KalTorakOne way or another, they all end up inthe Undercity.Registered Userregular
edited January 2010
If I understand correctly, Roths have the taxes applied up front (not tax deductible), so that once it's in the fund, when you eventually take money out you don't have to pay taxes on it because they've already been paid when you put it in in the first place. Non-Roths are tax-deductible when you put money in, but it'll be taxed when you take it out again.
So I bring my taxes to a place. I'm real lazy, bad at math, plus I live in one state but work in another. Its well worth the $100. Plus, they always get it done in like a day, and even address and stamp the envelope when I always owe Connecticut like $30.
Return should just about finish paying off my credit card. honestly fuck those things. Maybe a DS if theres anything left over, or put it towards new PC parts.
I pay more in aggregate taxes than I take home. (and no, I'm not particularly rich)
o rly? where do you live?
It's not so much about where I live (Kansas); It's that I am adding in my state sales tax, property tax, AND the money that is matched by my employer for the old-people tax (social security and medicare).
monocle on
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Goose!That's me, honeyShow me the way home, honeyRegistered Userregular
edited January 2010
My tax return will be going into PAX East, and the rest who knows
This year I'm getting fucked so hard it isn't even comical.
Like, there are Iragi detainees that will look at me and go, "Ohh shit dude, that sucks."
Is it because the government gave you too much sick monies?
combo of that, and my employer not properly deducting for overtime.
I made more in overtime than I did for my base salary by a considerable margin. Come to find out, "whooooooops, we didn't take out what we should have, sorry!"
I love when you guys talk about pensions and IRA because I just laugh at the IRA part.
But seriously how come you guys always get a tax refund and shit? Do they not just take the correct amount of money? I've only been overtaxed once before and that's cause I was on emergency tax and I got it back the next month.
That Dave Fella on
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BusterKNegativity is Boring Cynicism is Cowardice Registered Userregular
I love when you guys talk about pensions and IRA because I just laugh at the IRA part.
But seriously how come you guys always get a tax refund and shit? Do they not just take the correct amount of money? I've only been overtaxed once before and that's cause I was on emergency tax and I got it back the next month.
We're all going to put money into our IRA, Dave
Every month
The government encourages us to do
You know, for safety
ArtreusI'm a wizardAnd that looks fucked upRegistered Userregular
edited January 2010
For two summers I worked at a factory and made crazy amounts of money. To me anyway, something like $1,200-$2,000 a month, which was way more than any job I'd had before. The tax return last year was something like $800. (It was helped along by the stimulus thing but still, the point is I would get big tax returns afterward.)
Last summer I worked very few hours at the university food court and we pay barely any taxes on our income as students so basically I will be lucky if I don't owe a ton of money this year.
BusterKNegativity is Boring Cynicism is Cowardice Registered Userregular
edited January 2010
Also I think the reason why so many of us get refunds is that the Government set it up that way so that we let them borrow a lot of money and then spend it all when we get it back.
I dunno, it'd be kinda nice getting a lump sum at the end of the year like all my friends seem to get cause they've been taxed too much cause it's like "woah money" were as if you get the benefit of that money spread over the year it doesn't seem so much
That Dave Fella on
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ZoelI suppose... I'd put it onRegistered Userregular
edited January 2010
I think it's our misguided notion of fairness that leads us to believe everyone should pay something different depending on their particular situation
Zoel on
A magician gives you a ring that, when worn, will let you see the world as it truly is.
However, the ring will never leave your finger, and you will be unable to ever describe to another living person what you see.
I love when you guys talk about pensions and IRA because I just laugh at the IRA part.
But seriously how come you guys always get a tax refund and shit? Do they not just take the correct amount of money? I've only been overtaxed once before and that's cause I was on emergency tax and I got it back the next month.
you can set it up w/ your employer so that the withholding goes up or down, in the hopes that you won't owe or be owed too much. some people prefer to have too much withheld so they get a refund at the end of the year and FREE MONEY!! even thought that doesnt make much sense at all
scrivenerjones on
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ArtreusI'm a wizardAnd that looks fucked upRegistered Userregular
I love when you guys talk about pensions and IRA because I just laugh at the IRA part.
