I work in the IT field, and make pretty good money, but over the holidays I have about 3 weeks off and this year decided I wanted to get out and interact with people more and took a holiday job over at Macy's. I knew going into it wouldn't make much money, which I didn't care about, just wanted to get out and about.
I ended up really enjoying my time at Macy's and had a blast. It was great -- very, very busy -- but great.
So filing my taxes and almost forgot to enter that W-2. I go in and enter it and pretty much over half of what I made there got taken in taxes. I just rolled my eyes. This was on top of them deducting taxes as well!
I know there are lots of people getting surprised by their refunds turning into "payments due" this year. Just thought I'd share my tax story as well.
I think we are quickly approaching the point where the people are going to start to revolt to be honest.
I remember hearing that there was a change in the tax laws last year, and for me at least, I think it ended up in me taking home more money throughout last year rather than having a bigger refund this year. I suspect that may have happened to other people too. I've heard it's actually better to bring home more money through the year rather than to get a big tax refund,
I've never gotten a big tax refund. I invest heavily in my 401k, and still pay mega-taxes (well into the 5 figures). Yet people having babies left and right keep getting "credits" (why should I pay for you to have more kids?),
corporations like Amazon with 11 billion (BILLION) in profits and
paying zero taxes. Just gets to the point of "enough is enough". I'm getting a little sick and tired of paying for Bezos yacht while he screws women behind his wife's back.
still pay mega-taxes (well into the 5 figures). Yet people having babies left and right keep getting "credits" (why should I pay for you to have more kids?),
Maintaining the population can be a good thing.. I've heard the US birth rate is dropping, which means fewer people in the workforce down the road, which means less tax revenue for the government, fewer people in the US going into high-tech jobs, etc..
So filing my taxes and almost forgot to enter that W-2. I go in and enter it and pretty much over half of what I made there got taken in taxes. I just rolled my eyes. This was on top of them deducting taxes as well!
I know there are lots of people getting surprised by their refunds turning into "payments due" this year. Just thought I'd share my tax story as well.
But yeah, I do see what you mean. I heard people talking about getting a big return back this year, and my refund this year will be smaller than last year. I was a little surprised too, but I think it's because I was taking home a bit more throughout last year.
It's not the governments job, nor should it be my money, going to support population quotas. The government needs to get their nose out of people's personal lives, and conversely, if you can't afford kids, you shouldn't be having them.
My partner and I decided long ago we wanted no kids. We enjoy traveling too much and have no want nor desire for kids. Yet indirectly we keep paying for others to have more and more.
On 02-19-19 20:09, Dmxrob wrote to Nightfox <=-
My partner and I decided long ago we wanted no kids. We enjoy traveling too much and have no want nor desire for kids. Yet indirectly we keep paying for others to have more and more.
On 02-19-19 19:54, Digital Man wrote to Dmxrob <=-
Well, technically, it is the government's job to insure the prosperity
of the country (or try to) and encouraging "growth" of all kinds (including population) is part of that. It's also not really "fair"
that people with mortgages get a tax break over people that have
paid-off their debts (mortage interest is deductable), but the
government wants people to borrow and feed the banking system with
their interest payments. It's part of the whole capitalistic economic system we're part of. Are we slaves to it? Yeah, pretty much. Of
Dmxrob wrote to All <=-
I think we are quickly approaching the point where the people are going
to start to revolt to be honest.
I work in the IT field, and make pretty good money, but over the holidays I have about 3 weeks off and this year decided I wanted to get out and interact with people more and took a holiday job over at Macy's. I knew going into it wouldn't make much money, which I didn't care about, just wanted to get out and about.
I ended up really enjoying my time at Macy's and had a blast. It was great -- very, very busy -- but great.
So filing my taxes and almost forgot to enter that W-2. I go in and enter it and pretty much over half of what I made there got taken in taxes. I just rolled my eyes. This was on top of them deducting taxes as well!
I know there are lots of people getting surprised by their refunds turning into "payments due" this year. Just thought I'd share my tax story as well.
I think we are quickly approaching the point where the people are going to start to revolt to be honest.
and a drop in taxable income. I was disaappointed at first, and especially I knew that I gotten a raise that year. So, I naturally thought that it would be a higher taxable income and a bigger refund; turned out to be smaller. I hate to see next year, though8 I did get a significant raise this year. :/
We also don't want kids, and so we are paying on average in taxes (Australia also has various family payments), and each year the budget is a big yawn, because it is always families with kids who attract the government dollars. :/
business what we did with our money and our time. He chose to have kids, and so that was his choice. Nobody else but him. To this day he has never said another peep about the subject. However, ever since then we have ceased donating to their kids Catholic school. We told him straight to his face after that we were tired of only hearing from them when they wanted to raise money for the school and we'd no longer be participating in that.
i cant believe you worked retail! that stuff sucks!
i did it when i was a kid and it scarred me for life.
