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Calling paycheck experts

Chalanachithram.com DB » New TF Industry Related » Archive through August 03, 2015 » Calling paycheck experts « Previous Next »
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Bobby
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Posted on Monday, August 03, 2015 - 12:23 pm:       


Wellsfargo:

Brother I have already told you. social security tax is not tax deductible. so the total taxable amount is 200k in both cases.
Read the last paragraph from IRS..
http://www.irs.gov/taxtopics/tc503.html




hmm ok. got it...
 

Wellsfargo
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Posted on Monday, August 03, 2015 - 12:21 pm:       


Bobby:

In this case, you are paying less federal tax and more SSN tax. If you pay more SSN tax , that will come back , ofcourse whatever ratio ...but stil it is going to contribution where it has avenue to come back.

Total Income 200000
ssn 14396
Taxable Amount 185604

Total Income 100000 100000
ssn 12000 12000
Taxable Amount 88000 88000

Total Taxable Amount: 176000

annaya..if you feel otherwise, let us know..I think always running two paychecks is better if you are going beyond 200K .




Brother I have already told you. social security tax is not tax deductible. so the total taxable amount is 200k in both cases.
Read the last paragraph from IRS..
http://www.irs.gov/taxtopics/tc503.html
 

Bobby
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Posted on Monday, August 03, 2015 - 11:51 am:       


Vjawarrior:

.better to file jointly rathre than individually.




Always better, any time
 

Bobby
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Posted on Monday, August 03, 2015 - 11:49 am:       


Wellsfargo:

Naaku ardham kaaledu nee calculation. social security taxes are not tax deductable. Only state taxes are tas deductible that too if you are itemizing your deductions. The state taxes are deductible in any case whether you have one pay check or the other.

for 200k, In case of two pay checks of 100k each

social security tax : 24400
Medicare : 5800
Fed + state taxes on (200k-deductions)

In case of one paycheck
social security taxes : 14396
Medicate: 5800
Fed + state taxes on same (200k -deductions).

so what is more beneficial?




In this case, you are paying less federal tax and more SSN tax. If you pay more SSN tax , that will come back , ofcourse whatever ratio ...but stil it is going to contribution where it has avenue to come back.

Total Income 200000
ssn 14396
Taxable Amount 185604

Total Income 100000 100000
ssn 12000 12000
Taxable Amount 88000 88000

Total Taxable Amount: 176000

annaya..if you feel otherwise, let us know..I think always running two paychecks is better if you are going beyond 200K .
 

Wellsfargo
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Posted on Monday, August 03, 2015 - 11:41 am:       


Vjawarrior:

anduke married and both working aithe....better to file jointly rathre than individually.




eppudaina ade better..
 

Gotcha
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Posted on Monday, August 03, 2015 - 11:38 am:       


Maverick:


tax filing appudu ekkuva ssn kadite venaki vastundi
This Andhra real estate is for sale.
 

Vjawarrior
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Posted on Monday, August 03, 2015 - 11:34 am:       


Andhrawala:



Two payrolls run sesthee u end up paying SS Tax on the entire 240K

FOr single payroll SS tax limited to first 118K.

Federal and state tax remaisn same either if it is two 120Ks or a single 240K as husband+wife total income meedha federal and state tax are taxed


very well said bro...
anduke married and both working aithe....better to file jointly rathre than individually.
 

Wellsfargo
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Posted on Monday, August 03, 2015 - 11:13 am:       


Maverick:

my wife is ft and little short of that limit, when we file jointly, should that be handled by cpa or the software takes the combined income into account and says u paid excess ssn tax etc?




brother, ss taxes are the responsibility of the employers. the employee need not do anything to comply with the law. This tax is independent of the family status... you will not pay extra ss tax in normal conditions...
 

Andhrawala
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Posted on Monday, August 03, 2015 - 11:10 am:       


Bobby:

hmm ..ardham kaledhu .. do we pay tax on SSN tax deduction also?




Two payrolls run sesthee u end up paying SS Tax on the entire 240K

FOr single payroll SS tax limited to first 118K.