But seriously how come you guys always get a tax refund and shit? Do they not just take the correct amount of money? I've only been overtaxed once before and that's cause I was on emergency tax and I got it back the next month.
you can set it up w/ your employer so that the withholding goes up or down, in the hopes that you won't owe or be owed too much. some people prefer to have too much withheld so they get a refund at the end of the year and FREE MONEY!! even thought that doesnt make much sense at all
Think of it as accidental savings. I would much rather that happen than owe a bunch of money by surprise.
and what's even more fucked up is that refunds allow tax preparation places (in cooperation with banks) to offer what are called "refund anticipation loans." this is where if you seriously can't wait the 2-3 months for your check to arrive, the bank will loan you the money at some usurious interest rate today, then just take the refund check when it gets here.
sounds great! except for the part in the fine print where if you owe money to the bank, or to another bank that the bank is friends with, or have any other kind of debt that they find out about, they just keep the refund and use it to service the debt and you get nothing. owned.
but how do you pay too much tax? do you not have a set % of tax you pay each month?
in Ireland it's 20% upto say 40k and anything above that is at 40% and then you've your credits which are like 3600 so that's split into weeks or months to reduce some of your tax
so I never pay more or less than I should even if I get mad bonuses cause I just get taxed more, the more I earn
That Dave Fella on
PSN: ThatDaveFella
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ArtreusI'm a wizardAnd that looks fucked upRegistered Userregular
and what's even more fucked up is that refunds allow tax preparation places (in cooperation with banks) to offer what are called "refund anticipation loans." this is where if you seriously can't wait the 2-3 months for your check to arrive, the bank will loan you the money at some usurious interest rate today, then just take the refund check when it gets here.
sounds great! except for the part in the fine print where if you owe money to the bank, or to another bank that the bank is friends with, or have any other kind of debt that they find out about, they just keep the refund and use it to service the debt and you get nothing. owned.
Well those are just horrible in general. Just like the payday advance places. They should be illegal even though all they are doing is preying on people too stupid to know better.
well everyone has different numbers of kids, and different credits, and two+ jobs, and all kinds of truly goofy shit going on.
so when you get hired by a place, you fill out a W-4 where you choose a number of "allowances" appropriate to your financial position. more allowances claimed = more money withheld from your paycheck. but if you fuck it up, or your income changes and you don't file a new W-4, then you can end up being owed money/owing money come april 15.
scrivenerjones on
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ZoelI suppose... I'd put it onRegistered Userregular
but how do you pay too much tax? do you not have a set % of tax you pay each month?
in Ireland it's 20% upto say 40k and anything above that is at 40% and then you've your credits which are like 3600 so that's split into weeks or months to reduce some of your tax
so I never pay more or less than I should even if I get mad bonuses cause I just get taxed more, the more I earn
it's a sliding scale
like below a certain threshold you pay 10%
So you pay 10% on the first $8,350 you earn
Then you pay 15% on every dollar from $8,351 to $33,950, 25% after that, etc.
So when you get a paycheck every week, they multiply that out by 52 to figure out how much you should withhold
So if you make more or less in a given week, it messes up at the end
Zoel on
A magician gives you a ring that, when worn, will let you see the world as it truly is.
However, the ring will never leave your finger, and you will be unable to ever describe to another living person what you see.
0
BusterKNegativity is Boring Cynicism is Cowardice Registered Userregular
edited January 2010
Also paying taxes is handled through our employers who don't always know what they are doing
but how do you pay too much tax? do you not have a set % of tax you pay each month?
in Ireland it's 20% upto say 40k and anything above that is at 40% and then you've your credits which are like 3600 so that's split into weeks or months to reduce some of your tax
so I never pay more or less than I should even if I get mad bonuses cause I just get taxed more, the more I earn
Because everything, and I do mean everything is in some way, shape, or form, subsidized by the Govt.
