I just did my taxes

[jdmpsu339]

Originally Posted by chevman

Actually, the majority of your tax dollar goes into either national defense, healthcare, social security, or the servicing of our national debt.

social security is a separate tax (FICA), no?

[chevman]

It is different than income tax, yes. I was speaking in general terms - of all the 'taxes' you pay, etc.

[jdmpsu339]

Originally Posted by chevman

It is different than income tax, yes. I was speaking in general terms - of all the 'taxes' you pay, etc.

yeah I found a handy little chart on line:

22% Defense/Security
21% Social Security
21% MEdicare/Medicaid
9% Safety net programs
9% interest on the debt
18% Everything else

[chevman]

nice, i've seen those too. it's interesting to see it broken down and realize what we're actually paying for versus what you hear people complain most frequently about.

[Number27]

Originally Posted by jdmpsu339

yeah I found a handy little chart on line:

22% Defense/Security
21% Social Security
21% MEdicare/Medicaid
9% Safety net programs
9% interest on the debt
18% Everything else

http://www.wallstats.com/deathandtaxes/

[laststraw41]

Fuck paying income taxes

[Nick@Night]

Originally Posted by laststraw41

Fuck paying income taxes

If only.

[dmbgodagirl41]

Originally Posted by laststraw41

Fuck paying income taxes

Work in a state where you don't "live". Problem solved!

[laststraw41]

Originally Posted by Nick@Night

If only.

http://www.youtube.com/watch?v=GKePl2gW_3M

[majestic]

Originally Posted by dmbgodagirl41

Work in a state where you don't "live". Problem solved!

most state do not have reciprocity, so you will end up paying income tax at least three times (fed, home state, work state, and maybe more depending upon local income tax rules), if someone followed you plan.

[scrock25]

Originally Posted by laststraw41

Fuck paying income taxes

Originally Posted by Nick@Night

If only.

Originally Posted by dmbgodagirl41

Work in a state where you don't "live". Problem solved!

I know a person who does it legally every single year.

[dmbgodagirl41]

Originally Posted by majestic

most state do not have reciprocity, so you will end up paying income tax at least three times (fed, home state, work state, and maybe more depending upon local income tax rules), if someone followed you plan.

It depends on the state and where you work. Some states, you only pay on what you earn in that state. Some states, you pay based on where in that state you reside. So, if you reside in a state that taxes based on money earned, but earn in a state that bases on where you reside, you can legally get around it.

Originally Posted by scrock25

I know a person who does it legally every single year.

The secret is to be a student. Seriously. I'm a grad student, so my legal residence is still in Massachusetts, but I work in Maryland.

(see above reasoning.)

[enigma1434]

Originally Posted by rickyh24

Its like 30 bucks or so for them to do it. I'm pretty sure it would be worth it for you. Plus you can get the money put on a debit card right away. I got half of mine right away and the rest was deposited a day later.

Don't they charge you a percentage of your refund for that? I remember hearing that it was a sizable chunk.

Edit: I meant for the debit card advance.

Originally Posted by Jake

please, don't go to H&R Block.


find a small accountant, or a tax preparer... H&R Block make the same crappy amount no matter what you get back, whereas a tax preparer has taken classes to maximize your savings legally, and gets business from word of mouth, like when you get $3100 back, you tell your friends, and they go to that person.

Not to say that all H&R block people suck, but many of them don't have accounting/tax related backgrounds. They go through the H&R block training, but often times they're not nearly the same skill level as a small accountant/tax preparer.

[majestic]

Originally Posted by dmbgodagirl41

It depends on the state and where you work. Some states, you only pay on what you earn in that state. Some states, you pay based on where in that state you reside. So, if you reside in a state that taxes based on money earned, but earn in a state that bases on where you reside, you can legally get around it.

Not true, not to say there aren't the obsure exceptions to the rule, but generally this is the way it works.

In states that have an income tax, employers are required by law to withhold for ALL employees working in that state.

Likewise, in states with an income tax, residents must report ALL earnings regardless of where the $$ was earned.

At the end of the year you would be required to file 2 returns.

A non-resident return in the state in which you worked which would calculate any liability you had to your employment state.

Secondly a return for your residence state. In which you may or may not get credit (ranging from partial to full based upon various state tax laws) for the amount of tax paid on the non-residence tax return to the employment state.

The only major exceptions to this would be (1) were one of the states do not have an income tax, thus relieving a taxpayer of one or both layers of tax burden, or (2) states that have a reciprocity agreement in which a taxpayer would only be subject to all income earned in the state in which the employee makes his/her permanent residence.

A list of reciprocal agreements can be found here --->
http://www.payroll-taxes.com/articles/reciprocals.html

[dmbgodagirl41]

Originally Posted by majestic

Not true, not to say there aren't the obsure exceptions to the rule, but generally this is the way it works.

In states that have an income tax, employers are required by law to withhold for ALL employees working in that state.

Likewise, in states with an income tax, residents must report ALL earnings regardless of where the $$ was earned.

At the end of the year you would be required to file 2 returns.

