Check to see if you qualify for the TurboTax Free Filing: www.anrdoezrs.net/click-100154634-13906760 My Tutorial Video on how to file your taxes on TurboTax: ruclips.net/video/HP3OY4Zst20/видео.html
Hi Veronica, honestly, it's looking like 50/50 right now. Usually it's a clear answer, but not this time. I wish I could be more helpful on that. @@veronicasiordia868
Tax laws can be so complex, and it’s super helpful to break them down like this. Understanding how different policies can impact our finances is crucial for making informed decisions.
Making profitable investments during this time of political change can be risky without that insight. For me, working with an adviser is the best first step to navigate these complexities and make informed choices.
I think having an investment advisor is the way to go. I've been with one because I lack the expertise for the market. I made over $490K during the recent dip, highlighting that there's more to the market than we average folks know.
Who out here 18 and filing their taxes rn 😭 ? I’m so happy I came across his page . Quick and easy explanations , walk-through’s , and further technique / advice . I wasn’t expecting him to make an updated version , but he honestly , truly blessed us !
We really need to just change the tax laws and FORCE the IRS to pay us our money without us doing anything just like how they take it from our paychecks every week without fail. The IRS knows exactly how much money it owes you but they choose to make you play guessing games instead of just sending the money they owe you back. They could. They just won't.
lets be real here, if this was taught in school most if not all would skip this class. most Americans already hate basic math so if this is taught everyone would hate it.
in many schools classes arent that easy to skip, and it can be incorporated into an existing class. nonetheless having it is better than not@@riftwalk2546
I’ve prepared individual income tax returns (PTIN) for 22 years at 2 of the largest national tax prep companies. Your basic description of tax preparation is on spot!!
I turn 19 in April and you just made taxes so clear. Like even as getting nervous while watching the video (bc once again first time). You made this so much lighter on my soul😂
Thank you my taxes are simple one income family of 7 no stocks and I would always pay someone to do until I found this RUclips channel that is was simple
I came looking how to prepare taxes to be self sufficient. The first thing you tell me is i shouldnt do it because im probably too dumb to do it. Nice. Remember folks, tax preparation services actively lobby for incomprehensible tax codes to make it hard to file taxes.
This is great info that I wish was taught in schools. Thanks for sharing your knowledge with people! I used to pay someone $300+ to file taxes. About 5 years ago, I started doing them myself. It’s fairly simple. Saves so much money!
Ive paid for years with turbotax and I have straight forward taxes under 50k always. Why does it charge me then? Does having dependents change things ?
Hey Brian, local chicago that’s been watching your videos since the beginning of the pandemic. Really appreciate videos like this helping us common folk. Was wondering if you could make this video in Spanish for all the…”new comers” 😅 we have here in the states. My barber and I were just discussing this earlier today. Thanks!
Very useful I was doing this with the tax consultant for many years but next year I am planning to do myself on IRS website. Can we do both federal and state filing together in IRS website?
The bill may be discussed next week in the house if they decide to fast track it, and if passed there it would then go to the Senate. It is far from being passed as of today
@@qdoodmore than likely that is done on purpose to not over flow the system and to put off the money the government needs to payout. It’s the pattern 😒
From where I can get federal identification number and whixh part of income is federal income. If I am filing for dependent like for myself and my husband I need to file form 1040
Hi Brian question for you, so if I pull out of my Roth IRA account only on my contributions to just deploy into another roth ira account, could that technically be considered an indirect rollover?
@@clearvaluetax9382Brian any news on the Child Tax Credit Expansion? I’ve halted my taxes waiting until I’ve heard back about this thing. Please give any info
My former apartment property owner refuses to send my Minnesota State Renters Rebate form to my new address. She's very unruly. How should I handle this??
I don’t have any federal taxes taken out because I need all that I can get on my check. If I owe and taxes at the end of the year, will the child tax credit offset that balance?? Thank you.