I was disaappointed at first, and especially I knew
that I gotten a raise that year. So, I naturally
thought that it would be a higher taxable income and a
bigger refund; turned out to be smaller. I hate to see
next year, though8 I did get a significant raise this
year. :/
this is why i always looked at the tax tables before accepting a raise... if the raise puts me in another bracket but at the bottom of that bracket, yeah, there's generally less left over after taxes... if the raise puts you in the middle of the bracket or higher, then you'll have more to work with at the end... i don't know how the tables look in the last years, though... they're screwed things up a huge amount in the last couple of years...
Retail is not for everyone. BUt for some people, like myself, it is actually quite fun. I loved all the rush of the holiday season. I was clocking in 24-30 thousand steps a day and when I went home at night I was physically exhausted. But always looked forward to the next day.
Re: Got to love taxes
By: Rampage to Jagossel on Fri Feb 22 2019 02:33 pm
this is why i always looked at the tax tables before accepting a
raise... if the raise puts me in another bracket but at the bottom
of that bracket, yeah, there's generally less left over after
taxes... if the raise puts you in the middle of the bracket or
At the place where I work, annual raises are generally automatic. They don't ask you first if you want to accept the raise. I suppose if I realize a raise puts me in a higher tax bracket where I'd take home less money, I could probably talk to my manager about it.
this is the second tax year after the changes. the people that have to pay taxes when they normally didnt, did not setup their withholdings correctly.
If so, you may have a bit of a mistaken understanding of how those work... there isn't a situation in which you can receive a raise, move brackets, and make less money.
Say you are in the 12% tax bracket making $39,475, and get a raise to make $39,476 which would place you into the 22% bracket. Only $1 would be taxed at 22%, as it is the only money made above the new tax bracket, not all of your income -- whatever income falls within that bracket is taxed at that rate, not all of it. With this information, as you can see, there is not a situation in which you can receive a raise, make more money, and based off the tax bracket system, make less money... it doesn't work like that. You would only make "less money" off all the income that falls into the next bracket itself, as only that amount is taxed higher, so you would absolutely still make more income if you receive a raise on your salary.
Dmxrob wrote to MRO <=-
Retail is not for everyone. BUt for some people, like myself, it
is actually quite fun. I loved all the rush of the holiday
season. I was clocking in 24-30 thousand steps a day and when I
went home at night I was physically exhausted. But always looked
forward to the next day. It really was the people that kept me
going -- had a few crabapples, but for the most part the people
were amazing.
Not entirely sure I follow what either of you are saying, perhaps I missed something. By "Tax Tables" are you referring to the marginal Tax Brackets? If so, you may have a bit of a mistaken understanding of how those work... there isn't a situation in which you can receive a raise, move brackets, and make less money.
sure there is...
example:
you make 600/week
they take out 100/week
you are taking home 500/week
you get a raise to 700/week (higher tax bracket)
they're now taking out 250/week
you now are taking home 450/week
net ""loss"" of 50 in your take home and things are tighter because you don't have that additional 50... you may not even be able to make your rent or insurance payment now...
i don't have current tax tables here but i've run headlong into exactly this situation more times than i care to count... if you are living paycheck to paycheck, this can really hurt...
I see.. I suppose I didn't realize taxes worked quite like that.
net ""loss"" of 50 in your take home and things are tighter because you don't have that additional 50... you may not even be able to make your rent or insurance payment now...
i don't have current tax tables here but i've run headlong into exactly this situation more times than i care to count... if you are living paycheck to paycheck, this can really hurt...
On 02-21-19 09:04, Dmxrob wrote to Vk3jed <=-
About 4 years ago we decided that we would no longer support in any
way, shape or form any additional "begging" from schools or families.
It got to the point where every other week they were selling something
to raise money for one thing or another. We simply, but nicely,
started declining and have continued to do so. We feel we pay in
enough in taxes that we should not have to support them otherwise.
My partner's brother has 4 kids (and they are talking about a 5th).
About two years ago he (my partner's brother) goes on this massive rant
to my partner's mom about how we travel too much and we are spending
way too much money traveling, and he never gets to travel, blah, blah, blah. My partner's mom shot him down immediately and said it wsa none
of his damn business what we did with our money and our time. He chose
to have kids, and so that was his choice. Nobody else but him. To
this day he has never said another peep about the subject. However,
ever since then we have ceased donating to their kids Catholic school.
We told him straight to his face after that we were tired of only
hearing from them when they wanted to raise money for the school and
we'd no longer be participating in that.
halcy0n wrote to Nightfox <=-
Say you are in the 12% tax bracket making $39,475, and get a raise to
make $39,476 which would place you into the 22% bracket. Only $1 would
be taxed at 22%, as it is the only money made above the new tax
bracket, not all of your income -- whatever income falls within that bracket is taxed at that rate, not all of it.
This is a very common misunderstanding / myth in the realm of effective tax rates.
If a yearly raise in your income places you into a new tax bracket, ONLY THE >NEW INCOME THAT FALLS IN THAT BRACKET is taxed at the new rate. NONE of the >income earned below that tax bracket is touched by the next bracket's increased
rate. There is not a scenario where from the marginal tax bracket system you >would make more money, and take home less.
