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Tax time
grumpygy
Member Posts: 48,464 ✭✭✭
Well you have heard from me on taxes that I just do not understand.
Guy makes the same as me Pulls in $26,000 at max per year Gross.
He is getting Back $13,000 the Max he could have paid in Tax $1,300.
Because He has two Kids and a None working Wife he in the end Makes More than Me and That Included My Military Retirement.
Why do I have to Pay for other Peoples Kids. I'm Penalized cause I don't have Kids.
Kind of makes me wonder why I have worked so hard all these years when If I just kicked back and Made less I would make more.
Guy makes the same as me Pulls in $26,000 at max per year Gross.
He is getting Back $13,000 the Max he could have paid in Tax $1,300.
Because He has two Kids and a None working Wife he in the end Makes More than Me and That Included My Military Retirement.
Why do I have to Pay for other Peoples Kids. I'm Penalized cause I don't have Kids.
Kind of makes me wonder why I have worked so hard all these years when If I just kicked back and Made less I would make more.
Comments
My question is, what can be done? If I do not pay my taxes I will go to jail. But, I cannot keep "donating" more and more.
Others have said a tax revolt will have to take place. How will we go about it? Are you willing to be one of the first to refuse to pay your taxes and do prison time for it?
Others say let your vote speak. Well, we all know how well that works.
Opinions?
Enough said?
To Ride, shoot straight,and speak the truth
This was the Ancient law of Youth
Old times are past, old times are done:
But the Law runs true, O little son!
At least the govt finally started confiscating tax returns on worthless losers that failed to pay back their students loans.
Flat out told me that Unemployment is not taxed, Didn't matter anyway he gets it all Back. Could not get it thru his head they needed the numbers so they could file.
Some reason this just hits a nerve and digs in cannot get it out of my mind.
With a MFJ return and two kids under age of 17, the refund would be just over $6,200 plus whatever federal income tax he had withheld from his paychecks. I highly doubt he had $7,000 of federal and state withholdings on $26,000 of income. If both kids were 17 or older, the refund would have been $2,000 less.
As to the unemployment, with exactly $26,000 of income the first $400 of the unemployment would not have been taxable but everything over that would have cost him. Plus, it would have decreased the earned income tax credit he would have received. So, yes the unemployment would definitely have affected his refund.
I bet that he knew how you felt about people getting big refunds and fed you a line just to get your blood pressure up, and it apparently worked pretty well [:D][:D].
Grumpygy, don't believe everything people tell you about their taxes. A lot of people like to brag or maybe even stretch the truth about how much they get back just to get a person riled. It is practically impossible to get back $13,000 on $26,000 of income with two kids and one wife.
With a MFJ return and two kids under age of 17, the refund would be just over $6,200 plus whatever federal income tax he had withheld from his paychecks. I highly doubt he had $7,000 of federal and state withholdings on $26,000 of income. If both kids were 17 or older, the refund would have been $2,000 less.
As to the unemployment, with exactly $26,000 of income the first $400 of the unemployment would not have been taxable but everything over that would have cost him. Plus, it would have decreased the earned income tax credit he would have received. So, yes the unemployment would definitely have affected his refund.
I bet that he knew how you felt about people getting big refunds and fed you a line just to get your blood pressure up, and it apparently worked pretty well [:D][:D].
No this Idiot has no clue since I keep it inside. His tax paid for the Year would be about $1,300. Have seen his Pay stub. Also saw his last year refund of just over $10,000. Would love to see him get an Audit. He will put most of this into his Honda Civic(a real Piece of Junk)Tuner Car.
He rents and is in Section 8, Has his Utilities Subsidized, Health car for his Kids are Paid by the state.
So how can he have any deductions.
For reasons that have never been made entirely clear; someone somewhere decided a very long time ago that American taxpayers should be married, have a passel of brats and live in their own home...preferably with a mortgage. The deductions for kids, well I can understand that one (they suck up money and typically don't generate any income). Writing off my mortgage interest? I'll gladly take it (along with my property tax and State income tax deductions). As to why married folks are taxed differently than single taxpayers? That one is a mystery to me.
WRONG! They have decided older people should NOT be married. There is a slightly larger old geezer deduction for older singles & a MASSIVE marriage penalty built into the tax on Social Security benefits.
If he had $1,300 of withholdings and no college tuition expenses, his refund would have been $7,516. No more.
As I said before, on a MFJ return with $26k of income the refund would be $4,216 of earned income tax credit and $2,000 of child tax credit for $6,216. The only other way he could get more of a federal refund would be from federal income tax withholdings from his paycheck and if he had any college expenses he could get the American Opportunity Tax Credit on. That's it. All the other credits are what they call "non-refundable", meaning if his tax liability is zero (which in this case it would be) he would not get those back.
If he had $1,300 of withholdings and no college tuition expenses, his refund would have been $7,516. No more.
Wow are you ever close. The place he went to would not front him the Money so He had his taxs done elsewhere. Now he is pissed cause he is not getting back as much. All He said was he is now getting less than $8,000.[:o)]
Around here, the people getting big 'refunds' get far more money back than they ever paid in, if they paid in at all. Most are not married. Welfare bums. More kids = more 'free' money[:(!][:(!]
At least the govt finally started confiscating tax returns on worthless losers that failed to pay back their students loans.
unemployment is taxed on the federal form....maybe not on the "paycheck"[;)]
Refund So Far.
Fed $78
State $1606