A non-resident return in the state in which you worked which would calculate any liability you had to your employment state.

Secondly a return for your residence state. In which you may or may not get credit (ranging from partial to full based upon various state tax laws) for the amount of tax paid on the non-residence tax return to the employment state.

The only major exceptions to this would be (1) were one of the states do not have an income tax, thus relieving a taxpayer of one or both layers of tax burden, or (2) states that have a reciprocity agreement in which a taxpayer would only be subject to all income earned in the state in which the employee makes his/her permanent residence.

A list of reciprocal agreements can be found here --->
http://www.payroll-taxes.com/articles/reciprocals.html

this is what I file. And to be fair, I get all but about 500 bucks back, so I do pay SOME tax to the state of MD.

[zjstrunk]

Has anyone heard anything about the stimulus check and if that reduces your return? A friend of mine claims because he got his check in 2008, it reduced his tax return by $600.

[dmbgodagirl41]

Originally Posted by zjstrunk

Has anyone heard anything about the stimulus check and if that reduces your return? A friend of mine claims because he got his check in 2008, it reduced his tax return by $600.

It won't reduce the tax return, but you will have to pay taxes on the 600 dollars. You have to put it in as a source of income, so it is just added to the amount of money you made last year.

[Nick@Night]

Originally Posted by dmbgodagirl41

It won't reduce the tax return, but you will have to pay taxes on the 600 dollars. You have to put it in as a source of income, so it is just added to the amount of money you made last year.

I don't believe it's taxable, this is from the IRS site:

What is it? It's an economic stimulus payment that more than 124 million households will receive. It's not taxable, and it won't reduce your 2007 or 2008 refund or increase the amount you owe when you file your 2008 return.

[william.hosking]

Originally Posted by Nick@Night

I don't believe it's taxable, this is from the IRS site:

What is it? It's an economic stimulus payment that more than 124 million households will receive. It's not taxable, and it won't reduce your 2007 or 2008 refund or increase the amount you owe when you file your 2008 return.

Stimulus pwn.

[dmbgodagirl41]

Ouch, my bum is slightly sore from my ride on the fail boat. IRS knowlege smack-down.

[AJF_41]

Originally Posted by dmbgodagirl41

Ouch, my bum is slightly sore from my ride on the fail boat. IRS knowlege smack-down.

the internet is serious business

[Crush086]

I did my taxes at HR yesterday. 3 W-2s, and 2 student loan papers cost me 134.

I got 516 from the federal govt, but have to pay the state of ga 148. That blows hard.

[dmbgodagirl41]

Originally Posted by AJF_41

the internet is serious business

I know it's not, but I am not a fan of giving false info. My bad!

[william.hosking]

Originally Posted by dmbgodagirl41

I know it's not, but I am not a fan of giving false info. My bad!

Yet you did it anyway. Heartless.

Edit: To actually contribute to this thread: I am still waiting for my W-2's from the employer that I worked for from Jan-April of last year. They don't have my current address, so I am sure the re-routing through the mail is the holdup.

[enigma1434]

Originally Posted by william.hosking

Yet you did it anyway. Heartless.

Edit: To actually contribute to this thread: I am still waiting for my W-2's from the employer that I worked for from Jan-April of last year. They don't have my current address, so I am sure the re-routing through the mail is the holdup.

I haven't received any of my tax documents yet. I need 2 W2s, 1099s, and my mortgage info.

[Nick@Night]

Originally Posted by enigma1434

I haven't received any of my tax documents yet. I need 2 W2s, 1099s, and my mortgage info.

And here I've already gotten my state return.

[Crush086]

Those ass-clowns at HR just called called me and told me I need to sign paperwork today. I don't think I'm going to them next year, because yesterday was terrible.

[scrock25]

Originally Posted by dmbgodagirl41

It depends on the state and where you work. Some states, you only pay on what you earn in that state. Some states, you pay based on where in that state you reside. So, if you reside in a state that taxes based on money earned, but earn in a state that bases on where you reside, you can legally get around it.



The secret is to be a student. Seriously. I'm a grad student, so my legal residence is still in Massachusetts, but I work in Maryland.

(see above reasoning.)

Yah, I'm not talking about any of those loop-holes or exceptions or anything like that, he just doesn't file. He signs and submits some other kind of paperwork in it's stead every year, and again, it's legal. Couldn't tell you the last time he paid income taxes.

[enigma1434]

Originally Posted by Nick@Night

And here I've already gotten my state return.

I would love to be able to get my own taxes done before I get any more slammed. Lame.

[dh4645]

Originally Posted by mr.MikeD

Getting a tax return means that you gave the government an involuntary, interest-free loan. Feels kind of nice, but it just means that they took more of your money than they were entitled to through the year.

the wife and i are getting about $900 back.

also, to respond to your statement getting a large refund....like a few thousand...is bad money management...if you get a few hundred, then there is no reason to change your withholdings on your w-4

many people mistakenly look at a large refund as a great thing. You are essentially loaning the government $$$ throughout the year and not receiving any interest.