You definitely are supposed to report 401k withdrawals on your tax returns. Fidelity should automatically provide you tax form 1099-R by Jan 31st (usually it's accessible online somewhere in your Fidelity account). Similar to how an employer sends the W2 form info to you and the IRS...AND also to your state, Fidelity will send out your 401k withdrawal info. So, the taxing bodies are informed, but it's still your responsibility to report it on your return. When inputting the 1099-R info on the tax software, it should allow you an option to claim exemptions to the early withdrawal penalty, if applicable. Hopefully the amount(s) Fidelity took out of your withdrawal for each taxing body (Federal and State), cover any income tax applicable now that you'll have to include the withdrawal as part of income.
Brian, do you recommend setting up an LLC for each investment property you own, and if so, can TurboTax for single member LLCs handle the filing of tax returns? Would simply increasing ins coverage or adding an umbrella policy protect assets as well as an LLC?
That’s recommended to put each investment property into its own LLC for legal liability purposes (not for tax purposes). But this is very easy in Turbotax for tax purposes. Insurance is your first line of defense, your LLC is your last line of defense. Some people want 1 or none. Other people want both. Depends on your comfort level and circumstances.
Now that is mention I just received it. I also had the B and C copy(A had it stop by the middle of the year, due to cannot have Gold tier heath insurance with silver tier and hsa offer by employer)
Check to see if you qualify for the TurboTax Free Filing: www.anrdoezrs.net/click-100154634-13906760
My Tutorial Video on how to file your taxes on TurboTax: ruclips.net/video/HP3OY4Zst20/видео.html
Bryan do you think they will pass the child tax credit?
Hi Veronica, honestly, it's looking like 50/50 right now. Usually it's a clear answer, but not this time. I wish I could be more helpful on that. @@veronicasiordia868
Bryan do you know by when will we find out if it passes or not ?
29th
Can you do another video like this but geared towards gig worker's?
Tax laws can be so complex, and it’s super helpful to break them down like this. Understanding how different policies can impact our finances is crucial for making informed decisions.
Making profitable investments during this time of political change can be risky without that insight. For me, working with an adviser is the best first step to navigate these complexities and make informed choices.
I think having an investment advisor is the way to go. I've been with one because I lack the expertise for the market. I made over $490K during the recent dip, highlighting that there's more to the market than we average folks know.
Hmmm this is quite interesting, Please can you leave the info of your investment advisor here? I’m in dire need for one.
Nicole Anastasia Plumlee can't divulge much. Most likely, the internet should have her basic info, you can research if you like.
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get.
Who out here 18 and filing their taxes rn 😭 ? I’m so happy I came across his page . Quick and easy explanations , walk-through’s , and further technique / advice . I wasn’t expecting him to make an updated version , but he honestly , truly blessed us !
Doing them right now, his guides are super simple. I am 19 and know how to file now with ease.
Thank you for that feedback and all the support, I appreciate it very much Taylor!
Yo 17 and this first video I watched. So relieved I found him.
Me when I have to be an adult for the rest of my life now and do this every year: 🙃🙃🙃🙃
Bro I’m standing on the block rn watching this shit and I’m 18😂😂😂
This needs to be taught before leaving high school! Thanks for your high quality content
We really need to just change the tax laws and FORCE the IRS to pay us our money without us doing anything just like how they take it from our paychecks every week without fail. The IRS knows exactly how much money it owes you but they choose to make you play guessing games instead of just sending the money they owe you back. They could. They just won't.
It was taught at my school as an elective
It’s not intentionally
lets be real here, if this was taught in school most if not all would skip this class. most Americans already hate basic math so if this is taught everyone would hate it.
in many schools classes arent that easy to skip, and it can be incorporated into an existing class. nonetheless having it is better than not@@riftwalk2546
I’m 21 who isn’t sharp about adulthood and feels really insecure about it. I’m glad to come across this video💕
Great job making what can be a stressful topic simple. I'm a fan of turbo tax, too. I've been using them for the past 9 years.
