Taxes

[Evan]

Did my taxes last night. I've moved up well into the 25% bracket. For the first time, I actually had to pay the government $800 in addition to the thousands of dollars they held from my paychecks in '08.

Add in state taxes, sales tax, gas tax, capital gains tax, corporate tax, etc. and it seems like the government is taking half my money. :annoyed: Downright oppressive.

[pillen140]

tell me about it.... just get on welfare like everyone else and youll be fine!:icon_confused:

[Jspafford]

Makes one think about it, eh?

The ones on welfare seem to be doing ok.

I am getting back a good chunk this year, but only because I chose to take uncle sam up on his $7500 new home buyer tax credit that I will have to pay back a little each year.

[Ranger44]

I lucked out being in school.

School tuition is a nice tax cedit:D

[Evan]

http://www.bumperart.com/ProductImages/2004012005_Display-25.gif

[pillen140]

Makes one think about it, eh?

The ones on welfare seem to be doing ok.

I am getting back a good chunk this year, but only because I chose to take uncle sam up on his $7500 new home buyer tax credit that I will have to pay back a little each year.

whoa whoa, house credit? i bought a house in '07... didnt get anything. did it have to be a NEW home, or just a house?

[OilPatch197]

I made less this year(less hours) but I got considerably more back. I really overpaid this year.

[holyford86]

if you bought a house in 08 you can get the credit.

[dru]

im making double what i made 3 years ago before taxes. my checks arent twice as big:bawling: they're taking more than a third close to half of my income. and im claming 2 without having any dependants. hope i dont end up paying after filing.

[pillen140]

if you bought a house in 08 you can get the credit.

damn! i missed by three months! is this something new for '08? or did i get screwed outta $7500?

[milje]

Did my taxes last night. I've moved up well into the 25% bracket. For the first time, I actually had to pay the government $800 in addition to the thousands of dollars they held from my paychecks in '08.

Add in state taxes, sales tax, gas tax, capital gains tax, corporate tax, etc. and it seems like the government is taking half my money. :annoyed: Downright oppressive.

Have you ever thought that maybe you shouldn't be so greedy, my friend who hasn't worked since May really needs that unemployment check you know.

[metalmacguyver]

damn! i missed by three months! is this something new for '08? or did i get screwed outta $7500?

Its a 7500 dollar credit this year, but you pay it back 500 per year for the next 15 years I think or something like that. Dont worry, its not free money or anything.

[pillen140]

Its a 7500 dollar credit this year, but you pay it back 500 per year for the next 15 years I think or something like that. Dont worry, its not free money or anything.

ah, thought i was missing out! lol. still, i could use $7500 right now.... could buy me a newer truck, thats not rolled! lol.

[Evan]

If the current "economic spendulus" bill passes in the Senate, first time home buyers will receive a true $7,500 credit that does not need to be paid back.

It will be on a going-forward basis though. It won't be retro-active.

[pillen140]

damn! i need money.

[skippy]

Did my taxes last night. I've moved up well into the 25% bracket. For the first time, I actually had to pay the government $800 in addition to the thousands of dollars they held from my paychecks in '08.

Add in state taxes, sales tax, gas tax, capital gains tax, corporate tax, etc. and it seems like the government is taking half my money. :annoyed: Downright oppressive.

Evan,the day is coming when you will look back at today as the good ole days,before the bush tax cuts expire.

Sure makes one want to work harder right?

[v-8power]

I remember my first yr. working for Dana, I had to pay $4300. Talk about pissed.

I made adjustments on my withholding since then.

[pillen140]

I remember my first yr. working for Dana, I had to pay $4300. Talk about pissed.

I made adjustments on my withholding since then.

dang! must have made a lot at dana. what did you do there?

[ranger_mclaren]

i claim nothing during year, i get more back at end of year.
another way to back lots of money have kids you get like $1500 a pop. my girlfriends sister has 4 shes getting $7500 back:icon_idea:

[Evan]

Once the Bush tax cuts expire I'm going to quit my job, go on unemployment, then Welfare. I'll sit around drinking PBR and watching TV all day.

At that point it won't be worth it to work anymore. I might as well just give in and enjoy the entitlement culture.

[pillen140]

Once the Bush tax cuts expire I'm going to quit my job, go on unemployment, then Welfare. I'll sit around drinking PBR and watching TV all day.

At that point it won't be worth it to work anymore. I might as well just give in and enjoy the entitlement culture.

i second that.... why work three jobs when i could just be at home?:icon_confused:

[milje]

If the current "economic spendulus" bill passes in the Senate, first time home buyers will receive a true $7,500 credit that does not need to be paid back.

It will be on a going-forward basis though. It won't be retro-active.

O'rly? I guess I'll wait until that passes before I buy a house then.


Take advantage of any "stimulus" that I can before bending over.

[LearjetMinako]

Even thou I'm on the lower tax bracket and getting a nice some back. What bit me in the butt was my side job tax withholding. I do a little yard work on the side, made about $1,000 for 2008, but only cleared $775 after all the expenses (fuel, mainitance, equipment, etc.). The federal with held $200 of that $775. So what took 1 year to earn, I could've earned that much at my regular day job in 2weeks.

