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Aviation Taxes - Need some help

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BoDEAN

Cabo Wabo Express
Joined
May 4, 2002
Posts
1,055
My last job didn't take out any taxes, and I only paid two out of thefour quarters to the IRS. My question is, the two other jobs Ihad, and one I have now, do have w2 forms for me. How will I knowif I owe any money to the IRS or not? Can I file normally on Turbo Tax,even though my one job took no taxes out, and I got no forms from theemployeer? We were responsible for filing/doing our own taxes to easethe burden off my old boss's shoulders
 
BoDEAN said:
My last job didn't take out any taxes, and I only paid two out of thefour quarters to the IRS. My question is, the two other jobs Ihad, and one I have now, do have w2 forms for me. How will I knowif I owe any money to the IRS or not? Can I file normally on Turbo Tax,even though my one job took no taxes out, and I got no forms from theemployeer? We were responsible for filing/doing our own taxes to easethe burden off my old boss's shoulders

Just do your taxes as normal. If you do owe, then Turbo Tax will determine if a penalty is owed. If you had enough taken out the rest of the year you will most likely be okay as far as penalties go.
 
Well I got my 1099-MISC from my previous employer. I am not sure if I need Turbo Tax Premium now or just the basic Turbo Tax (online). Should I forget about using turbo tax and go to H&R block?
 
I've been using Turbotax for over 10 years now. The main difference between the Basic, Deluxe, and Premium versions is the amount of videos, reference materials, etc. I would recommend the Basic version, since you can get most of the other "Help" info online anyway. Should go for about $20 at the discount stores. Online version should work as well.

Even with the 1099's and Estimated Tax Payments, doing your taxes on Turbotax is simply a matter of answering the questions yes or no and copying the information off of your tax statements.

(I'm a pilot, not a paid spokesman!!)
 
taxes suck

Taxes from multiple employers and multiple states. I live in CA and go through this every year. My employer is based in Arizona, I work in Nevada, but I'm a resident of California. Oh, I also do contract flying for 4 private individuals. My taxes suck. Here's what I've come to learn:

As far as federal, if you receive a W-2 or 1099 then you must claim the money and pay the tax. If you don't receive a statement (under the table work) you're required to report that also, but who's really going to know? But if you don't report it (other income), pay the tax and get it recorded, then you can never claim that income when you need it (like buying a house). Some years my contract flying was all I had, If I didn't report it there would be some serious low spots in my income. My advice, claim everything and pay the tax.

States are different but as a general rule have similar requirements to each other. Almost always you are required to pay state taxes to the state of your residence, regardless of where you earned that income. All state forms that I've used ask you to provide the federal adjusted gross income (this is all sources) as the basis for their taxation. However, if you paid money to another state, those funds are usually retrievable. For example, I owe 2000$ to the state of CA this year because the bulk of my federal AGI was from an employer in AZ. I paid 1940$ to the state of AZ in taxes. I filed an AZ non-resident tax return, used the correct schedule to claim a 1940$ credit, my tax liability was 0$, I'll be getting that money back from AZ.

If you didn't pay any state or federal taxes, well then your screwed. You have to pay taxes my friend. Same as the rest of us. I highly recommend using the tax act online filing. Use tax act (not tax net) link from the IRS website. http://www.irs.gov/app/freeFile/jsp/index.jsp? I think it's easier than turbo tax and it's totally free if you qualify. I think you have to make less than 130K per year to qualify and I'm not sure if you can claim uninsurance with the free deal. Totally free, I flied last week and the federal was zero dollars out of my pocket. They try to rope you into upgrading to the state for like 10$, but I chose not to. If you have a straight forward claim it's a piece of cake, yes/no fill-in-the-blank questions. Highly recommend it.

Good luck.
 
Last edited:
Free!

I don't know if you know this...

Go to the IRS.GOV site. From there find a link for an E-File. Then you can select from a number of companies, H&R Block and TurboTax included. Once you click on a company site, you are redirected and you are able to file for free. There is no charge this way.

If you go straight to HandRblock.com or Turbotax.com they will charge you.

Good luck
 
Thanks.
Turbo Tax is asking this question, not sure what to put.

Choose the source of the $XX,XXX in nonemployee compensation income from the list below. Self-Employed Business Income, Farm Income, Wage Income.

Not sure what that would be
 

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