I used to buy the CDs in Costco. 😂. Haven't been audited yet but my taxes are simple.
Just remember your taxes money funded wars and illegals than Americans
This is gonna be my second time filing as self employed and I messed up the first time. Please do another video for those self employed
i’m 21 and this is my first time doing it without my dad and this helped so much tbh
I cannot thank you enough for this, I am 22 years old just now learning taxes. But i'm greatly to learn now!!
I’ve prepared individual income tax returns (PTIN) for 22 years at 2 of the largest national tax prep companies. Your basic description of tax preparation is on spot!!
Turbo Tax is so easy and now Brian walks us through it. It doesn't get any better than that folks.
THank you for all the support FunnyGirl3351! I appreciate it so much!
you're the OG man, appreciate you for spitting this knowledge for free, God bless you.
Salute to this man
Good job. I am one of your regular subscriber customer. Thanks for explaining everything clearly.
THank you for all the support Aviation Videos! I appreciate it so much!
I turn 19 in April and you just made taxes so clear. Like even as getting nervous while watching the video (bc once again first time). You made this so much lighter on my soul😂
Great basic explanation! 👌 Should teach this in schools!!
Excellent intro to personal income taxes, Brian!
Thank you for all the support Erethynentzar!
Honestly I feel way better after this video
I’m happy to hear that shosilva!
Phenomenal video, concise & short which addressed the question. Keep up the good work!
This is the perfect video for my kids to learn. Thank you!
Thank you truehawj and I hope this veideo helps your children!
Thank you! I will always remember you for your generosity in teaching it to us.
That's so kind of you and I appreciate the support so much, thank you 123hhww!
I appreciate the info. Will be preparing tax service for taxpayer this year.
Thanks for this Brian and all that you do here!!!
I appreciate the support so much, thank you DWes!
One of many topics that I wish was taught to me in grade school.
Concise and informative. Good step-by-step teaching tool. I will use it with my family members.
Thank you for all the support!
Excellent video! Thank you so much for your hard work!
I want to be the 1st to say congratulations on 2 million subscribers
I appreciate that Shannon! I believe it may happen in February!
Thank you for providing so much valuable knowledge!
Thank you for all the support Isaac!
Thank you my taxes are simple one income family of 7 no stocks and I would always pay someone to do until I found this RUclips channel that is was simple
I used to do the 1040 EZ form for years
The visuals are so helpful 😮❤
Thank you for that feedback!
But thanks to this gentleman man he made mw understand everything about taxes with in Minutes
Thank you for all the support!
This should be taught in school so thank you for this video!
Awesome video! the only the thing I would love to see you cover is Filing Status & the different options. Your vides are great, thank you.
THANK YOU MY FAMILY IN BOSTON WILL SERIOUSLY NEED THIS!😍👀🐷 thank you ALWAYS! And thank you for being on youtube!
This really really helped me so much! Thank you
Really appreciate this. Keep up the beautiful work
Very good overview. In short order. Thanks.
honestly they should teach this in high school
I wish I had seen this video before learning it on my own
Excellent video!
Thank you very much for your hard work.
I ❤ your videos! Thank you for always sharing your knowledge & providing helpful insights.
It's my pleasure and thank you for all the support snogletree!
This tutorial was awesome! thank you so much!
Thank you so much for the great info!!
Thank you for all the support bmanisap!
I came looking how to prepare taxes to be self sufficient. The first thing you tell me is i shouldnt do it because im probably too dumb to do it. Nice. Remember folks, tax preparation services actively lobby for incomprehensible tax codes to make it hard to file taxes.
Very helpful and informative
Thank you for this video Brian!
Thank you for the support Nuclear Chicken!
Thanks for your information is very importante for everyone
Doing them tonight wish me luck
Thank you for explaining. I have no idea of how taxes work.
1st year claiming social security...did you cover the 3 ways you can determine that tax hit?
