Today is the day kids, April 15 and for us here in the Great US of A, it is TAX DAY.
So p$y UP, have your envelope postmarked by Midnight today - April 15...
OR... The IRS will take BIG BITES out of your bank account. BIG BITES!!!!
(https://alantani.com/gallery/38/7588-150424140000-38736520.jpeg)
If you are retired or living on an income lower than most of the rest, then the IRS take smaller bites BUTT it still hurts!!!!
(https://alantani.com/gallery/38/7588-150424140001-387361343.jpeg)
For the Mrs. and me, today is always a PAINFUL day.
PAY UP, it is your constitutional right!!!!
Wayne
finished last night. it was nightmarish. looks like my spending will curtailed for a bit.
Got it oudda the way several weeks ago. Had to wait for delayed W-2 forms. Already got a small refund from the State, need to check my account for a bigger Fed. return.
I find it both irritating and interesting like a puzzle. Most of the irritating part is me having to over-pay on purpose so I can avoid "estimated income" payments 4 times/year. Also, the fact that they will penalize me if I don't and I've underpaid for the year. Now that you got me going, it's irritating that I don't collect interest on the extra $ I overpay them.
Cool pictures Wayne.
To painful to think about anymore. :'(
My old accountant, when I biatched about paying taxes, explained clearly to me that you don't have to pay any taxes if you don't make any money ;) . I quickly took on a different outlook on income taxes. One thing I have always been a stickler about is to always manage my tax withholdings so that I never get a refund and almost always owe a little something. I refuse to let the Gov have any of my money for nothing. >:D ;D
:) Filed back in February, already spending my refund .
Got my returns in @ 2 wks. ago. I still do paper & had to wait over 6 wks. for the IRS to send me the forms. I have few special situations that don't allow me to use the so-called free software. It is a hassle because the forms are so confusing, but I've had experience, so it is more of a slog rather than not knowing what to do. All of you out there who will get Social Security and think that will simplify things or eliminate your tax are in for surprise. I don't begrudge having to pay my share for public services in this, the greatest of countries, but it sure would be nice if things were made more simple. People naturally rebel when they are "asked" to pay $$ thru a process they don't understand; making things more simple would improve the relationship taxpayers have w/ their gov't.
Frank
I paid a few thousand dollars in taxes. I really wish I owed them millions instead of thousands. Dominick
Quote from: Midway Tommy on April 15, 2024, 03:48:10 PMMy old accountant, when I biatched about paying taxes, explained clearly to me that you don't have to pay any taxes if you don't make any money ;) . I quickly took on a different outlook on income taxes. One thing I have always been a stickler about is to always manage my tax withholdings so that I never get a refund and almost always owe a little something. I refuse to let the Gov have any of my money for nothing. >:D ;D
Do you know if you have to pay in money they figure in the interest on that money. So you end up paying more in taxes that you would have if you owe nothing at the end of the year. They get you no matter what.
I heard that in Japan, they figure it for you, then send a postcard to taxpayers. If you agree with "their" figures, ok. If not then you through some kinda process(no details here)to settle the account. Seems too simple..., but if that's right, I'm guessing they don't have a private Tax accounting industry as big as ours.
Good points Frank. I got some Social Security payments last year, as well as my job income and that was one of the irritations; a complicated work sheet to pay some tax on my Social Security income(a relatively small percentage).
Owed the Fed and actually got money from the State this year.
When it was all said and done we broke even.
Then my wife reminded me we had to pay our accountant, who's a friend, $250.
So I'm $250 in the hole, could have been worse. It was last year.
Steve
Quote from: Dominick on April 15, 2024, 08:32:13 PMI paid a few thousand dollars in taxes. I really wish I owed them millions instead of thousands. Dominick
(https://alantani.com/gallery/36/17471_24_12_21_2_21_23_36078927.jpeg)
Easy there Italian Gladiator , If you changed owed to paid , then you still shine in my eyes . :ct
Quote from: mikeysm on April 15, 2024, 09:50:04 PMQuote from: Midway Tommy on April 15, 2024, 03:48:10 PMMy old accountant, when I biatched about paying taxes, explained clearly to me that you don't have to pay any taxes if you don't make any money ;) . I quickly took on a different outlook on income taxes. One thing I have always been a stickler about is to always manage my tax withholdings so that I never get a refund and almost always owe a little something. I refuse to let the Gov have any of my money for nothing. >:D ;D
Do you know if you have to pay in money they figure in the interest on that money. So you end up paying more in taxes that you would have if you owe nothing at the end of the year. They get you no matter what.
That's not true. If you owe less than $1000 and pay 90% of your estimated quarterly tax there is no penalty or interest charge.
