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Forum nameGeneral Discussion
Topic subjectYet another reason why being an adult sucks: filing for 2022 taxes.
Topic URLhttp://board.okayplayer.com/okp.php?az=show_topic&forum=4&topic_id=13477812
13477812, Yet another reason why being an adult sucks: filing for 2022 taxes.
Posted by Numba_33, Wed Feb-01-23 01:41 PM
Did folks file their 2022 taxes yet? I had the misfortune of doing so last weekend and good grief was a stunned how low my returns were. Amazing shocked. I think this might have been the lowest I've seen since I started filing my own taxes ever. I am a single childless heathen, so I don't have anyone I can legally claim on my taxes. In addition, I would love to Congress to bring SALT back so I can get back some better returns.

How did the returns come back for other folks? Did anyone manage to keep on par with their normal returns?
13477813, Man I owe this year.
Posted by BrooklynWHAT, Wed Feb-01-23 01:45 PM
Uncle Sam saw what I pulled down this year compared to 2021 when I got laid off and said hell naw you got to come up off some more of that.

I stopped the process mid filing I was about to throw up. I’ll come back to it later.
13477814, Did you work as an independent contractor?
Posted by Numba_33, Wed Feb-01-23 01:47 PM
Did you get a 1099 instead of a W2 for your 2022 wages? If so, that makes sense.

But if you were employed by a company that already withheld taxes for you in 2022, that has to hurt.
13477815, Nah I was with a company and had it withheld
Posted by BrooklynWHAT, Wed Feb-01-23 01:51 PM
Guess it wasn’t enough.I’m just extremely unhappy about it and gotta make mental peace with it
13477818, Brutal.
Posted by Numba_33, Wed Feb-01-23 02:11 PM
If you haven't done so and assuming you're with the same company, you should fix you deductions so that some doesn't occur when you file for 2023.
13477819, Yep do it immediately.
Posted by Brew, Wed Feb-01-23 02:22 PM
My wife and I were paying out our asses for 2 years after we got married before someone pointed out to her that she had fucked up her filing elections. We've been getting returns every year since.

I'd assumed that it was just because we'd gotten married and both started getting significant pay bumps in the years since. But you just gotta pay attention to what you have coming out, what you make/expect to make, and what tax bracket you'd therefore probably be in.

It's fucking bogus that we have to do this at all, but it's the shithole country we live in.
13477816, Yuuuuup…this year’s return was just over half of last year’s, for me
Posted by Dstl1, Wed Feb-01-23 02:02 PM
.
13477817, Return? Wtf is a return?
Posted by Nopayne, Wed Feb-01-23 02:06 PM
smh, I wish.
13477872, ^^^^^^^
Posted by snacks, Thu Feb-02-23 09:16 AM
>smh, I wish.

I owed $6k last year, so I'd be elated to break even honestly
13477897, You are seen and felt.
Posted by squeeg, Thu Feb-02-23 12:10 PM
I haven't filed my 2022 taxes yet, but I'm hoping I increased my deductions enough to only owe a four-figure amount.

My ultimate goal is to break even. I don't want to owe the IRS anything, and I don't need them to owe me anything.


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13477820, That should be a good thing though (re: low returns)
Posted by PimpTrickGangstaClik, Wed Feb-01-23 02:24 PM
All that means is you didn't overpay taxes by much throughout the year. If you got a huge refund, you just let the govt hold your money for you interest free.

Looking at your tax rate (total taxes paid / income) is probably a better thing to compare across the years.

13477822, It's true, it's all smoke and mirrors.
Posted by Brew, Wed Feb-01-23 02:34 PM
But if you don't *need* the cash every week throughout the year, the "return" feels good and feels like free/extra money even tho it's definitely obviously not.

Again I understand fully that this is part of the trick, and it's stupid, and it's all nonsense, but clearly on some level I've bought into it as a nice "influx" of extra money to begin the year.

I suppose I could find a way to do it myself ...
13477823, Yeah it's basically a savings account
Posted by mista k5, Wed Feb-01-23 02:37 PM
with no interest lol Many of us are used to it and count on it. I can definitely understand being disappointed if you end up getting significantly less than you expected.

