how the fuck do i owe taxes?

decides2dream

dunkman wrote:

it still sounds like a shit system... and judging by the amount of people on this very thread not knowing if they have refunds/owe money/what the fuck to do.. then i guess if this forum were a microcosm of america then there will be plenty of others siting at home not having a clue with what they are to pay/not to pay/what to declare, etc.

whereas here... you earn £20k... then you pay this amount in taxes... have 2 kids and are married? then you'll pay this.. etc etc etc.

the US one makes about as much sense as tipping... oops... imo.

hey, opinions are like assholes.......;)


i like our system. if others don't, whatever.
i like how it leaves a lot of choice in the hands of the taxpayer. even choosing what state you live in can greatly alter your taxes at the state level anyway. however, you think it's shit...good thing you don't have to deal with it then eh? it makes plenty of 'sense' how it is handled, and most do not have problems figuring it out. it really isn't difficult. as many have already stated, the OP more than likely did not pay attention to his initial tax forms at work, and thus did not have the proper amount withdrawn from his paycheck each time. so HE got an interest-free loan from the government instead of giving one. surprising to find out when you are unprepared, but it's really not so bad, and hopefully now he/she will rectify the situation for him/herself for the future. i personally have never been 'surprised' by taxes, b/c we've always paid in as needed. only surprise per se was the first year after buying our home...was surprised the size of our refund due to the home purchase. i've always agreed about tipping, but as far as our income taxes are handled, i like it.

mfc2006

our taxes are driving me crazy. i work as an independent contractor/editor for a publication & all of my income from last year has to be submitted through a 1099-MISC. ugh.

this is also our first year to file as being married & money is a "little tight". we're doing ok, but i get the feeling that we're going to have to pay and we aren't looking forward to that. we're both in school full time and working. so i'm doing a lot of research of credits/exemptions that we may be eligible for & it's driving me a bit mad. so far, i've found that being students will help us and that i can deduct a portion of our rent & utilities b/c i work at home.

if anyone has any ideas or info on the 1099-misc or any credits that we may be overlooking, please feel free to send me a pm!!

i'm about 2 seconds away from taking all of our tax info & dropping it off on someone else's desk so they can research it!

vduboise

mfc2006 wrote:

our taxes are driving me crazy. i work as an independent contractor/editor for a publication & all of my income from last year has to be submitted through a 1099-MISC. ugh.

this is also our first year to file as being married & money is a "little tight". we're doing ok, but i get the feeling that we're going to have to pay and we aren't looking forward to that. we're both in school full time and working. so i'm doing a lot of research of credits/exemptions that we may be eligible for & it's driving me a bit mad. so far, i've found that being students will help us and that i can deduct a portion of our rent & utilities b/c i work at home.

if anyone has any ideas or info on the 1099-misc or any credits that we may be overlooking, please feel free to send me a pm!!

i'm about 2 seconds away from taking all of our tax info & dropping it off on someone else's desk so they can research it!

don't forget to add in your student loans- if your paying them back now.

mfc2006

vduboise wrote:

don't forget to add in your student loans- if your paying them back now.

yeah---those have been added. thankfully, this will be the last year that i have to even think about them!!

vduboise

mfc2006 wrote:

vduboise wrote:

don't forget to add in your student loans- if your paying them back now.

yeah---those have been added. thankfully, this will be the last year that i have to even think about them!!

you are so lucky! I have 3 years left on one, and 5 left on the other. I can't wait for it to be over.

When I got married, that was the first time I ever had to pay back- changed the w-4 - stupid move. Now I claim single zero, and so far I've gotten a decent return every year.

mfc2006

vduboise wrote:

mfc2006 wrote:

vduboise wrote:

don't forget to add in your student loans- if your paying them back now.

yeah---those have been added. thankfully, this will be the last year that i have to even think about them!!

you are so lucky! I have 3 years left on one, and 5 left on the other. I can't wait for it to be over.

