Taxes: Where is my money going?

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Dude, I got my bonus check today and I ain't got money left after the taxes. What the hell? Where does all this money go? This is a totally serious question, because the same thing happened last year and I STILL owed money come April. Are they using it on drugs? It's totally bizarre.

Ally (mlescaut), Saturday, 21 December 2002 03:56 (twenty-three years ago)

It's for those submarine ashtrays that break into 3 pieces - those things aren't cheap.

Or: it goes the same place the church collection plate moolah goes - into coffee & donuts.

David R. (popshots75`), Saturday, 21 December 2002 04:36 (twenty-three years ago)

a recent letter I received that made me wonder what the point of paying taxes was

"Dear Property Owner,

In recent years, Arlington County has been increasing its attention to pedestrian issues, to help make walking safer and more pleasant.....Property owners in zoning categories which include the one for this property are responsible for constructing, improving, replacing or enlarging sidewalks, driveways, alleys, sanitary or storm facilities, curbs and gutters in the public easement or the right-of-way adjacent to their property"

First of all, why the hell do we pay property taxes if the county is not going to fix sidewalks etc..

the letter then goes on to outline options. they've assessed the necessary work and it will cost 22,000 dollars!! and you can
1) hire a contractor to do the job
2) use the Arlington county contractor (for a 500 dollar rebate - see below)
3) ignore options 1 & 2 and they will take a lien against your house to have the work done

oh yeah, the letter said you have 30 days to deal with this. Upon checking the Arlington county website I found out that 2 years ago they passed this regulation that says the county is only responsible for up to 500 dollars of work and that beyond that they can hit up the residents if they choose. So, remind me again why we pay taxes.

H (Heruy), Saturday, 21 December 2002 13:37 (twenty-three years ago)

H, if you live in the U.S. most courts have upheld the reversal of these kinds of land use laws through referendum. I would imagine many of the residents aren't pleased; check your applicable city ordinances and start collecting signatures. You can probably put this law on the ballot next time around and repeal it.

webcrack (music=crack), Saturday, 21 December 2002 16:29 (twenty-three years ago)

Since White On Blonde Sharleen Spiteri has been primary songwriter, so I'd assume the majority of the royalties go to her.

(sorry)

Graham (graham), Saturday, 21 December 2002 16:43 (twenty-three years ago)

Graham, you answered the wrong thread!

David R. (popshots75`), Saturday, 21 December 2002 16:59 (twenty-three years ago)

(I hadn't seen that yet. blub)

Graham (graham), Saturday, 21 December 2002 17:04 (twenty-three years ago)

Sharleen Spiteri is a bitch.

Ally (mlescaut), Sunday, 22 December 2002 02:10 (twenty-three years ago)

how many deductions do you take for withholding, Ally? also, do your wages fluctuate paycheck-to-paycheck (i.e., lots of overtime one pay period, then just 9-5 the next)?

don't answer if that's too personal, though.

Tad (llamasfur), Sunday, 22 December 2002 02:28 (twenty-three years ago)

Hahaha, why is that personal? You aren't asking for specific numbers. No, I don't get paid any overtime at all, so it's always the same. I don't do any deductions, I claim 0.

Ally (mlescaut), Sunday, 22 December 2002 02:36 (twenty-three years ago)

well, not taking any withholding deductions will take more taxes out of yer paycheck per pay period. so that accounts for some of the taxes coming out of the check.

i wonder if this bonus that you get pushes you into a higher bracket, both when the bonus is paid and when you do yer tax returns -- that may explain why you still owe money at the end of the year ('cause if you under-withhold, you probably shouldn't owe anything and may be due for a refund).

that's the only explanation that i can think of, based on what you've said so far.

Tad (llamasfur), Sunday, 22 December 2002 02:54 (twenty-three years ago)

That's what I'm saying though, ok, so they take out $8 trillion in taxes - why should I owe anything? I thought not claiming means they'd withhold MORE than enough taxes. But the past several years, I've owed, i.e. every year I've worked at this company.

It I'm being pushed into a higher bracket via bonuses, wouldn't the huge luxury/estate tax type withholding on the bonus (it's around 50%) more than pay for the higher percentage?

Ally (mlescaut), Sunday, 22 December 2002 03:06 (twenty-three years ago)

Sharleen Spiteri is a bitch.

Ally, she's actually a friend of mine so where did you get this idea? I got sent to interview her a few years ago for the cover of Edgy Style Mag and we hit it off, which doesn't happen much for me. She works her ass off most of the time (on music I don't like apart from her voice, yet she has interesting taste in just about everything else) but is the type of person who takes care to remember birthdays and such, and she's fucking funny too.

suzy (suzy), Sunday, 22 December 2002 23:30 (twenty-three years ago)

Dude, suzy, no offense but did you read the thread? ie Graham says Sharleen Spiteri is stealing my money, I say she is a bitch. ??!

