassTrackerBoats Super Moderator Staff Member Moderator Jr. VIP

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

    mrsix Power Member

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    Last edited: Feb 3, 2015
  4. netmoney1

    netmoney1 Executive VIP

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    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?
     
  5. philly3

    philly3 Power Member

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    Are you telling me there are 0 accountants on BHW?
     
  6. netmoney1

    netmoney1 Executive VIP

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    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.
     
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  7. IotaInsanity

    IotaInsanity Junior Member

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    Your kind of right netmoney. But I'm hoping for a point in the right direction not exact legal vice
     
  8. sully1975

    sully1975 Jr. VIP Jr. VIP Premium Member

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  9. philly3

    philly3 Power Member

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    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.
     
  10. LostConnection

    LostConnection Senior Member

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    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?