When I got married, that was the first time I ever had to pay back- changed the w-4 - stupid move. Now I claim single zero, and so far I've gotten a decent return every year.

that was some great advice that my Dad gave me. don't borrow more than you need & start paying them off as soon as you can.

i've also never had to pay back. but, that streak appears to be in jeopardy! :x

vduboise

mfc2006, maybe in this case its best to go to an accountant. They can probably figure out all your credits/exemptions/ etc so that you won't have to pay back. Its a bit of money spent, but I think you will have a better frame of mind.

mfc2006

vduboise wrote:

mfc2006, maybe in this case its best to go to an accountant. They can probably figure out all your credits/exemptions/ etc so that you won't have to pay back. Its a bit of money spent, but I think you will have a better frame of mind.

yup---that's kind of what i've been thinking. and as far as i'm concerned--the sooner, the better. that'll give us more time to fill out all of those awesome forms! thanks for your input!

decides2dream

mfc2006 wrote:

vduboise wrote:

mfc2006, maybe in this case its best to go to an accountant. They can probably figure out all your credits/exemptions/ etc so that you won't have to pay back. Its a bit of money spent, but I think you will have a better frame of mind.

yup---that's kind of what i've been thinking. and as far as i'm concerned--the sooner, the better. that'll give us more time to fill out all of those awesome forms! thanks for your input!

i second that advice. also, an accountant might be able to assist you for the future, perhaps suggest making quarterly estimated tax payments since you are self-employed/independent....will save some of the sting at the end of each tax year, won't get hit owing hopefully. seeing what exemptions are possible is always a good thing too.

Wobbie

Heineken Helen wrote:

How come nobody seems to know what they owe or what they'll get? Does the government just pick a random figure out of its arse or is there not some way of working it out?

That's how our government does a lot of things!!! :roll:

Commy

decides2dream wrote:

i like how it leaves a lot of choice in the hands of the taxpayer.

not liking how my tax dollars are spent I used to choose to owe at the end of the year.I didn't like the idea of overpaying throughout the year and letting the government get a free loan.


think paying exactly what you owe would be a better system.

decides2dream

Commy wrote:

decides2dream wrote:

i like how it leaves a lot of choice in the hands of the taxpayer.

not liking how my tax dollars are spent I used to choose to owe at the end of the year.I didn't like the idea of overpaying throughout the year and letting the government get a free loan.


think paying exactly what you owe would be a better system.

you don't HAVE to underpay....nor overpay....YOU choose your limits. i personally like that there is CHOICE, b/c many, many different people have different circumstances as to how and when they want their taxes taken out of their income yearly. i personally am glad we have options. many, many people make SURE they don't get refunds, maybe even owe...so they get the 'interest-free loan' from the government instead of vice-versa. other people like to get a refund, a lump sum, rather than a couple extra dollars each week, even if it does mean an interest-free loan to the govt. other people, such as myself, like to basically pay in what they owe, but err on the side of a small refund to cover extraneous extra income accumulated outside of regular wages. i know i did some financial maneuvers december 30th of last year.....which got me extra cash in hand, and will garner a nice refund too. ALL are options, and i like having options...even within paying my taxes. that's all. you don't like it...whateva. however, our sytem IS set up so you can pay exactly what you owe....but you can also choose to over or underpay as well....and come april 15th, even it all out. unless of course you get an extension...and can drag it out even longer.

Heatherj43

Travelar wrote:

Just like last year I owe the state and get a refund fro the federalis. Almost even, but not quite there.

This is common. I tell everyone to claim one less exemption on state than fed thru the year.

dunkman

decides2dream wrote:

hey, opinions are like assholes.......;)


i like our system. if others don't, whatever.

it's just my opinion... i never aimed to convert you.

you like your system.. and i dont... but it's not 'whatever'.

you always do this.... you say "yeah , whatever" but then use your next 2 paragraphs to tell me why i should like your system.

point is... i dont like it... it sounds like a shit system.

decides2dream

dunkman wrote:

decides2dream wrote:

hey, opinions are like assholes.......;)


i like our system. if others don't, whatever.

it's just my opinion... i never aimed to convert you.

you like your system.. and i dont... but it's not 'whatever'.

you always do this.... you say "yeah , whatever" but then use your next 2 paragraphs to tell me why i should like your system.



point is... i dont like it... it sounds like a shit system.

i don't tell you why you should like our system...i further tell why *I* like our system. that's all. so yes, it is 'whatever' to me...i don't care if you don't like our system, it has no bearing on my life..or on yours really, haha.....if you haven't noticed, i just like to have conversation. if actually sharing my reasons for liking it is in some way inferred by you to mean i am trying to convince you to like it, well..tis your inference and not my intent. also why i started off with 'opinions are like assholes'....cause i realize, we're simply sharing opinions. i wasn't aiming to conver you either. at most, i was explaining some of it. don't care....cool.


