[ARCHIVED THREAD] - Keep me from snapping (Page 1 of 2)
Posted: 2/1/2012 11:37:52 AM EDT
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How does a 26 year old that barely makes ends meat OWE the feds. Every year Ive gotten a decent return, I always do my taxes the same and this year it says that I OWE???? No earned income tax credit but yet they take 1/5 of MY money??? My blood pressure is absolutely boiling. Stuck in a dead end job and government has the galls to take MY money to pay for all these leaches. I hear sailboats are nice, it may be time....
(Im a lurker, but I don't have anywhere else to let off some steam.... Maybe I should get counseling, maybe i can claim that as a deduction) |
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Quoted:
How does a 26 year old that barely makes ends meat OWE the feds. Every year Ive gotten a decent return, I always do my taxes the same and this year it says that I OWE???? No earned income tax credit but yet they take 1/5 of MY money??? My blood pressure is absolutely boiling. Stuck in a dead end job and government has the galls to take MY money to pay for all these leaches. I hear sailboats are nice, it may be time.... (Im a lurker, but I don't have anywhere else to let off some steam.... Maybe I should get counseling, maybe i can claim that as a deduction) welcome to adult hood |
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Quoted:
How does a 26 year old that barely makes ends meat OWE the feds. Every year Ive gotten a decent return, I always do my taxes the same and this year it says that I OWE???? No earned income tax credit but yet they take 1/5 of MY money??? My blood pressure is absolutely boiling. Stuck in a dead end job and government has the galls to take MY money to pay for all these leaches. I hear sailboats are nice, it may be time.... (Im a lurker, but I don't have anywhere else to let off some steam.... Maybe I should get counseling, maybe i can claim that as a deduction) When i was little i thought the people that snapped and went crazy were just messed up in the head. Now I know the reasons they do it and understand. I just think if you're gonna snap at least target people that are somewhat responsible and have a direct hand in it. You can't beat the .gov. Some people know this but can't take 1 more second of it. I used to work a job that really wasn't nothing to be proud of. We made more than minimum wage but it wasn't much more. I worked with a average looking single mother with 2 kids and rumor has it aborted a third (that just what i heard so take it or leave it). Nightly after work she went to the local bar for at least a few beers after work. Partied all weekend and loved to talk about her immature bullshit on mondays. Every time this subject comes up i think of her and just shake my head. This country is broken. At least she always had nice name brand clothes, sweet earrings, and the hottest purses out. I never saw how she or whoever took care of her kids kept them like. |
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Quoted:
How does a 26 year old that barely makes ends meat OWE the feds. Every year Ive gotten a decent return, I always do my taxes the same and this year it says that I OWE???? No earned income tax credit but yet they take 1/5 of MY money??? My blood pressure is absolutely boiling. Stuck in a dead end job and government has the galls to take MY money to pay for all these leaches. I hear sailboats are nice, it may be time.... (Im a lurker, but I don't have anywhere else to let off some steam.... Maybe I should get counseling, maybe i can claim that as a deduction) When i was little i thought the people that snapped and went crazy were just messed up in the head. Now I know the reasons they do it and understand. I just think if you're gonna snap at least target people that are somewhat responsible and have a direct hand in it. You can't beat the .gov. Some people know this but can't take 1 more second of it. I used to work a job that really wasn't nothing to be proud of. We made more than minimum wage but it wasn't much more. I worked with a average looking single mother with 2 kids and rumor has it aborted a third (that just what i heard so take it or leave it). Nightly after work she went to the local bar for at least a few beers after work. Partied all weekend and loved to talk about her immature bullshit on mondays. Every time this subject comes up i think of her and just shake my head. This country is broken. At least she always have nice name brand clothes, sweet earring, and the hottest purses out. I never saw how she or whoever took care of her kids kept them like. I like your new avatar better than your old one. 
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background info....