I am set up to pay a small amount, hopefully I didn't miscalculate and end up owing anything significant.
13477838, Totally - and the fact that it's so fucking needlessly complicated ...
Posted by Brew, Wed Feb-01-23 04:16 PM
... makes me more likely to overpay up front (fortunately I'm able to without being cash-strapped) so I can be guaranteed a return, as opposed to crossing my fingers hoping I don't owe anything.

It's all very stupid.
13477878, for most people its treated like something you expect and worked for
Posted by legsdiamond, Thu Feb-02-23 10:22 AM
but yeah, when those numbers come back crooked it fucks up my whole week.
13477824, While the first point may be true
Posted by Numba_33, Wed Feb-01-23 02:41 PM
I didn't change my deductions at all from how I've been filing and my prior 4-5 returns have been fairly consistent. The much lower returns were a stunner that Saturday morning when I completed the filing.

Your second point is a prudent one. I'm going to see if I can access my tax records and compare as best as I can.
13477833, you're 100% correct...
Posted by Dstl1, Wed Feb-01-23 03:37 PM
my old boss taught me that when he started letting me see into the inner-workings of running the shop. I was just surprised at the stark difference from last year, with nothing on my end changing.
13477828, Return = you owe money. Refund = you get money.
Posted by Oak27, Wed Feb-01-23 03:03 PM
That is all.
13477829, blame ukraine
Posted by Crash Bandacoot, Wed Feb-01-23 03:18 PM
that's what i've been told
13477832, The last 4 or 5 years I’ve owed
Posted by DJR, Wed Feb-01-23 03:33 PM
so I’ll wait until the last possible day to do it. I’m not in any hurry to pay.

When I used to get refunds, I’d file early.
13477866, I dont expect much since my wife worked half the year
Posted by legsdiamond, Thu Feb-02-23 06:24 AM
and was an independent contractor for a few gigs.

actually just hoping we don’t owe.. again.

Also deducted more the last few years.

My frustration is state taxes. Regardless of what we do we always owe the state.

13477868, I just hope I won’t owe too much
Posted by godleeluv, Thu Feb-02-23 06:34 AM
Or anything at all.

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13477874, how do people file taxes so early?
Posted by luminous, Thu Feb-02-23 09:46 AM
i don't have all my forms back yet... still waiting for a few 1099s
13477877, If you only work one gig its easy
Posted by legsdiamond, Thu Feb-02-23 10:20 AM
I got my form last week.

My wife had like 6 gigs last year and funny enough all of them have arrived already. There were years that we didnt get one of her 1099’s until March.
13477883, RE: If you only work one gig its easy
Posted by Numba_33, Thu Feb-02-23 10:55 AM
>I got my form last week.
>
>My wife had like 6 gigs last year and funny enough all of them
>have arrived already. There were years that we didnt get one
>of her 1099’s until March.


The postmark dates and the guidelines for 1099's changed roughly 2-3 years ago if memory serves me right. Years back, the postmark date for mailing 1099-MISCs was the end of March. Since then, the bulk of 1099-MISCs changed over to 1099-NECs for the majority of folks that were independent contractors. The postmark date for 1099-NECs is January 31st which I believe is the same for W2s.
13477887, yup, I can pull everything off the HR portion of our intranet...
Posted by Dstl1, Thu Feb-02-23 11:13 AM
plus, we can merge it right into Turbo Tax. Them numbers were up on the 23rd, I filed ON the 23rd.
13477972, I owe for the first time, probably.
Posted by Nodima, Thu Feb-02-23 04:14 PM
I’m sitting at $140 owed right now, depends how my third W2 comes in, might push me back into the positive.


After years of working at a place where credit card tips were withheld and applied to my direct deposit, though, I’m back in the rock n roll world where we take our credit tips as cash at the end of the night and payroll works some voodoo so just a fraction of that is accounted for and taxed, so our paycheck comes out to less than what it would be normally but most of our tips are unaccounted for like cash.

So I more or less expected to owe, I’m just happy it’s barely one night’s worth of work so far and, again, might barely tip back posi after I get my third W2, which is outside the venue world and reports CC directly as usual.

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