11/04 - Mutfruit Monday!

What do you prefer more?


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SarahAshlee90

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IMHO the quarterly thing is because while the government doesn't mind keeping your money for a whole year and people act goofy when they get a big tax refund each spring, but the government wants their money each quarter or you face a potential penalty for owing too much tax if you didn't send money to them throughout the year.

I pay estimated taxes each quarter and I do that by looking at what I earned that quarter and running a simulated 1040 to see how much tax I would pay on that amount and then sending my simulated tax owed as the estimated payment amount to the IRS on IRS form 1040-ES. State Government also gets its own estimated tax payment as well each quarter.
FYI the "penalty" for not sending them in quarterly is really low. I forget how they calculate it but for most Turkers it works out to only a few dollars.
 

skeletonjelly93

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FYI the "penalty" for not sending them in quarterly is really low. I forget how they calculate it but for most Turkers it works out to only a few dollars.
So would I be better off doing a yearly thing? Im still really confused on them. It kind of discourages me but I really enjoy this so far so I don't want to give up yet
 

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Title: People’s feelings about social events | PANDA
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Title: Scenario Survey ($0.25 for 2–3 minutes) (~ 3 minutes) | Accept
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So would I be better off doing a yearly thing? Im still really confused on them. It kind of discourages me but I really enjoy this so far so I don't want to give up yet
I keep a savings account with an estimate of how much I'll owe, and then at the end of the year I pay it. If you file jointly, it's possible that what your other-person pays in taxes ends up covering you (worked for us last year for ALMOST everything we owed, I think I ended up paying an extra 600?)
So if you can save without taking money out of it (like I do all the time :grimace: ) it works well lol
 

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You're probably lucky I fell asleep on the couch instead of giving you the panda for this last night Peachy @Peachy.
If it's the same requester then it's an absolute scam.
I was dead tired last night but probably still would’ve pushed through and done it. glad nothing happened if it is a scam requester
 

skeletonjelly93

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I keep a savings account with an estimate of how much I'll owe, and then at the end of the year I pay it. If you file jointly, it's possible that what your other-person pays in taxes ends up covering you (worked for us last year for ALMOST everything we owed, I think I ended up paying an extra 600?)
So if you can save without taking money out of it (like I do all the time :grimace: ) it works well lol
Im assuming the 600 is for a higher income lol. What if you don't make that much? what percentage do you end up paying? Also can we file jointly without being married?
 

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So would I be better off doing a yearly thing? Im still really confused on them. It kind of discourages me but I really enjoy this so far so I don't want to give up yet
If you want to face the penalty for not paying enough estimated tax even though it's been said it's relatively minor, you could pay yearly.

You also could face other penalties and interest if you are unable to pay your full tax amount due when you file your taxes and that could be more significant amount of money than an underpayment penalty. Probably easier to just figure out how much tax you owe each quarter and send it in while you have that money to send in.
 

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Im assuming the 600 is for a higher income lol. What if you don't make that much? what percentage do you end up paying? Also can we file jointly without being married?
I didn't make all that much last year, but this year will prob be higher. I do not think you can file jointly without being married and/or a legal partnership but I might be wrong.

Mostly my strategy is to give my tax guy all my info and then let him see what he can write off for us tbh.
 

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I didn't make all that much last year, but this year will prob be higher. I do not think you can file jointly without being married and/or a legal partnership but I might be wrong.

Mostly my strategy is to give my tax guy all my info and then let him see what he can write off for us tbh.
How much do they usually charge you at the tax office? For the filing and stuff. I can't really afford it but I can't really afford an IRS debt either. It's so frustrating. You would think they would have came up with a way to make this simpler.
 
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Im assuming the 600 is for a higher income lol. What if you don't make that much? what percentage do you end up paying? Also can we file jointly without being married?
Do you have employment outside of Mturk? Are you usually due a tax refund when you file your taxes? If so, your usual refund will help cover the taxes due on your Mturk income. The percentage you pay is going to depend on your personal situation. And I believe you need to be married in order to file jointly.
 

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Do you have employment outside of Mturk? Are you usually due a tax refund when you file your taxes? If so, your usual refund will help cover the taxes due on your Mturk income. The percentage you pay is going to depend on your personal situation. And I believe you need to be married in order to file jointly.
I dont now but I worked a few months earlier this year. I don’t think I made enough there to have to legally file but I may for assistance with this until I figure it out better
 

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Fifteen minutes from acceptance to do. Took me 11 minutes. Easy peasy.
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Title: Survey about political media and interpersonal interaction (10 min)(~ 10 minutes) | PANDA
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