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MP4VT2004

Joined: 9/9/07 Posts: 9380
Likes: 5016


Basically correct - by "untaxed" I meant there are no witholdings...


...but it shows up on my W-2 as income, so at the end of the year, I essentially "owe" taxes on this compensation, which lowers the amount of expenses that it actually covers.

The new tax laws didn't really change the fact that this money is taxed; they just negated my ability to deduct my itemized job-related expense deductions to offset paying taxes on compensation that in reality is not income.
[Post edited by MP4VT2004 at 02/13/2019 01:01AM]

(In response to this post by VTSnake)

Posted: 02/13/2019 at 12:55AM



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Current Thread:
 
  
CPA: What % of your clients are actually paying more? -- VaAkita 02/12/2019 12:10PM
  Yes 80 percent paid less in taxes -- capitals1 02/12/2019 1:12PM
  You don't sound snarky. -- MP4VT2004 02/13/2019 12:50AM
  I understand your premise -- RTFC 02/13/2019 10:19AM
  That's not how I understood it -- RTFC 02/12/2019 4:26PM
  Sorry, I didn't explain it very well. -- MP4VT2004 02/13/2019 12:57AM
  Media spinning it ** -- DaveVT 02/12/2019 12:36PM

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