Federal and state tax remaisn same either if it is two 120Ks or a single 240K as husband+wife total income meedha federal and state tax are taxed
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Maverick
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Posted on Monday, August 03, 2015 - 11:09 am:       


All_day:



Maverick:

in joint filing, what if one of them is less than that number, but joint income crosses that number. how is that handled?


my wife is ft and little short of that limit, when we file jointly, should that be handled by cpa or the software takes the combined income into account and says u paid excess ssn tax etc?
Happy Vizag
 

Wellsfargo
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Posted on Monday, August 03, 2015 - 11:02 am:       


Maverick:

in joint filing, what if one of them is less than that number, but joint income crosses that number. how is that handled?




unfortunately you have to pay taxes on the highest number. Maaku california lo spouses entry level positions lo kaani, non Tech jobs chesthe it was better to stay at home as almost 45% of their wages was lost on taxes as it pushed the person into higher tax brackets due to the husband's high salary. Oka 50k salary vacchina spouse take home pay was just 26k or something which accounted for the wife working costs (extra costumes, more eating outside, kid's day care etc)
 

All_day
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Posted on Monday, August 03, 2015 - 11:00 am:       


Maverick:

kaasta detailed ga cheppandi ee point





Bobby:

the maximum amount of taxable earnings is $118,500. After that amount ,SSN dont take taxes on your earnings. its all Federal and State taxes




The current tax rate for Social Security is 6.2% for the employer and 6.2% for the employee, or 12.4% total.

Let's say your annual income is 150K (12.5K per month), you will be paying 12.5K * 6.2% ($775) as SS tax per month, your employer makes an equal contribution.

Once your gross earned income reaches $118,500 you won't be paying SS tax anymore. Your paycheck should see additional $775 per month. Federal and state tax continues to be deducted from your pay check.
The Only Thing We Have to Fear Is Fear Itself - FDR
 

Wellsfargo
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Posted on Monday, August 03, 2015 - 10:58 am:       


Bobby:

After 110K you dont need to pay SSN tax, but still you need to pay the Federal and State tax for the remaning amount?
for example: 200K salary,
they pay only SSN taxes 110K means around 7000(just assuming number), federal tax they pay after remaning on 110K-7K=103K
remaning amount 90K , they have to pay Federal and state on 90K?/

if you run two paychecks for same 200K salary
they pay only SSN taxes 110K means around 7000(just assuming number), federal tax they pay after remaning on 110K-7K=103K
remaning amount 90K , SSN tax might be 5K ,they have to pay Federal and state on 90K-5K=85K. So you are taking the amount to SSN tax instead of Federal ,state tax




Naaku ardham kaaledu nee calculation. social security taxes are not tax deductable. Only state taxes are tas deductible that too if you are itemizing your deductions. The state taxes are deductible in any case whether you have one pay check or the other.

for 200k, In case of two pay checks of 100k each

social security tax : 24400
Medicare : 5800
Fed + state taxes on (200k-deductions)

In case of one paycheck
social security taxes : 14396
Medicate: 5800
Fed + state taxes on same (200k -deductions).

so what is more beneficial?
 

Wellsfargo
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Posted on Monday, August 03, 2015 - 10:50 am:       


Bobby:

i am not sure on this, may be you are correct.
But If one person whose salary is 50K all years and other person salary is 100K all years. Both contributed to SSN tax as per their paycheck.
At the end of reteriment both get sames amount?? I read somewhere both get different amounts based on their contribution using Some formula




usually last 10 years before 59.5 years age meeda ekkuva dependent avuthundi. 40 years age lo kattina social security meeda takkuva depend avuthundi. Mana pension schemes like 401k is directly proportional where as social security benefits depend on lot of other factors...
 

Maverick
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Posted on Monday, August 03, 2015 - 10:48 am:       


Bobby:

if you are full time , pay software will take care, if you have your own company , then your CPA or Payroll sites should take care whoever is running your paychecks


in joint filing, what if one of them is less than that number, but joint income crosses that number. how is that handled?
Happy Vizag
 

Bobby
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Posted on Monday, August 03, 2015 - 10:45 am:       


Maverick:

is that automatically done by tax softwares and irs or we should explicitly do it so that we dont end up paying




if you are full time , pay software will take care, if you have your own company , then your CPA or Payroll sites should take care whoever is running your paychecks
 

Maverick
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Posted on Monday, August 03, 2015 - 10:42 am:       


Bobby:

the maximum amount of taxable earnings is $118,500. After that amount ,SSN dont take taxes on your earnings. its all Federal and State taxes


is that automatically done by tax softwares and irs or we should explicitly do it so that we dont end up paying
Happy Vizag
 

Bobby
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Posted on Monday, August 03, 2015 - 10:40 am:       