Ally (mlescaut), Monday, 23 December 2002 03:28 (twenty-three years ago)

*chortle*

suzy (suzy), Monday, 23 December 2002 07:25 (twenty-three years ago)

one year passes...

For astronauts who die in the line of duty, income tax is forgiven for the year of death and the previous year. For the crew of the space shuttle Columbia, income tax is forgiven for 2002 and 2003.

http://www.irs.gov/formspubs/article/0,,id=109876,00.html#astronauts_2003

dean! (deangulberry), Thursday, 22 January 2004 17:57 (twenty-two years ago)

A real classy gesture. Thanks, government! You guys rock!

dean! (deangulberry), Thursday, 22 January 2004 17:58 (twenty-two years ago)

four months pass...
do your wages fluctuate paycheck-to-paycheck (i.e., lots of overtime one pay period, then just 9-5 the next)?

Ummm...This is me, actually. How do I stop myself eventually going up into a higher tax bracket?

@d@ml (nordicskilla), Tuesday, 25 May 2004 17:41 (twenty-two years ago)

Easy. Give your spare money to charity, IE me.

Ned Raggett (Ned), Tuesday, 25 May 2004 17:44 (twenty-two years ago)

Is that deductible?

@d@ml (nordicskilla), Tuesday, 25 May 2004 17:48 (twenty-two years ago)

Depends on how you report it.

Ned Raggett (Ned), Tuesday, 25 May 2004 17:49 (twenty-two years ago)

you would have to make a resonable guess and average your overtime pay for the year. typically speaking, if you correctly filled out your (that is, both you and your wife's) w4s correctly, the bookkeepers at your job will still do the withholding correctly. But there is a high likelihood that they will screw it up, so keep checking the irs.gov withholding calculator every month or two with all your paystubs and find out if you're falling behind.

otherwise, yes, save up a bunch of that money and give it to charity before the end of the tax year. Ned is not a registered charity.

kyle (akmonday), Tuesday, 25 May 2004 17:52 (twenty-two years ago)

*sniffles*

Ned Raggett (Ned), Tuesday, 25 May 2004 17:53 (twenty-two years ago)

bonuses are usually taxed at a higher rate to account for the possibility of it screwing up your tax bracked.

kyle (akmonday), Tuesday, 25 May 2004 17:56 (twenty-two years ago)

keep checking the irs.gov withholding calculator every month or two with all your paystubs and find out if you're falling behind.

Can you expand on this? Taxes are so much simpler in the UK.

@d@ml (nordicskilla), Tuesday, 25 May 2004 18:16 (twenty-two years ago)

bonuses are usually taxed at a higher rate to account for the possibility of it screwing up your tax bracked.

actually, it's because bonuses do not fall into the same income category as your straight wage. it's to prevent all companies from paying employees minimum wage and then presenting bonuses as your real wage at one time, an obvious tax benefit.

gygax! (gygax!), Tuesday, 25 May 2004 18:24 (twenty-two years ago)

aha, I knew there was some reason.

Taxes are so much simpler in the UK.
yes but you also have to support all that evil socialized medicine over there!

@d@m go here:

http://www.irs.gov/individuals/article/0,,id=96196,00.html


gather all your household paystubs for the year, plug stuff in. there is some estimating you will have to do. the end figure that it gives you should be more or less correct, but you'll have to do a lot of estimating on your overtime.

there are probably other calculators for dealing with this as well.

kyle (akmonday), Tuesday, 25 May 2004 19:31 (twenty-two years ago)

two years pass...
War tax resisters defy IRS


Peter Goldberger, [a] defense attorney who practices in suburban Philadelphia, has represented dozens of war-tax resisters.

He said that in general, the IRS goes easier on war-tax resisters than on the far larger universe of people who aren't paying because they simply want to keep the money or because they are affiliated with groups that claim the federal government is not legally entitled to collect taxes.

"Some of these folks go out of their way not to earn a taxable income," Goldberger said of the war resisters. Others generally file timely returns and explain why they're not paying some or all of what they owe.

"That protects them against most of the penalties the IRS can impose. Penalties are geared toward the level of deceit," Goldberger said.

The federal government filed criminal charges against war-tax resisters fewer than 50 times since World War II.

Dr Morbius, Tuesday, 17 April 2007 15:36 (nineteen years ago)

that's a nice idea but I have a hard time believing the IRS is going to go easy on anyone.

akm, Tuesday, 17 April 2007 17:21 (nineteen years ago)

The federal government filed criminal charges against war-tax resisters fewer than 50 times since World War II.

I have a feeling this is extremely misleading, since it only refers to the filing of criminal charges. Criminal charges are beside the point. The point is money.

The IRS much prefers to place liens on your assets or garnish your wages, since this is so much simpler and meets their primary goal of recovering the money you owe, plus the interest on it, plus the penalties they imposed.

Aimless, Tuesday, 17 April 2007 17:29 (nineteen years ago)

The IRS is doing way more middle-class audits, acc to a NY Times article last week.

Dr Morbius, Tuesday, 17 April 2007 17:33 (nineteen years ago)


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