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Another option besides what others mentioned: check if your employer reported your wages electronically to the Social Security Administration. You can create an account on ssa.gov and view your detailed earnings record. This won't have your withholding info, but it will show what wages were reported under your SSN. Also, if you have your final paystub of the year (the last one from December), it should have your year-to-date totals which will give you everything except for what you earned in January. For the unpaid wages, definitely file a complaint with your state labor board. In most states, you can get penalties added on top of your unpaid wages if they don't pay you within a certain timeframe after termination.
I just checked the SSA site like you suggested and was able to create an account! You're right, I can see my earnings there, though it only shows quarterly totals not the withholding info. Super helpful for figuring out what I made before January though! One more question - if I file using Form 4852 with my best estimates and later receive my actual W-2, do I need to amend my return?
Yes, if you receive your W-2 after filing with Form 4852 and notice any significant differences between your estimates and the actual W-2 amounts, you should file an amended return using Form 1040-X. However, if the differences are very small and don't affect your tax liability, the IRS generally doesn't require an amendment. The good news is that most employers electronically report W-2 information to the IRS, so even if you don't have the physical form, the IRS likely has your wage and withholding information in their system. This is why it's so helpful to speak with them directly about your situation.
I used to work in payroll, and just wanted to add - definitely check your last paystub from December because it should have your year-to-date totals for everything (earnings, federal withholding, state withholding, etc). That covers everything except your January earnings. For January, if you got paid via direct deposit, your bank statement will show exactly what you received. Then you just need to figure out the withholding for those January payments. Most payroll systems use the same withholding percentages unless you changed your W-4. So if your federal withholding was consistently 15% of your gross pay, you can apply that same percentage to your January earnings to estimate January's withholding.
Another thing to consider is that if you pay your taxes with a credit card (through H&R Block or any tax software), there's always a processing fee of around 2-3%. So even if you could get cash back on the tax payment (which you can't), you'd still be paying that processing fee which would likely cancel out much of the benefit. I usually just set up direct payment from my bank account through the tax software to avoid those fees completely.
What about using a credit card that gives really good cash back rewards? Would that make sense even with the processing fee? I have a card that gives 2% on everything.
Even with a 2% cash back credit card, you'd basically break even or lose money. The payment processors that handle IRS payments typically charge 1.87% to 3.93% depending on which one you use. If you get 2% back on your card but pay a 2.5% processing fee, you're still losing 0.5% overall. It's generally not worth it unless you have a special promotion or really need to meet a minimum spend requirement for a big bonus on your card.
Has anyone confirmed if the 16% is actually showing up in their Rakuten account after filing? Sometimes these offers have exclusions in the fine print. I saw it advertised but wanted to check if people are actually getting the full amount before I commit to H&R Block.
I filed last week using H&R Block Premium through Rakuten. The 16% cash back showed up in my Rakuten account within 2 days. I paid $89 for the software and got $14.24 cash back. Make sure you click through the Rakuten link directly and complete your purchase in the same session!
Another option - I use duplicate receipt books with "Buyer" and "Seller" clearly labeled at the top. That way I just fill in the info and circle which one I am in the transaction. Makes it super clear for tax time which role I was playing, especially when I'm buying from individuals.
Where did you find receipt books like that? I've looked at office supply stores but only find standard ones without those labels.
I actually got mine custom-printed online. It wasn't very expensive - about $15 for a pack of 5 books. Just search for "custom receipt books" and you'll find several companies that let you design your own layout. I added fields for "Item Condition" and "Serial Number" too since those are important in the computer parts business.
Don't overthink it honestly. I've been flipping computer parts for years and I just keep a google doc where I record all my purchases and sales. As long as you have some record of what you bought, when, and for how much, you're covered for basic tax purposes. Receipt books are great but not absolutely necessary.
Has anyone considered the potential partial interest rules here? If the property has a mortgage or if the OP is only donating a portion of the property rights, that complicates things significantly. The charitable deduction could be limited in ways beyond just the AGI limitations others have mentioned.
Don't forget about state tax implications too! Depending on your state, the rules for charitable deductions of property might differ from federal rules. Some states limit itemized deductions or have different AGI percentage limitations. In my state (CA), they have additional documentation requirements beyond what the IRS asks for.
Sophia Bennett
Don't overlook the Tax Institute's student guides! They were a lifesaver for me last year. They're written in much more straightforward language than the bigger textbooks and focus on practical applications. Still a bit pricey but worth every cent imo.
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Madison King
ā¢Are the Tax Institute guides updated every year? My main concern is spending money on resources that might become outdated with tax law changes.
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Sophia Bennett
ā¢Yes, they update them annually to reflect the latest tax legislation and rulings. That's actually one of their big selling points - you're getting the most current information, which is crucial in tax accounting where rules change frequently. The recent editions include all the changes from the last federal budget and recent ATO interpretations. Even if you buy last year's edition at a discount, the core concepts remain valid, but for specifics like rates and thresholds, you'd want the current version.
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Aiden Chen
Whatever book you get, supplement it with PwC's tax summaries - they're free online and way more readable than most textbooks. Helped me get thru my taxation subjects without losing my mind lol
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Zoey Bianchi
ā¢I second this! PwC's summaries are gold. Also check out the free CCH IntelliConnect resources if your uni library subscribes - saved me heaps of $$ on books.
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