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Income tax time again so its time for me to bitch

johnjohn

johnjohn

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Get Shredded!
Its that time of year again most of us expect a little something back at the end of the year. I myself got a pretty big raise last year. So this year i paid almost double the amount of taxes i did last year. I was excited to get my taxes done this year. I was Like hell yea more taxes paid in the more i get back. Well the kind gentlemen at H&R block informed me i was now in a different tax bracket because of my raise. After it was all said and done i got back $100 more than i did last year. And i paid double the amount of taxes. So my nice fat raise basically went to the government. Now i don't mind uncle sam getting hes part to pay for are military and so on. But what the hell does a raise do if I'm now in a different tax bracket. Paycheck shows a little different but most went to taxes. You tax me when i buy shit you tax the fawk out me at the end of the year. Then the h&r block gentlemen said. If you had 3 or 4 kids and worked a part time job you could get back close to 8 grand. WTF i damn near lost it. But anyway happy tax time rant over

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Fuck the government. I pay so god damn much, it's ridiculous. I bet I pay out as much as most people make in a year. It hurts my eyes. And I half to pay at the end of the year. I can't stand that shit! Down size that money fuckin pit!

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johnjohn said:
Its that time of year again most of us expect a little something back at the end of the year. I myself got a pretty big raise last year. So this year i paid almost double the amount of taxes i did last year. I was excited to get my taxes done this year. I was Like hell yea more taxes paid in the more i get back. Well the kind gentlemen at H&R block informed me i was now in a different tax bracket because of my raise. After it was all said and done i got back $100 more than i did last year. And i paid double the amount of taxes. So my nice fat raise basically went to the government. Now i don't mind uncle sam getting hes part to pay for are military and so on. But what the hell does a raise do if I'm now in a different tax bracket. Paycheck shows a little different but most went to taxes. You tax me when i buy shit you tax the fawk out me at the end of the year. Then the h&r block gentlemen said. If you had 3 or 4 kids and worked a part time job you could get back close to 8 grand. WTF i damn near lost it. But anyway happy tax time rant over

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My buddy has 3 kids and gets back all most 10 grand.
 
Man i just don't understand it. When you work hard and you get a nice raise its supposed to show on your check. It shows but its over there on the side were it says fed and state with held. Just because im in a different tax bracket wtf does that mean. Its just a title its worthless. The fuckin light company sure dont cut me no slack if i was to say hey I'm finally middle class lolz. Guess what light bill is the same mother fucca

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Why are you giving the government a free loan at all on your money? Sit down with an accountant and figure out what your exemptions are supposed to be where they're withholding less on your paycheck ...it's not like they're paying you interest on your money they're skimming all year.
Why is this such a hard concept for people to get
 
The income tax is the most profitable scam that the government has ever pulled.

It has majority of Americans believing that they get something back from good ol government... So they say nothing to their politicians about price or tax hikes and could care less about the laws and regulations being passed that have hidden taxes in them.

I bet people would be way more involved if every year they had to write a check to pay their taxes. It would also be impossible for the government to spend what they don't have.


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Sheriv said:
Why are you giving the government a free loan at all on your money? Sit down with an accountant and figure out what your exemptions are supposed to be where they're withholding less on your paycheck ...it's not like they're paying you interest on your money they're skimming all year.
Why is this such a hard concept for people to get
Click to expand...
I'm going to do this next year. I usually do the basic w-2 in and out done in 15min. I no there's got to be shit there missing or something.

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Seattlesbest said:
My buddy has 3 kids and gets back all most 10 grand.
Click to expand...

I have three kids and owed the feds like $100, and got back $200 from the state. Both my wife and I only claim 1 and still came out barely even and we are far from rich. Fuck the government.
 
Someone told me the best way to make out is to end up not owing or getting anything at the end of the year, but idk how to do that.

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IML Gear Cream!
I always let them take what they want and get back something at the end of the year. I'm going to change that this year.

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Clam like 10 depents on your check for about 4 months you'll see a big difference. I my self do this every year and the government love's paying me for it at the end of the year. 10 year's and counting...

Cheapthreads out...
 
cheapthreads said:
Clam like 10 depents on your check for about 4 months you'll see a big difference. I my self do this every year and the government love's paying me for it at the end of the year. 10 year's and counting...

Cheapthreads out...
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Dont you have to have social security numbers on those dependents at the end of the year?

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Dante$ said:
Someone told me the best way to make out is to end up not owing or getting anything at the end of the year, but idk how to do that.

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you tell who ever that does your payroll to change your status to married or married with dependants. This changes how much you pay in. When you file your taxes of course you have to file under the correct status.

I go for about 10% but if I need more cash from my check then I'll change to married with dependants.
 
ROID said:
you tell who ever that does your payroll to change your status to married or married with dependants. This changes how much you pay in. When you file your taxes of course you have to file under the correct status.

