Economy
Related: About this forumdixiegrrrrl
(60,010 posts)We pay NO state/fed income tax, no property tax.
Just sales tax.
The upside for living below the taxable income/soc. Sec. cut off.
NMDemDist2
(49,313 posts)sorry you're in the no tax bracket, but glad they aren't painful
I did ours and we're in the top 25% of wage earners and ended up only paying 10% federal
i don't get the tea party growling about taxes being too high.... i really don't get it
dixiegrrrrl
(60,010 posts)Paying annual taxes ( state/fed income tax) is one thing
but if you get any kind of a paycheck with deductions taken out, that is another kind of tax.
i remember when I was working ( as recently as 2002) I paid 38% of each check in deductions:
Soc Sec
Medicare
State unemployment
etc
which really shrank the take home.
Warpy
(111,252 posts)They're complicated and usually by then the first amended 1099s have come in.
The second amended 1099s show up in June, meaning I have to do a 1040X then. If I'm lucky, no more foreign jive happens and that's it for my taxes.
And Reagan said his scam was so simple we could do them on a postcard.
phantom power
(25,966 posts)I think the rule is you have until Jan 31 to get people all their tax docs. Although last year some jackass even missed that deadline.
Fuddnik
(8,846 posts)We increased our withholding substantially about 18 months ago, so we should get a pretty big return. The reason we increased it so much, is I thought we'd qualify for a large HCTC (Health Care Tax Credit) two years ago, and it turns out we didn't qualify, so I had to ship the IRS over $3000. Last year we got back $3000.
Should get slightly more this year, but the middle of Feb., our ridiculous Florida homeowners insurance is due. Along with flood insurance. So, kiss that good-bye.
magical thyme
(14,881 posts)for education credit. I'm low income, so will get back all the fed income taxes I paid, along with ~$1,000 education credit. The state refund will be miniscule by comparison, but at least their online form is simple and works.