Maverick:

kaasta detailed ga cheppandi ee point




the maximum amount of taxable earnings is $118,500. After that amount ,SSN dont take taxes on your earnings. its all Federal and State taxes
 

Vjawarrior
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Posted on Monday, August 03, 2015 - 10:35 am:       

gagu...neeku vere employer telisthe...tell him to invoice ur employer for some services...and collect money in cash from other person.
anosaramgaa 40k vaadi degara daachi malli ela teeskuntaav without paying taxes
ainaa aa billing endi saami..super gaa nuvvu asalu....125/hr straight to the pocket is wall street stuff
 

Maverick
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Posted on Monday, August 03, 2015 - 10:32 am:       


All_day:

110K is 3 years old number, current gross income has to be $118,500 before you stop paying SS tax.




kaasta detailed ga cheppandi ee point
Happy Vizag
 

Bobby
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Posted on Monday, August 03, 2015 - 10:28 am:       


Andhrawala:


federal tax finally at the rime of return filing will be same




hmm ..ardham kaledhu .. do we pay tax on SSN tax deduction also?

All_Day

That is correct, i just took old 110K for calculation
 

All_day
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Posted on Monday, August 03, 2015 - 10:05 am:       


Bobby:

After 110K you dont need to pay SSN tax, but still you need to pay the Federal and State tax for the remaning amount?




110K is 3 years old number, current gross income has to be $118,500 before you stop paying SS tax.

http://www.ssa.gov/planners/maxtax.html
The Only Thing We Have to Fear Is Fear Itself - FDR
 

Bobby
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Posted on Monday, August 03, 2015 - 10:04 am:       


Gotcha:

both get different amounts based on their contribution using Some formula

idi confirm




yes, but wellsfargo saying they take only last year contributions. I dont think so.
 

Andhrawala
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Posted on Monday, August 03, 2015 - 10:00 am:       


Bobby:


if you run two paychecks for same 200K salary
they pay only SSN taxes 110K means around 7000(just assuming number), federal tax they pay after remaning on 110K-7K=103K
remaning amount 90K , SSN tax might be 5K ,they have to pay Federal and state on 90K-5K=85K. So you are taking the amount to SSN tax instead of Federal ,state tax




federal tax finally at the rime of return filing will be same. So u will loose whatver paid to SOcial securityyy
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Gotcha
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Posted on Monday, August 03, 2015 - 09:56 am:       


Bobby:

both get different amounts based on their contribution using Some formula


idi confirm
This Andhra real estate is for sale.
 

Bobby
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Posted on Monday, August 03, 2015 - 09:48 am:       


Wellsfargo:


How? after 110k you don't need to pay social security taxes. so you will save that taxes. you don't need to pay taxes at all.




After 110K you dont need to pay SSN tax, but still you need to pay the Federal and State tax for the remaning amount?
for example: 200K salary,
they pay only SSN taxes 110K means around 7000(just assuming number), federal tax they pay after remaning on 110K-7K=103K
remaning amount 90K , they have to pay Federal and state on 90K?/

if you run two paychecks for same 200K salary
they pay only SSN taxes 110K means around 7000(just assuming number), federal tax they pay after remaning on 110K-7K=103K
remaning amount 90K , SSN tax might be 5K ,they have to pay Federal and state on 90K-5K=85K. So you are taking the amount to SSN tax instead of Federal ,state tax





Wellsfargo:

these are social security taxes and not contribution towards some pension scheme. so manam pay chesinavi exact gaa manaki back ki raavu. just for qualification, your contribution counts. However the actual amount is dependent on your last few years of contribution.




i am not sure on this, may be you are correct.
But If one person whose salary is 50K all years and other person salary is 100K all years. Both contributed to SSN tax as per their paycheck.
At the end of reteriment both get sames amount?? I read somewhere both get different amounts based on their contribution using Some formula
 

Wellsfargo
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Posted on Monday, August 03, 2015 - 02:10 am:       


Bobby:

you need to pay taxes on these whatever you saved from not running 2nd paycheck.

then how can be better from not running 2nd paycheck.




How? after 110k you don't need to pay social security taxes. so you will save that taxes. you don't need to pay taxes at all.


Wellsfargo:

In SSN taxes , atleast you have amount in your SSN account till retirement, where you can use after retirement.




these are social security taxes and not contribution towards some pension scheme. so manam pay chesinavi exact gaa manaki back ki raavu. just for qualification, your contribution counts. However the actual amount is dependent on your last few years of contribution.
 

