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Author
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Topic: So, who else is paying taxes?
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wilit
Mustang Messiah
Member # 3367
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posted
 
 
Technically we all pay taxes, it's just at the end of the year when we square up with Uncle Sam, some overpaid and get some money back and some under paid and owe more. This last year I had $15k taken out just by the feds. I'm one of those lucky ones who overpaid, so Uncle Sam is giving me $2500 back.
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"If a man hasn't found something worth dying for, he isn't fit to live." - Martin Luther King Jr.
Posts: 4793 | From: 37.78514° North 122.40100° West | Registered: Oct 2003
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CAStang
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Member # 9568
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posted
I claim 0, deduct 10% for 401K and still got slapped with a 8K IRS bill. So I guess this country isn't as "Free" as they say...
Posts: 351 | From: Santa Clara | Registered: Nov 2009
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BULLITTMAN
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Member # 8468
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posted
I usually get back 4k a year but I'm a home owner.
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R.I.P Little Bro Willie Guzman (5LTRSVT) 4/24/87 - 11/23/12
01 Bullitt #3102 Stroked and blown
Built and tuned by Shaun at AED
14 Fiesta ST
Posts: 1354 | From: San Jose | Registered: Jun 2008
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87Fox916
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Member # 6399
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posted
I am paying 10k this year. Good thing my bonus was 15k. No toys this time around.
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87 Mustang GT
Posts: 1652 | From: SACRAMENTO | Registered: Jan 2006
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Blind
2.3L
CAFords OG
Member # 3052
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posted
quote:
Originally posted by 95GTConvtACE:
I am paying 10k this year. Good thing my bonus was 15k. No toys this time around.
I'm curious to see how bonus's are dealt with. I usually only have a small bonus like a few thousand, but last year our video game paid out and I received almost $20k in profit sharing bonus's.
My accountant hasn't told me what's going to happen yet, if I have to pay or if I get a huge refund because those checks were taxed at a higher rate ![[Confused]](confused.gif)
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89 LX Notchback ex 4cyl, 14psi
02 Harley F150, 15psi
Posts: 8521 | From: Fairfield | Registered: Jul 2003
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87Fox916
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Member # 6399
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posted
quote:
Originally posted by Blind:
quote:
Originally posted by 95GTConvtACE:
I am paying 10k this year. Good thing my bonus was 15k. No toys this time around.
I'm curious to see how bonus's are dealt with. I usually only have a small bonus like a few thousand, but last year our video game paid out and I received almost $20k in profit sharing bonus's.
My accountant hasn't told me what's going to happen yet, if I have to pay or if I get a huge refund because those checks were taxed at a higher rate
I seem to get hit both at time of payment on bonus roughly 40% then at end of year.
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87 Mustang GT
Posts: 1652 | From: SACRAMENTO | Registered: Jan 2006
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SSF_5.0_WARRIOR
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Member # 10170
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posted
quote:
Originally posted by 510 mob shit:
Claiming 0 all year and still paying?? The question is ,is WHO'S doing your taxes? Because something here is defiantly not right?
Agree, last year I got my taxes done at a senior volunteer place. (All old folks, ex IRS agents people like that) the old lady told me, "Always claim 0 since you have no house or kids and you won't owe and will get at least a small amount back". They take a shit load off every paycheck but I didn't have to pay and got like $1500 back.
Uncle Sam sucks ass tho, next year I'm claiming my grandma on that foo as a dependent!! ![[Big Grin]](biggrin.gif)
Posts: 952 | From: South San Francisco | Registered: Jul 2010
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venomous99
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Member # 1917
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posted
refunds...what's that?
![[Wink]](wink.gif) ![[Razz]](tongue.gif)
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MKII Q7
89LX
Posts: 4811 | From: dc | Registered: Oct 2002
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andyman_2k01
CAFords OG
Member # 1448
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posted
I paid about 8k this year altogether. It felt like a bottomless pit in my stomach when I had to write the gov't the checks.
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-00 Mustang GT (R Clone)
-99 Saleen Convert. #231-SOLD
Posts: 1503 | From: Bay Area, CA | Registered: Jun 2002
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nitrous_bob
CAFords OG
Member # 77
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posted
oh shit...my GF said to say thanks to you
then she made you a video...after she got up all early like noon and shit
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5.0 OG since 1990
Posts: 1402 | From: st clair shores MI | Registered: Nov 2000
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