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Discussion in 'The Okie Corral' started by nursetim, Apr 17, 2012.
Who here paid the most individual taxes? I'll start 20K 1099 suck!!!
You beat me. You need more deductions.
Proud to say that every year my income has got higher and my taxes lower. This year Im below 9% on 6 figures.
In my state between Feds, State, County, Village, School, and Transportation Tax = 52% of a significant number.
You obviously are not doing your fair share. About 50% of Americans are sitting home counting on you.
More than I care to think about....especially when I think about the many ways it is wasted by the .gov.
Got reamed this year, but it was partially self-inflicted. Did a Roth conversion of my wife's traditional IRA in 2010 and opted to split the tax on that between 2011 & 2012... mostly because she was retiring at the end of 2010 so I figured our AGI would be significantly lower going forward.
Well... she opted to work three days a week through 2011... which was great, but...
I've got the OP beat.
She really retired starting the first of this year... so that won't happen again.
Then for even better news - I was laid off in January so should do much better tax-wise this year.
A case where being number one feels like number two.
Not about to post a number. But it was a lot. Even with fairly aggressive deductions, plenty of pre-tax stuff (maxed 401K, pre-tax health care funds) my actual percent of income paid as taxes was substantial. Not really sure how to knock it down. Glad to say, no state income tax in FL.
One thing I was glad about -- I'd planned well enough that when i filed I had a smallish check to write ($2,000) rather than a refund to wait for (i.e., free loan to govt.)
One weird thing -- found out someone had used my SSN to file a false return. IRS was AMAZINGLY efficient, friendly, helpful in sorting it out. No impact on me except having to file in hard copy, with an affidavit and some Id documents. (If I'd been asking for a refund, the ID theft would have been a bigger issue as it would have delayed any refund by months.) Whether they will be aggressive about finding/prosecuting the ID thief, I don't know. Filed with all the credit bureaus but nothing showing up there -- evidently the SSN was randomly selected.
Do you own any commercial properties for a business? If so, how are you depreciating the building?
I got a refund of $20,000. Thanks for the cash, nursetim.
Eleventy Billion Dollers!
It's not a tax.
It's a contribution. Bill Clinton said so.
Your fair share.
Those of us that paid, uh, contributed ... er, shared amounts that would purchase a danged nice new car are far too stupid, greedy or insenstitive to keep what we earn.
Our President and his wife paid 20.5% on their adjusted gross income.
Thank you for your service.
I hear the crazy number of 50% of Americans don't pay taxes thrown around all the time. How is this even possible? Is there any fact to back it up?
Between fed and state and larger pretax contributions to retirement and healthcare probably around 25K.
Of course I am a government employee so I a just above the scum I arrest according to some around here for daring to take all of your money to work.
Off hand, no source to back that up, but this was talked about in my college tax class last semester, and widely accepted. give or take a couple percent.
It's been that way for many years, mostly due to the EITC. The lowest tax bracket does not pay any real income taxes taxes. A good program but there should be no 'refund' if the EITC takes your tax burden below zero IMHO.
I don't know but it really irritates me when I hear someone doesn't pay their taxes. I had a neighbor who always boasted about it each year -- how he should be paying income tax but felt others were paying enough to cover him. He was real smug about it and it offended me he'd say this to my face. I called the IRS and ratted on him. The next year I found out the IRS had nailed him and he was paying interest and penalties for back taxes owed. He was very unhappy about it.