There's a silly formula invented by the bean counters,add and divide and subtract and then multiple and subtract again, can't have simple in the IRS 😢
Happy Friday Brian!!! Have a great weekend!☀️🌺
Happy Friday Rose Bloom!
Could you cover how to do crypto taxes or how to how for an accountant that does crypto taxes
I lost money in crypto and stocks I know I don’t pay taxes on losses but I’m wondering, do I file?
I always pay someone to do my taxes, after this video I think I’m gonna do it myself
very informational video, thank you!
Thanks for sharing Brian. I'm new here.❤
Thank you for all the support and welcome pajkubthoj!
Hey Brian, did they pass the child tax credit yet?
It could be brought up in the house next week
@@qdoodlmao next week.folks not gonna wait
Not yet, I will update on that next Samrocco.
Thx for keeping us up to date! 🫡
@@bossedup957more than likely it’s done like that on purpose. Most likely to not overflow the system, and for the government to hold out on paying
Thank you much! You have made this easy & I love how simple you made it... Where are you located??? Would love to use you next year...
This is great info that I wish was taught in schools. Thanks for sharing your knowledge with people!
I used to pay someone $300+ to file taxes. About 5 years ago, I started doing them myself. It’s fairly simple. Saves so much money!
Oh my goodness, it’s always so wonderful to see you Jill!
clearvalue tax r u a gamer? i like ur taxes!
I might use free tax USA … good idea? I’ve been using turbo tax for about 3 or 4 years
Just make sure all your carry-forwards are reflected on the new software.
Yep, FreeTaxUSA is great. As Brian said, just make sure to look up any carryforwards on last year's return
awesome, as always!
Ive paid for years with turbotax and I have straight forward taxes under 50k always. Why does it charge me then? Does having dependents change things ?
i was eligible for free filing and turbo tax forced me to pay when i was nearly done filing my return. I switched to freetaxusa. much better
You're the man ! Thanks 👍
Would love to see video for independent contractors
Hi Brian, happy Friday bud!
Happy Friday to you Midnight Toker!
Any word on the $3600 child tax credit?
Thanks Brian 😊 😊
I have both 1099 and W-2 this year for the first time and I’m timid about it because I feel like the tax preparer will fail somehow
Hey Brian, local chicago that’s been watching your videos since the beginning of the pandemic. Really appreciate videos like this helping us common folk. Was wondering if you could make this video in Spanish for all the…”new comers” 😅 we have here in the states. My barber and I were just discussing this earlier today. Thanks!
The "new comers", understood! Yes, I'll definitely have to do that, good suggestion!
Very good information ..thx
If you have a llc biz, can you offset crypto gains with deductions from your biz? thnx Brian!!!
Yes you can. You do that on the schedule C.
New IRS $600 rule delayed? For This year too ??
Yes Legoboost, that rule is delayed for another year.
Awesome !! Thank you for all you do !!
Is there free tax software for if you made money in 2 different states? Need to file federal, state 1 and state 2.
Not that I'm aware of. CashApp Tax is limited to 1 state. Probably the cheapest would be FreeTaxUSA which is free for Federal and $15 per state.
Very useful I was doing this with the tax consultant for many years but next year I am planning to do myself on IRS website. Can we do both federal and state filing together in IRS website?
Is the child tax passed can i file my taxes or do i wait intil monday?
The bill may be discussed next week in the house if they decide to fast track it, and if passed there it would then go to the Senate. It is far from being passed as of today
It depends on whether you’re in the affected group or not
@@qdoodmore than likely that is done on purpose to not over flow the system and to put off the money the government needs to payout. It’s the pattern 😒
@@clearvaluetax9382 My Wife and I are filing jointly and we have a 3 months old child. do we qualify for child tax credit they're passing?
@@clearvaluetax9382 i am in the affected group
Amazing content thanks
Thank you Zainah for all the support!
Thanks again Brian
Great video.
Thank you for all the support!