I live in this ritzy freakin town north of big sky called bozeman that has been overrun with rich people. $725 is my rent. I haven't lived with my parents since I was 18 and never will again. I was a 3.8 gpa in high school but have been stuck slinging parts in the car industry since. Did 2 years of college under scholarships, but nobody gets a job with their degree so sometime I will finish down the road.... I eat in house and only buy things on sale I don't buy the blinging bling. I do have some toys but nothing to be proud of... hell my dirt bike set be back $300. Just seems like its the same rigamarole for ever and I have got to beat it |
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Quoted:
background info.... I live in this ritzy freakin town north of big sky called bozeman that has been overrun with rich people. $725 is my rent. I haven't lived with my parents since I was 18 and never will again. I was a 3.8 gpa in high school but have been stuck slinging parts in the car industry since. Did 2 years of college under scholarships, but nobody gets a job with their degree so sometime I will finish down the road.... I eat in house and only buy things on sale I don't buy the blinging bling. I do have some toys but nothing to be proud of... hell my dirt bike set be back $300. Just seems like its the same rigamarole for ever and I have got to beat it We're here for you
ETA Log out and back in and go poke arount the team forums 
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How do they take 1/5th (20%) of your income? A single taxpayer earning (for example) $25k a year and taking the standard deduction is left with taxable income of $15,500 and federal individual income tax of $1,904 = 7.62% tax A single taxpayer earning $50k a year and taking the standard deduction is left with taxable income of $40,500 and federal individual income tax of $6,380 = 12.76% tax A single taxpayer earning $100k a year and taking the standard deduction is left with taxable income of $90,500 and federal individual income tax of $19,339 = 19.34% tax You would have to be earning over $100k a year to pay 20% of your income in federal individual income tax. |
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Quoted:
How do they take 1/5th (20%) of your income? A single taxpayer earning (for example) $25k a year and taking the standard deduction is left with taxable income of $15,500 and federal individual income tax of $1,904 = 7.62% tax A single taxpayer earning $50k a year and taking the standard deduction is left with taxable income of $40,500 and federal individual income tax of $6,380 = 12.76% tax A single taxpayer earning $100k a year and taking the standard deduction is left with taxable income of $90,500 and federal individual income tax of $19,339 = 19.34% tax You would have to be earning over $100k a year to pay 20% of your income in federal individual income tax. Too much around 10% is reasonable, but nearly 20 
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Quoted:
background info.... I live in this ritzy freakin town north of big sky called bozeman that has been overrun with rich people. $725 is my rent. I haven't lived with my parents since I was 18 and never will again. I was a 3.8 gpa in high school but have been stuck slinging parts in the car industry since. Did 2 years of college under scholarships, but nobody gets a job with their degree so sometime I will finish down the road.... I eat in house and only buy things on sale I don't buy the blinging bling. I do have some toys but nothing to be proud of... hell my dirt bike set be back $300. Just seems like its the same rigamarole for ever and I have got to beat it That is the catalyst. That is why you will beat it. Resolve is a highly underrated virtue. Then it'll get worse, and you'll beat it again. |
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Quoted:
How do they take 1/5th (20%) of your income? A single taxpayer earning (for example) $25k a year and taking the standard deduction is left with taxable income of $15,500 and federal individual income tax of $1,904 = 7.62% tax A single taxpayer earning $50k a year and taking the standard deduction is left with taxable income of $40,500 and federal individual income tax of $6,380 = 12.76% tax A single taxpayer earning $100k a year and taking the standard deduction is left with taxable income of $90,500 and federal individual income tax of $19,339 = 19.34% tax You would have to be earning over $100k a year to pay 20% of your income in federal individual income tax. Math, how does it work? 
Likely the OP means that all his withholding = ~20%. For all we know this might also include a health plan or 401k. |
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Quoted:
background info.... I live in this ritzy freakin town north of big sky called bozeman that has been overrun with rich people. $725 is my rent. I haven't lived with my parents since I was 18 and never will again. I was a 3.8 gpa in high school but have been stuck slinging parts in the car industry since. Did 2 years of college under scholarships, but nobody gets a job with their degree so sometime I will finish down the road.... I eat in house and only buy things on sale I don't buy the blinging bling. I do have some toys but nothing to be proud of... hell my dirt bike set be back $300. Just seems like its the same rigamarole for ever and I have got to beat it We're here for you
ETA Log out and back in and go poke arount the team forums 
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Quoted:
Quoted:
How do they take 1/5th (20%) of your income? A single taxpayer earning (for example) $25k a year and taking the standard deduction is left with taxable income of $15,500 and federal individual income tax of $1,904 = 7.62% tax A single taxpayer earning $50k a year and taking the standard deduction is left with taxable income of $40,500 and federal individual income tax of $6,380 = 12.76% tax A single taxpayer earning $100k a year and taking the standard deduction is left with taxable income of $90,500 and federal individual income tax of $19,339 = 19.34% tax You would have to be earning over $100k a year to pay 20% of your income in federal individual income tax. Math, how does it work?
