All Hokie, All the Time. Period.

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Joined: 09/09/2007 Posts: 15065
Likes: 11723

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
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