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General Discussion => Essentially Flyertalk => Topic started by: K-S-U-Wildcats! on February 18, 2013, 10:40:58 AM

Title: Taxes - how'd you do?
Post by: K-S-U-Wildcats! on February 18, 2013, 10:40:58 AM
Finished my returns this weekend. Paid an effective federal income tax rate of 15.6% (total federal income tax / total income). Add in FICA, KS income tax, real and personal property taxes, and (approximate) sales tax, and I paid about 35% of my income in taxes in one form or another.

How'd you guys do?

Title: Re: Taxes - how'd you do?
Post by: OK_Cat on February 18, 2013, 10:43:19 AM
personal question
Title: Re: Taxes - how'd you do?
Post by: Willesgirl on February 18, 2013, 10:47:52 AM
Finished my returns this weekend. Paid an effective federal income tax rate of 15.6% (total federal income tax / total income). Add in FICA, KS income tax, real and personal property taxes, and (approximate) sales tax, and I paid about 35% of my income in taxes in one form or another.

How'd you guys do?

Very much like you did, K-S-U. Paid 15.9 percent effective federal income tax rate and gave an interest free loan to the government of about $2,000. When FICA, state income, sales, personal property etc are included, I paid about 40 percent.
Title: Re: Taxes - how'd you do?
Post by: steve dave on February 18, 2013, 10:48:29 AM
I have no idea
Title: Re: Taxes - how'd you do?
Post by: pissclams on February 18, 2013, 10:56:18 AM
taxes really are for the poorest of the poor
Title: Re: Taxes - how'd you do?
Post by: Rams on February 18, 2013, 10:57:23 AM
1. I've never paid attention to the rate I'm paying

2. I won't give my stuff to my cpa until sometime in late sept early oct

3. it's none of your damn business
Title: Re: Taxes - how'd you do?
Post by: The Tonya Harding of Twitter Users Creep on February 18, 2013, 11:12:20 AM
 :kstategrad: DNR.
Title: Re: Taxes - how'd you do?
Post by: Saulbadguy on February 18, 2013, 11:28:42 AM
.

[attachment deleted by admin]
Title: Re: Taxes - how'd you do?
Post by: K-S-U-Wildcats! on February 18, 2013, 11:31:41 AM
Whole lotta strange replies here. If you don't want to share, you don't need to reply.
Title: Re: Taxes - how'd you do?
Post by: OK_Cat on February 18, 2013, 11:32:42 AM
Whole lotta strange replies here. If you don't want to share, you don't need to reply.

can you imagine this shithole if nobody responded to stupid threads?


woof
Title: Re: Taxes - how'd you do?
Post by: Emo EMAW on February 18, 2013, 11:42:28 AM
Spent the weekend creating an LLC to use as a tax shelter.  This past year was just too much for me.  eff em.
Title: Re: Taxes - how'd you do?
Post by: Mrs. Gooch on February 18, 2013, 11:42:58 AM
Haven't even started yet.
Title: Re: Taxes - how'd you do?
Post by: steve dave on February 18, 2013, 11:46:27 AM
sdbro is getting back $8,500. I was all  :lol: you dumbass  :lol:
Title: Re: Taxes - how'd you do?
Post by: The Tonya Harding of Twitter Users Creep on February 18, 2013, 11:48:29 AM
sdbro is getting back $8,500. I was all  :lol: you dumbass  :lol:

It blows my mind how many people don't understand that a big return means they lost a lot of money.
Title: Re: Taxes - how'd you do?
Post by: steve dave on February 18, 2013, 11:49:20 AM
sdbro is getting back $8,500. I was all  :lol: you dumbass  :lol:

It blows my mind how many people don't understand that a big return means they lost a lot of money.

he understands it completely. he was mocking himself more than I was mocking him.
Title: Re: Taxes - how'd you do?
Post by: The Tonya Harding of Twitter Users Creep on February 18, 2013, 11:50:33 AM
sdbro is getting back $8,500. I was all  :lol: you dumbass  :lol:

It blows my mind how many people don't understand that a big return means they lost a lot of money.

he understands it completely. he was mocking himself more than I was mocking him.

Wasn't knocking sd bro... just noting that there are a lot of people out there that think that getting $8500 back is "winning" taxes.
Title: Re: Taxes - how'd you do?
Post by: The Tonya Harding of Twitter Users Creep on February 18, 2013, 12:10:01 PM
Nothing like a series of KKK posts to kill a thread.  :fatty:

You're welcome, everyone else!
Title: Re: Taxes - how'd you do?
Post by: wetwillie on February 18, 2013, 12:19:11 PM
Haven't filed a return in years, the IRS got soft when clinton left
Title: Re: Taxes - how'd you do?
Post by: Winters on February 18, 2013, 12:22:30 PM
.
OT: I enjoyed that.
Title: Re: Taxes - how'd you do?
Post by: AbeFroman on February 18, 2013, 12:26:18 PM
Really excited about not having to file in 2 states this year.
Title: Re: Taxes - how'd you do?
Post by: Bloodfart on February 18, 2013, 12:32:05 PM
Forgot to contribute to my Roth.    :facepalm:
Title: Re: Taxes - how'd you do?
Post by: Emo EMAW on February 18, 2013, 01:01:39 PM
Forgot to contribute to my Roth.    :facepalm:

I think you still can?
Title: Re: Taxes - how'd you do?
Post by: Bloodfart on February 18, 2013, 01:12:05 PM
Forgot to contribute to my Roth.    :facepalm:

I think you still can?

