i give the state 15 and the feds 15 extra every 2 weeks too.
why? because if i don't, i'll owe...
gotta love the 1099 misc income forms......
Filing taxes
- Thread starter George777
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i give the state 15 and the feds 15 extra every 2 weeks too.
why? because if i don't, i'll owe...
gotta love the 1099 misc income forms......
StealthMode
Kung Foolin'
My returns are usually under $50 combined. Working for a school district sucks.
im with B and clayton.
i give $20 each paycheck.
but then again, every febuary, i have a $$ return.
i give $20 each paycheck.
but then again, every febuary, i have a $$ return.
George777
^^ Likes Bewbies
I put $25 in for state and $25 in for the feds every 2 weeks...I did it that way last year, and I still ended up shelling money out of my pocket...
I grossed $34,774 this year and only took home $20,962...about the same as last year...This shit sux. Of course that's with an extra $1300 being taken out from my $50 combined withholding, not to mention medical which I don't use (another $1090)...so theoretically, I should have taken home about $23,000...
One third of my income goes to the government, and I'll be luck to see much of anything back...can't wait.
Thank god for the under-the-table jobs I do...ain't gotta report nuttin' for them.
I grossed $34,774 this year and only took home $20,962...about the same as last year...This shit sux. Of course that's with an extra $1300 being taken out from my $50 combined withholding, not to mention medical which I don't use (another $1090)...so theoretically, I should have taken home about $23,000...
One third of my income goes to the government, and I'll be luck to see much of anything back...can't wait.
Thank god for the under-the-table jobs I do...ain't gotta report nuttin' for them.
lmao
i love the mentality of "oh i giive the government an extra $## from every pay check, but i get a big return"
all you are doing is giving the government an interest free loan... and you're not getting dick for it
if you took that same $15-30 and put it into a savings account and didnt fuck with it you would have more money than you get on your "$$ return" because unlike the government the bank WILL pay interest (there are several other ways to get even more return out of your $15-30, but lets just keep this simple for now)
the only downfall is that this method requires you to have a little self control and not fuck with the money in that account
and if you have taxes taken out of your check, and you still end up paying in for taxes, you are doing something wrong.... seriously wrong.... i worked as an independant contractor for a while... my check had no taxes taken from it... so all year long i didnt pay in anything for taxes.... when it came time to do my taxes i was able to write off enough shit that i still didnt have to pay anything... actually i got $1 back
unless of course you work 2 different jobs... then it is possible to seriously fuck yourself up... this happened to my cousin, he works 2 full time jobs and was being taxed at the normal pay rate for each job indivudually, but at the end of the year when it was time to do taxes he was well into a higher tax bracket and ended up having to pay out the ass to make up the difference... he has since adjuated how he is taxed at each of his jobs to compensate for the higher earning bracket and he has not had any more problems
i love the mentality of "oh i giive the government an extra $## from every pay check, but i get a big return"
all you are doing is giving the government an interest free loan... and you're not getting dick for it
if you took that same $15-30 and put it into a savings account and didnt fuck with it you would have more money than you get on your "$$ return" because unlike the government the bank WILL pay interest (there are several other ways to get even more return out of your $15-30, but lets just keep this simple for now)
the only downfall is that this method requires you to have a little self control and not fuck with the money in that account
and if you have taxes taken out of your check, and you still end up paying in for taxes, you are doing something wrong.... seriously wrong.... i worked as an independant contractor for a while... my check had no taxes taken from it... so all year long i didnt pay in anything for taxes.... when it came time to do my taxes i was able to write off enough shit that i still didnt have to pay anything... actually i got $1 back
unless of course you work 2 different jobs... then it is possible to seriously fuck yourself up... this happened to my cousin, he works 2 full time jobs and was being taxed at the normal pay rate for each job indivudually, but at the end of the year when it was time to do taxes he was well into a higher tax bracket and ended up having to pay out the ass to make up the difference... he has since adjuated how he is taxed at each of his jobs to compensate for the higher earning bracket and he has not had any more problems
Battle Pope
Well-Known Member
I think I found the problem.
its just easier for me to keep track. technically, i SHOULD be getting taxed on the ads here... but they don't offer that service. at the end of the year, i get 1099 misc forms sent to me from the various companies... and thats straight income that i have to account for.
so, i take out a little more out of my regular pay check to make up for it.
saving for taxes is over-rated imo.
1000 bucks at 1% interest that my savings acct pays is like $1 a month... so the irs can take my 12 bucks...
so, i take out a little more out of my regular pay check to make up for it.
saving for taxes is over-rated imo.
1000 bucks at 1% interest that my savings acct pays is like $1 a month... so the irs can take my 12 bucks...
