Episode 20: Tax Season! (aka Cuffing Season for men)

Tax Season! (aka Cuffing Season for men)
The loser’s guide to Tax Bae and other tax laws.

This week Ann, Becky, and Dan talk taxes and tax bae!

Tax season, also known as cuffing season for men because in our community it’s not uncommon for single men to prey on single mothers with multiple children in order to claim their children as dependents. After claiming the woman’s children and receiving his refund, an experienced Tax Season cuffer will then proceed to spend much of the woman’s refund before dumping her.

Tax Season Common Misconceptions (True/False): 
1. You have until April 15th to file your tax return or you’ll be penalized.
2. You can claim your spouse/significant other as a dependent.
3. You don’t need to file if you make under a certain amount of money.
4. If you’re married, you can still file head of household.
5. You can only claim your child until they’re 18.
6. If you’re a working student you don’t have to file taxes.
7. There can be multiple heads of households at one address.
8. You can claim child support as a deduction.
9. You can claim alimony as a deduction.

Questions from Uber/Lyft drivers: 
1. Why don’t I receive a W2 and what the hell is a 1099-K?
2. Why aren’t taxes taken out of my earnings and is this why I owe the IRS?
3. Can I have taxes withheld?
4. If so, how much should I have withheld?
5. My tax preparer/software tells me I’m self-employed but I work for Uber, right?
6. What can I claim as far as expenses?
7. Can I still get EIC?
8. Do I have to pay taxes on Uber’s cut of the payments?

Trump’s new tax laws
We discuss some of the changes in Trump’s new tax laws and how they may affect regular people.

Our neighborHOOD Tax Preparer:
We speak with Denise (aka D-Robe) a Tax Professional in New Orleans. We catch D-Robe unexpectedly and clown around about tax laws. We also ask her a few serious questions that someone may benefit from. Things like Earned Income Credit, dependents, stagnant wages, and fraud are explained. When it comes to fraud, there’s a running joke in the tax industry about the black community which is, “everyone who doesn’t have a job does hair,” which alludes to the numerous fraudulent self-employment tax returns that people attempt to file.

Ask an Attorney 
I’m married and have been filing head of household for the past 3 years. Is that really illegal? What’s my worst case scenario? I usually get more money back if I claim the children and don’t file with my husband. We end up with thousands more. Can I go to jail?

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