Wellsfargo
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Posted on Monday, August 03, 2015 - 02:03 am:       


Gandhiguevara:

but history okati start avuthundhi kadhaa




History evaru choostharu brother.
 

Chillarodu
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Posted on Sunday, August 02, 2015 - 07:14 pm:       

249 dhatithe mothaniki kalipi tax bracket maradhu.
It will be in slabs.

aa pain neeku 40K vasthe.. only aa 40K 250K bracket vuntadhi mothaniki kaadhu
 

Maverick
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Posted on Sunday, August 02, 2015 - 07:09 pm:       


Gandhiguevara:


employer hand ivvadu anukunte keep it constant..technically u cant even fight if he says fucxk off if u get gc and decide to go on ur own.
Happy Vizag
 

Bobby
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Posted on Sunday, August 02, 2015 - 06:24 pm:       


Wellsfargo:

o you will save $11904 compared to using two pay checks




you need to pay taxes on these whatever you saved from not running 2nd paycheck.

then how can be better from not running 2nd paycheck.

In SSN taxes , atleast you have amount in your SSN account till retirement, where you can use after retirement.
 

Gandhiguevara
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Posted on Sunday, August 02, 2015 - 05:34 pm:       


Wellsfargo:

To be technically correct, I assume you are referring to wife when you talk about inkokallu. If it is wife, I say it is better to use single person for pay check. You avoid social security taxes on 96k. so you will save $11904 compared to using two pay checks. so it is better to go with one pay check.


but history okati start avuthundhi kadhaa
 

Gandhiguevara
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Posted on Sunday, August 02, 2015 - 05:32 pm:       


Bobby:

Gandhi

In that scenario both works best

You pay ssn tax only till 110k
If you run both payrolls you will pay ssn tax 220k in your scenario, so you save some amount for future purpose for retriment

If you run only one pay check , then you pay only ssn tax till 110k
After that everything is federal and state tax , you will pay taxes , it will never come

Not sure on 401k plan


maa employer gaani daggara 401k plan laantivi emi levu....so 240k run cheyinchukuni oka 40 ....for a rainy day vunchudhaam ani...

so naa idea kudaa ilaa H4 EAD ki kudaa social security history start avuthundhi kadhaa ani...


Maverick:

u cant have too many deductions. mininum tax kattali for ur income. dont get under scanner


evari sommoo denne aalochana ledhu...just looking for an efficient way
 

Sesani
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Posted on Sunday, August 02, 2015 - 04:35 pm:       


Gotcha:


naadi so far antha daataledu bro.. Anduke asking ... Hence proved i am below poverty line..
 

Chiru_fan
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Posted on Sunday, August 02, 2015 - 04:30 pm:       


Gandhiguevara:



GaGu....250K jeetham antee....nuvvu keka appa!!
CHIRU - SACHIN - FEDERER
 

Gandhiguevara
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Posted on Sunday, August 02, 2015 - 04:22 pm:       

Chivariki edhi telchaaru? 1 pay check all amount? Or 2 ?
 

Maverick
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Posted on Sunday, August 02, 2015 - 03:56 pm:       


Siloan:

Ead kaakunda ssn kooda vundalanta ga sesu


vundalanta entehe..nuvvu fresh ga h1 meeda vacchinappudu first chesina pani enti? dhs work authorization lekunda how u can start working?
Happy Vizag
 

Siloan
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Posted on Sunday, August 02, 2015 - 03:03 pm:       

Ead kaakunda ssn kooda vundalanta ga sesu
 

Sesani
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Posted on Sunday, August 02, 2015 - 12:52 pm:       


Hadoop:

need to wait until it gets approved


... EAD card raakamundhu u cant start working...
 

Hadoop
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Posted on Sunday, August 02, 2015 - 12:25 pm:       

btw, oka gootle q....h4ead ki apply chesaka receipt vaste work cheyocchaa...or they need to wait until it get approved ?
 

Gotcha
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Posted on Sunday, August 02, 2015 - 12:24 pm:       

Babu sesani
If ur payscale crosses 200k u will hit amt.
This Andhra real estate is for sale.
 