I go for about 10% but if I need more cash from my check then I'll change to married with dependants.
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I'm going to do this tomorrow. Hell me and the misses are finally getting hitched next month anyways. I want all my money now and not later

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your employer has to change your filing status anytime you ask them to. This is good if you get bonuses.

either way. shoot for 10% fed.

there are a lot of deductions you need to look into. HR block is a terrible company. Go to a cpa
 
Fucking taxes are the biggest god damn joke.

having said that...I skim the shit off the taxes, being a contract worker in paid 1099, which leaves a fortune to pay in...unless, you keep receipts, mileage, everything u can. Shit everyday I'm at work my food and fuel is payed for. Plus I have 3 kiddos so that helps lol
 
Nope never ever , it not right but it helps. Im not telling you to do this at all i just feel comfortable doing it. Im sure if they wanted me by know they would've came to my job right.

Cheapthreads out..
 
Roid is 100% correct. Make sure only one of you do this not both that would raise a big red flag. The bounes are nice to boot as well i make it rain up in her...

Cheapthreads out..
 
Just want to be sure... Claim 10 dependants for 4 mos... then after 4 mos put it back to your normal status...at the end of the year file your real status ie: Married 2?

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Get Shredded!
Dante$ said:
Just want to be sure... Claim 10 dependants for 4 mos... then after 4 mos put it back to your normal status...at the end of the year file your real status ie: Married 2?

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Lol i dont no about the 10 dependents. But i changed mine today to 2 dependents and married.

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johnjohn said:
what the hell does a raise do if I'm now in a different tax bracket. Paycheck shows a little different but most went to taxes.
Click to expand...
Tax brackets do not really work like that.

If you are married, and your income is from $0 to $18,450, then you are in the 10% tax bracket.

If your income is above that but below $74,900, then you are in the 15% tax bracket.

If you make above that, then you are in the 25% tax bracket, well, up until $151,200.

If you make $75,000, then all of that income is not taxed at 25%. Instead, the first $18,450 is taxed at 10%, that is, $1845. The income up to $74,900 is then taxed at 15%. $74,900 minus 18,450 is $56450, and 15% of that is $8467.50.

You earned $75,000, and only that last hundred bucks, the difference between $74,900 and $75,000, is taxed at 25%. So on that, you pay $25 and keep $75. There is no situation in which a raise costs you money because of tax brackets.

Keep in mind, too, that these brackets do not represent your gross salary. It is taxable income, so quite a bit of your income (deductions) is not taxed at all. The 10% bracket does not even start to kick in until you are above your deduction amounts, that is, taxable income.

I hope that all makes sense.
 
malfeasance said:
Tax brackets do not really work like that.

If you are married, and your income is from $0 to $18,450, then you are in the 10% tax bracket.

If your income is above that but below $74,900, then you are in the 15% tax bracket.

If you make above that, then you are in the 25% tax bracket, well, up until $151,200.

If you make $75,000, then all of that income is not taxed at 25%. Instead, the first $18,450 is taxed at 10%, that is, $1845. The income up to $74,900 is then taxed at 15%. $74,900 minus 18,450 is $56450, and 15% of that is $8467.50.

You earned $75,000, and only that last hundred bucks, the difference between $74,900 and $75,000, is taxed at 25%. So on that, you pay $25 and keep $75. There is no situation in which a raise costs you money because of tax brackets.

Keep in mind, too, that these brackets do not represent your gross salary. It is taxable income, so quite a bit of your income (deductions) is not taxed at all. The 10% bracket does not even start to kick in until you are above your deduction amounts, that is, taxable income.

I hope that all makes sense.
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Thank you for this, I will try to understand it best I can lol

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I'd say bury it in your 401k pretty tax max..but the hubs 401k has been a losing proposition for 10 yrs
 
Sheriv said:
I'd say bury it in your 401k pretty tax max..but the hubs 401k has been a losing proposition for 10 yrs
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Yea mine hasn't been to fruitful either. This day and time you never no when the stock market crashes. I put $50 a week in 401k and the majority of what I'm saving for retirement goes in a savings account

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You get paid, and pay taxes on your dollars.
The money you get paid with you buy things, and it gets taxed.
The guy you bought things from pays taxes on that same money.
He pays his workers, who pay taxes.
They go out and spend money and generate more taxes...goes on and on.

Same fucking dollars is taxed over and over. Answer = You are left with not much for yourself.

Now, most of us are middle class and paying these taxes. Poor pay nothing. And the rich pay but comparatively, not as much as you.

And to top it all off....we don't know where any of this money actually goes?? Government doesn't completely tell you what they spend about 4 Trillion dollars on each year.

If they run out of money then they raise taxes, print money or borrow.

Fuck sakes, if you ran your household like this you would be bankrupt all the time.

Bullshit.
 
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