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Tax qustion about Unemployment



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Old 12-05-2009, 08:26 AM   #1
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Tax qustion about Unemployment

Hey anyone. Know how bad uncle sam well hit me up off the time i was on unemployment. Think i got paid like $10,000 for the time i was on it.

Second anything i can do to help the amount im going to have to pay back in.

What sucks is sold are house and lost money on it. I bought a ton of stuff for my new job, tools, boots. And my new job is the most ive ever made per hour.
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Old 12-05-2009, 08:36 AM   #2
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Ask a professional tax person!!

I know unemployment will send you a statement of the $'s they paid you and you will have to claim that as income.

All the stuff you bought new for work is a write off -- but it is not going to amount to much of one -- I know cause we are both self employed and it really sucks that the write off is no where near the amount you paid for the stuff!!

Just my 2 cents from experience!
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Old 12-05-2009, 10:08 AM   #3
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Your unemployment is taxable. You do not have to pay it back. Whether you have other deductions beyond the standard will play into it. You didn't say if you were married or single or head of household (kids). All these will factor in to your deductions.
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Old 12-05-2009, 10:55 AM   #4
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I know the work stuff(over$1200 tools/cloths) is a write off along with other standard wrote off stuff.

But when you do your unemployment you can have tax's pulled out. But you cant set the amount by deductions. So most dont. Because they make sure you pay in more then enough..

We do most of are own tax's. Im guessing i mite have someone do them this year. I know im going to have to pay in. But it would be nice to know a ball park so i can put some away.

i was just seeing.
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Old 12-05-2009, 11:06 AM   #5
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get turbotax, it should help you out with it. (if it's out yet)
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Old 12-05-2009, 11:13 AM   #6
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Quote:
Originally Posted by RamRock View Post
I know the work stuff(over$1200 tools/cloths) is a write off along with other standard wrote off stuff.

But when you do your unemployment you can have tax's pulled out. But you cant set the amount by deductions. So most dont. Because they make sure you pay in more then enough..

We do most of are own tax's. Im guessing i mite have someone do them this year. I know im going to have to pay in. But it would be nice to know a ball park so i can put some away.

i was just seeing.
You have the right to address Austin and request that Federal Income Tax be withheld from your check. You are allowed to designate any amount you wish.

Go to www.irs.gov and look for last years 1040 booklet. Inside it will have the tax tables for last year. Look for the total of you UI and you can estimate the tax amount based solely on that figure. Remember, it doesn't take into account any standard deduction or deductions you may have over the standard if you itemize.

That should give you an estimated answer.
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Old 12-05-2009, 11:15 AM   #7
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Thanks
Well i just got back to work 2.5 months. So last year's wont have nothing to do with this years taxs.

But im glab to know were i can go look at that stuff.
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Old 12-05-2009, 02:46 PM   #8
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I got laid off in Sept of 07 and got unemployment for like 3-4 months and did not have the taxes taken out. When I figured my taxes the following February I was getting back like $12-1300 bucks. When I entered the untaxed unemployment I owed money.....they hit you pretty HARD! On those work deductions you might as well roll that up and smoke it. $1200 bucks aint enuff to worry about. I doubt you will get a red cent in regards to that. Good luck.
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Old 12-05-2009, 03:25 PM   #9
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If you had the house under two years and lost money on it you might be able to do something with that. For a 10,000 check you are looking at 15-20% taxes.
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Old 12-06-2009, 07:42 AM   #10
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I look for the tax on unemployment benis to get an overhaul pretty soon. With the mass amounts of folks getting ready to have to do their taxes and the midterm elections coming up some folks on the hill are going to have to save a bunch of votes. I wouldn't bet the farm on it though, so don't get mad at me if the rest of your income or family heritage doesn't qualify you for the reduction.
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Old 12-06-2009, 08:37 AM   #11
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Well see. I know there going to hit me up pretty good. I have a good mount in savings from sale my big trailer. So paying them off isnt a biggy.

The way i do my tax's over the last couple years is to play-in just enough. I mite bearly get a return. But i get farther ahead dear the year. 75% of returns are blown. So most hurt all year long. And at the end of the year blow it or get farther into debt.

Its been a crappy year. Still isnt that great. Im making good money at my new job. But the guy i was hired to cover was going to leave in a month and a half. After i got on my feet. Played his cards/mind games right. And is now staying. They made him floor forman and way more $$$$. And his sucks to work for. Freakin Mr.Perfect power trip and dosent know how to talk to works. And is full of b.s.
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