From where I can get federal identification number and whixh part of income is federal income. If I am filing for dependent like for myself and my husband I need to file form 1040
If the IRS knows everything, why do we need to file our taxes?
Exactly 😂
Lol they don’t know your deductions
Hi Brian question for you, so if I pull out of my Roth IRA account only on my contributions to just deploy into another roth ira account, could that technically be considered an indirect rollover?
That’s correct, if you withdraw, then it would not be a direct rollover.
If it doesnt touch your hands it’s direct.
@@clearvaluetax9382Brian any news on the Child Tax Credit Expansion? I’ve halted my taxes waiting until I’ve heard back about this thing. Please give any info
Thanks Brian
Thank you Bobby for all the support!
never got back to us about the child tax care credit it’s past the 26th. Should we file now?
I said it’s the 29th. The IRS starts processing tax returns the 29th. I will update you on the 29th.
Hi Brian, did congress pass the child tax credit expandsion yet?
Brian, im still waiting to know too
Not yet
@funtechu okay thank you
It's dips into our pockets way too much! Tax burden needs to be lowered!
My former apartment property owner refuses to send my Minnesota State Renters Rebate form to my new address. She's very unruly. How should I handle this??
I don’t have any federal taxes taken out because I need all that I can get on my check.
If I owe and taxes at the end of the year, will the child tax credit offset that balance?? Thank you.
Ok hun..I took shower and waiting for you two..
Child tax credit updates Brian?
It's stuck in Congress for now
Hi Brian do I have to report my 401k income that I took out for hardship, even if I already paid the 10% penalty fee to Fidelity?
Unfortunately they count it as income so if you made $50k and pulled out $20k from retirement then they count you as making $70k.
You definitely are supposed to report 401k withdrawals on your tax returns. Fidelity should automatically provide you tax form 1099-R by Jan 31st (usually it's accessible online somewhere in your Fidelity account). Similar to how an employer sends the W2 form info to you and the IRS...AND also to your state, Fidelity will send out your 401k withdrawal info. So, the taxing bodies are informed, but it's still your responsibility to report it on your return. When inputting the 1099-R info on the tax software, it should allow you an option to claim exemptions to the early withdrawal penalty, if applicable. Hopefully the amount(s) Fidelity took out of your withdrawal for each taxing body (Federal and State), cover any income tax applicable now that you'll have to include the withdrawal as part of income.
@@gio7388that's so f*cked.
@@danielj6880 thank you kindly I really appreciate it, since I do my own taxes on Turbo tax. 🙏🏻☺️
Yes, that MUST be reported. It’ll be the 1099-R tax form you’ll receive.
Very helpful! Well executed video. Wish I had access to this video at an early point in my life. 🎉
Any update of child tax credit?
Is taxact good one to file your taxes? Will be my first time doing it by myself. I qualify for free
It's decent. I personally like CashApp Tax because it's free for both federal and state.
how to report 1042-S ($25) together with W2 - under other income? or as interest?
Do you have recommendations for books/learning materials that could help me study/pass the SEE exam?
Thank you for all the help and info. I have one question, im receiving survivors benefits for my kids, do I file that?
Brian, do you recommend setting up an LLC for each investment property you own, and if so, can TurboTax for single member LLCs handle the filing of tax returns? Would simply increasing ins coverage or adding an umbrella policy protect assets as well as an LLC?
That’s recommended to put each investment property into its own LLC for legal liability purposes (not for tax purposes). But this is very easy in Turbotax for tax purposes. Insurance is your first line of defense, your LLC is your last line of defense. Some people want 1 or none. Other people want both. Depends on your comfort level and circumstances.
I'm surprised you didn't bring up the 1095-A form.
I have that to.ACA
Now that is mention I just received it. I also had the B and C copy(A had it stop by the middle of the year, due to cannot have Gold tier heath insurance with silver tier and hsa offer by employer)
Can we do taxes now if we have kids or still wait till the 29th?
Any update on the child tax credit??
Right! I halted my taxes per his instruction and it’s like crickets now