I know but it's not in my budget right now and pretty soon we won't be eligible contribute.
Title: Re: Taxes - how'd you do?
Post by: hemmy on February 18, 2013, 03:17:55 PM
I'm gonna owe like $1,200 I suspect.
Title: Re: Taxes - how'd you do?
Post by: sys on February 18, 2013, 03:40:16 PM
with interest rates as they are, they return or no return argument is pretty pointless.
Title: Re: Taxes - how'd you do?
Post by: chum1 on February 18, 2013, 03:59:07 PM
It's not human nature to maximize.  And the world is a much better place for it. 
Title: Re: Taxes - how'd you do?
Post by: Mikeyis4dcats on February 18, 2013, 05:19:29 PM
with interest rates as they are, they return or no return argument is pretty pointless.

yeah, if all you'd do with the money is let it collect dust in a savings account.   :lol:
Title: Re: Taxes - how'd you do?
Post by: AST on February 18, 2013, 05:26:03 PM
I don't know, my accountant told me I should by a couple of new trucks before the end of the year and I'd be fine

I guess that means I'm fine
Title: Re: Taxes - how'd you do?
Post by: shivvyman on February 18, 2013, 05:37:15 PM
Got a letter from the IRS saying I owe $3K+ from 2011. Clerical error fixed and now they owe me $43! Sweet.
Title: Re: Taxes - how'd you do?
Post by: _33 on February 18, 2013, 10:51:55 PM
It's fun to get a big tax return though.
Title: Re: Taxes - how'd you do?
Post by: K-S-U-Wildcats! on February 19, 2013, 09:44:07 AM
How do you stack up?

(https://goemaw.com/forum/proxy.php?request=http%3A%2F%2Fwww.pgpf.org%2FIssues%2FTaxes%2F2012%2F04%2F%7E%2F%7E%2Fmedia%2FBE9AE89EE9DB41F2879D9EF735E4F1D9.gif&hash=e2d46111c54f4fc725584d13ea1c7aff63e69a0a)
Title: Re: Taxes - how'd you do?
Post by: yoga-like_abana on February 19, 2013, 09:55:27 AM
It's fun to get a big tax return though.
definitely is, feels like you won the lotto.
Title: Re: Taxes - how'd you do?
Post by: Willesgirl on February 19, 2013, 11:22:51 AM
It's fun to get a big tax return though.
definitely is, feels like you won the lotto.

No. It feels like I'm a dumbass for giving the government an interest-free loan.
Title: Re: Taxes - how'd you do?
Post by: Institutional Control on February 19, 2013, 11:48:25 AM
It's fun to get a big tax return though.
definitely is, feels like you won the lotto.

No. It feels like I'm a dumbass for giving the government an interest-free loan.

You should just change your name to DaveRamseysgirl
Title: Re: Taxes - how'd you do?
Post by: _33 on February 19, 2013, 11:57:30 AM
It's fun to get a big tax return though.
definitely is, feels like you won the lotto.

No. It feels like I'm a dumbass for giving the government an interest-free loan.

Nope. Don't care about that.  Jackpot!
Title: Re: Taxes - how'd you do?
Post by: sys on February 19, 2013, 12:27:51 PM
Nope. Don't care about that.  Jackpot!

you just gave the govt like $4.50.  dumbass.
Title: Re: Taxes - how'd you do?
Post by: Boom Roasted on February 19, 2013, 12:37:03 PM
Got a letter from the IRS saying I owe $3K+ from 2011. Clerical error fixed and now they owe me $43! Sweet.

Had a similair thing from the State of Kansas from 10 when i moved to MO.  They kept badgering me for it over and over and every time i called and said hey you idiots owe me $30 just leave me alone and you can have it they would agree.  Then 2 months later i'd get the same thing all over again.  Eventually they gave me money after wasting probably 12 mailings worth of postage and paper and probably 5-10 man hours.  Dang the government is efficient.
Title: Re: Taxes - how'd you do?
Post by: michigancat on February 19, 2013, 12:40:48 PM
California seems to make calculating exemptions more difficult than other states. I did the IRS calculator thingy, did the standard deduction and still ended up with like $3k from California and $2k from federal. And I know at least two people that are owing like $10k because of incorrect exemptions. Also my company makes it a pain to change. weird.
Title: Re: Taxes - how'd you do?
Post by: nicname on February 19, 2013, 05:31:57 PM
Negative tax rate.  Best part about paying for school up front.