07/27 - Mind Games Monday

That's very true, but my landlord and the local shops stopped taking a jaunty song and dance as payment.

 

(I think you mean every 3 months, except you don't do it, so it's irrelevant, so meh.)
This is what I do. All of my YOLO facetiousness aside, @morweeg is right. There is some kind of cutoff, except I thought it is if such form of income represents a significant percentage of your income. For me, turking is such a small part of my income that it becomes inconsequential for tax reporting purposes.

 

Technically, if it's over $600 any given year (if I remember the minimum correctly) the tax man wants his due.

 

Capitalist scum

 

@ChrisTurk we should probably compile a resource of tax info for people and put it under help or something

 

Those kinda things always tend to go stale / out of date, and then they go from helpful resource to "oh we've become a generator of audits" real quick

*glares at 4 y/o tax guide for turkers*

 

I think that's really hard because of how unique everyone's situation is. It's really easy to mess something up and best left to professionals.

 

I didn't mean from an official tax law standpoint. But there are basics that apply to most.

 

just toss the ‘ol @dan ”but I’m not a tax professional” at the bottom

 

Or maybe just advise people to talk to an actual tax professional if they're confused by strangers talking out of their ass on the internet.

 

see above

 

I don't pay quarterly, not worth the pain, I just pay whatever they fine me for not doing it at the end of the year, it's usually a small amount fine anyway.

 

There has to be another option. If a percentage of the population can be squeezed into 10-40ez then they can do the same with our income area. It just takes action.

 

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I'd honestly just link it to creditkarma.

This is @Mothra 's method & I personally don't hate it just wouldn't tell someone it's a good idea

 

Preface: don't take tax advice from random cats on the internet.

Here's the page I went to when I checked this out a while ago. The relevant bit for me is:

In general, taxpayers must pay at least 90 percent of their tax bill during the year to avoid an underpayment penalty when they file.
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My interpretation for my situation is that the taxes that are withheld in my FTE job easily cover the 90% threshold regardless of how much I earn in the year turking.

The other caveat is that in general you may have to pay if you expect to owe more than $1000. Again, for the amount that I pay in taxes through my FTE job, it pretty much makes my turking tax liability a rounding error.

This is for my situation which is definitely different from everyone else's and I'm not your tax adviser.

Totes.

 

The main issue is that we are considered self employed contractors and we get to pay SE tax plus income tax, pretty shitty for the wages imo.

 

Not saying you are wrong. Not at all

 

mentioned this this morning, but since it's been several hours

https://www.amazon.com/gp/product/B07RF1XD36/?tag=thtv02-20

ordered that today. not top of the line, but should be a nice replacement for my 8 year old laptop

 

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