Sweet Kitten Feet said:

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I paid over $30k in f'in taxes this year

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$30,008

Ryan the Temp said:

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Sweet Kitten Feet said:

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I paid over $30k in f'in taxes this year

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$30,008

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$35,434

permabull said:

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infinity ag said:

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NormanEH said:

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Wife didn't update withholding after changing jobs last year. This one's going to sting.

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Happened in 2024 to us. Not fun. Sorry man.

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No one ever wants to check that box on the W4 that says your spouse also works. I saw a CPA on reddit say you can put a gun to their head and tell them to check that box and they will stick their touge out and try to use it to pull the trigger.

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These days I don't get any deductions in either of our jobs. I max out our 401ks and have them take out max as taxes. Better that way than paying fines.

Shelton98 said:

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Ryan the Temp said:

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Sweet Kitten Feet said:

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I paid over $30k in f'in taxes this year

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$30,008

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$35,434

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Put your dix up. I paid $161,xxx and my wife doesn't work. Tack on another 30K in property. Plenty of F16 and B&I posters who would trade with me.

infinity ag said:

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permabull said:

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infinity ag said:

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NormanEH said:

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Wife didn't update withholding after changing jobs last year. This one's going to sting.

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Happened in 2024 to us. Not fun. Sorry man.

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No one ever wants to check that box on the W4 that says your spouse also works. I saw a CPA on reddit say you can put a gun to their head and tell them to check that box and they will stick their touge out and try to use it to pull the trigger.

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These days I don't get any deductions in either of our jobs. I max out our 401ks and have them take out max as taxes. Better that way than paying fines.

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Ok I'll admit I don't know what this means. Fines for what? I was under the impression that if I didnt want anything taken out of my paycheck, I could just write a big ass check at the end of the year. We owed almost 10k this year bc my wife switched jobs and they didnt take enough out.

Why would there be fines and/or quarterly estimated payments? I've always been a simple two income W2 file my own taxes person & I've never encountered such things.

Explain it like it should have been explained to all of us in high school?

I'm assuming most that do quarterly's or for things outside of W-2 jobs.

So I know from me, it's because I have a business. I know from my mom it's because she gets oil checks throughout the year.

I can't speak for others, but those are our situations.

Copious taxicologists on this thread.