[pillen140]

Even thou I'm on the lower tax bracket and getting a nice some back. What bit me in the butt was my side job tax withholding. I do a little yard work on the side, made about $1,000 for 2008, but only cleared $775 after all the expenses (fuel, mainitance, equipment, etc.). The federal with held $200 of that $775. So what took 1 year to earn, I could've earned that much at my regular day job in 2weeks.

thats what working under the table is for. lol :icon_cheers:

[skippy]

Once the Bush tax cuts expire I'm going to quit my job, go on unemployment, then Welfare. I'll sit around drinking PBR and watching TV all day.

At that point it won't be worth it to work anymore. I might as well just give in and enjoy the entitlement culture.

You'll have to develop some kind of "Victim Status",then you'll be a democrats wet dream,and the checks will start pouring in.

They could have given every taxpayer off until Sept 1st for what this Govt growth bill,I mean economic stimulus bill will cost.That would have spurred some spending.

Before I die I want to see three bills clear the house,fair tax,repeal 16th amendment and term limits for 3 terms,congress and senate.

[pillen140]

Before I die I want to see three bills clear the house,fair tax,repeal 16th amendment and term limits for 3 terms,congress and senate.

amen brotha! :icon_thumby:

[LearjetMinako]

thats what working under the table is for. lol :icon_cheers:

I wish I could have. But if the higher ups got audit, it would have trikled down to me.

[dru]

I wish I could have. But if the higher ups got audit, it would have trikled down to me.

no way!!! $1000 in a year. do the work, get paid cash, dont deposit. you'd be fine. the IRS isnt coming after your side cash. The higher ups wouldnt have even remembered paying you.

[v-8power]

dang! must have made a lot at dana. what did you do there?

When i got the job it was almost a $5.00 raise plus 56 to 84 hrs. per week.
Made for some nice checks.

Also that was the year i got murdered(married).

[Evan]

One good way to avoid some taxes is to put $5000/year into an IRA.

I missed my contribution this year....buying that Cobra set me back a bit. :D

Also that was the year i got murdered(married).


I have heard nothing but bad things about marriage, for the most part.

[backslash18]

Once the Bush tax cuts expire I'm going to quit my job, go on unemployment, then Welfare. I'll sit around drinking PBR and watching TV all day.

At that point it won't be worth it to work anymore. I might as well just give in and enjoy the entitlement culture.

i second that.... why work three jobs when i could just be at home?:icon_confused:

Honestly? I don't know how many people have said that on these forums. If your life is so terrible because of what the government is taking out of your checks why don't you go on welfare? Everyone talks about how great a life it is. Living in mansions, eating lobster and steak for free.

If it's so wonderful why don't you go on it?!?!?!?

Taxes are so bad right now, why wait for the tax cuts to expire? Quit your job, let me know how well it works out for you.

[Evan]

Honestly? I don't know how many people have said that on these forums. If your life is so terrible because of what the government is taking out of your checks why don't you go on welfare? Everyone talks about how great a life it is. Living in mansions, eating lobster and steak for free.

If it's so wonderful why don't you go on it?!?!?!?

Taxes are so bad right now, why wait for the tax cuts to expire? Quit your job, let me know how well it works out for you.


Because I want to live up to my potential. It would burden my conscience knowing I was a lazy slacker feeding off a group of productive hard-working people. I take a small amount of pride knowing that people like me support this country economically.

I have several business plans at the moment, but I'm hesitent to act on any of them, knowing that 35% of my corporate profit would go to the government. That's a higher rate than most socialist Europen countries! :icon_surprised: (By the way, jobs and capital will always flow to where they can be most effective. That place is not in an area with high taxes.)

Going by global living standards: on Welfare/unemployment/etc. you can buy steak and lobster, and live in a mansion for free. (Free in this case is defined as at another's expense.)

[skippy]

Because I want to live up to my potential. It would burden my conscience knowing I was a lazy slacker feeding off a group of productive hard-working people. I take a small amount of pride knowing that people like me support this country economically.

I have several business plans at the moment, but I'm hesitent to act on any of them, knowing that 35% of my corporate profit would go to the government. That's a higher rate than most socialist Europen countries! :icon_surprised: (By the way, jobs and capital will always flow to where they can be most effective. That place is not in an area with high taxes.)

Going by global living standards: on Welfare/unemployment/etc. you can buy steak and lobster, and live in a mansion for free. (Free in this case is defined as at another's expense.)

+1

[CheapThrillB2]

im making double what i made 3 years ago before taxes. my checks arent twice as big:bawling: they're taking more than a third close to half of my income. and im claming 2 without having any dependants. hope i dont end up paying after filing.

The more you claim the less you get back as a refund.

I claim 1, but i am married and have a kid, my wife claims 0

We get a decent return, but i pay in alot over the year in order to get the return.