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The Water Cooler
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Received unemployment and already filed your 2020 tax return?
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<blockquote data-quote="tRidiot" data-source="post: 3540722" data-attributes="member: 9374"><p>Uhhh... yeah, most people aren't forward-thinking like that these days.</p><p></p><p>For me, any time I get any kind of money or check or anything, I have to worry about how it is going to affect my taxes. I have to take extra out. I make tons of charitable contributions, in part to reduce my tax burden. I try to max out my retirement funding, in part to reduce current tax liability.</p><p></p><p>But no, from listening to the conversations around me, I don't think most people think about that. Not at all. They just think they got money, that's what matters, then they b***h at tax time about how unfair it is. I pay a much MUCH higher total AND I pay a higher percentage. </p><p></p><p>But I'll probably STILL end up owing taxes this year, after taking a massive pay cut each of the last several years, after increasing my withholding and having to take out an advance payment loan to keep my business afloat - which counted as taxable income, but now I have to pay back, including the taxed portion.</p></blockquote><p></p>
[QUOTE="tRidiot, post: 3540722, member: 9374"] Uhhh... yeah, most people aren't forward-thinking like that these days. For me, any time I get any kind of money or check or anything, I have to worry about how it is going to affect my taxes. I have to take extra out. I make tons of charitable contributions, in part to reduce my tax burden. I try to max out my retirement funding, in part to reduce current tax liability. But no, from listening to the conversations around me, I don't think most people think about that. Not at all. They just think they got money, that's what matters, then they b***h at tax time about how unfair it is. I pay a much MUCH higher total AND I pay a higher percentage. But I'll probably STILL end up owing taxes this year, after taking a massive pay cut each of the last several years, after increasing my withholding and having to take out an advance payment loan to keep my business afloat - which counted as taxable income, but now I have to pay back, including the taxed portion. [/QUOTE]
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Received unemployment and already filed your 2020 tax return?
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