Sesani
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Posted on Sunday, August 02, 2015 - 11:59 am:       


Farmer:

vaarni...inthaki theginchaadaa...gundelu theesina bantu laga vunndaee eee emc2....of course, i guessed he is a desamudhuru...


doctor saab... he himself opened a thread for long weekend.. oka job off inko job no holiday ani.. nen ventane konchen sesthe joke ani covering sesindu.. mana madhya normal ga untunna apara kuberudu... Naa laanti IT kufli gaallani nilabetti kontaadu EMC2... adi aayana range


Farmer:

vongunta v'kayal d'kukelthaad....


LOL..
 

Maverick
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Posted on Sunday, August 02, 2015 - 11:56 am:       

u cant have too many deductions. mininum tax kattali for ur income. dont get under scanner
Happy Vizag
 

Sesani
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Posted on Sunday, August 02, 2015 - 11:52 am:       


Rgb:

There is no limit kaani AMT (Alternate Minimum Tax) kicks in if you have too many deductions. No difference if houses are on one name or other


agree .. bkaani manam antha deductions pedtama bhayya?? an average IT coolie (which is the most common in desi indians) will probably have standard deductions plus mortgage interest and property taxes... i dnt think we hit AMT... unless property value has very high taxes.. of course well off desis case different..

Rgb:

I think that having income on one person is a little better since Social Security taxes will be a little lower.


but 2 payrolls meeda more SSN will be saved no??
 

Farmer
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Posted on Sunday, August 02, 2015 - 11:38 am:       


Sesani:

EMC2 is acting like swathy muthyam.. he himself worked on 2 projects in the past, I am sure...


vaarni...inthaki theginchaadaa...gundelu theesina bantu laga vunndaee eee emc2....of course, i guessed he is a desamudhuru....vongunta v'kayal d'kukelthaad....
 

Sesani
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Posted on Sunday, August 02, 2015 - 11:30 am:       


Emc2:

nuvvu nee depression comments, ellehey



Happydays:



Jalsa:

250k naaa...sesani that's veejee antunnaad... jeevithaaam lo soodalenu emo aa pigure




Nijam uncles... nen comedy sestunna anukuntunnara endi... naa x colleague okkadu worked on 3 projects simultaneously for few months... andula oka project billing 100 bucks an hr.. inka 2 projects la okkati SAP thoti inkoti maa client... no kidding... imagine how much he made for few months.. he is always open to work on multiple projects...

also inka friend 2 projects chestaadu simultaneously.. i have friends who make 200k single gaa.. forget abt family...

Ur underestimating the desis.. chusss..

Happydays and Jalsa ante ok... EMC2 is acting like swathy muthyam.. he himself worked on 2 projects in the past, I am sure... :D
 

Emc2
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Posted on Sunday, August 02, 2015 - 11:18 am:       

advantae of running pay check for spouse is SSC benefits for both

in case some thing happen to one of you you will get benefits,
 

Siloan
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Posted on Sunday, August 02, 2015 - 11:17 am:       

guvvesh rendu always betteru ....long run lo
 

Gotcha
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Posted on Sunday, August 02, 2015 - 11:12 am:       

Second house kinda konochu and mana desis ki rent ki ivochu
This Andhra real estate is for sale.
 

Kuyyo_morro
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Posted on Sunday, August 02, 2015 - 11:07 am:       

2 houses antunna andarki oka question. how can you have 2 houses if it is husband and wife working. since they will be living in the same house.

unless one house has been rented out and you have to show the rent as an income on tax.
 

Gotcha
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Posted on Sunday, August 02, 2015 - 10:37 am:       

Gagu follow my advice 2 paycheques u can 2 houses on separate names, market tank ayite oka house foreclosure ayina 2 nd vadidi effect avadu. Ade oka paycheque meeda 2 houses anuko oka foreclosure una ur credit history is effected and might lose both.
This Andhra real estate is for sale.
 

Wellsfargo
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Posted on Sunday, August 02, 2015 - 10:34 am:       


Gandhiguevara:

family cap 250 ki minchakundaa...oka 240k per annum run cheyyaali ante
okari peru meedha 144k and inkokalla peru meedha 96k run chesthe better aaa?
Leka motham okari peru meedhe run cheyyadam better aaaa?




To be technically correct, I assume you are referring to wife when you talk about inkokallu. If it is wife, I say it is better to use single person for pay check. You avoid social security taxes on 96k. so you will save $11904 compared to using two pay checks. so it is better to go with one pay check.

