Hey, Tyler. I noticed you have seven dependents on your tax form. Usually those would be people in your immediate family who share your living expenses and rely on your income, like a spouse and kids. Are you sure that all of these people would actually be considered dependents for tax purposes?

Imputed pay is a type of non-cash benefit whose value is still taxable by the IRS. It could be life insurance, a domestic partner’s benefits, bills your employer paid for you, gifts. Answer: Your payroll person adds an “imaginary” dollar to your paycheck.  That’s imputed pay.

Many midwestern states have reciprocity agreements where each state agrees to let the other handle payroll taxes. Without keeping score. It’s the state tax equivalent of saying, “It’s cool, bro. I know you’ll get me next time.”