W-2 Time Guys and Gals!

ComplexHiAv8r · January 31st, 2007, 16:42

OK, you should have your W-2's. What's the damage?

What is the % of gross to take home after taxes, medical, etc.

Thanks!

jtrain609 · January 31st, 2007, 16:52

I don't think I made enough money last year for them to take taxes out of me...

CaptChris · January 31st, 2007, 16:54

I will probably get food stamps sent back with my refund, just because they won't be able to figure out how I feed myself....

MQAAord · January 31st, 2007, 17:13

Still waiting for ours.........DL doesn't send them out until the very last possible moment. Why? Because they can.

Chris_Ford · January 31st, 2007, 17:25

Haven't gotten my work one yet... though it should be in the mail some time soon.

Right now I'm estimating $107,500-$109,000. We'll see.

I'm paying more in taxes this year than I will make in salary this year, probably.

MarkE · January 31st, 2007, 17:43

Quote:

Originally Posted by jtrain609

I don't think I made enough money last year for them to take taxes out of me...

hahah, dude. I'll buy you a beer next weekend!

higney85 · January 31st, 2007, 17:45

This is the one time of the year where its OK to not make much.. I dont think I broke 15K last year with 7 months instructing, 3.5 months in training where I was paid $200 as a "vendor" (dont ask me how a company does that!) and 2 first year FO paychecks.... Thank god I was still in college up until august! I am curious as to what some first year FO's made over the entire year with a mix of reserve and line flying... still not much for a few years to come however you look at it! I know you arent supposed to tell what you make but I find it funny of how little pilots make starting out when everyone thinks they make $250K a year out of the gate....

kellwolf · January 31st, 2007, 17:52

Well, the damage is in for us. Between both of us we cleared $23K! Woo hoo! Yeah, and we've got a kid. If we can make it on that, then damn. We'll be in shock when I upgrade.....

jtrain609 · January 31st, 2007, 17:55

Is that upgrade gonna be in a Beech, a Saab or an RJ? Or possibly a Q400?

kellwolf · January 31st, 2007, 17:58

Quote:

Originally Posted by jtrain609

Is that upgrade gonna be in a Beech, a Saab or an RJ? Or possibly a Q400?

Don't know. Don't care.

EatSleepFly · January 31st, 2007, 18:00

I did pretty decent. Already filed my state and federal, and should be getting a little over half of what Uncle Sam took back here in a few more days. I love refunds!

fly22 · January 31st, 2007, 18:10

W2. I wish it was that simple try 1099's, 1098's, 940 quarterly forms, dep. assets etc etc. I won't know where I am at for another week or so.

kellwolf · January 31st, 2007, 18:42

Heh, I've got a couple of those 1098s. Gotta love homeownership.....

BCTAv8r · January 31st, 2007, 19:44

Isn't there a deadline to receive these forms? I got the one from Motorola but not the one from the bagel place I worked over the summer. Should I call them?

fly22 · January 31st, 2007, 19:46

Today is the deadline.

Kristie · January 31st, 2007, 19:49

I had no idea there was a deadline! good thing i got mine last week!! I haven't seen dough's

EatSleepFly · January 31st, 2007, 19:49

Today is the day they have to be sent out by... not necessarily received. Unless I'm mistaken...

BCTAv8r · January 31st, 2007, 19:55

Missing Your Form W-2?

IRS TAX TIP 2007-22

You should receive a Form W-2, Wage and Tax Statement, from each of your employers for use in preparing your federal tax return. Employers have until January 31, 2007 to furnish a record of 2006 earnings statement either electronically or in paper form. Allow two weeks for 2006 earning statements mailed from employers via United States Postal Service (USPS).

If you do not receive your Form W-2, contact your employer to inquire if and when the W-2 was mailed. If it was mailed, it may have been returned to your employer because of an incorrect or incomplete address. After contacting your employer, allow a reasonable amount of time for your employer to resend or to issue the W-2.

