Anyone else just write a check while swearing at the top of your lungs?

[lemon boy]

well there you go!

[Core Shot]

It may be but the way the sales tax deduction works is from a table based on income. You can then add in sales tax for a specific item such as an automobile. It is still better for most to take income taxes unless you live in WY, NV, TX, FL, WA where there is no state income tax.

Ahah! It was the rich old farts of Florida that lobbied for that one!
After years of deducting income tax they moved to FL and decided they needed more money from the rest of us. Wonder how much lost revenue this new loophole will cost us. Fuck you you fuckity fucking Aarpholes.

[lemon boy]

try again.

[mcsquared]

What's really funny, I just got my W-2 late (lost in the mail, legit) from a little job I had just before I moved. Punched it through the 1040, and ended up paying more money than I made at that job. I.E. I made 3.5 lapdances at the jobby job, and then the IRS took 3.7 lapdances after I added it in since that 3.5 lapdances pushed me into a higher bracket. That job ended up costing me -0.2 lapdances. I paid the government to work. Fukkers

You might want to double check that. Doesn't sound right. The higher tax bracket only applies to each dollar over the threshold. For example the threshold between the 15% bracket and the 25% bracket is $29,050. If you taxable income is 29,150 you only pay $25 for that extra hundred dollars of income. There is no way that I can think of that the added tax liability will exceed the earnings that is being taxes. I.E. There is no 110% tax bracket.

[UTdave]

You might want to double check that. Doesn't sound right. The higher tax bracket only applies to each dollar over the threshold. For example the threshold between the 15% bracket and the 25% bracket is $29,050. If you taxable income is 29,150 you only pay $25 for that extra hundred dollars of income. There is no way that I can think of that the added tax liability will exceed the earnings that is being taxes. I.E. There is no 110% tax bracket.

What I think he meant was that he owed more because the amount withheld was at a lower rate and therefore didn't account entirely for the additional taxes produced by the income.

[mcsquared]

What I think he meant was that he owed more because the amount withheld was at a lower rate and therefore didn't account entirely for the additional taxes produced by the income.

True, but even if there was nothing withheld from that job there is no way that he will owe 3.7 lapdances because of the 3.5 lapdances he made at that job.

[dubu]

all I gotta awy if fu gov..

gow fucked up is it that they can actually penalize you for paying them money..

fuck you fuckers.

[TomK]

I...the way the sales tax deduction works is from a table based on income. You can then add in sales tax for a specific item such as an automobile. It is still better for most to take income taxes unless you live in WY, NV, TX, FL, WA where there is no state income tax. ...

Instead of using the IRS table, we just toss all reciepts into a box and spent an hour entering the sales tax amouts into a simple Excel spreadsheet to get the SUM. Bundled the reciepts with a hardcopy of the sheet for records, and tossed the non-tax reciepts. We accounted for a couple of hundred vs the IRS table because that's based on state-wide sales taxes only and we also have a county sales tax.

[1080Rider]

It's sickening when you look at all the tax you give at the cash register and in your pay check each year. It's proff government is way to big, I used to think Republicans would try to get it under control if they were in power. Boy was I wrong.

Good point lurch. Not to turn this into a political thread but I beleive Repub's have lost their way. No smaller gov't under repub's. Gotta go libertarian and maybe someday we'll get this shit under control.

Y'all know that we work until May 1 for the man, right? We still haven't made a penny this year, think about that.

[UTdave]

Instead of using the IRS table, we just toss all reciepts into a box and spent an hour entering the sales tax amouts into a simple Excel spreadsheet to get the SUM. Bundled the reciepts with a hardcopy of the sheet for records, and tossed the non-tax reciepts. We accounted for a couple of hundred vs the IRS table because that's based on state-wide sales taxes only and we also have a county sales tax.

Actually you can account for your local sales tax with the table as well. The IRS provides a worksheet for the sales tax deduction. You take the amount based on the state and adjust it for your additional local sales tax. If anybody wants more information on the sales tax deduction see IRS publication 600. That said if actual > table take actual.

[mr_gyptian]

coreshot- Not dealing with the income tax side really I would tell you that as a general rule of thumb, shit you can't prove you will get fucked on. I haven't read all the in depth rules on the sales tax Schd A though nor do I have access to the IRS audit manual for Schd A.

Please don't get me started on the flat tax and why it is a bad idea (or at least do it in a new thread). I will ownerize you.

where are you on moving towards consumption taxation?

[Superstar Punani]

This part pisses me off.

[Peter Venkman]
Next time somebody asks you "Did you make any income outside the United States, you say NO!

Why should the US Govt tax shit made in another country, when that other country's govt is already taxing the shit out of the shit a person makes in that country? Conversely, that other country also wants to tax shit that that person made here in the US, which the US has already taxed them for!

Fuck them both! Fuck them both in the ass with a ten foot pole!

Example: Dual citizen Johnny Pussyeater works as a Manwhore in Vulvada and Labialand. He pulls in 1000 lap dances in Vulvada, and 500 lapdances in Labialand. Vulvada and Labialand tax him at 30%

Gross Income for both = 1500 lap dances
Tax rate 30%
Vulvada net income = 666.66
Labialand net income = 333.33

To add insult to injury, Labialand also wants 30% of the Vulvada income, and vice versa, to which Johnny Lapdancer tells them to go fuck themselves.

[mr_gyptian]

This part pisses me off.

[Peter Venkman]
Next time somebody asks you "Did you make any income outside the United States, you say NO!

Why should the US Govt tax shit made in another country, when that other country's govt is already taxing the shit out of the shit a person makes in that country conversely, that other country also wants to tax shit that that person made here in the US, which the US has already taxed them for!