Quote from: Midway Tommy on April 16, 2024, 05:29:16 AMQuote from: mikeysm on April 15, 2024, 09:50:04 PMQuote from: Midway Tommy on April 15, 2024, 03:48:10 PMMy old accountant, when I biatched about paying taxes, explained clearly to me that you don't have to pay any taxes if you don't make any money ;) . I quickly took on a different outlook on income taxes. One thing I have always been a stickler about is to always manage my tax withholdings so that I never get a refund and almost always owe a little something. I refuse to let the Gov have any of my money for nothing. >:D ;D
Do you know if you have to pay in money they figure in the interest on that money. So you end up paying more in taxes that you would have if you owe nothing at the end of the year. They get you no matter what.
That's not true. If you owe less than $1000 and pay 90% of your estimated quarterly tax there is no penalty or interest charge.
Its easy to go over a thousand dollars owed this year. Everyone is trying to live beyond their means.
We try to make sure they deduct more than needed so we do not get hit with owing more. My wife's busness has been "non profit" for several years and that helps too. She needs to retire and spend more time driving me insane or try to get more kids in her preschool.
I always try to set up my paycheck such that I break even at tax time. No benefit in giving an interest free loan to govt and then asking nicely for some of it back.
But now that I have a second kid, I actually walked away with a 4 digit return for the first time since I was in college.
Quote from: Dominick on April 15, 2024, 08:32:13 PMI paid a few thousand dollars in taxes. I really wish I owed them millions instead of thousands. Dominick
Dominick, you need to meet Mark Cuban, the tax year 2023 he paid $276 Million DOLLARS
https://www.foxnews.com/media/billionaire-mark-cuban-dodges-question-asking-pays-fair-share-taxes-pay-oweAnd to quote Mark Cuban,
" I pay what I owe. Tomorrow I will wire transfer to the IRS
$288,000,000.00
This country has done so much for me, I'm proud to pay my taxes every single year."
$288,000,000 is MORE than all of us on this website will pay during our livetimes. TIMES 10!!!!
Wayne
We use an accountant, he's done well by us. We used to use H&R Block. He went back tru our old returns from H&R and got us a bunch of money back that those chuckleheads missed. We still pay out the wazoo but a good tax accountant is worth the few extra sheckles at least for us
Quote from: Dominick on April 15, 2024, 08:32:13 PMI paid a few thousand dollars in taxes. I really wish I owed them millions instead of thousands. Dominick
My father always said something like "
Those who complain about tax have nothing to complain about"
?
If you'd rather pay millions instead of thousands in taxes, it's easy. Just don't pay the thousands for a few years and it'll quickly add up.
When I retired 3 1/2 years ago the layout on leave credits was substantial. Even after stashing all I could in 401/457 it was large. That and some background issues I would be even Steven with the Internal Reaming Service this year. But now that mom passed away it's (as my tagline says) "It's not gonna be productive, but it's sure gonna be interesting." And to top it off, my old labor organization won a wage lawsuit which also paid out this year.
I'm wondering if I can get something back on my old college tuition that I fully paid for in the 80's now that the government is paying off loans.
Bill
Quote from: Bill B on April 18, 2024, 12:57:55 AMI'm wondering if I can get something back on my old college tuition that I fully paid for in the 80's now that the government is paying off loans.
Bill
Nah, I sincerely doubt it. ;) Those of us that stood behind our names & signatures, or worked a job while we took some courses are just SOL. Paying for others', too, seems to be standard procedure nowadays, I guess. >:D
$280 mil tax bill,
I wonder what was his taxable income and write offs?
>:D
Quote from: El Pescador on April 16, 2024, 03:19:01 PMQuote from: Dominick on April 15, 2024, 08:32:13 PMI paid a few thousand dollars in taxes. I really wish I owed them millions instead of thousands. Dominick
Dominick, you need to meet Mark Cuban, the tax year 2023 he paid $276 Million DOLLARS
https://www.foxnews.com/media/billionaire-mark-cuban-dodges-question-asking-pays-fair-share-taxes-pay-owe
And to quote Mark Cuban,
" I pay what I owe. Tomorrow I will wire transfer to the IRS
$288,000,000.00
This country has done so much for me, I'm proud to pay my taxes every single year."
$288,000,000 is MORE than all of us on this website will pay during our livetimes. TIMES 10!!!!
Wayne
Quote from: Gobi King on April 18, 2024, 12:04:38 PM$280 mil tax bill,
I wonder what was his taxable income and write offs?
>:D
Lets see not making any guess at his regular income which must be substantial. He did sell a little sports franchise for 3.5B that he bought for under 300M so his percentage of tax seems rather low compared to the 40% they burned me with.
I wonder how much Cuban's accountant got paid to figure his tax consequence? Dominick
I wonder if I changed my name to "Crime" and could pay no taxes, cause I've always been told "Crime" doesn't pay ::)
Quote from: Maxed Out on April 18, 2024, 07:25:37 PMI wonder if I changed my name to "Crime" and could pay no taxes, cause I've always been told "Crime" doesn't pay ::)
Let us know how that works for you, Ted!
Best, Fred
As this tread has the potential to go sideways and has appeared to run its course, I am locking this thread to eliminate the possibility of it going sideways. Bill