I assume that you don't have a qualified 401k plan with the employer who is running the payroll.
 

Kuyyo_morro
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Posted on Sunday, August 02, 2015 - 10:31 am:       

Gagu answer dorkinda. Am in the same boat as you now with H4EAD.

Company register chesukovatam better if one is in consulting and one FTE. Lekunte iddaru W2 mida undatam better aa.

Experts please suggest.
 

Twitter
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Posted on Sunday, August 02, 2015 - 10:29 am:       


Gandhiguevara:




cheroka 100k salary oka 40k lo sagam expense inko sagam 401k lo thosei ..lekka saripoddhi
 

Emc2
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Posted on Sunday, August 02, 2015 - 09:19 am:       


Farmer:




payroll run cheyadaniki ead or work ssn unte saripothadi

 

Farmer
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Posted on Sunday, August 02, 2015 - 09:08 am:       


Emc2:

gagu billing $125/hr, that goes to his company, company ki vachaka he can run pay roll for any body


aaa company ki work cheyyani vallaki payroll run sesthe illegal avudhi....
 

Jalsa
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Posted on Sunday, August 02, 2015 - 09:03 am:       

250k naaa...sesani that's veejee antunnaad... jeevithaaam lo soodalenu emo aa pigure
Only when the tide goes out do you discover who's been swimming naked - Warren Buffett
 

Emc2
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Posted on Sunday, August 02, 2015 - 08:55 am:       


Sesani:




nuvvu nee depression comments, ellehey

 

Happydays
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Posted on Sunday, August 02, 2015 - 08:52 am:       


Sesani:

endi 250k ki ali expression aa?? naa friends single ga 200k kodtunnaru with multiple projects...




 

Rgb
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Posted on Sunday, August 02, 2015 - 08:52 am:       


Farmer:

evari pay checks vallake vasthayi kadha valla peru meedha...ilaa elaa kaavaali ante alaa elaa run chesukuntaar ani asking




Corp pettukoni income only to corp. Paychecks can be paid to any employees. Works with corp to corp consulting
 

Emc2
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Posted on Sunday, August 02, 2015 - 08:52 am:       


Farmer:




gagu billing $125/hr, that goes to his company, company ki vachaka he can run pay roll for any body

adanna mata matter
 

Farmer
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Posted on Sunday, August 02, 2015 - 08:50 am:       


Emc2:



so neeku own clinic ledu ani ardham ayindi,

inka enni rojulu ila hospital lo paini chesthavu

oka super speciality hospital kattu


rekka aadithe kani dokka aadani badugu jeevulam unkl....nuvvu kadithe nenu manage sesthaa....
 

Emc2
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Posted on Sunday, August 02, 2015 - 08:45 am:       


Farmer:




so neeku own clinic ledu ani ardham ayindi,

inka enni rojulu ila hospital lo paini chesthavu

oka super speciality hospital kattu
 

Farmer
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Posted on Sunday, August 02, 2015 - 08:44 am:       


Mass:

farmer calm ga vundu leda musestaaa yay


nee aradhya devudu ciru ni emi analedhu gaa...enduku ban...uzles felo
 

Farmer
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Posted on Sunday, August 02, 2015 - 08:42 am:       


Bimmer:

Sunday breakfast ki halwa puri thinnava leda


..ippude poori chole thinnaa...no halwa...neekela thelisindhi..heyy eval nuvv
 

Mass
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Posted on Sunday, August 02, 2015 - 08:41 am:       


farmer:




farmer calm ga vundu leda musestaaa yay
 

Bimmer
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Posted on Sunday, August 02, 2015 - 08:39 am:       


Farmer:


Sunday breakfast ki halwa puri thinnava leda
 

Farmer
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Posted on Sunday, August 02, 2015 - 08:36 am:       

evari pay checks vallake vasthayi kadha valla peru meedha...ilaa elaa kaavaali ante alaa elaa run chesukuntaar ani asking
 

Rgb
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Posted on Sunday, August 02, 2015 - 08:18 am:       


Sesani:

hows does it matter when u file jointly?? if one person has both homes or one each... there is no limit as long as the loan is more than 1 million.. am i missing something here?




There is no limit kaani AMT (Alternate Minimum Tax) kicks in if you have too many deductions. No difference if houses are on one name or other

I think that having income on one person is a little better since Social Security taxes will be a little lower.