I have, without realizing it, filed my taxes and told "You owe $750", then went back, checked on a few boxes that I overlooked, and suddenly the screen spits back, "Whoops, no, you get a check for $3800".
Mine have been +/- $50 after factoring in student loan interest payments the last couple years. No idea this year as I quit working in July and went back to school. I assume about the same.
Kind of wish I set up the accidental savings but I didn't really spend money on anything but servicing my car and college last year, so I'd be in the same broke boat.
it's done by our employers over here too, I suppose I have it easy because my mam works for the Revenue Commissioners (tax people) so she sorts all my credits and stuff.
Our credits are basically your allowances. You get a single person credit, a married person credit and various other things like renters allowance, a mortgage credit if you're a homeowner, widows credit etc
The you have a tax free allowance which means the amount of money you don't pay tax on.
I'm pretty sure over here it doesn't matter how many jobs you have you have the same credits and get taxed the same as the revenue will know if it's legit and not cash in hand.
That Dave Fella on
PSN: ThatDaveFella
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ZoelI suppose... I'd put it onRegistered Userregular
edited January 2010
Ersatz socialism
Zoel on
A magician gives you a ring that, when worn, will let you see the world as it truly is.
However, the ring will never leave your finger, and you will be unable to ever describe to another living person what you see.
I feel bad for the few Americans who work over here in Ireland who still have to file taxes back home.
That Dave Fella on
PSN: ThatDaveFella
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ZoelI suppose... I'd put it onRegistered Userregular
edited January 2010
if you leave america forever they still try to make you pay taxes for seven years
Zoel on
A magician gives you a ring that, when worn, will let you see the world as it truly is.
However, the ring will never leave your finger, and you will be unable to ever describe to another living person what you see.
and then any kind of money you spend on healthcare, after a certain amount, is deducted.
any upkeep on homes.
anything spent on a child it seems.
really the best way to get money back is to have at least 6 kids, make sure they're all sick, keep them in a basement at your huge house, and then buy a failing business with pocket change.
The IRS will just backup a truck full of singles.
Stale on
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ZoelI suppose... I'd put it onRegistered Userregular
edited January 2010
stale that's the hard way
the easy way is to be blind
Zoel on
A magician gives you a ring that, when worn, will let you see the world as it truly is.
However, the ring will never leave your finger, and you will be unable to ever describe to another living person what you see.
Posts
Return should just about finish paying off my credit card. honestly fuck those things. Maybe a DS if theres anything left over, or put it towards new PC parts.
xbl: brimfields
I think the above is correct.
They are going to pay off our credit card which in turn paid off our classes!
It's not so much about where I live (Kansas); It's that I am adding in my state sales tax, property tax, AND the money that is matched by my employer for the old-people tax (social security and medicare).
Tax return
We should probably change our tax status on our W-4s
Amazon Wishlist: http://www.amazon.com/BusterK/wishlist/3JPEKJGX9G54I/ref=cm_wl_search_bin_1
Like, there are Iragi detainees that will look at me and go, "Ohh shit dude, that sucks."
I envy you.
Over the past two years despite both claiming 0 at our employers we have paid a combined $8k filing jointly.
This year, she went down to halftime, and had a big chunk of FMLA for our twins being born. I hope it isn't so bad this year.
Is it because the government gave you too much sick monies?
Amazon Wishlist: http://www.amazon.com/BusterK/wishlist/3JPEKJGX9G54I/ref=cm_wl_search_bin_1
combo of that, and my employer not properly deducting for overtime.
I made more in overtime than I did for my base salary by a considerable margin. Come to find out, "whooooooops, we didn't take out what we should have, sorry!"
But seriously how come you guys always get a tax refund and shit? Do they not just take the correct amount of money? I've only been overtaxed once before and that's cause I was on emergency tax and I got it back the next month.