so yes....whaaattteeeevvvvvveeeeerrrrrrrrrrrrr....:P

dunkman

decides2dream wrote:

dunkman wrote:

decides2dream wrote:

hey, opinions are like assholes.......;)


i like our system. if others don't, whatever.

it's just my opinion... i never aimed to convert you.

you like your system.. and i dont... but it's not 'whatever'.

you always do this.... you say "yeah , whatever" but then use your next 2 paragraphs to tell me why i should like your system.



point is... i dont like it... it sounds like a shit system.

i don't tell you why you should like our system...i further tell why *I* like our system. that's all. so yes, it is 'whatever' to me...i don't care if you don't like our system, it has no bearing on my life..or on yours really, haha.....if you haven't noticed, i just like to have conversation. if actually sharing my reasons for liking it is in some way inferred by you to mean i am trying to convince you to like it, well..tis your inference and not my intent. also why i started off with 'opinions are like assholes'....cause i realize, we're simply sharing opinions. i wasn't aiming to conver you either. at most, i was explaining some of it. don't care....cool.


so yes....whaaattteeeevvvvvveeeeerrrrrrrrrrrrr....:P

so in short... its a shit system that only about 2 people on this thread know how to work it correctly.

brilliant

decides2dream

dunkman wrote:

so in short... its a shit system that only about 2 people on this thread know how to work it correctly.

brilliant

actually seems to me only about 2 or 3 people in this thread had 'issues' with the system....and as many have explained, more than likely, they simply did not check their tax elections at work. simple as. everything else, related to life changes - marriage, school - and/or being independently employed. so yea...i don't see too many problems. what i see is people bitchin' when they owe tax....ain't nutthin' new there....tis the american way.

funny....i offer my opinion and you construe it to mean that i am trying to tell you how to think about it....but you judge the whole system by a few posts on a message board and declare it shit. who is trying to offer their opinion as fact? :P

dunkman

decides2dream wrote:

funny....i offer my opinion and you construe it to mean that i am trying to tell you how to think about it....but you judge the whole system by a few posts on a message board and declare it shit. who is trying to offer their opinion as fact? :P

me.

i and everyone else i know in the UK don't have any of this shitty hassle when it comes to Tax... and so the fact is.. the whole system over there is shit as even 2 or 3 people having a problem out of perhaps 10 or 12 people on this thread alone means its a flawed system that is open for people to abuse or to completely mis-understand.

thats not even my opinion anymore... its fact.

decides2dream

dunkman wrote:

decides2dream wrote:

funny....i offer my opinion and you construe it to mean that i am trying to tell you how to think about it....but you judge the whole system by a few posts on a message board and declare it shit. who is trying to offer their opinion as fact? :P

me.

i and everyone else i know in the UK don't have any of this shitty hassle when it comes to Tax... and so the fact is.. the whole system over there is shit as even 2 or 3 people having a problem out of perhaps 10 or 12 people on this thread alone means its a flawed system that is open for people to abuse or to completely mis-understand.

thats not even my opinion anymore... its fact.

sorry, i disagree. the reason there are 'hassle's is b/c there are options. i've said as much from my first post. i LIKE options. if i have a lot of extra income outside my regular wage, instead of paying quarterly estimated payments, or being hit with a large tax bill at the end of the year, i can choose to have more deducted from my biweekly check. i like that. or, if i know i will have a lot of deductions a given year due to tuition costs or some other life change, i can elect to have less taken out of my paycheck so as to not get a refund. or, perhaps i LIKE getting a refund b/c i am shit at saving, so i can choose to have more deducted from my pay each week so as i do get a refund. or, perhaps this year i take on my nephew as a dependent, even tho he is not my child, i can elect to claim him on my taxes, thus a bigger reduction, and thus i may want to alter my tax deductions out of my pay. just a few examples out of countless others....and why i like how there is much control in the hands of the individual of how and when they pay their federal income tax. you think its shit...great.....others think it's shit...great.....i don't think it's shit, many others do not as well...so no, your opinion is not fact.