If you still do not receive your W-2 by February 14th, contact the IRS for assistance at 800-829-1040. When you call, have the following information:

*
Employer's name, address, city, and state, including zip code.

*
Your name, address, city and state, including zip code, and Social Security number

If you misplaced your W-2, contact your employer. Your employer can replace the lost form with a “reissued statement.” Be aware that your employer is allowed to charge you a fee for providing you with a new W-2.

You still must file your tax return on time even if you do not receive your Form W-2. If you do not receive the missing information in time to file, you may file you may use Form 4852, Substitute for Form W-2, Wage and Tax Statement. Attach Form 4852 to the return, estimating income and withholding taxes as accurately as possible. There may be a delay in any refund due while the information is verified.

If you receive a Form W-2 or W-2C (corrected form) after you have filed your return using Form 4852, and the information differs from what you reported on your return, you must amend your return by filing a Form 1040X, Amended U.S. Individual Income Tax Return.

Form 4852, Form 1040X, and instructions are available on the IRS Web site, IRS.gov or by calling 800-TAX-FORM (800-829-3676).

killbilly · January 31st, 2007, 20:59

Still waiting on my W2s, although the 1099's are rolling in. It was funny to get a 1099 from American Airlines when the article I did was for SWA, since AA owned the magazine at the time.

I should be okay, but only by the grace of mortgage deductions.

This is the one time of year that I'm GLAD I have a rather obnoxious house payment....

ComplexHiAv8r · January 31st, 2007, 22:57

Quote:

Originally Posted by fly22

Today is the deadline.

Quote:

Originally Posted by EatSleepFly

Today is the day they have to be sent out by... not necessarily received. Unless I'm mistaken...

Yep, today to get postmarked....2/14 to recieve.

ESF - you need to adjust the W-4 to reduce the money you are giving the IRS....you don't get interest on it.....or have for beer!

Heath · January 31st, 2007, 23:10

Sad. First full year at Colgan. 3/4 year on first year pay, 1/4 on second year pay. I held a line all year in IAH. My gross for the year....

$18,800

Yeah, pilots make TONS of money, not!

I_Money · January 31st, 2007, 23:24

But it this way my refund was $3,000.

amorris311 · January 31st, 2007, 23:24

how do you live man? that is scary. hopefully this gets better soon.

Heath · February 1st, 2007, 00:26

Quote:

Originally Posted by amorris311

how do you live man? that is scary. hopefully this gets better soon.

No credit card or car loan debt, and a wife who's an RN.

I don't know how single guys make it on my paycheck.

amorris311 · February 1st, 2007, 00:30

yea neither do i! well like i said earlier i hope that the situation changes.

January 31st, 2007, 16:42	#1
ComplexHiAv8r Old Skool Join Date: Apr 2005 Location: OH or is it MX?? Posts: 4,881	W-2 Time Guys and Gals! OK, you should have your W-2's. What's the damage? What is the % of gross to take home after taxes, medical, etc. Thanks! __________________ ASEL Instrument 500+ TT Cirrus Driver Engineer Loving Spouse and Father Proud Foster Parent Get Busy Living, or Get Busy Dying....

January 31st, 2007, 16:52	#2
jtrain609 Old Skool Join Date: Feb 2002 Location: Park City, UT Posts: 12,869	Re: W-2 Time Guys and Gals! I don't think I made enough money last year for them to take taxes out of me... __________________ "Jetlink 2940, on another radio, contact clearance for new airways..."

January 31st, 2007, 16:54	#3
CaptChris Senior Member Join Date: Jul 2004 Location: Richmond, VA Posts: 556	Re: W-2 Time Guys and Gals! I will probably get food stamps sent back with my refund, just because they won't be able to figure out how I feed myself....