We're all going to put money into our IRA, Dave
Every month
The government encourages us to do
You know, for safety
Amazon Wishlist: http://www.amazon.com/BusterK/wishlist/3JPEKJGX9G54I/ref=cm_wl_search_bin_1
Last summer I worked very few hours at the university food court and we pay barely any taxes on our income as students so basically I will be lucky if I don't owe a ton of money this year.
Amazon Wishlist: http://www.amazon.com/BusterK/wishlist/3JPEKJGX9G54I/ref=cm_wl_search_bin_1
However, the ring will never leave your finger, and you will be unable to ever describe to another living person what you see.
you can set it up w/ your employer so that the withholding goes up or down, in the hopes that you won't owe or be owed too much. some people prefer to have too much withheld so they get a refund at the end of the year and FREE MONEY!! even thought that doesnt make much sense at all
Think of it as accidental savings. I would much rather that happen than owe a bunch of money by surprise.
sounds great! except for the part in the fine print where if you owe money to the bank, or to another bank that the bank is friends with, or have any other kind of debt that they find out about, they just keep the refund and use it to service the debt and you get nothing. owned.
in Ireland it's 20% upto say 40k and anything above that is at 40% and then you've your credits which are like 3600 so that's split into weeks or months to reduce some of your tax
so I never pay more or less than I should even if I get mad bonuses cause I just get taxed more, the more I earn
Well those are just horrible in general. Just like the payday advance places. They should be illegal even though all they are doing is preying on people too stupid to know better.
Amazon Wishlist: http://www.amazon.com/BusterK/wishlist/3JPEKJGX9G54I/ref=cm_wl_search_bin_1
so when you get hired by a place, you fill out a W-4 where you choose a number of "allowances" appropriate to your financial position. more allowances claimed = more money withheld from your paycheck. but if you fuck it up, or your income changes and you don't file a new W-4, then you can end up being owed money/owing money come april 15.
it's a sliding scale
like below a certain threshold you pay 10%
So you pay 10% on the first $8,350 you earn
Then you pay 15% on every dollar from $8,351 to $33,950, 25% after that, etc.
So when you get a paycheck every week, they multiply that out by 52 to figure out how much you should withhold
So if you make more or less in a given week, it messes up at the end
However, the ring will never leave your finger, and you will be unable to ever describe to another living person what you see.
Amazon Wishlist: http://www.amazon.com/BusterK/wishlist/3JPEKJGX9G54I/ref=cm_wl_search_bin_1
Because everything, and I do mean everything is in some way, shape, or form, subsidized by the Govt.
I have, without realizing it, filed my taxes and told "You owe $750", then went back, checked on a few boxes that I overlooked, and suddenly the screen spits back, "Whoops, no, you get a check for $3800".
Kind of wish I set up the accidental savings but I didn't really spend money on anything but servicing my car and college last year, so I'd be in the same broke boat.
Our credits are basically your allowances. You get a single person credit, a married person credit and various other things like renters allowance, a mortgage credit if you're a homeowner, widows credit etc
The you have a tax free allowance which means the amount of money you don't pay tax on.
I'm pretty sure over here it doesn't matter how many jobs you have you have the same credits and get taxed the same as the revenue will know if it's legit and not cash in hand.
However, the ring will never leave your finger, and you will be unable to ever describe to another living person what you see.
However, the ring will never leave your finger, and you will be unable to ever describe to another living person what you see.
any upkeep on homes.
anything spent on a child it seems.
really the best way to get money back is to have at least 6 kids, make sure they're all sick, keep them in a basement at your huge house, and then buy a failing business with pocket change.
The IRS will just backup a truck full of singles.
the easy way is to be blind
However, the ring will never leave your finger, and you will be unable to ever describe to another living person what you see.
like literally
I earn 24k right
24k x .20 is 4.8k
4.8k - 3.6k is 1.2k / 12 which is 100 a month
bam that's my tax for a year