I done my taxes and am furious. I have been a trucker for 47 years and always been able to use my over the road expenses as a tax deduction but this year they disallowed it. I was a o/o for 28 years and have driven for only four carriers the rest. Because of this disallowance I now owe the government another 9000.00 dollars in income taxes. I urge every driver to contact their representatives in Washington to change the tax code.
Two weeks into job searching and trying my hardest not to get discouraged. I am blessed to have March bills covered. Thankful for tax return. I have always had a full time job and part time jobs at same times. I am exhausted and tired of being a positive and hard worker at my company and not being appreciated. The place that let me go because I was being bullied by two younger girls that were best friends!!! Management even told me this months before to overlook and be the bigger person because they were immature. I went to work daily and even though they ignored every thing I said even work related and tried to find errors to run to the owner and tattle. I really thought if I didn’t sink to their level I would keep my job???? They did not like the fact I did not gossip or talk about the new office manager!!! I just did not want drama and really too old for that!!! The week before I was set free to find another job not fired they said lol. They had individual meetings where they gave everyone 4 weeks to come together. I worked with them 1 day then came in and let go. I never got in trouble for not following rules or anything????? So now what do I do?? Been on 4 interviews and applied to numerous jobs. The future is unknown and scary!!! The picture below is my sons and I September 2018 when I got married. My personal life is so full and happy. Now to get my happy career!!! Prayers
Most of us find it difficult to save money these days with the prices of goods and services seemingly increasing at the speed of light. It is also for that same reason that some people do not take advantage of saving with their employer’s deferred tax savings plan. Some people also think that they can’t save which, for most of us, is simply not true. While everyone’s financial situation is definitely different, many of us can find at least a few dollars to save each month. This post looks at five advantages that we as employees can enjoy when we save through these types of employer-sponsored plans.
You can get free money. That's right! Many employers match their employees' investments up to a predetermined maximum percentage. That's free money added to your savings to help you meet your retirement income goals. I know that for some of you, retirement is the furthest thought from your mind. Take it from someone who was once in your shoes. It rolls around much more quickly than you could ever imagine. It really hit me a few years ago when I left one job for another and wanted to roll my investments over to another qualifying plan. I was thoroughly surprised at how much I had saved...thanks to my former employer's matching dollars based on the percentage of my income that I had invested. By the way, you can also change the investment strategy as needed. vendors typically have certain types of strategies that you an passively subscribed to based on your age and planned retirement date. The closer you get to your retirement target date, the less risk your passive plan will take on; however, you can always change how your money is invested and move it back to a higher risk plan if you wish. You get to save almost any amount, up to an IRS regulated maximum. Whether you have a lot of disposable income that you can choose to save, or if you have only a small amount. Theses plans are meant to encourage us to save. Also, if it is a voluntary plan, you can typically start and stop contributions at your discretion. So, lets say, summer break is approaching and you know that all day childcare is going to put a strain on your budget. Although I don’t encourage it, you may choose to stop your contributions during that time. Meanwhile, your contributions that you have already made will continue to earn interest and grow. By saving through these plans, we reduce our taxable income. When our taxable income is lower, our tax liability is lower which decreases the amount of tax that we must pay on our income at tax time each year. Believe it or not, you sometimes end up bringing home a slightly larger paycheck when you save through these types of plans. The reason this may be possible is that tax deferred means that your employer deducts your savings from your paycheck before taxes and contributes those funds to your tax-deferred savings plan. Because no taxes were taken out of your check yet, this leave a larger amount to tax than there would have been if your savings had been deducted after the taxes were taken out. If you experience a qualifying hardship like medical needs or other circumstances, you can often take out a no-interest loan that you borrow from you own money, then pay back via payroll deductions. Imagine not having to go through a financial institution to apply for a loan. That is pretty exciting to think about a no-interest loan. Some programs even let you withdraw up to a certain amount for the purchase of a new home without the usual additional tax penalty. Another type of tax-deferred savings plan offered by employers is the 529 education savings plan that many US employers offer. It allows employers to save for their childrens' education with pre-tax dollars that are payroll deducted and invested for the employee until the time comes to send "Junior" and "Juniorette" off to college. Your saving in these plans also help to boost your personal net worth. So see there are many reasons why we employees should take advantage of our employers' tax deferred savings plans. Even if you only save $20 per pay period and you get paid by weekly, at the end of a full year, you will have saved $1K+. That may not seem like a lot, but I'd rather have $1K saved as opposed to $0 saved. Bottom line, start saving a small amount if you can only do that, see how you like seeing your dollars grow, then, I guarantee that you will be motivated to find creative ways to save even more. I know that many of my subscribers are currently searching for their next career opportunity, so when you start your new job, consider starting your savings plan as soon as you are eligible to participate in your new employer's plan. Let's all get to saving.
Happy Career Searching and Saving to All!
Original post on HR by Nnamtique at https://nnamtique.com.
I'm a truck driver that started with a company mid November 2018 i was a company driver made 50 cents a mile but no taxes was taken from pay I half to pay on what I made when company sent me my 1099 they said they paid me $18000 I have all my weekly pay settlements they sent me I only made $8000 what should I do
Moving away from a fist full of people who love drama and Lies between there own soap boxes Pinecove Motel, and Trailer Park , Seaside, Oregon. To bad for them since a 11 yr investagtion is still on going about Tax Fruding Federal Gov.
What do I do called the labor board because my last job hasn't sent my w2 to do my taxes also the labor board told me to call th e IRS idk why I called the job and they said payroll lady is on vacation but they could of gave me a copy
I recently had a phone interview with a prospect employer, they called me to come in and do the face to face interview went fine. I followed it up and sent in a thank you letter and I'm still waiting to hear from them but the employer told me they would make a decision very quickly, then HR had to do all the other paper work, they had me fill out the W-2 form the same day is that a good sign that I got the job.
Ever been “laid off” or terminated because it’s not the right “fit”? Bunch of BS I say , this has been my luck for awhile now , while I’m an RN people think they’re are jobs everywhere, for me no because of physical limitations, I am going to interviews got a job then was told they’re census went down and they had to postpone the position, so I am Per Diem every where , and have 3 months rent left , I’m ready to go to Trader Joe’s but afraid to be told I have no experience or overqualified....I have interviews Thursday and Friday . Does anyone know if you can file taxes if you have more deductions than income? Feedback is appreciated
A gig is a job that allows you to work for companies as a contractor. Uber, Lyft, Instacart, Postmates, etc...
These are great opportunities for folks looking to get a few extra bucks in the bank.
There is one big caveat to know about these positions. They are 1099 contractor positions, which means that federal, state, and other taxes are not withheld from your pay. This means more money in your pocket up front, but keep in mind, Uncle Sam wants his due.
These companies have to file paperwork with the state and federal government that shows who was paid and how much. At the end of the year, when it is time to file taxes, you will receive a 1099, 1099-MISC, 1099-K, etc...
You will use these forms to file your taxes for the year. You will owe your share of taxes at this time. Make sure that each payment you receive, you are setting enough aside to pay these taxes.
After countless months of job searching I got a job in the government . I was given a job offer which was later rescended after I told them I had not filed my 2017 taxes for which I had an extension for. I could not provide the verbal agreement from the IRS due to a government shut down . Wow what a heart break .