Stop trying to confuse us with FACTS! :)
Seriously, that's a great explanation of tax rates. Thanks!
This is correct, at least it was in my state. They just went to a flat tax rate so it is all moot now. But when they had brackets, the first $N earned were charged at rate A%, the next $N over and above were charged B%, etc.
So, if you made $5000, and the first bracket ended at $3000 and taxed at 2%, you paid $60 tax on your first $3000. If the $5000 fell in a 3% tax bracket, you only paid 3% on the amount that you went above the first bracket. So, 3000 * .02 = $60, and ( 5000 - 3000 ) * .03 = $60, for a total tax of $120 on that $5000. It would not be the full $5000 * .03.
Stop trying to confuse us with FACTS! :)well informed populace is vital to a democracy :)
On 02-24-19 14:33, halcy0n wrote to poindexter FORTRAN <=-
@VIA: VERT/PHARCYDE
Re: Re: Got to love taxes
By: poindexter FORTRAN to halcy0n on Sat Feb 23 2019 06:50 am
Stop trying to confuse us with FACTS! :)
Seriously, that's a great explanation of tax rates. Thanks!
Hey we ALL benefit from understanding this stuff better in the long
run. A well informed populace is vital to a democracy :)
Swolf154 wrote to halcy0n <=-
well informed populace is vital to a democracy :)
Errr...what's a "populace"???
Stop trying to confuse us with FACTS! :)well informed populace is vital to a democracy :)
Errr...what's a "populace"???
:) A related issue is tax deductibie expenditure, like donating to charity (donations over $2 to DGR registered charities in are tax deductible). Contrary to common misconception, you don't get all of that donation back. Instead, the donation is deducted from your income, which means you get (donation * marginal tax rate) back. Which for me is a big fat $0, because I don't earn enough to reach the first tax bracket. Needless to say, I don't bother getting receipts for any donations I make. :)
Halcy0n wrote to Vk3jed <=-
Yeah, a lot of people incorrectly assume at some point rich people just make donations and say oh it's all just a write-off anyway... when
that's also not how it works, heh. You can donate and get a deduction,
but it's always less then your donation, so you're always losing money
-- through that system specifically, anyway ;).
Suze Orman lived in my neighborhood back in the '90s, she'd stop at garage sales and give unsolicited advice, telling them they were foolish for
having garage sales and would be better off taking the donation.
She was quite a piece of work.
On 02-25-19 14:17, Halcy0n wrote to Vk3jed <=-
Yeah, a lot of people incorrectly assume at some point rich people just make donations and say oh it's all just a write-off anyway... when
that's also not how it works, heh. You can donate and get a deduction,
but it's always less then your donation, so you're always losing money
-- through that system specifically, anyway ;).
i have lived paycheck to paycheck my entire life. i would also
get raises every year or so. i never made less money than
before.
Stop trying to confuse us with FACTS! :)well informed populace is vital to a democracy :)
Errr...what's a "populace"???
another word for "population"... search google for "define: populace"... make sure you use the ':' in the search like i wrote it... it works for most any word and possibly some phrases...
i didn't say you "made" less $$$... i said that you "can take home" less $$$...
there's a big difference...
Re: Re: Got to love taxes
By: MRO to Rampage on Sat Feb 23 2019 17:31:37
i have lived paycheck to paycheck my entire life. i would also
get raises every year or so. i never made less money than
before.
i didn't say you "made" less $$$... i said that you "can take home" less $$$... there's a big difference...
i didn't say you "made" less $$$... i said that you "can take home" less $$$... there's a big difference...
another is that the other poster seems to be only talking about the end-of-the-year tax mess and not considering the (bi-)weekly take home pay that most ordinary folk are looking at...
Errr...what's a "populace"???
another word for "population"... search google for "define: populace"... mak
sure you use the ':' in the search like i wrote it... it works for most any word and possibly some phrases...
Errr...what's a "populace"???
another word for "population"... search google for "define:
populace"... mak sure you use the ':' in the search like i wrote
it... it works for most any word and possibly some phrases...
I think it is a European term :)
Re: Re: Got to love taxes
By: ROBERT WOLFE to RAMPAGE on Mon Mar 04 2019 01:38 am
Errr...what's a "populace"???
another word for "population"... search google for "define:
populace"... mak sure you use the ':' in the search like i wrote
it... it works for most any word and possibly some phrases...
I think it is a European term :)
I grew up an the US and I know what "populace" means..
another word for "population"... search google for "define:
populace"... make sure you use the ':' in the search like i
wrote it.. it works for most any word and possibly some
phrases...
I usually would search it like "populace definition". That
tends to work too.
another word for "population"... search google for "define:
populace"... make sure you use the ':' in the search like i
wrote it.. it works for most any word and possibly some
phrases...
I usually would search it like "populace definition". That
tends to work too.
yeah... i've found doing it the way i showed above gives the result like a dictionary instead of a lot of pages with that search phrase... i've been
doing it like that since google introduced the feature... that was back when they brought in the ability to do math and conversions ;)
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