Taxes

[Speedbag]

Dammit.  

Had the annual meeting with the taxman. I get to pay about $1100 this year. Ruined a perfectly good afternoon.

I claim zero for withholding. I owe about half of what my house is worth. I contribute over 20% of my income to my 401k, have an IRA also. My laughable home business is helping to a degree.

Looks like I get to have additional jing withheld each pay period to avoid an even more vigorous cornholing next year.   Either that or I start listing the pets as dependents.

Ideas, comments?

(also, feel free to rant yourselves)

[Triple J]

We're going to owe about $2K it appears. Sucks. 

[Speedbag]

Ouch.   

[stopintime]

30 - 40% income tax.

25% VAT

Over 100% luxury tax on motorized transport (plus VAT)

Highest back tax incident $35,000

US gallon of gas, $9

In short: shut up!  

[the_Journeyman]

If my wife and I were not married and filing our own taxes, I would have gotten a $3500 refund, and she would have gotten about $1800.  Since we're married, we get back a little over $500.

JM

[Speedbag]

30 - 40% income tax.

25% VAT

Over 100% luxury tax on motorized transport (plus VAT)

Highest back tax incident $35,000

US gallon of gas, $9

In short: shut up!  

Holy shit, time to move..... 

[lethe]

I'll find out Saturday, hopefully should be a refund.
If so it will go right back out the door as a down payment on something my wife wants. 
No soup for me.

[orangelion03]

We get to pay close to $20K out of pocket this year.  When my boss sold his company, we received bonuses that were equal to almost half our yearly salaries.  Then I cashed out a 401K to buy our house.  In effect, my income for last year was about double what I had made the previous.  I had figured on the taxes and set aside $10K, but it wasnt enough.  

[Rameses]

I'm getting back 900 bucks.

Now to decide if I'm heading to Vegas or the gun shop.

Decisions, decisions.

[Monster Dave]

Refund!

[hbliam]

Refund!

Refund just means you gave the Feds a zero interest loan. I owe $1029 and won't mail it until April 14th. So now I get the zero interest loan from Jan to April. Happy to pay it. My grand total tax was 9.1% of my income. Having a side business, home loan interest, and going to school helps.

[Statler]

nobody employed by someone else should complain about taxes as their employer is paying a chunk for them.

I won't rant about being an employer because it's still better except for paying taxes.   

And with quarterly estimates, April 15 is just another round.

[AJ]

My grand total tax was 9.1% of my income.

I love my country, and I know I have to contribute my share...
...but I'm still jealous.

[mitt]

house interest & children

Only time of the year they look good on paper



mitt

[Monster Dave]

Refund just means you gave the Feds a zero interest loan. I owe $1029 and won't mail it until April 14th. So now I get the zero interest loan from Jan to April. Happy to pay it. My grand total tax was 9.1% of my income. Having a side business, home loan interest, and going to school helps.

Either I'm really tired or that makes no practical sense what-so-ever.