Year End aipodaniki vastundi. -- Plan your finances accordingly

[Bhai]

On 12/7/2016 at 7:27 PM, Spartan said:

bench meeda vache chances unnai antunnav kabatti...401k vaddule..

even if u contribute it doesnt save u much. ne marginal tax rate will be 25% only. so better to go with std deducitons and keep cash in hand rather than 401k.

12600 is standard deduction provided IRS, itemized deduciton chesi if u get deductions more than that amount u can do that.

most of the times it wont cross that .

u can calculate that here.

https://www.irs.gov/uac/how-much-is-my-standard-deduction

no 2016 

[Spartan]

2 hours ago, Bhai said:

no 2016 

https://www.irs.gov/uac/newsroom/in-2016-some-tax-benefits-increase-slightly-due-to-inflation-adjustments-others-are-unchanged

[Merabharathmahan]

19 hours ago, Merabharathmahan said:

W-4 lo allowances 2 pettocha husband dantlone and spouse job lo "0" petti? 

married joint filing. wife just part time $8/hr job (60 hours per month) chesthe wife w-4 lo allowances 0 petti husband W-4 lo allowances 2 pettocha? Husband is in IT so pay ekkuvaga husband dantlo vastadi so monthly tax withholds ekkuva cut kakunda undataniki 2 allowances petti then wife di elago chinna pay check so andulo Zero allowances pedthe ok na? i know end of the year they sum up all earnings of both and also how much taxes we paid and owe right? 

W-4 lo second page fill cheyala both working kada so second page lo second dantlo evo unnay? 

Spartan can u answer this

[Merabharathmahan]

23 hours ago, Merabharathmahan said:

W-4 lo allowances 2 pettocha husband dantlone and spouse job lo "0" petti? 

married joint filing. wife just part time $8/hr job (60 hours per month) chesthe wife w-4 lo allowances 0 petti husband W-4 lo allowances 2 pettocha? Husband is in IT so pay ekkuvaga husband dantlo vastadi so monthly tax withholds ekkuva cut kakunda undataniki 2 allowances petti then wife di elago chinna pay check so andulo Zero allowances pedthe ok na? i know end of the year they sum up all earnings of both and also how much taxes we paid and owe right? 

W-4 lo second page fill cheyala both working kada so second page lo second dantlo evo unnay? 

Spartan bhayya can you answer this. 

[Spartan]

14 minutes ago, Merabharathmahan said:

Spartan bhayya can you answer this. 

at the end of the day. as u said it will be urincome+wives income and pay tax to that bracket kada.

so why complicating the stuff by changing the W4 etc.

iddaru evaridi vallu individual ani mention cheskondi W4 lo..and at the end of the year do a joint filing.

neeku monthly kavala dabbulu..leda yearly once lumpsum lo kavalana ane dani pai depend avutundi.

 

If i were in ur place, i would go with simple seperated thing

[Merabharathmahan]

9 minutes ago, Spartan said:

at the end of the day. as u said it will be urincome+wives income and pay tax to that bracket kada.

so why complicating the stuff by changing the W4 etc.

iddaru evaridi vallu individual ani mention cheskondi W4 lo..and at the end of the year do a joint filing.

neeku monthly kavala dabbulu..leda yearly once lumpsum lo kavalana ane dani pai depend avutundi.

 

If i were in ur place, i would go with simple seperated thing

Already na dantlo Allowances "2" ani undi from last 3 years since wife was home maker. Now wife got small parttime job in december and ame w-4 lo "0" allowances pettam since na dantlo elago amedi kooda oka allowance undi kada. 

Next year 2017 nundi na w-4 lo "1" allowance pettala ani chustunna instead of "2". But 2 unna kooda em problem undadu kada?

Naku monthly eppatikappudu ekkuva theesukovadame kavali. i don't want to wait till year end to get lumpsum tax returns. 

 

W-4 lo page 2 lo two jobs in house vallaku edo untadi kada adi kooda fill cheyala? 

[Spartan]

3 minutes ago, Merabharathmahan said:

Already na dantlo Allowances "2" ani undi from last 3 years since wife was home maker. Now wife got small parttime job in december and ame w-4 lo "0" allowances pettam since na dantlo elago amedi kooda oka allowance undi kada. 

Next year 2017 nundi na w-4 lo "1" allowance pettala ani chustunna instead of "2". But 2 unna kooda em problem undadu kada?

Naku monthly eppatikappudu ekkuva theesukovadame kavali. i don't want to wait till year end to get lumpsum tax returns. 

 

W-4 lo page 2 lo two jobs in house vallaku edo untadi kada adi kooda fill cheyala? 

yes page 2 lo a part fill cheyali.

[Merabharathmahan]

3 minutes ago, Spartan said:

yes page 2 lo a part fill cheyali.

Both husband and wife in both of their W-4 lo second page fill cheyala? Adi chala confusing undi bhayya. Can you help me. 

i think employers take bottom half of first page right. second page lo second half compulsary fill cheyala?

[Spartan]

Just now, Merabharathmahan said:

Both husband and wife in both of their W-4 lo second page fill cheyala? Adi chala confusing undi bhayya. Can you help me. 

i think employers take bottom half of first page right. second page lo second half compulsary fill cheyala?

iddari W4s lo adi mention cheyali.

at the end of the day..ur taxing will be based on total income.

e confusion untadane..simple ga chesko mani cheppa.

nenu help cheyochu..but edaina mistake jarigite..malli nenu neeku dorakanu kada niladeesi adagataniki. Financial matters are the main line drawers..

[Merabharathmahan]

12 minutes ago, Spartan said:

iddari W4s lo adi mention cheyali.

at the end of the day..ur taxing will be based on total income.

e confusion untadane..simple ga chesko mani cheppa.

nenu help cheyochu..but edaina mistake jarigite..malli nenu neeku dorakanu kada niladeesi adagataniki. Financial matters are the main line drawers..

simple ga ante ela bhayya. i did not get that. 

[Spartan]

3 minutes ago, Merabharathmahan said:

simple ga ante ela bhayya. i did not get that. 

simple ante..ne W2 lo no exemptions pettuko, me wife w4 also same.

and claim money at the end of the year.

 

but for ur case it shouldnt be that complicated, HR block or me office lo HR team ni adugu they will guide for free.

[mirpakaay]

On 12/18/2016 at 10:33 PM, Spartan said:

https://www.irs.gov/uac/newsroom/in-2016-some-tax-benefits-increase-slightly-due-to-inflation-adjustments-others-are-unchanged

here's no merit to whatever anyone says here.

Truth is complicated to arrive at, and requires rigorous analysis, and extreme patience with numbers.

we are all just a bunch of handwavers

 

 

[Bhai]

1 minute ago, mirpakaay said:

here's no merit to whatever anyone says here.

Truth is complicated to arrive at, and requires rigorous analysis, and extreme patience with numbers.

we are all just a bunch of handwavers

 

 

here's no merit to whatever anyone says here.

Truth is complicated to arrive at, and requires rigorous analysis, and extreme patience with numbers.

we are all just a bunch of handwavers

[mirpakaay]

Just now, Bhai said:

here's no merit to whatever anyone says here.

Truth is complicated to arrive at, and requires rigorous analysis, and extreme patience with numbers.

we are all just a bunch of handwavers

Y copy my?

[Bhai]

Just now, mirpakaay said:

Y copy my?

here's no copy to whatever anyone says here.

Truth is complicated to arrive at, and requires rigorous analysis, and extreme patience with numbers.

we are all just a bunch of typewriters