Marriage penalty teesesthe (in discussion in congress), then equally dividing between two is better
 

Sannayi_nokkulu
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Posted on Sunday, August 02, 2015 - 07:51 am:       


Gandhiguevara:


guvvesh nee client kada same tech job set seyyi.....work kuda helping seyyi...80-20 cheskundam...ala aina naaku ippudu vache daniki double vastadi...
OT review on Osaravell: Paatallo ayithe okko saari Micheal jackson videos ki Jr.NTR thala emanna athikinchaaraa anipinchindhi naaku....literal ga shocking ga vunnaayi konni steps ayithe.....so called heroes ayithe ee cinema teesinanni rojulu practice chesi vundaali
http://stream1.gifsoup.com/view7/20150210/5172520/chandrababu-naidu-dance-yoga-o.gif
 

Boglehead
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Posted on Sunday, August 02, 2015 - 07:41 am:       

Question artham kaaledu.
Mee question SS tax gurinchaa ledaa fed tax gurinchaa leda state tax aa or something else?
 

Sesani
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Posted on Saturday, August 01, 2015 - 11:49 pm:       


Hadoop:


btw.. nijamga friend aa .. naadi kaadu :D
 

Sesani
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Posted on Saturday, August 01, 2015 - 11:48 pm:       


Hadoop:

asalu tax brackets ela untayi baa..

i heard 150 250K, what is next ?


ivi federal tax rates baa...

http://www.bankrate.com/finance/taxes/tax-brackets.aspx

State di depends on state ba..
 

Sesani
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Posted on Saturday, August 01, 2015 - 11:41 pm:       


Gotcha:

Iddari per meda run cheyi buy houses on both names and get deductions


hows does it matter when u file jointly?? if one person has both homes or one each... there is no limit as long as the loan is more than 1 million.. am i missing something here?
 

Bobby
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Posted on Saturday, August 01, 2015 - 11:36 pm:       

Gandhi

In that scenario both works best

You pay ssn tax only till 110k
If you run both payrolls you will pay ssn tax 220k in your scenario, so you save some amount for future purpose for retriment

If you run only one pay check , then you pay only ssn tax till 110k
After that everything is federal and state tax , you will pay taxes , it will never come

Not sure on 401k plan
 

Hadoop
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Posted on Saturday, August 01, 2015 - 11:35 pm:       


Sesani:

Iddari peru meeda aithe better because tax filing appudu standard deductions will be more for married filing jointly vs. head of household... very minimal compared to 250k income... but still it matters




asalu tax brackets ela untayi baa..

i heard 150 250K, what is next ?
 

Hadoop
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Posted on Saturday, August 01, 2015 - 11:33 pm:       


Sesani:

aa friends single ga 200k kodtunnaru




 

Sesani
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Posted on Saturday, August 01, 2015 - 11:25 pm:       


Happydays:


endi 250k ki ali expression aa?? naa friends single ga 200k kodtunnaru with multiple projects...
 

Sesani
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Posted on Saturday, August 01, 2015 - 11:24 pm:       

Iddari peru meeda aithe better because tax filing appudu standard deductions will be more for married filing jointly vs. head of household... very minimal compared to 250k income... but still it matters
 

Gandhiguevara
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Posted on Saturday, August 01, 2015 - 11:14 pm:       


Gotcha:

Iddari per meda run cheyi buy houses on both names and get deductions


idhari peru meedha oka illu workout avvadhaa?
 

Gotcha
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Posted on Saturday, August 01, 2015 - 11:03 pm:       

Iddari per meda run cheyi buy houses on both names and get deductions
This Andhra real estate is for sale.
 

Vjawarrior
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Posted on Saturday, August 01, 2015 - 11:01 pm:       

U get 250k...damnnnn....that's my 4 year pay
 

Gandhiguevara
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Posted on Saturday, August 01, 2015 - 10:58 pm:       


Happydays:


thammudannayi serious kochen ye...

Evarno adigithe social security avi double kattadam deniki okalla peru meedhe run chesthe better annaadu...any idea?
 

Happydays
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Posted on Saturday, August 01, 2015 - 10:55 pm:       

 

Gandhiguevara
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Posted on Saturday, August 01, 2015 - 10:54 pm:       

family cap 250 ki minchakundaa...oka 240k per annum run cheyyaali ante
okari peru meedha 144k and inkokalla peru meedha 96k run chesthe better aaa?
Leka motham okari peru meedhe run cheyyadam better aaaa?

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