Fuck them both! Fuck them both in the ass with a ten foot pole!

Example: Dual citizen Johnny Pussyeater works as a Manwhore in Vulvada and Labialand. He pulls in 1000 lap dances in Vulvada, and 500 lapdances in Labialand. Vulvada and Labialand tax him at 30%

Gross Income for both = 1500 lap dances
Tax rate 30%
Vulvada net income = 666.66
Labialand net income = 333.33

To add insult to injury, Labialand also wants 30% of the Vulvada income, and vice versa, to which Johnny Lapdancer tells them to go fuck themselves.

this is also pretty much every single multinational corporation's contention. taxation of monies earned outside of the US, that is.

[board]

if you buy a car during the year (or are planning to) that has a value anywhere approaching your annual income then it very well may work well for you to track your sales tax over the year, ]

If you purchased a car that approaches your yearly salary you are mildly retarded. This is a prime reason why American's are currently at the lowest point in our history in regards to personal savings, we just can't resist shiny things with big wheels.

[Core Shot]

FYI Re: sales tax deduction.

HOME IMPROVEMENTS are included!!
So, if you did a remodel, addition, etc., find out what you paid in sales taxes and tack that onto the amount from the sales tax tables in Publication 600. http://www.irs.gov/pub/irs-pdf/p600.pdf

Wooo hoooo! mo money fo me!

Anyone who bought a car, boat or home improvement materials should seriously consider taking this route.

Fuck you fuckity fucking greedy tax man.

[UTdave]

FYI Re: sales tax deduction.

HOME IMPROVEMENTS are included!!
So, if you did a remodel, addition, etc., find out what you paid in sales taxes and tack that onto the amount from the sales tax tables in Publication 600. http://www.irs.gov/pub/irs-pdf/p600.pdf

Wooo hoooo! mo money fo me!

Anyone who bought a car, boat or home improvement materials should seriously consider taking this route.

Fuck you fuckity fucking greedy tax man.

Maybe. The deduction is state/local income taxes or sales tax. If income tax is higher then no. Of course if you live in one of the no income tax states collect money and celebrate.

[Superstar Punani]

If you purchased a car that approaches your yearly salary you are mildly retarded. This is a prime reason why American's are currently at the lowest point in our history in regards to personal savings, we just can't resist shiny things with big wheels.

Agreed.

If you get pussy while driving this,


than you don't need this


But it is so choice. If you have the means, I highly recommend picking one up.


(Edit - while on a car tangent, I just learnt this year that you can deduct DMV fees if you itemize)

[lemon boy]

SuPu- The part you left out is that both labialand and vulvada allow credits for tax paid in another country (and really, it is your country of residence) which basically (though not always in fact 100% accurately) means you only pay tax on the rate differential, ie: if Labialand has a 30% rate and his home country of Vulvada has a rate of 35% he would only pay 5% on his Labialand income. You can go ahead and insert that "You gonna get raped" picture if the Vulvada land IRS catches you out.

Mr_G:

For the US I am catagorically against an kind of Federal consumption tax. It is a bad idea of truely gargantuan proportions. My reasons for this are legion.

I know you've posted here but don't know if you remember: My proposal: Tax Stasis

[Pinner]

[powpig]

So much anger and sadness in this thread.

So much good information out there on taxes. Get informed!

http://www.861.info/
http://www.theft-by-deception.com/
http://www.taxableincome.net/
http://www.givemeliberty.org/

[el_jefe]

I'd like to have a say on the income tax
Don't wanna help build bombs and that's the facts
No money for health care, so what's the catch?
The man got you locked with no keys to the latch
-beastie boys

[shamrockpow]

LB: there are some very strong arguements to be made for a national VAT tax if it means eliminating the income tax:
1. Consumption can come much closer to approximating a fair lifetime income tax rate as opposed to yearly income filing.
2. We would eliminate complicated rules for capital gains and corporate taxation.
3. The decision of how much tax to pay would ultimately devolve to individual choice. Don't want to send Uncle Sam that extra $2000 this year? Skip the new car and keep driving your shitbox.
4. VAT taxation can be as progressive as the American people deem appropriate. The basic concept is that every single person would be given a lump sum dispersal (or credit) to pay for taxes on basic necessities (food, clothing, shelter). This type of system would be much harder to cheat and would insure more vertical equity. Most importantly, the system would be transparent enough to allow for real discussion of the tax code. Right now, 98% of Americans pay the exact same average tax rate, but it takes billions of pages of paperwork to get there.


At least none of you live in Massachusetts: they want to collect on my Utah W-2s

[Buzzworthy]

Yea, I saw that shit in TurboTax - WTF??? Like I am supposed to save all my receipts for everything I bought?

But, turbotax lets you create an assumed base level of salestax paid (based on your income and state tax rate) and then you get to add large ticket items on top of that. Saves some PITA, but is that really an accurate method???

This whole tax system is fucked up.
Bring on the flat tax.
close the loopholes and deductions.

By Turbo Tax telling me about the large ticket items, I did end up saving a few hundred when I bought the Subaru, sales tax put into the program. Glad I saw that.

Next year (with all the rebate crap and whatno), having them done. Kids comes into play and some other wife works for govt agency stuff, not going to deal with all that.

[Buzzworthy]

And Buzz I've actually cut back this week. And I'm sleeping in until 7:30 on Saturday.

Boy, you are out there on the edge. (with baby, Im lucky to get to 7:30, any day)

You getting any good at this shit, maybe I will hire you next year. Maggot discount?

[LAN]

This year we're getting a refund again (thank God). Last year scoob moved, so we got quite a break on that. This year, we bought our house. Looks like we're either going on vacation, or each going on the first shopping spree ever.