annual withholding over/under

2,128 Views | 22 Replies | Last: 2 days ago by A-A Ron
TexasRebel
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7:58p, 1/27/25
AG
Who can owe the most for '24 without be penalized?

Who gave the feds the biggest interest free loan?

Who is closest to $0?



Personally, I'm 1 document away from finding out.
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NoahAg
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8:23p, 1/27/25
I'll find out later this year. Our return wasn't finished until July last year. I got an embarrassingly high refund because of a bonus that had too much withheld.
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AtticusMatlock
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9:57p, 1/27/25
I owe the Feds 90ish bucks. Getting a $140 refund from Louisiana (won a hand payout at the boats). Once I pay TurboTax or whatever I'll end up almost even.
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the most cool guy
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10:04p, 1/27/25
I'm sure I will owe at least $10,000 unfortunately.
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TecRecAg
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10:06p, 1/27/25
AG
Got back $1432
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nai06
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10:14p, 1/27/25
AG
Wife is 1099 so we are always writing a check
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FIDO*98*
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10:35p, 1/27/25
AG
I have to make quarterly payments in addition to my withholding and will still likely owe money
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Ragoo
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11:46p, 1/27/25
AG
Dunno it isn't late march yet
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TexasRebel
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In reply to the most cool guy • 12:34a, 1/28/25
AG
the most cool guy said:
I'm sure I will owe at least $10,000 unfortunately.


Underpayment penalties are an automatic DQ.
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the most cool guy
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In reply to TexasRebel • 9:54a, 1/28/25
TexasRebel said:
the most cool guy said:
I'm sure I will owe at least $10,000 unfortunately.


Underpayment penalties are an automatic DQ.

I owed $10,500 last year and didn't have a penalty. I doubt I'll have one this year.
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B-1 83
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10:16a, 1/28/25
AG
Interest and dividends are always the wild card……
Being in TexAgs jail changes a man……..no, not really
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Brian Earl Spilner
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10:58a, 1/28/25
AG
Did way too much leveraged trading in my brokerage last year and took a ton of capital gain.

Good problem to have I suppose, but the tax bill is gonna hurt this year.
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gabehcoud
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12:19p, 1/28/25
Looks like I owe $1400

Also, don't pay for turbo tax or anything else. CashApp Tax is free. Referral code LCVS88J
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one safe place
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12:29p, 1/28/25
I am pretty close to flush, perhaps $1,000 over or under. Won't know for sure until I file in October.
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UTExan
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1:19p, 1/28/25
Standard deduction kicks in for us (two retired olds) but we have a maxed out 22% deducted upfront from incoming checks so we should see a very nice return.
“If you’re going to have crime it should at least be organized crime”
-Havelock Vetinari
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Ginormus Ag
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9:28p, 1/28/25
AG
Discussing money and finances publicly is very low class.

My team of accountants and lawyers think I might have to remit a small sum. Hopefully my extra contributions and generous charitable contributions will prevent that.
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TexasRebel
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In reply to Ginormus Ag • 11:54p, 1/28/25
AG
Luckily, this has nothing to do with finances.
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Claude!
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8:44a, 1/29/25
I did my taxes and instead of figuring out what I owed or was due, I just got a note that said some people were coming to see me.
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jwoodmd
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9:18a, 1/29/25
My tax attorney met with the IRS. He said they had new guidelines and were mandated to be more helpful and offer sound advice. They told my tax attorney that I should leave the country as soon as possible.
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FightinTAC08
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In reply to NoahAg • 9:30a, 1/29/25
AG
NoahAg said:
I'll find out later this year. Our return wasn't finished until July last year. I got an embarrassingly high refund because of a bonus that had too much withheld.
bonuses, if paid separately have their own statutory withholding tax rate rate of 22%. not your fault. if paid with regular payroll they are factored into the regular irs tax withholding calculators. again nothing you can do unless your employer gives you enough notice to change your W-4 a couple of times.
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tandy miller
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10:15a, 1/29/25
AG
I'm getting back $69

Will probably blow it on dog treats and kazoos
FJB
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Mayor West
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10:34a, 1/29/25
AG
Expecting the IRS to be abolished before 15 April.
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A-A Ron
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6:56a, 1/31/25
We are getting back $224, that doesn't count that we both claim zero and I have an extra $30 a paycheck taken out, so I essentially pre-paid plus some...
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