January 31st, 2007, 17:13	#4
MQAAord Super Moderator Join Date: Jun 2003 Location: The Looney Bin Posts: 9,624	Re: W-2 Time Guys and Gals! Still waiting for ours.........DL doesn't send them out until the very last possible moment. Why? Because they can. __________________ PPL SEL 100-ish TT Former AA F/A (12 months) Former Simmons/AE F/A (6 years) Former AE ground school instructor (1 year) Former AE IOE instructor (3 years) http://www.scentsy.com/ALsmith

January 31st, 2007, 17:25	#5
Chris_Ford Banned Join Date: Jul 2004 Location: Phoenix, AZ Posts: 7,329	Re: W-2 Time Guys and Gals! Haven't gotten my work one yet... though it should be in the mail some time soon. Right now I'm estimating $107,500-$109,000. We'll see. I'm paying more in taxes this year than I will make in salary this year, probably.

January 31st, 2007, 17:45	#7
higney85 Senior Member Join Date: Feb 2006 Location: Memphis,TN Posts: 528	Re: W-2 Time Guys and Gals! This is the one time of the year where its OK to not make much.. I dont think I broke 15K last year with 7 months instructing, 3.5 months in training where I was paid $200 as a "vendor" (dont ask me how a company does that!) and 2 first year FO paychecks.... Thank god I was still in college up until august! I am curious as to what some first year FO's made over the entire year with a mix of reserve and line flying... still not much for a few years to come however you look at it! I know you arent supposed to tell what you make but I find it funny of how little pilots make starting out when everyone thinks they make $250K a year out of the gate....

January 31st, 2007, 17:52	#8
kellwolf Old Skool Join Date: Jun 2003 Location: Memphis, TN Posts: 14,230	Re: W-2 Time Guys and Gals! Well, the damage is in for us. Between both of us we cleared $23K! Woo hoo! Yeah, and we've got a kid. If we can make it on that, then damn. We'll be in shock when I upgrade..... __________________ "I'm The Doctor, by the way. Run for your life!"

January 31st, 2007, 17:55	#9
jtrain609 Old Skool Join Date: Feb 2002 Location: Park City, UT Posts: 12,869	Re: W-2 Time Guys and Gals! Is that upgrade gonna be in a Beech, a Saab or an RJ? Or possibly a Q400? __________________ "Jetlink 2940, on another radio, contact clearance for new airways..."

January 31st, 2007, 18:00	#11
EatSleepFly Old Skool Join Date: Dec 2002 Location: ?? Posts: 4,600	Re: W-2 Time Guys and Gals! I did pretty decent. Already filed my state and federal, and should be getting a little over half of what Uncle Sam took back here in a few more days. I love refunds!

January 31st, 2007, 18:10	#12
fly22 Old Skool Join Date: Jul 2003 Location: UT, SLC Posts: 1,663	Re: W-2 Time Guys and Gals! W2. I wish it was that simple try 1099's, 1098's, 940 quarterly forms, dep. assets etc etc. I won't know where I am at for another week or so. __________________ Democrats- think you're too stupid to make your own financial decisions. Republicans- think you're too stupid to make your own personal decisions.

January 31st, 2007, 18:42	#13
kellwolf Old Skool Join Date: Jun 2003 Location: Memphis, TN Posts: 14,230	Re: W-2 Time Guys and Gals! Heh, I've got a couple of those 1098s. Gotta love homeownership..... __________________ "I'm The Doctor, by the way. Run for your life!"

January 31st, 2007, 19:44	#14
BCTAv8r Old Skool Join Date: Jul 2003 Location: Florida Posts: 6,255	Re: W-2 Time Guys and Gals! Isn't there a deadline to receive these forms? I got the one from Motorola but not the one from the bagel place I worked over the summer. Should I call them?

January 31st, 2007, 19:46	#15
fly22 Old Skool Join Date: Jul 2003 Location: UT, SLC Posts: 1,663	Re: W-2 Time Guys and Gals! Today is the deadline. __________________ Democrats- think you're too stupid to make your own financial decisions. Republicans- think you're too stupid to make your own personal decisions.

