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Business & farm
GeorgeM777,
Thanks for the response. I gave that a try, but it does not seem to be the right spot in my opinion due to the wide range of calculations it comes up with. Prior to any changes, my taxes stand at a refund of $2,947 for Fed and $605 refund for California state.
When I enter the $14,000 credit for our employee in the first section (Work Opportunity Credits), it ended up changing the Fed to an amount of $1,416 owed and CA state refund going up to $939? That's weird - I should be getting a discount not more taxes!
I tried it in the second section and it changed the Fed taxes to a slightly smaller refund of $2,097 and CA state to a much higher refund of $1,724, strange.
Should the value be a negative? If I enter $-14,000 in the first section the Fed refund ends up increasing to $7,435 and state refund decreases to $271. If I enter the same negative 14K into the second section I get the same $7,435 for federal but state goes up to $2,875.
That last one seems the best, but I really am more confused now than before due to 4 different calculations depending on which section and whether its positive or negative value!