Likely the OP means that all his withholding = ~20%. For all we know this might also include a health plan or 401k. This is why I posed my questions (very similar to Mark's) in some of the first posts. The OP hasn't answered yet... |
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one of my all time favs. amazing movie |
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its ridiculously simple when your dealing with the crap wages I have 12 bucks an hour
12 bucks an hour x 8 hours a day = $96 $96 a day x 10 day pay period= $960 every 2 weeks $960x26(weeks in the year by half)= $24960 $3500 was taken out for gov. and $800 for state makes $4300 (i rounded up a bit to the the 1/5 figure) |
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its ridiculously simple when your dealing with the crap wages I have 12 bucks an hour 12 bucks an hour x 8 hours a day = $96 $96 a day x 10 day pay period= $960 every 2 weeks $960x26(weeks in the year by half)= $24960 $3500 was taken out for gov. and $800 for state makes $4300 (i rounded up a bit to the the 1/5 figure) I TOLD YOU TO LOG OUT AND BACK IN 
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its ridiculously simple when your dealing with the crap wages I have 12 bucks an hour 12 bucks an hour x 8 hours a day = $96 $96 a day x 10 day pay period= $960 every 2 weeks $960x26(weeks in the year by half)= $24960 $3500 was taken out for gov. and $800 for state makes $4300 (i rounded up a bit to the the 1/5 figure) Your math is correct. You fail to mention what your state and federal returns will be. Please recalculate after and report back. Psst!, you can change your withholdings, lol. Get motivated and change your outcome! I did and I am proud of it. Of course the cost of success is paying alot more than $25k in taxes. You never get used to it. Posted Via AR15.Com Mobile |
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You're right, Bozeman is a crappy place to be. Hated driving through on my way to the snowboarding resort I stayed in last year.
I heard standing on the lawn of the IRS building and flipping them off helps deal with the frustration. There's even a local one in Bozeman, here's the address : 1805 S. 22nd Avenue, Bozeman, MT 59718 |
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Quoted: How does a 26 year old that barely makes ends meat OWE the feds. Every year Ive gotten a decent return, I always do my taxes the same and this year it says that I OWE???? No earned income tax credit but yet they take 1/5 of MY money??? My blood pressure is absolutely boiling. Stuck in a dead end job and government has the galls to take MY money to pay for all these leaches. I hear sailboats are nice, it may be time.... (Im a lurker, but I don't have anywhere else to let off some steam.... Maybe I should get counseling, maybe i can claim that as a deduction) Remember this when you vote. If you don't vote, don't bitch. If you do vote, but vote for people who vote to raise your taxes, again... don't bitch... Lather. Rinse. Repeat. |
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Quoted: its ridiculously simple when your dealing with the crap wages I have 12 bucks an hour 12 bucks an hour x 8 hours a day = $96 $96 a day x 10 day pay period= $960 every 2 weeks $960x26(weeks in the year by half)= $24960 $3500 was taken out for gov. and $800 for state makes $4300 (i rounded up a bit to the the 1/5 figure) On income of $24,960, a single taxpayer taking the standard deduction owes $1,896 federal individual income tax (7.60%), you should also have paid 4.2% social security tax and 1.45% medicare tax. Add those together and you get $3,555.84 to the Fed. Your $3500 number seems accurate.
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its ridiculously simple when your dealing with the crap wages I have 12 bucks an hour 12 bucks an hour x 8 hours a day = $96 $96 a day x 10 day pay period= $960 every 2 weeks $960x26(weeks in the year by half)= $24960 $3500 was taken out for gov. and $800 for state makes $4300 (i rounded up a bit to the the 1/5 figure) I TOLD YOU TO LOG OUT AND BACK IN Some folks just cant be helped....lol |
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I'm pissed too.
I made about 24K last year and the few years before, but never did my taxes because they always said I owe. This is with holding about 20% like you OP. Well I took my stuff to a tax prep that my gf knew and she got me about $3K from those few years back. I show up this year and she tells me I owe $99. WTF!!
I'm gonna have to take a hard look at deductions from last year. |
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They tax you when you make money, they tax you when you spend money. They even tax you if you save money. The government will get your money one way or another. Now get back to work! Sequesha just had another kid and the baby needs Air Jordans. Ain't that the truth.
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Quoted:
How does a 26 year old that barely makes ends meat OWE the feds. Every year Ive gotten a decent return, I always do my taxes the same and this year it says that I OWE???? No earned income tax credit but yet they take 1/5 of MY money??? My blood pressure is absolutely boiling. Stuck in a dead end job and government has the galls to take MY money to pay for all these leaches. I hear sailboats are nice, it may be time.... (Im a lurker, but I don't have anywhere else to let off some steam.... Maybe I should get counseling, maybe i can claim that as a deduction) That happened to me about the same age. Turns out I fucked something up on my 125s so I had to pay. I don't recall what I did, but it was pretty much the exact thing you're not supposed to do. Check your 125s/401k/W-2 withholding, etc. to make sure it isn't something you have unwittingly done to yourself. |
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if you really want to cry now add in sales and other taxes you pay on goods you buy. your tax rate is closer to 50+% Quoted:
They tax you when you make money, they tax you when you spend money. They even tax you if you save money. The government will get your money one way or another. Now get back to work! Sequesha just had another kid and the baby needs Air Jordans. This thread makes me so fucking mad. GRRRR!!! FFFFFUUUUUUUUUUUUU!!!1!!!one
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They tax you when you make money, they tax you when you spend money. They even tax you if you save money. The government will get your money one way or another. Now get back to work! Sequesha just had another kid and the baby needs Air Jordans. Forgot one: They tax the money in your cold dead hands. |