BigLaw Tax Returns Forum
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Anonymous Posting
Anonymous posting is only appropriate when you are revealing sensitive employment related information about a firm, job, etc. You may anonymously respond on topic to these threads. Unacceptable uses include: harassing another user, joking around, testing the feature, or other things that are more appropriate in the lounge.
Failure to follow these rules will get you outed, warned, or banned.
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Anonymous User
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BigLaw Tax Returns
How much are you getting back this year? NYC second-year (renter) expecting 4k back (federal and state). Does that sound right to yall? Federal was itemized and state used the standard deduction. Thanks.
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sublime
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Re: BigLaw Tax Returns
What did you itemize?
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moreheesh
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Re: BigLaw Tax Returns
state/local taxes - didnt mean to post anon at first
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Anonymous User
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Re: BigLaw Tax Returns
I'm surprised you get a refund back. I always have to pay at the end of the year!
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elendinel
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Re: BigLaw Tax Returns
That seems like a lot to me, but I don't know your finances.
Is it because of the rent credit for NYC?
Is it because of the rent credit for NYC?
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Anonymous User
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Re: BigLaw Tax Returns
You run AMT calculation? You can get slammed by this when in high tax state/city (ie NYC). I ended up owing $10k additional.
What's "NYC rent credit" mentioned?
What's "NYC rent credit" mentioned?
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Anonymous User
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Re: BigLaw Tax Returns
I'm not sure if anybody else has this issue, but I'm a first year and I received a bar review bonus. I believe that because I wasn't a resident of any state that our offices are located last year, I didn't pay state taxes on the bonus. But on my w2, the bonus is included in my NY state taxable income for the year. So now I owe NY taxes on that amount. Has anybody else had this issue? Should I contact HR to see if they should redo my w2?
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dixiecupdrinking
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Re: BigLaw Tax Returns
Pretty sure you owe state taxes on it regardless of where you lived.Anonymous User wrote:I'm not sure if anybody else has this issue, but I'm a first year and I received a bar review bonus. I believe that because I wasn't a resident of any state that our offices are located last year, I didn't pay state taxes on the bonus. But on my w2, the bonus is included in my NY state taxable income for the year. So now I owe NY taxes on that amount. Has anybody else had this issue? Should I contact HR to see if they should redo my w2?
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elendinel
- Posts: 975
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Re: BigLaw Tax Returns
I'm also pretty sure this is true.dixiecupdrinking wrote:Pretty sure you owe state taxes on it regardless of where you lived.Anonymous User wrote:I'm not sure if anybody else has this issue, but I'm a first year and I received a bar review bonus. I believe that because I wasn't a resident of any state that our offices are located last year, I didn't pay state taxes on the bonus. But on my w2, the bonus is included in my NY state taxable income for the year. So now I owe NY taxes on that amount. Has anybody else had this issue? Should I contact HR to see if they should redo my w2?
You should also be filling out tax forms for the state where you did reside. E.g., if you lived in CT and commuted to your NYC office, you need to fill out federal, NY, and CT tax forms. This applies even if you only lived in another state for half a year or so, and then moved to NY (e.g., you went to school in Yale and then moved over to NYC after the bar). You'll just have to specify that you spent half the year in NY and half in CT, so that you don't get penalized double for the times where you did not live in one of the two states.