January 31st, 2007, 19:49	#16
Kristie Big Chief's Woman Join Date: Feb 2001 Location: Scottsdale, Arizona Posts: 19,291 Blog Entries: 3	Re: W-2 Time Guys and Gals! I had no idea there was a deadline! good thing i got mine last week!! I haven't seen dough's __________________ Wife of a Delta B767 ER F/O jetgirls.net

January 31st, 2007, 19:55	#18
BCTAv8r Old Skool Join Date: Jul 2003 Location: Florida Posts: 6,255	Re: W-2 Time Guys and Gals! Missing Your Form W-2? IRS TAX TIP 2007-22 You should receive a Form W-2, Wage and Tax Statement, from each of your employers for use in preparing your federal tax return. Employers have until January 31, 2007 to furnish a record of 2006 earnings statement either electronically or in paper form. Allow two weeks for 2006 earning statements mailed from employers via United States Postal Service (USPS). If you do not receive your Form W-2, contact your employer to inquire if and when the W-2 was mailed. If it was mailed, it may have been returned to your employer because of an incorrect or incomplete address. After contacting your employer, allow a reasonable amount of time for your employer to resend or to issue the W-2. If you still do not receive your W-2 by February 14th, contact the IRS for assistance at 800-829-1040. When you call, have the following information: * Employer's name, address, city, and state, including zip code. * Your name, address, city and state, including zip code, and Social Security number If you misplaced your W-2, contact your employer. Your employer can replace the lost form with a “reissued statement.” Be aware that your employer is allowed to charge you a fee for providing you with a new W-2. You still must file your tax return on time even if you do not receive your Form W-2. If you do not receive the missing information in time to file, you may file you may use Form 4852, Substitute for Form W-2, Wage and Tax Statement. Attach Form 4852 to the return, estimating income and withholding taxes as accurately as possible. There may be a delay in any refund due while the information is verified. If you receive a Form W-2 or W-2C (corrected form) after you have filed your return using Form 4852, and the information differs from what you reported on your return, you must amend your return by filing a Form 1040X, Amended U.S. Individual Income Tax Return. Form 4852, Form 1040X, and instructions are available on the IRS Web site, IRS.gov or by calling 800-TAX-FORM (800-829-3676).

January 31st, 2007, 20:59	#19
killbilly Old Skool Join Date: Jul 2006 Location: Austin, TX Posts: 3,262	Re: W-2 Time Guys and Gals! Still waiting on my W2s, although the 1099's are rolling in. It was funny to get a 1099 from American Airlines when the article I did was for SWA, since AA owned the magazine at the time. I should be okay, but only by the grace of mortgage deductions. This is the one time of year that I'm GLAD I have a rather obnoxious house payment....

January 31st, 2007, 23:10	#21
Heath Senior Member Join Date: Oct 2003 Location: Bowling Green, KY Posts: 303	Re: W-2 Time Guys and Gals! Sad. First full year at Colgan. 3/4 year on first year pay, 1/4 on second year pay. I held a line all year in IAH. My gross for the year.... $18,800 Yeah, pilots make TONS of money, not! __________________ Heath Martin, CFI, CFII, MEI --------------------------------------------------------------------- They say money talks. Mine keeps saying, "Goodbye!"

January 31st, 2007, 23:24	#22
I_Money Moderator Join Date: Jul 2000 Location: Socal Posts: 5,691	Re: W-2 Time Guys and Gals! But it this way my refund was $3,000.

January 31st, 2007, 23:24	#23
amorris311 Old Skool Join Date: Feb 2006 Location: Los Angeles soon to be phx Posts: 2,631	Re: W-2 Time Guys and Gals! how do you live man? that is scary. hopefully this gets better soon.

February 1st, 2007, 00:30	#25
amorris311 Old Skool Join Date: Feb 2006 Location: Los Angeles soon to be phx Posts: 2,631	Re: W-2 Time Guys and Gals! yea neither do i! well like i said earlier i hope that the situation changes.

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